Core Assets Corp. [CC-CSE; CCOOF-OTCQB; 5RJ-FSE] reported assay results from selected high-grade carbonate replacement mineralization (CRD) encountered in two drill holes located 2km apart at the Silver Lime porphyry-CRD project, central Blue property, Atlin mining district, northwest British Columbia.
SLM22-011 (Grizzly CRD Target) returned 1.97 mteres grading 661 g/t silver, 13.2% zinc, 14.0% lead, 0.27% copper, and 0.22 g/t gold, including 1.16 metres of 1,145 g/t silver, 23.5% zinc, 23.2% lead, 0.52% copper, 0.37 g/t gold, whereas SLM22-001 (Jackie CRD Target) returned 17.19 metres of 28 g/t silver, 1.2% zinc, 1.4% lead, and 0.10% copper, including 1.25 metres of 215 g/t silver, 9.9% zinc, 8.9% lead, and 0.36% copper.
These zones were selected for rush analysis to determine overall grade ranges to guide the drilling and evaluation of over 250 additional mineralized CRD outcrops identified in the 6.6km x 1.8km mineralized project area. Assays for the balance of these two holes, plus 13 additional holes, totalling 5,355 metres are pending.
Holes SLM22-001 and SLM22-011 were part of the first-pass diamond drilling of two of the >250 exposed mineralized structures cross-cutting favourable host rocks and surrounding one or more molybdenum-copper porphyry centres within the mineralized area observed at the Silver Lime Project. These high-grade intercepts show that surface mineralization continues to depth and the preliminary select assays indicate that base and precious metal grades increase with depth.
“The greater than 47% combined base and precious metal content of the Grizzly CRD intercept is the highest-grade result recovered from the Silver Lime Project to-date and puts the Silver Lime Project on the map for high-grade CRD projects globally,” said Nick Rodway, president and CEO. “This CRD mineralization fits well into the Porphyry-CRD continuum model that we are revealing through drilling and gives us a much better understanding of the system’s plumbing network. We look forward to good results from the remaining drill holes and integrating what we’ve learned in 2022 into our future drill targeting for the additional >250 exposed CRD occurrences at Silver Lime.”
Three well-defined target areas exist at the Silver Lime Porphyry-CRD Project and include the Jackie, Sulphide City, and Grizzly targets. The Jackie Target represents a distal expression of Ag-Pb-Zn-Cu CRM that consists of numerous massive-to-semi massive sulphide occurrences measuring up to 30 metres long and 6 metres wide and comprise an approximate area of 400 metres by 380 metres, within the extensive 6.6-km by 1.8-km mineralized zone that remains open in multiple directions. Many sulphide occurrences at Jackie are clustered and hosted within NE-SW trending faults and fault splays, proximal to undeformed felsic dykes oriented sub-parallel to faulting.
In 2022, detailed geological mapping and diamond drilling discovered a Mo-Cu-bearing and causative porphyry intrusion. The Sulphide City Target boasts an average surficial grade of 13.3 g/t silver, 0.34% copper, and 3.9% zinc (83 rock samples) that remains open. The Grizzly Ag-Zn-Pb-Cu-Au CRD Target represents the largest, untested surficial exposure of CRM globally. Carbonate replacement manto, chimney, and dyke-contact skarn mineralization at Grizzly are observable at surface across open strike lengths of up to 1 km, and at widths of over 5 metres. Average surficial grade at the Upper Grizzly CRD Target yields values of 164.7 g/t silver, 0.42% copper, 3.8% lead and 7.1% zinc over 450 metres strike length, whereas the Lower Grizzly Manto has an average graded of 70. g/t silver, 0.36% copper, 0.2% lead, and 7.1% zinc over an inferred strike length of 1km.
Core Assets holds 100% ownership in the Blue property, which covers a land area of111,648.8 hectares. 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.