Porphyritic Source of Mineralization Suspected at Depth

Core Assets Corp. (CSE:CC; FSE:5RJ; OTC. ) is exploring a 9 by 10 kilometer area in the Atlin Mining District in northwestern British Columbia, which the company believes could host multiple polymetallic deposits and various deposit types. These could include both near-surface high-grade carbonate replacement deposits (“CRD deposits”) as well as deeper-lying porphyry targets, which are interpreted as the source of mineralization.

With eight short diamond drill holes in 2023 on the CRD targets Jackie and Grizzly, which are part of the CRD-Porphyry Project Silver Lime on the central Blue property, the company encountered the expected massive and semi-massive sulphide mineralization near the surface in seven out of eight drill holes. Although only 965 meters were drilled in total, the drill cores again provided important insights for the model of a large, mineralized porphyry at depth. The best drill hole delivered 4.55 meters with 116 g/t Ag, 11.7% Pb+Zn and 0.41% Cu on the Jackie Target.

Core Assets has been selected to present the drill cores from its Silver Lime project at this year’s Association for Mineral Exploration (“AME”) Roundup Core Shack on January 24th and 25th at the Vancouver Convention Centre at Core Shack Stand 926.

CEO Nick Rodway commented: “The results of the 2023 exploration program show clear evidence of the presence of mineralization styles that cover the entire porphyry-CRD spectrum at the Jackie target and throughout the Silver Lime project. The CRD-Porphyry Project Silver Lime contains impressive and widespread occurrences of six target metals, including silver, copper, zinc, lead, gold, and molybdenum, within a 9 x 10 kilometer mineralized footprint that has the potential for multiple deposits. The exciting assay results from the 2023 surface sampling program will be released shortly.”

Porphyritic Source of Mineralization Suspected at Depth

The conspicuous silica dykes or tabular pipes of brecciated rock found on the Jackie, Gally, and Pete’s targets are strong indicators of ongoing magmatic-hydrothermal activity and the presence of a large, mineralized porphyry at depth. Locally, intrusive rock clasts similar to the Sulphide City Porphyry were observed in silica stones on the Pete’s Target. Further geochemical and geochronological studies are underway to determine the relationships between intrusive units and mineralization types across the entire Blue property.

Conclusion: In the past 50 years, there have been considerable advances in understanding porphyry, skarn, and carbonate replacement deposits, especially in British Columbia’s Golden Triangle. Core Assets is consistently applying these insights to its exploration model. To date, a total of 9,825 meters of exploratory diamond drilling has been conducted on the CRD-Porphyry Project Silver Lime. These first-pass drillings confirmed the presence of high-grade Ag-Pb-Zn-Cu carbonate replacement mineralization (CRD) at depth, as well as widespread porphyritic molybdenum mineralization and associated mineralized skarn. The explored extent of the CRD-Porphyry Project Silver Lime currently measures 10 km by 9.5 km and shows an average grade of 83 g/t Ag, 0.22% Cu, 1.8% Pb, 3.4% Zn and 0.16 g/t Au (700 samples) at the surface. In the upcoming drilling season, Core Assets aims to specifically drill for the porphyritic sources of mineralization.