NEWFOUNDLAND CORNERSTONE CAPITAL RESOURCES of Mount Pearl, NL, and FALCONBRIDGE of Toronto have formed a strategic alliance to hunt for Voisey's Bay-type nickel deposits around Cornerstone's Konrad nickel property and extending 20 km east to the Voisey's Bay project of INCO. The partners hope to unearth additional, previously unrecognized, troctolitic rocks that may occur in this area.
In August, Falconbridge entered into an option and joint venture agreement on Cornerstone's Konrad property located between 45 and 60 km from the Voisey's Bay deposits. At Konrad, troctolitic olivine gabbros are intermittently exposed over a strike length of 18 km and bear significant textural and compositional similarities to troctolitic host rocks at Voisey's Bay. Since optioning the property, Cornerstone and Falconbridge have completed a 2,500-line-km MegaTEM survey over the entire property, much of which had not previously been surveyed by electromagnetic methods. The MegaTEM survey is now being followed-up by ground-based geophysical surveys in select areas to explore for nickel-bearing massive sulphides associated with the known gabbros and other targets.
More information and a map of the Konrad property are available at www.CornerstoneResources.com.