Core Assets Corp. announced results from the 3D-DCIP geophysical survey completed across the 2.4-kilometre long Pete's -Sulphide City- Gally Trend, at the Silver Lime Carbonate Replacement (CRD)-Porphyry Project (the "Silver Lime Project" or "Silver Lime") in 2023, central Blue Property (the "Blue Property"), Atlin Mining District of NW British Columbia. In August 2023, a modern three-dimensional direct current induced polarization (3D-DCIP) geophysical survey was completed over a 2.3 km2 area of the Silver Lime Project, connecting the Sulphide City Skarn-Porphyry Target, and the Pete's and Gally CRD targets.

The survey identified two large/significant deep-seated porphyry targets. The anomaly at Sulphide City (Anomaly 1) is coincident with the mineralized Mo-Cu Porphyry (confirmed by drilling in 2022) and shows continuation of a highly chargeable and resistive body at depth. This strong chargeability anomaly resides below the current depth of drilling at the Sulphide City Porphyry-Skarn Target and appears to extend to the east.

In 2022, SLM22-006 intersected the interpreted top of the chargeability anomaly at the eastern most edge of the 2023 IP survey. Drill core assays show an increase in Cu with depth at Sulphide City. The bottom of hole SLM22-006 returned 22.25m of 46g/t AgEq with 0.35% CuEq from 447.75m depth, including 0.67m of 323g/t AgEq with 2.5% CuEq1.

The Chargeability Anomaly below Sulphide City measures >1.5 kilometres in the northeast-southwest direction, >500 metres in the east-west direction, and extends to depths of >650 metres (the depth limit of 3D-DCIP survey). Overlapping magnetics/chargeability anomalies suggests that the Sulphide City Chargeability Anomaly may connect to a very chargeable, untested body north of Pete's CRD Target (CVG Magnetics, 2021 VTEM). Chargeability values increase to 80mV/V around the limit of the depth of investigation below Sulphide City, and up to 120mV/V at the core of the anomaly (Anomaly 2) located north of Pete's CRD Target.

The anomalies remain open for exploration at depth and in multiple directions, including possible extensions to the northeast and east below Grizzly Ridge. A follow-up survey is planned for 2024, in conjunction with deeper exploratory drilling, to expand and test these significant geophysical anomalies. Drilling results for the Jackie and Grizzly CRD Targets will be released in the coming weeks.

The survey was also successful in delineating several highly conductive and chargeable, northwest-southeast trending, linear bodies that range from 320 to 900 metres in length and extend from surface to depths of approximately 120 metres. These prospective, near surface linear anomalies correspond with known surficial and drilled massive sulphide skarn and carbonate replacement (CRD) occurrences and provides evidence of their continuity along strike. 2023 Drilling at the Pete's and Gally CRD Targets tested the margins of these features: SLM23-028 (Pete's CRD Target) intersected 6.40m of 159g/t Ag, 16.4% Pb+Zn, and 0.23% Cu from 27.43m depth, including 0.57m of 301g/t Ag, 22.2% Pb+Zn, and 0.31% Cu.

SLM23-048 (Drilled 1.4km SSE at the Gally CRD Target) returned 8.00m of 139g/t Ag, 3.5% Pb+Zn, and 0.18% Cu from surface, including 1.30m of 845g/t Ag, 31.3% Pb+Zn, and 1.10% Cu, and 0.50m of 1,030g/t Ag, 32.4% Pb+Zn, and 1.16% Cu. These conductive, mineralized features connect to the strong chargeable porphyry anomalies at depth via steeply dipping geophysical features - interpreted as massive sulphide carbonate replacement feeder structures. All prospective conductive anomalies remain open for exploration along trend and at depth.