Efficient Exploration Strategy
In this year’s drilling season, Core Assets Corp. (CSE:CC; FSE:5RJ; OTC.QB:CCOOF) aims to prove just how significant its base metal Silver Lime project in the Atlin mining district of northwestern British Columbia truly is. The focus is on the target structures or ‘spokes’ that the company has now recognized as pathways for repeated polymetallic mineralization events.
The company plans to present the exploration results for the past year 2023 and announce detailed plans for 2024 shortly. In 2023, 89 surface rock samples were taken within the 9.5 km x 10 km mineralized footprint on the Silver Lime project (see Figure 1). Among other things, Core Assets succeeded in extending the so-called Gally Trend to a strike length of 2.5 km with massive sulfide at the surface, with grades of up to 680 g/t Ag and >36.4% Pb+Zn 0.55% Cu. To date, a total of 9,809 meters of exploratory diamond drilling has been completed on the CRD-porphyry Silver Lime project. These first-pass drillings successfully confirmed the presence of high-grade Ag-Pb-Zn-Cu carbonate replacement mineralization (CRD) at depth as well as widespread porphyry Mo mineralization and associated mineralized skarns.
Nick Rodway, President CEO of Core Assets, commented: “The team continues to discover significant, high-grade mineralization at surface at Silver Lime, expanding the project’s surface footprint and metal occurrences.”
In the Gally target area, located immediately southwest of the Sulphide City porphyry, high-grade Ag-Pb-Zn mineralization was extended by 850 m along the trend to the south (Figure 1), increasing the Pete’s-Sulphide City-Gally trend to a length of 2.5 km. Samples of marble-hosted massive sulfide carbonate replacement and sulfide-bearing veins in schist were collected along this trend extension in 2023 and yielded grades of up to 680 g/t Ag, >20% Pb, 14% Zn, 0.55% Cu, 0.75 g/t Au, 0.14% Bi, and 155 ppm Te.
The company’s longest and best drill intersections to date were achieved at the Pete’s and Gally targets in 2023. SLM23-028 intersected 6.40 m grading 159 g/t Ag, 8.7% Pb, 7.7% Zn, and 0.23% Cu from 27.43 m depth, including 0.57 m grading 301 g/t Ag, 11.5% Pb, 10.7% Zn, and 0.31% Cu, while SLM23-048 yielded 8 m grading 139 g/t Ag, 3.5% Pb+Zn, and 0.18% Cu, including 0.50 m grading 1,030 g/t Ag, 32.4% Pb+Zn, 1.16% Cu, 0.19% Bi, and 270 ppm Te from surface.
Conclusion: As demonstrated by the successful results of extensive surface sampling from the past season, Core Assets now holds the key to mineralization on its polymetallic Silver Lime project. The exploration efficiently follows the ‘spoke structures’ that apparently served as pathways for repeated mineralization events. The drilling planned for this year’s season should therefore be much more targeted than the previous first-pass drilling, which was already very successful. The table is richly set with promising targets: The 10 km by 9.5 km Silver Lime project consists of a total of seven highly prospective target areas covering the entire mineralization spectrum from porphyry Mo-Cu to Fe-Zn-Cu-Ag massive sulfide skarn (Sulphide City) and Ag-Pb-Zn-Cu-Au carbonate replacement mineralization (Gally, Pete’s, Grizzly, Jackie) to sediment-hosted Ag-Au-bearing quartz veins and Au-bearing base metal sulfide veins
