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GOLD EXPLORATION NEWS Colchester Program Encourages Cornerstone, Sudbury Contact

NOTRE DAME BAY, Nfld. Partners CORNERSTONE CAPITAL Resources and SUDBURY CONTACT MINES are encouraged by the 2002...


NOTRE DAME BAY, Nfld. Partners CORNERSTONE CAPITAL Resources and SUDBURY CONTACT MINES are encouraged by the 2002 exploration results from Cornerstone’s Colchester gold project in the north-central area of the province. Sudbury Contact, a subsidiary of AGNICO-EAGLE MINES, can earn a 51% interest in the property funding exploration and making option payments to Cornerstone.

Colchester’s gold potential is under investigation after earlier work focused on base metal deposits. The property includes high-grade, shear-hosted gold and volcanics, as well as low-grade, large-tonnage porphyry-style gold-copper mineralization associated with high-level intrusions. Cornerstone concludes, “In terms of geology and mineralization styles, the Colchester property as much in common with the prolific granite-greenstone belts of Northern Ontario and Quebec which includes Agnico-Eagle’s gold-rich VMS LaRonde deposit in Quebec.”

During 2002 Cornerstone discovered the new Winston zone of massive sulphide mineralization by following up on a geochemical survey. It overlies an area that returned drill results of 0.5% Cu in the 1960s. Trenching also discovered three new massive sulphide showings along the McNeilly trend. Drill core from there assayed 40 years ago returned 7.6 g/t Au over 2.7 m and 3.4 g/t Au over 0.6 m. Additional work was done to define the Alpha showing, 150 m from the Colchester main deposit. The main deposit was the subject of early work which suggested a resources of 900,000 tonnes grading 1.3% Cu.

The history of the Colchester gold property (going back to the 1870s) is outlined at Sudbury Contact’s new web site, www.sudburycontact.com or visit www.cornerstoneresources.com.


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