Strong signals for upcoming drill program
Canadian base metals explorer Core Assets Corp. (CSE: CC; FRA: 5RJ; OTC.QB: CCOOF) has discovered two large, deep-seated porphyry targets during recent geophysical surveys at its Silver Lime project in northwestern British Columbia. The anomaly beneath the known Sulphide City target measures more than 1.5 kilometres to the northeast-southwest, more than 500 metres to the east-west and extends to a depth of more than 650 metres!
This is the result of a modern three-dimensional direct current induced polarisation (3D-DCIP) geophysical survey over a 2.3 km² area connecting the Sulphide City skarn porphyry target and the Pete’s and Gally CRD targets. (see Figure 1) A 2024 follow-up with deeper exploration drilling is planned to extend and test these significant geophysical anomalies. Drill results for the Jackie and Grizzly CRD targets will be released in the coming weeks.
Nick Rodway, President & CEO of Core Assets, commented: “Our new IP data indicates that the drilling conducted at Sulphide City in 2022, which encountered anomalous copper at the bottom of hole SLM22-006, was not deep enough to test the core of this large anomaly below Sulphide City. The short CRD drilling completed in 2023, which returned silver values greater than 1kg/tonne at Pete’s and Gally, was drilled along the margins of several highly conductive and chargeable bodies that show continuity along trend and increasing thickness to depths greater than 100m. Now that we have full funding, we can test these exciting features with deeper drilling and continue to connect the dots of this robust and high-grade CRD porphyry system at Silver Lime.”
Figure 1: The geophysical survey focused on the 2.4 kilometre section between the known Pete’s, Sulphide City and Gally CRD targets. The strong chargeability anomaly is located below the current drilling depth on the Sulphide City porphyry skarn target and appears to extend to the east.
The 2023 IP survey shows that hole SLM22-006 (see Figure 1) intersected the interpreted top of the anomaly at the easternmost margin in 2022. Drill core assays show an increase in Cu content at depth at Sulphide City. The bottom of hole SLM22-006 returned 22.25m of 46g/t AgEq and 0.35% CuEq from 447.75m depth, including 0.67m of 323g/t AgEq and 2.5% CuEq.
Figure 2: 3D block model highlighting chargeability values >40mV/V (purple) within the study area (see Figure 1). The red colour represents high conductivity and thus shows the potential extent of near-surface massive sulphide-carbonate replacement and/or skarn bodies in the study area in the 3D block model.Porphyry targets are generally characterised by low conductivity but moderate to high chargeability values. CRD and skarn mineralisation exhibit high conductivity and chargeability due to the predominant massive sulphides and their continuous and coherent nature.
Conclusion: The IP measurements show a strong geophysical anomaly below the known CRD target Sulphide City, which starts at a depth of 650m. This anomaly is also interpreted as a possible porphyry body because a series of chargeable zones can be traced to the surface. In addition, there is much to suggest that the company has at least touched the target with its SLM22-006 in 2022. Geologists are now convinced that the near-surface skarn and the deeper-lying porphyry together form a geological system. These are ideal conditions for the upcoming exploration campaign next year. Imagine Core Assets discovers a brand new porphyry ore body!
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In accordance with §34b WpHG i (Germany) and §48f paragraph 5 BörseG (Austria) we would like to point out that clients, partners, authors and employees of GOLDINVEST Consulting GmbH hold shares in Core Assets and therefore a conflict of interest exists. Furthermore, we cannot rule out the possibility that other market letters, media or research companies may discuss the stocks we recommend during the same period. This may result in the symmetrical generation of information and opinions during this period. Furthermore, there is a consultancy or other service agreement between Core Assets and GOLDINVEST Consulting GmbH, which gives rise to a conflict of interest.
