Core Assets Corp. [CC-CSE; CCOOF-OTCQB; 5RJ-FSE] reported assays from the first-ever drilling program at Pete’s CRD (carbonate replacement deposit) target, part of the Silver Lime CRD porphyry project on the central Blue property in the Atlin mining district of northwestern 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.
Nick Rodway, president and CEO, 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 (>1,000 g/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-Cuplus or minusAu CRD (carbonate replacement) zone at shallow depths. Currently 1,669 metres of diamond drilling (15 holes) has been completed across three drill pad locations, and within a 100-metre step-out. This release represents ~28 metres 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-Znplus or minus 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 (Figures 2 & 3). Surface samples collected from outcropping massive sulphide collected at the Gally CRD Target in 2022 graded up to 1,115 g/t Ag.
Geophysical data highlights linear magnetic anomalies that extend from the south of the Silver Lime Project, through the Gally and Grizzly CRD targets, and is locally coincident with the known boundaries of the Sulphide City Mo (-Cu) porphyry and high-grade skarn.
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
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.
Core Assets holds 100% ownership in the Blue Property, which covers a land area of114,074 hectares.