Is This the Game Changer?
Core Assets Intersects Massive Zn-Cu-Ag Sulfide at Silver Lime and Now Tests Porphyry to 1,000 Meter Depth
Core Assets Corp. (CSE:CC; FSE:5RJ; OTC.QB:CCOOF) is currently drilling the deepest hole ever drilled on the polymetallic CRD-porphyry Silver Lime project in the Atlin Mining District in northwestern British Columbia. The deep drill hole SLM24-63 is intended to penetrate up to 1,000 meters deep for the first time and test the potential of the porphyry mineralization of the Mo-Cu porphyry Sulphide City. Core Assets’ geologists believe that through their multi-year preliminary work, they now understand the boundaries of the porphyry system well. The measured geophysical anomaly correlates well with the known extents of the Sulphide City Mo-Cu porphyry. In the remaining six drill holes at the beginning of this year’s exploration campaign (holes SLM24-57 to SLM24-62), geologists have already observed numerous sections with massive Zn-Fe-(Cu-Ag-Pb) sulfide skarn mineralization as well as intense porphyry-like vein densities. To date, approximately 2,014 meters of diamond drilling have been completed at three locations on the Silver Lime project in 2024 (Figure 2). Further diamond drilling totaling 3,000 m is currently underway. Laboratory analysis of the drill cores 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 have defined the northern mineralized skarn boundary to the porphyry system and observed numerous sections of massive Zn-Fe-(Cu-Ag-Pb) sulfide skarn mineralization as well as intense porphyry-like vein densities. Surface rock and drill core assays will be released as they become available; until then, diamond drilling will continue around the clock on the Silver Lime project.”
Drill holes SLM24-060 to 062 were planned to test the near-surface and high-grade zinc skarn occurrence at the Sulphide City – Whaleback target. SLM24-061 intersected 11.8 m of continuous sphalerite-rich (Zn) massive sulfide exoskarn mineralization with chalcopyrite (Cu) and galena (Pb/Ag) from surface. SLM24-062 intersected approximately 0.5 m of massive sulfide skarn mineralization at an angle, as well as an intense fault zone interpreted as a feeder structure to the Whaleback skarn system. Hole SLM24-060 intersected multiple zones of massive sulfide skarn mineralization totaling 11.6 m from surface to a depth of about 39 m, ending in endoskarn-like alteration.
SLM24-057 was laid out to test the Sulphide City porphyry immediately north of the 2022 drill hole. The hole encountered disseminated to locally semi-massive sphalerite-chalcopyrite-galena-bearing skarn alteration from surface to a depth of about 450 meters, marking the contact between the surrounding metasedimentary rock and the Sulphide City Mo-Cu porphyry (Figure 2). Hole 057 was the first completed hole 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 sulfide vein system identified above the very high chargeability anomaly (>120 mV/V). These holes intersected distorted and extremely pyritized hornfels containing large amounts of arsenopyrite, sulfide veins, and vein stockwork. These intersections resemble the veins and mineralized zones that host high-grade Ag and Au mineralization at the surface of the Amp target, located less than 1 kilometer south-southeast of the drill site.
Conclusion: Core Assets Corp. is leveraging the technical advances made over the past 50 years in understanding porphyry, skarn, and carbonate replacement deposits in its exploration. The ongoing drill hole SLM24-63 has been extensively prepared. It is not only the deepest in the project’s history but probably also the most important. Confirmation of a new porphyry system would be a game changer for Core Assets.
