Core Assets drills massive sulphides at Silver Lime, British Columbia

Core Assets Corp. [CSE-CC; OTCQB-CCOOF; FSE-5RJ] provides an exploration update that includes visual results from diamond drill core collected from the Sulphide City Porphyry-Skarn Target and Whaleback Skarn Showing at the Silver Lime CRD-Porphyry Project central Blue Property, Atlin Mining District of northwestern British Columbia.

Highlights: 2,014 metres of diamond drilling (HQ/NQ) has been completed across three locations at the Silver Lime Project in 2024.

Drill holes SLM24-060 through 062 were planned to test the near surface and high-grade Zinc Skarn Showing at the Sulphide City – Whaleback Target. In 2021, channel sampling was completed over four locations along a north-northwest trend at Whaleback and returned 5.3 metres of 10.2% Zn, 0.29% Cu. 14 g/t Ag.

SLM24-060: Intersected multiple zones of massive sulphide skarn mineralization, totalling 11.6 metres combined length, from surface to approximately 39 metres depth and ended in endoskarn-style alteration.

SLM24-061: Intersected 11.8 metres of continuous sphalerite-rich (Zn) massive sulphide exoskarn mineralization with chalcopyrite (Cu) and galena (Pb/Ag) from surface.

SLM24-062: Obliquely intersected approximately 0.5 metre of massive sulphide skarn mineralization as well as an intense fault zone interpreted as the feeder structure to the Whaleback Skarn system.

SLM24-057: Designed to test the Sulphide City Porphyry, immediately north of the 2022 collar location. The hole encountered disseminated to locally semi-massive sphalerite-chalcopyrite-galena-bearing skarn alteration from surface to approximately 450 metres depth – marking the contact between surrounding metasedimentary country rock and the Sulphide City Mo-Cu-Porphyry. Hole 057 was the first hole completed this season and deviated from the intended drilling direction due to intense faulting and repetitive differences in rock competency within the contact zone.

Holes SLM24-058 and 059 were drilled northeast of the Pete’s Target in a newly discovered sulphide vein system identified above the very-high chargeability anomaly (>120 mV/V). These holes intersected faulted and extremely pyritized hornfels containing generous amounts of arsenopyrite, sulphide veins and vein stockwork. These intersections resemble the veining and mineralized zones hosting high-grade Ag and Au mineralization at surface at the Amp Target – located less than 1 km south-southeast of the drill site.

SLM24-063: Currently in progress and is designed to test the porphyry mineralization potential of the Sulphide City Mo-Cu porphyry at depths greater than 1,000 metres. A magnetic low, interpreted as a zone of strong hydrothermal alteration/magnetite destruction, extends to depth below the Gally and Sulphide City high chargeability anomalies and correlates well with the known extents of the Sulphide City Mo-Cu Porphyry.

Six diamond drill holes have been completed at the Silver Lime CRD-Porphyry Project in 2024. A projected total of 3,000 metres of additional diamond drilling is currently underway.

Nick Rodway, President and CEO, commented, “The 2024 drilling season has been a huge success for the Core Team. At Sulphide City we have defined the northern mineralized skarn boundary to the porphyry system and observed numerous intervals of massive Zn-Fe-(Cu-Ag-Pb) sulphide skarn mineralization and intense porphyry-style vein densities. Surface rocks and drill core assays will be released as they become available; until then, diamond drilling continues 24/7 at the Silver Lime Project.”

Core Assets holds 100% ownership in the Blue Property, which covers a land area of 114,074 hectares (~1,140 km²). The project lies within the Atlin Mining District, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation.

The Blue Property hosts a major structural feature known as The Llewellyn Fault Zone (LFZ). This structure is approximately 140 km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the Blue Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980s.

The LFZ plays an important role in mineralization of near surface metal occurrences across the Blue Property.