Porphyry source of mineralisation suspected at depth

Core Assets Corp. (CSE:CC; FSE:5RJ; OTC. QB:CCOOF) is exploring a 9 km by 10 km area in the Atlin Mining District of northwestern British Columbia that the Company believes could host multiple polymetallic deposits and multiple deposit types, both near-surface high-grade carbonate replacement deposits (“CRD deposits”) and deeper porphyry targets interpreted to be the source of mineralisation. In eight short diamond drill holes in 2023 on the Jackie and Grizzly CRD targets, part of the Silver Lime CRD porphyry project on the Central Blue Property, the Company encountered the expected massive and semi-massive sulphide mineralisation near surface in seven of eight holes. Although only 965 metres were drilled in total, the drill cores again provided important inferences for the model of a large mineralised porphyry at depth. The best hole returned 4.55 metres of 116 g/t Ag, 11.7% Pb+Zn and 0.41% Cu on the Jackie target.
Core Assets has been selected to present drill core from its Silver Lime project at this year’s Association for Mineral Exploration (“AME”) Roundup Core Shack on January 24 and 25 at the Vancouver Convention Centre at Core Shack Booth 926.
CEO Nick Rodway commented: “Results from the 2023 exploration program show strong evidence for the presence of mineralisation styles covering the entire porphyry CRD spectrum at the Jackie target and across the Silver Lime project. The Silver Lime porphyry CRD project contains impressive and widespread occurrences of six target metals, including silver, copper, zinc, lead, gold and molybdenum, within a 9 x 10 kilometre mineralised footprint that has the potential for multiple deposits. Exciting assay results from the 2023 surface sampling programme will be released shortly.”

The map shows the geological drilling with coloured markers for different minerals and text boxes describing results and locations for 2023 on the Jackie target.
Figure 1: Map shows 2023 drill highlights at the Jackie CRD target including additional high-grade intercepts observed during the 2022 and 2023 diamond drilling campaigns at the Silver Lime CRD porphyry target. The trend remains open in multiple directions and at depth.

Porphyry source of mineralisation suspected at depth

The prominent pebble dykes or tabular tubes of fractured (brecciated) rock found at the Jackie, Gally and Pete’s targets are strong indicators of ongoing magmatic-hydrothermal activity and the presence of a large mineralised porphyry at depth. Locally, intrusive rock clasts similar to the Sulphide City Porphyry have been observed in pebbles on the Pete’s Target. Further geochemical and geochronological studies are underway to determine the relationships between intrusive units and mineralisation styles across the Blue property.

Geological diagram of magmatic-hydrothermal breccia pipes with annotated structures, mineralisation and waterways in green background.
Figure 2: Conceptual model for magmatic hydrothermal breccia pipes to illustrate the relationship between pebbles and their porphyritic sources (modified from Corbett and Leach, 1998).

Conclusion: Over the past 50 years there has been considerable progress in the understanding of porphyry, skarn and carbonate replacement deposits, particularly in the Golden Triangle of British Columbia. Core Assets consistently applies this knowledge to its exploration model. To date, a total of 9,825 metres of exploration diamond drilling has been completed on the Silver Lime CRD porphyry project. The first-pass drilling confirmed the presence of high-grade Ag-Pb-Zn-Cu carbonate replacement mineralisation (CRD) at depth as well as widespread porphyry molybdenum mineralisation and associated mineralised skarn. The explored extent of the Silver Lime CRD porphyry project currently measures 10 km by 9.5 km and averages 83 g/t Ag, 0.22% Cu, 1.8% Pb, 3.4% Zn and 0.16 g/t Au (700 samples) at surface. In the coming drilling season, Core Assets intends to drill specifically for the porphyry sources of mineralisation.

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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.

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