Core Assets Corp. [CC-CSE] has released assay results from the first two diamond drill holes completed at the Laverdiere iron-copper-gold skarn-porphyry project, eastern Blue property, Atlin mining district of northwest British Columbia.
Assay results from the first two diamond drill holes completed at the French Adit have successfully confirmed massive to semi-massive Fe-Cu-Au skarn and local porphyry-style copper mineralization and alteration that remains open at depth.
LAV22-001 was drilled to the east for 268 metres and intersected 48.5 metres of 1.03% CuEq (0.90% Cu, 5.80 g/t silver, 0.11 g/t gold) within 95.05 metres of 0.54% CuEq (0.47% Cu, 3.24 g/t Ag, 0.06 g/t Au) from surface, confirming the presence of a significant, high-grade copper and associated gold skarn.
LAV22-001 also intersected 1.51 metres of 4.59 g/t Au and 0.38 g/t Ag in sheared mafic volcanic from 163.49 metres depth – confirming the presence of high-grade gold hosted within the prolific Llewellyn Fault Zone.
LAV22-002, the deepest drill hole completed on the property to-date, was oriented southwest and intersected 225.50 metres of alternating marble, Fe-Cu-Au skarn, and mineralized endoskarn. Potassically altered and locally Cu-bearing granodiorite persisted from 225.50 metres to EOH (402.30m).
LAV22-002 returned 210.50 metres of 0.19% CuEq (0.05 g/t Au, 1.76 g/t Ag, 0.11% Cu) from 15.00 metres depth, including 0.57 metres of 3.33% CuEq (0.20 g/t Au, 52.80 g/t Ag, 2.74% Cu) from 20.35 metres depth, and 2.00 metres of 3.39% CuEq (0.30 g/t Au, 18.80 g/t Ag, 3.01% Cu) from 104.00 metres depth.
Assays are still pending for holes LAV22-003 to LAV22-006, all of which intersected similar high temperature skarn and porphyry-style mineralization, veining, and alteration spanning over an 850 metres strike length.
Diamond drilling efforts continue at the Sulphide City Target at the Silver Lime CRD Project with plans increase meterage to greater than 5,000 metres for 2022.
Nick Rodway, President and CEO, commented, “The goal of drilling in the French Adit area was to determine the depth extent of historic copper and gold skarn mineralization from surface and to test the porphyry Cu-Mo potential of the Laverdiere intrusion. These results have confirmed and over exceeded our expectations – especially when considering the shear-hosted gold hit within the LFZ. High-grade copper skarn and endoskarn occurrences extending from surface to over 200 metres depth reside in contact with a locally intensely potassic altered and mineralized causative intrusion at Laverdiere, that boasts a large resistive geophysical signature and remains open for exploration. Drilling completed to-date has only begun to scratch the surface and indicates the presence of a potentially large porphyry system. We look forward to receiving the remaining assay results at Laverdiere and planning a more aggressive diamond drilling program for 2023.”
Core Assets currently holds 100% ownership in the Blue Property, which covers a land area of111,648.8 ha (~1,116 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.