Canadian Mining Journal

News

COPPER RESOURCE: Little Deer grows 20% larger

NEWFOUNDLAND - Equal partners Thundermin Resources of Toronto and Cornerstone Capital Resources of Mount Pearl...



NEWFOUNDLAND – Equal partners Thundermin Resources of Toronto and Cornerstone Capital Resources of Mount Pearl, NL, have logged a 20% increase in inferred mineral resources at their Little Deer copper deposit near Springdale. Scott Wilson RPA prepared a report estimating that the deposit contains indicated mineral resources of 1.15 million tonnes at an average grade of 2.8% Cu and inferred resources of 2.34 million at an average grade of 2.1% Cu.

Based on diamond drilling results to date, the Little Deer deposit is now interpreted to consist of two main copper-bearing zones, the Little Deer zone and the Footwall zone with the Footwall zone occurring mainly west of and from 50 to 75 metres below the Little Deer zone. A number of additional copper-bearing zones have also been intersected in the footwall of these two zones by the drilling completed to date, but their extent and significance are unknown at the present time, according to Thundermin, the operator.

To date, the Little Deer deposit has been intersected over a strike length of approximately 1,050 metres and to a vertical depth of approximately 1,000 metres. The deposit remains open along strike to the east and west, up dip and at depth and the potential exists for the discovery of additional mineral resources in all areas. Furthermore, the potential for additional mineralization is also believed to be high in the central gap between the Little Deer and Footwall zones.

The updated mineral resource estimate included results from 113 current and historical drill holes.

Two figures that accompanied the news release of Oct. 13, 2010, may be viewed at www.CornerstoneResources.com.