Significant Progress

3,600 meters of diamond drilling in 10 boreholes across four drilling targets, as well as the mapping of newly identified zones on the Jackie and Pike Valley targets, have once again significantly advanced the understanding of the complex mineralization system on the CRD-skarn-porphyry Silver Lime project in the Atlin Mining District in northwestern British Columbia during the past 2024 season. More than ever, the geologists at Core Assets (CSE:CC; FSE:5RJ; OTC.QB:CCOOF) are convinced that the rich surface mineralization along a 2.6-kilometer trend indicates a deeply buried mineralization system, even though two important boreholes on the main Sulphide City/Whaleback target had to be terminated prematurely.

An important realization is that the entire mineralized system dips steeply to the west. This gives Core Assets a strong, reliable vector towards the mineralized core at depth for future exploration. It was also determined that the mineralized system is multi-phase and long-lived, remaining open for exploration. Currently, only a visual assessment of the drill cores is possible. Laboratory analyses are still pending.

In his initial assessment, Nick Rodway, President CEO of Core Assets, said: “We have made significant progress in understanding and discovering the Silver Lime mineralization system. The data collected so far has greatly strengthened our confidence in the presence of a deeply buried mineralization system. Furthermore, regional prospecting has uncovered exciting new perspectives for future exploration.”

Figure 1: (left) Plan view map showing the progress of diamond drilling on the Silver Lime project; (right) Cross-section through the 2.6 km long mineralized trend of Silver Lime towards the west – both images refer to the chargeability voxel model (mV/V) derived from the 2023 3D-DCIP survey.

In 2024, investigations were conducted in four target areas on the Silver Lime project. The 2024 drilling campaign was designed to test the mineralized extent of the Sulphide City Mo-Cu porphyry and associated skarn mineralization at depths greater than 500 meters and to test the high chargeability anomalies identified during the 2023 3D-DCIP survey. Targets tested by drilling in 2024 included the Sulphide City Mo-Cu porphyry target, the Sulphide City – Whaleback Zn-Cu-Ag skarn target, and two newly identified epithermal vein occurrences located outside the Sulphide City porphyry at Pike Valley and Pete’s North, overlying the high chargeability anomaly (120mV/V) identified in 2023. Together, these targets form a 2.6-kilometer long trend of porphyry-skarn-epithermal mineralization at Silver Lime.
New Pike Valley Target

Pike Valley (originally Gally South) represents a newly defined zone and is located about 1 km south of the Sulphide City porphyry. In 2023, base metal sulfide veins hosted in an intermediate intrusion geochemically unrelated to the Sulphide City Porphyry yielded up to 260g/t Ag with 6.5% Pb, 3.8% Zn, 0.10% Cu and 0.75g/t Au (F421207).

Four additional diamond drill holes were completed on the Sulphide City porphyry target and in Pike Valley. At Sulphide City, both drill holes intersected the upper part of the main porphyry system: SLM24-063 and SLM24-064 intersected extensive quartz-sericite-pyrite alteration associated with an increase in porphyry vein density, sulfidation, and Mo-Cu mineralization at depth. These holes drilled into zones of intense faulting and veining and were terminated prematurely after significant deviations.

At Pike Valley, two shallow holes were drilled to test the grade potential of the highly sulfidized base metal sulfide veins discovered at surface in 2023: SLM24-065 and SLM24-066 intersected numerous centimeter-scale, high-sulfidation epithermal base metal sulfide veins containing coarse-grained sphalerite with pyrite, feathered galena, and local chalcopyrite. The high-sulfidation veins are associated with increasing silicification of the surrounding rock and demagnetization of the unique intermediate intrusive host.

A new zone of interest, containing multiple quartz-arsenopyrite veins up to 50 cm thick, apparently associated with large-scale north-south trending structures, was identified during regional prospecting in the 2024 exploration season. This zone is located approximately 6 km north of the main Sulphide City mineralization system. Preliminary mapping in this target area has identified intrusive rock comparable to that in the Sulphide City target area.

Conclusion: Core Assets is in the process of decoding the DNA of its CRD-Skarn-Porphyry Silver Lime project. While laboratory analyses are still pending, one of the literally directional insights for future exploration of the continuously growing project appears to be that the entire mineralization dips steeply to the west. This provides the team with a strong vector towards the mineralized core at depth for future exploration. The new targets confirmed in 2024 promise plenty of upside for future exploration.