VANCOUVER, BC / ACCESS Newswire / January 21, 2025 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) is pleased to present results from the 2024 rock sampling campaign at the Blue Property (the "Property"), Atlin Mining District of NW British Columbia.
HIGHLIGHTS
Epithermal quartz veins and vein breccia from the North Gold Prospect returned Au and Ag grades of up to 1.74g/t Au and 111g/t Ag in 2024, with most samples collected assaying > 0.25g/t Au and >10g/t Ag (Figure 1).
These samples were collected within a 120m wide zone at North Gold that contains thick (0.2-1m thick) Ag-Au-bearing epithermal veins that have been mapped for approximately 600m along strike and remains open for expansion.
The North Gold Prospect is located 6-km north of the Sulphide City Porphyry and is proximal to another large-scale porphyritic intrusion and associated high-grade Zinc Skarn. The Zn-Skarn Showing was sampled in 2021 and returned >30% Zn, 38g/t Ag and 0.31% Cu.
Argentiferous Manganese Oxide Mineralization (or AMOM) was identified over a 100m-long trend located less than 1 km northwest of 2022/2023 drilling at the Jackie Target and returned 1,092g/t Ag and 0.25g/t Au (Figure 2).
In 2024, samples collected from massive galena-pyrite-quartz veins identified at Jackie returned up to 216g/t Ag, 0.11% Cu, 12% Pb, 115ppm Te and 10.8ppm Ga, and are hosted in a Cretaceous layered mafic intrusion that hosts epithermal-style veins at Pike Valley.
Massive galena and pyrite dominant carbonate replacement mineralization, sampled just southeast of the epithermal vein showing at Jackie, returned an impressive 767g/t Ag, 1.12% Cu, 48.3% Pb and 1.7% Zn.
New occurrences of epithermal microcrystalline quartz veins were discovered within the 2.7-km mineralized Gally-Sulphide City-Pete's Trend in 2024 and returned 0.38g/t Au (with 2g/t Ag) and 0.88g/t Au (with 353g/t Ag).
To-date, four (4) prospective and clustered mineralizing systems consisting of prospective mineralized porphyries and their associated high-grade Cu and/or Zn-Cu skarn occurrences have been identified over an approximately 30-km trend at the Blue Property.
The 2024 field program at Core Assets' 100% owned and operated Blue Property was focused on infilling and extending zones of mineralization at the Silver Lime Project. Detailed structural and geological mapping was carried out over the 2.7-km-long Gally-Sulphide City-Pete's Trend and at the Jackie Target, as well as first-pass prospecting at new targets. 102 rock samples were collected across 11 targets at the Silver Lime Project in 2024, and sampling was successful in infilling and identifying new zones of high-grade Cu, Zn, Ag, and Mo mineralization and identified a new zone of Ag-Au epithermal mineralization north of the Sulphide City Porphyry.
Figure 1: Mapped geology and surface sampling highlights at the newly identified North Gold Prospect at the Silver Lime Project.
North Gold was identified as a prospective zone during desktop work over the Winter of 2023/2024. The Prospect is located 6 km to the north of the Sulphide City Porphyry. A large-scale intrusion has been mapped in the vicinity of the North Gold prospect. Samples of high-grade Zinc skarn mineralization are concentrated along the edges of this intrusion (black dashed line in Figure 1 inset map) and graded >30% zinc with 38g/t Ag and 0.31% Cu in 2021* (see *News Release dated May 17, 2022). Gold and silver mineralization at the North Gold consists of 20-100 cm thick epithermal-style quartz veins and vein breccia alteration zones measuring up to 5 m wide, localized along banded marble-schist contact (Figure 3). The mineralized zone has been traced for approximately 600 m along strike and is open to both the north and south. The zone of most intensive veining is approximately 120 m wide. Results from the North Gold Prospect are summarized in Figure 1 above. As of now it is undetermined whether North Gold is a separate system or an extremely distal 'finger' of the Sulphide City mineralizing system. A north-trending feature noted in the 2021 VTEM survey is supportive of the latter hypothesis.
A short program focused on infill prospecting and mapping to the northwest of the Jackie Target returned 1092g/t Ag and 0.25g/t Au (Figure 2) in one sample. The mineralization consists of Argentiferous Manganese Oxide Mineralization (AMOM) concentrated within the hinge zone of a synform and was traced for 100 m along strike. Additionally, a mingled Cretaceous mafic sheet intrusion identified at Jackie and Pike Valley in 2023 has been identified as a passive host for high-grade epithermal style veining over a 1.5km trend between the two targets. In 2024, samples collected from these massive galena-pyrite-quartz epithermal veins at Jackie graded up to 216g/t Ag, 0.11% Cu, 12% Pb, 115ppm Te and 10.82ppm Ga.
Figure 2: 2024 Surface Sample Highlights at the Silver Lime Project - Sulphide City and surrounding targets.
Infill sampling at targets across the Silver Lime Project was paired with detailed structural and geological mapping. New occurrences of epithermal style microcrystalline quartz overprinting calcite veins were discovered within the 2.7 km mineralized Gally-Sulphide City-Pete's Trend grading 0.38 and 0.88g/t Au (samples F421245 and F422191, respectively). In addition to anomalous gold values, sample F422191 also returned 353g/t Ag. Sample F422210 was taken from a similar style vein on the north end of Grizzly Ridge and returned 122g/t Ag with 0.16% Cu.
Mapping and sampling immediately to the east of the Sulphide City Porphyry identified a Cu- and Mo-rich damage zone that returned sample assay values of up to 0.41% Cu, 35.54ppm Mo, and 13g/t Ag (sample F422207). Porphyry style Mo-bearing D-Veins in both gneiss and quartzite host rocks as well as within the Sulphide City intrusive graded up to 673ppm Mo (F422206), 586ppm Mo (F422202), and 288ppm Mo (F422205). Two chip samples across Porphyry wall rock and an exposed fault in this zone assayed 51.61ppm Mo over 40 cm (F422203) and 64.1ppm Mo over 120 cm, respectively.
Detailed mapping identified 4 field phases of the Sulphide City Porphyry; 1) Phase 1 Diatreme: an early sulphide-rich diatreme breccia + skarn phase, 2) Phase 2 Diatreme: another early diatreme breccia which affects Phase 1, 3) Mineralized Sulphide City Porphyry Stock: (undivided by texture in field), and 4) a post-Mineral Biotite-Quartz-Feldspar Porphyry Dyke that cuts all styles of mineralization. Geochemically, these 4 field phases are all related to the same system. At the base of Grizzly Ridge, a sample from a 17 by 4m outcrop of Phase 2 Diatreme (F422159) graded 14.4% Zn. This sample site is located approximately 40m to the southeast of a 300 m long trend of Zinc-rich skarn mineralization, extending the mineralized surficial trend to 340 m in length.
A short prospecting program to the north of the historic Falcon Target, approximately 1 km north of the Jackie Target, was aimed at following up on 10-20 cm thick sulfide veins reported in 2021 that graded 9.9% Cu and 1.8g/t Au. Unfortunately, previous geologists left no material to re-sample at the target area and steep terrain prevented Core Assets geologists from expanding the showing to the north. A new showing, however, was discovered 30 m to the southeast, consisting of chalcopyrite and malachite in a sheared and vuggy quartz vein. Sample F422227 from this vein assayed at 0.55% Cu and 0.51g/t Au.
PROJECT GEOLOGY
The Silver Lime Project lies in an underexplored region of northwestern British Columbia. Host rocks are primarily metasediments of the pre-Late Devonian Nisling Assemblage. These metasediments are bound to the west primarily by the Coast Plutonic Complex, and to the east by the Llewellyn Fault. The Llewellyn Fault is a regional, metal endowed, southeast striking brittle dextral strike slip feature. Mineralization styles common along the Llewellyn Fault are Mesothermal Au, Epithermal Au, Intrusion-Related Au, Skarn and Cu-Mo Porphyries.
Figure 3: North Gold Samples: A) F422240 Sample Site; B) F422240 Sample; C) F422248 Sample Site; D) F422248 Sample; E) F421651 Sample Site; and F) F421651 Sample
The geology, mineralization and alteration observed at the Silver Lime Project are all indicative of a nearby and buried Zn-Cu-Ag-Pb-Skarn and Mo-Cu-Ag Porphyry System. Brittle to ductile high strain shear zones are common across the Blue Property, notably the Llewellyn Shear Zone and the Wann River Shear Zone. Right-lateral strike-slip faulting, most likely related to the Llewellyn Fault System, and related transfer faults are interpreted to have provided a plumbing network at the Sulphide City Porphyry Target, allowing the Sulphide City Stock and its related mineralizing hydrothermal system to generate widespread sulphide and epithermal mineralization across the Silver Lime Project. The Eocene Sulphide City System is also evidenced to have overprinted an older, Cretaceous layered mafic intrusion that outcrops at Jackie and Pike Valley. Detailed geological mapping at the Silver Lime Project in 2024 revealed the complexities associated with the properties' polyphase deformational history. At least 3 folding events have been inferred, as well as prolonged pre-, syn-, and post-mineral brittle faulting.
SAMPLING, PREPARATION & QA/QC
All field samples were transported by helicopter at the end of each field day to the core logging facility in Atlin, BC for processing. Field samples were chosen to capture homogenous lithology, alteration, mineralization, and veining. All field samples were submitted to Bureau Veritas (BV) Labs in Whitehorse, YT. Each sample was crushed to 70% passing 2mm, then pulverized to 85% passing 200-micron mesh. All samples then underwent a 4-Acid digestion with an ICP-MS finish for a 59-element ultra trace package (Method Code MA-250), as well as fire assay by Pb collection with ICP-ES finish for Au, Pt, and Pd (Method code FA-330). Samples that hit upper detection limits for elements of interest on the primary multi-element method were then analyzed via a secondary 4-Acid digest with an ICP-OES finish (Method Code MA-370). Extremely high-grade Pb samples were analyzed via a tertiary overlimit method, GC-817.
NATIONAL INSTRUMENT 43-101 DISCLOSURE
Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 100359) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.
ABOUT CORE ASSETS CORP.
Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% ownership in the Blue Property, which covers a land area of114,074 hectares (~1,140 km²). The project lies within the Atlin Mining District, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue Property hosts a major structural feature known as The Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the Blue Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the Blue Property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in British Columbia's Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.
On Behalf of the Board of Directors
CORE ASSETS CORP.
"Nicholas Rodway"
President & CEO
Tel: 604.681.1568
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include, but are not limited to, expectations regarding the pending core assays, including speculative inferences about potential copper, molybdenum, gold, silver, zinc, and lead grades based on preliminary visual observations from results of diamond drilling at the Silver Lime Project and the Laverdiere Project, as applicable; the Company's plans to further investigate the geometry and extent of the skarn and carbonate replacement type mineralization continuum at the Silver Lime Project through additional field work and diamond drilling and any planned or proposed program related thereto; and any other general statement regarding the Company's planned or future exploration efforts at the Blue Property. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that expectations regarding pending core assays based on preliminary visual observations from diamond drilling results at the Silver Lime Project and the Laverdiere Project, as applicable, may be found to be inaccurate; that results may indicate further exploration efforts at the Silver Lime Project and the Laverdiere Project, as applicable, as not warranted; that the Company may be unable to implement its plans to further explore at the Silver Lime Project and the Laverdiere Project, as applicable; that certain exploration methods, including the Company's proposed exploration model for the Blue Property, may be ineffective or inadequate in the circumstances; that economic, competitive, governmental, geopolitical, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; that the Company may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out or complete our plans. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, the Company will not update or revise these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE: Core Assets Corp.
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