Core Assets hits massive Zn-Cu-Ag sulphide at Silver Lime and is now testing porphyry to 1,000 meters depth

Core Assets hits massive Zn-Cu-Ag sulphide at Silver Lime and is now testing porphyry to 1,000 meters depth
Core Assets Corp. (CSE:CC; FSE:5RJ; OTC.QB:CCOOF) is currently drilling the deepest hole ever drilled at the CRD polymetallic Silver Lime porphyry project in the Atlin Mining District of northwestern British Columbia. The SLM24-63 deep hole is expected to penetrate to a depth of 1,000 metres for the first time and will test the potential for porphyry mineralization of the Sulphide City Mo-Cu porphyry. The geologists at Core Assets believe that they now have a good understanding of the limits of the porphyry system thanks to several years of preliminary work. The measured geophysical anomaly correlates well with the known extents of the Sulphide City Mo-Cu porphyry. In the remaining six holes drilled early in this year’s exploration campaign (holes SLM24-57 to SLM24-62), geologists have already observed numerous intercepts of massive Zn-Fe-(Cu-Ag-Pb) sulphide skarn mineralization as well as intense porphyry-style vein densities. To date, approximately 2,014 meters of diamond drilling has been completed at three locations on the Silver Lime project in 2024 (Figure 2). Further diamond drilling totaling 3,000 meters is currently underway. The laboratory evaluation of the drilling is still pending.

Nick Rodway, President & CEO of Core Assets, commented: “The 2024 drilling season has been a great success for the Core team. At Sulphide City, we defined the northern mineralized skarn boundary to the porphyry system and observed numerous intercepts of massive Zn-Fe-(Cu-Ag-Pb) sulphide skarn mineralization as well as intense porphyry-style vein densities. Surface rock and drill core assays will be released as they become available; until then, diamond drilling continues around the clock at the Silver Lime project.”

Drill holes SLM24-060 to 062 were planned to test the near-surface and high-grade zinc skarn deposit at the Sulphide City – Whaleback target. SLM24-061 intersected 11.8m of continuous sphalerite-rich (Zn) massive sulphide exoskarn mineralization with chalcopyrite (Cu) and galena (Pb/Ag) from surface (Figure 1). SLM24-062 obliquely intersected approximately 0.5m of massive sulphide skarn mineralization and an intense fault zone interpreted as a feeder structure to the Whaleback skarn system. Hole SLM24-060 intersected multiple zones of massive sulphide skarn mineralization with a total length of 11.6m from surface to a depth of approximately 39m, ending in endoskarn alteration.

SLM24-057 was drilled to test the Sulphide City porphyry immediately north of hole 2022. The hole encountered disseminated to locally semi-massive sphalerite-chalcopyrite-galena-bearing skarn alteration from surface to a depth of approximately 450 meters, marking the contact between the surrounding metasedimentary rocks and the Sulphide City Mo-Cu porphyry (Figure 2). Hole 057 was the first hole completed this season and deviated from the planned drilling direction due to strong faulting and repeated differences in rock composition 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 (>120 mV/V) anomaly. These holes intersected faulted and extremely pyritized hornfels containing large amounts of arsenopyrite, sulphide veins and vein stockwork. These intercepts are similar to the veins and mineralized zones that host high-grade Ag and Au mineralization at the surface of the Amp target, which is located less than 1 kilometer south-southeast of the drill site.

Summary: Core Assets Corp. is building on the technical advances made over the past 50 years in understanding porphyry, skarn and carbonate replacement deposits in its exploration. The current SLM24-63 well has been extensively prepared. It is not only the deepest in the history of the project, but arguably the most important. Confirmation of a new porphyry system would be a game changer for Core Assets.