KORE Mining drills 76.5 metres of 1.1 g/t gold at FG Gold Project

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KORE Mining Ltd. [KORE-TSXV; KOREF-OTCQB] provides an update and early results from the FG Gold Project in the Cariboo Region of central British Columbia. Eight large diameter (HQ) core drill holes for a total of 1,577 metres have been completed. KORE intends to continue drilling once spring break-up is complete in mid-June. Assays from the top of the first hole are included in this news release.

Highlights

FG-20-368 intercepts 76.5 metres of 1.1 g/t gold starting at 5.5 metres including;

• 12.5 metres of 1.2 g/t gold at 5.5 metres down hole;
• 8.0 metres of 1.6 g/t gold at 27 metres down hole;
• 26.0 metres 2.0 g/t gold at 56 metres down hole (including 1.0 metre of 28.4 g/t); and
• Assays pending from bottom 40 metres which intercepted three additional zones of quartz veining below existing resource

FG-20-369 intercepted 13 quartz veins between 5.5 and 250 metres down-hole which tested an additional 100 metres below the previous resource.

The remaining holes FG-20-370 to FG-20-375 (assays pending) all intercepted zones of quartz veining, within the existing resource and newly identified quartz veins below the existing resource, which included eight total incidences of visible gold being identified in core logging. KORE Mining will release assays from the lower section of FG-20-368 and the remaining holes as they become available. See company website for complete assays.

KORE CEO Scott Trebilcock stated, “This is an exciting start to our exploration program at FG Gold. The objective is to better define structural controls and extend the shallow known mineralization at depth. We believe with continued drilling, there is potential to increase the grade while adding to the existing FG Gold resource.”

The 20-kilometer trend is defined by gold in soils and geophysics that traces the mineralized rock group around the regional syncline. The project has only been shallowly drilled where the mineralized rock group comes to surface. Past drilling averages only 93 metres deep into a low to moderately plunging sedimentary host rock.  Mineralization is open at depth and along almost the entire trend. Due to coarse visible gold, metallic screening assays provide a much more representative sample versus conventional fire assays. Historical drilling and assays had limited and sporadic metallic screen analyses which may have underestimated historical gold grades.

The FG Gold project consists of 35 claims, totaling 13,008 hectares, in the eastern Cariboo region of central British Columbia, approximately 100 km east of Williams Lake. The project is at low elevation and accessible by forestry roads.  FG Gold hosts an orogenic gold deposit on the northeast limb of the Eureka syncline. The southwest limb and hinge zone are underexplored.  The Project also hosts copper-gold porphyry mineralization at the Nova Zone, discovered by KORE in 2018.

The current resource at the FG Gold Project is as follows:

Classification Size (tonnes) Grade (g/t) Au (oz) Au Cutoff (g/t)
Measured 5,600,000 0.812 145,000 0.50
Indicated 9,570,000 0.755 231,000 0.50
Inferred 27,493,000 0.718 634,900 0.50

At the close of trading on May 19, shares of KORE Mining gained 11 cents, or 16.4%, to close at $0.78 on a volume of 1,067,400 shares traded.

 


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