Core Assets Corp., ('Core Assets' or the 'Company') (CSE:CC)(FSE:5RJ)(OTC.QB:CCOOF) is pleased to present assays from the first-ever drilling program at Pete's CRD Target ('Pete's Target' or 'Pete's'), part of 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
Drilling at Pete's CRD Target has confirmed a new near/at surface CRD discovery consisting of multiple high-grade zones over 10 separate drill holes totaling 28m and is open in all directions. The drill continues to turn at Silver Lime.
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.
SLM23-019 intersected 2.12m grading 260g/t Ag, 5.2% Pb, 5.9% Zn, and 0.19% Cu from 34.53m depth, including 0.60m of 472g/t Ag, 6.8% Pb, 8.3% Zn, 0.33% Cu, and 0.12g/t Au.
SLM23-016 intersected 3.33m of 138g/t Ag, 7.2% Pb, 7.3% Zn, and 0.54% Cu from surface, including 1.25m of 241g/t Ag, 13.4% Pb, 17.0% Zn, and 0.77% Cu.
SLM23-020 intersected 4.20m of 111g/t Ag, 2.8% Pb, 3.2% Zn, and 0.10% Cu from 32.30m depth, including 1.00m of 296g/t Ag, 7.5% Pb, 9.5% Zn, and 0.25% Cu.
Core Assets' President & CEO Nick Rodway commented, 'The purpose of the 2023 drilling is to show how large and high-grade this system really is. Our results prove that the substantial silver, lead, and zinc grades observed at surface continue along trend and with depth. Being able to achieve results such as these this early in our project is a huge success for our team. We can't wait to begin drilling at the Gally CRD Target, which is one of our newest surficial discoveries and contains some of the highest-grade silver (>1,000g/t) sampled at the project to-date. High-grade mineralization at the Gally Target runs for more than 2 kilometers along the same trend as Pete's. We look forward to continuing to provide updates as they become available.'
Preliminary assay results from Pete's CRD Target have confirmed the discovery of a new high-grade Pb-Ag-Zn-Cu+/-Au CRD (carbonate replacement) zone at shallow depths. Currently 1,669 meters of diamond drilling (15 holes) has been completed across three drill pad locations, and within a 100-meter step-out. This release represents 28m of the highest grade (visually) mineralized zones encountered. Drilling was designed to test the down-dip extension of marble-hosted carbonate replacement and skarn mineralization associated with multiple generations of intrusions.
Pete's CRD Target represents an additional Pb-Ag-Zn+/-Cu-Au discovery at Silver Lime, residing along a 2.4-kilometer-long mineralized trend, that also includes the Sulphide City Porphyry-Skarn and high-grade Gally CRD Target.
Drilling has now begun at the Jackie Target and will be followed by the Gally CRD Target to test the mineralization potential at depth of a recently exposed and continuous carbonate replacement manto. Surface samples collected from outcropping massive sulphide collected at the Gally CRD Target in 2022 graded up to 1,115g/t Ag.
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).
A total of 5,565 metres of exploratory diamond drilling was completed at the Silver Lime CRD-Porphyry Project during the Company's inaugural drilling campaign in 2022. 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 and boasts an average surficial grade of 83g/t Ag, 1.8% Pb, 3.4% Zn, 0.22%Cu and 0.16g/t Au (700 samples). 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 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 was 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. Half core samples were finely crushed and sieved to
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