VANCOUVER - Core Assets Corp., ('Core Assets' or the 'Company') (CSE:CC)(FSE:5RJ)(OTC.QB:CCOOF) is pleased to announce assay results from the 2023 surface sampling campaign at the Silver Lime CRD-Porphyry Project (the 'Silver Lime Project' or 'Silver Lime'), central Blue Property (the 'Blue Property'), Atlin Mining District of NW British Columbia.
HIGHLIGHTS
In 2023, 89 surficial rock samples were collected within the 9.5km x 10km mineralized footprint at the Silver Lime Project.
Core Assets' President & CEO Nick Rodway commented, 'The Team continues to discover significant, high-grade mineralization at surface at Silver Lime enhancing the surficial footprint and metal endowment of the Project. We are currently preparing for another exciting and fully funded exploration season at Silver Lime which will continue to prove how significant this polymetallic deposit is.'
At the Gally Target, located immediately southwest of the Sulphide City Porphyry, high-grade, Ag-Pb-Zn mineralization was extended by 850m along trend to the south increasing the Pete's-Sulphide City-Gally trend to 2.5km in length. Samples of marble hosted massive sulphide carbonate replacement and sulphide-bearing veins in schist were collected along this trend extension in 2023 and graded up to 680g/t Ag, >20% Pb, 14% Zn, 0.55% Cu, 0.75g/t Au, 0.14% Bi and 155ppm Te.
The Company's longest and best drilling intercepts to-date were obtained from the Pete's and Gally targets in 2023. SLM23-028 intersected 6.40m grading 159g/t Ag, 8.7% Pb, 7.7% Zn and 0.23% Cu from 27.43m depth, including 0.57m of 301g/t Ag, 11.5% Pb, 10.7% Zn, and 0.31% Cu, whereas SLM23-048 returned 8m of 139g/t Ag, 3.5% Pb+Zn and 0.18% Cu, including 0.50m of 1,030g/t Ag, 32.4% Pb+Zn, 1.16% Cu, 0.19% Bi and 270ppm Te from surface.
This year's surface sampling program also extended mineralization at the Jackie CRD Target, where 6 out of the top 10 samples were collected, returning up to 1,130g/t Ag with 13.5% Zn, 7.3% Pb, 0.25% Bi and 240ppm Te.
High grade carbonate replacement mineralization was extended for 35m along trend to the northwest at Jackie in 2023, where semi-massive sulphide veins grading up to 347g/t Ag, 9.3% Pb, 5.5% Zn, 0.41g/t Au, 0.36% Cu and 110ppm Te were found crosscutting an intermediate dyke.
We look forward to presenting our 2023 Exploration Summary and announcing our plans for the 2024 Program in the coming weeks.
In 2023, 12 samples returned over 200g/t Ag, 14 greater than 2% Pb, 26 greater than 2% Zn and 14 samples graded over 0.20% Cu.
Superimposed high-grade mineralization styles spanning the full Porphyry-CRD continuum are widespread at the Silver Lime CRD-Porphyry Project.
Steep, district-scale (>1 kilometer) and long-lived structures affect all country rocks surrounding the younger mineralized intrusions at Silver Lime including marble, limestone, and variable schist. These structures served as ore fluid pathways for recurring mineralizing events - meaning that significant base and precious metal occurrences reside together along these deep structures and manifest as massive-to-semi massive replacement style or semi-massive and disseminated vein-hosted styles of mineralization.
The Company has recently obtained ASTER and Sentinel-2 remote sensing data for the entirety of the 1,140 km2 Blue Property Mineral Tenure. Spaceborne multispectral datasets are used to identify mineralogical assemblages from prospective host rocks, alteration halos and target mineralization styles on a regional scale.
Other works in progress include the development of dynamic 3D structural models for our target areas at the Silver Lime CRD-Porphyry Project with SRK Consulting prior to the start of the 2024 field season, and comprehensive geochronological studies in conjunction with academics at the University of Portsmouth, Portsmouth, United Kingdom focusing primarily on U-Pb age dating of carbonate and prospective porphyries and dykes at the Laverdiere and Silver Lime Projects.
About the Silver Lime CRD-Porphyry Project
The Silver Lime Project is predominantly hosted in carbonate rocks of the Florence Range Metamorphic Suite (ca. 1150Ma). Target limestone and marble host rocks are intercalated with upper amphibolite grade metapeltic rocks, quartzite, and amphibole-bearing gneiss. The protoliths to the metasedimentary units include continentally derived clastic strata and platform carbonate, whereas the amphibole-bearing gneiss is interpreted as probable basaltic flows, sills, dykes, and tuffaceous units related to early rifting of the ancestral North America continental margin (i.e., Mihalynuk, 1999). Younger felsic to intermediate intrusive rocks are also widespread within the project area and range from Triassic to Eocene in age. Widespread Eocene magmatic activity was associated with Cordillera-wide, brittle strike-slip faulting. Eocene volcano-plutonic centres in the western Cordillera are known to host porphyry, skarn, and epithermal-type mineralization extending from the Golden Triangle in NW British Columbia to the Tally-Ho Shear Zone in the Yukon (>100 kilometers).
To-date, A total of 9,809.70 metres of exploratory diamond drilling has been completed at the Silver Lime CRD-Porphyry Project. First-pass drilling successfully confirmed the presence of high-grade Ag-Pb-Zn-Cu carbonate replacement (CRD) mineralization at depth, as well as widespread porphyry Mo mineralization and associated mineralized skarn.
The explored extent of the Silver Lime CRD-Porphyry Project currently measures 10KM by 9.5KM. High-grade carbonate replacement mineralization has been observed in folded marble host rocks ranging up to 250-meters-thick. In 2022, Ag-Zn-Pb-Cu-bearing mineralization was intersected near the bottom of Sulphide City hole SLM22-006 near 453 meters depth.
Currently, the Silver Lime Project consists of 7 highly prospective targets that span the complete mineralization spectrum from Porphyry Mo-Cu to Fe-Zn-Cu-Ag massive sulphide skarn (Sulphide City) and Ag-Pb-Zn-Cu-Au carbonate replacement mineralization (Gally, Pete's, Grizzly, Jackie), to distal, sediment-hosted Ag-Au bearing quartz veining and Au-bearing base metal sulphide vein occurrences (Amp, Falcon). Prospecting and surface sampling in 2022 and 2023 more than doubled the number of exposed, high-grade carbonate replacement massive sulphide targets at Silver Lime that remain open in all directions and at depth.
Sampling Protocol, Quality Assurance & Quality Control
All recovered drill core and rock samples were transported by helicopter to the core logging facility in Atlin, British Columbia for processing. Down hole surveys were conducted on all drill holes upon termination, using a Reflex Gyro Sprint downhole survey tool equipped with an azimuth positioning capability. Drill core was typically sampled over two-meter intervals and occasionally reduced in areas of higher visual sulphide mineralization. Core samples were cut in half with an electric core saw, bagged, labelled, sealed, and submitted to ALS Minerals preparation facility in Whitehorse, YT with the remaining core stored in Atlin, BC. Surficial rock samples were bagged, labelled, and sealed prior to submittal to ALS Minerals as well, however no further processing was completed for surface samples in Atlin, BC. Half core samples and rock samples submitted to ALS, were finely crushed, and sieved to
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