Core Assets Provides a Summary of the 2023 Exploration Program & Announces Issuance of Stock Options
CORE ASSETS PROVIDES A SUMMARY OF THE 2023 EXPLORATION PROGRAM & ANNOUNCES ISSUANCE OF STOCK OPTIONS
Vancouver, April 25, 2024 – Core Assets Corp., (“Core Assets” or the “Company”) (CSE:CC) (FSE:5RJ) (OTC.QB:CCOOF) is pleased to provide a summary of results from the 2023 exploration program at the Silver Lime CRD-Porphyry Project (the “Silver Lime Project” or “Silver Lime”), central Blue Property (the “Blue Property”), Atlin Mining District of NW British Columbia.
In 2023, Core Assets completed 4,245m of shallow, exploratory diamond drilling over 21 HQ-sized drill holes; 14.4 line-kilometers of a high-resolution 3D-DCIP geophysical survey over the high-grade Pete’s-Sulphide City-Gally Trend; and the collection of 89 surficial rock samples across the Silver Lime CRD-Porphyry Project footprint. A brief overview of exploration work and results from the Silver Lime
CRD-Porphyry Project follows the 2023 highlights section below.
2023 SILVER LIME CRD-PORPHYRY PROJECT HIGHLIGHTS
Diamond drilling at the Pete’s and Gally CRD Targets confirmed the presence of two new, near surface carbonate replacement (CRM) discoveries consisting of multiple high- and extremely high-grade Ag-Pb-Zn-Cu massive sulphide zones. These targets are located 1.4km apart, within a 2.5km-long high-grade corridor at Silver Lime that includes the Mo-Cu-bearing Sulphide City Porphyry.
The best and longest intercepts drilled to-date were obtained in 2023 from the Pete’s and Gally targets (Table 1, 2):
- SLM23-028 (Pete’s) intersected 6.40m grading 159g/t Ag, 8.7% Pb, 7.7% Zn, and 0.23% Cu from 27.43m depth, including 0.57m of 301g/t Ag, 11.5% Pb, 10.7% Zn, and 0.31% Cu; and
- SLM23-048 (Gally) intersected 8.00m of 139g/t Ag, 3.5% Pb+Zn, and 0.18% Cu from surface, including 1.30m of 845g/t Ag,
31.3% Pb+Zn, and 1.10% Cu, including 0.50m of 1,030g/t Ag, 32.4% Pb+Zn, and 1.16% Cu.
In 2023, 7 out of 8 diamond drillholes completed at Jackie intersected numerous zones of high-grade Zn-Pb-Ag-Cu massive sulphide mineralization. SLM23-038 returned 2.20m of CRM from 17.05m depth that graded 187g/t Ag, 23.9% Pb+Zn, and 0.53% Cu, including
1.15m of 201g/t Ag, 25.7% Pb+Zn, and 0.52% Cu.
Some drill holes completed at Jackie intersected steep gold-bearing fugitive calcite veins that graded up to 2m of 3.10g/t Au within 10m of 0.32g/t Au between 40m and 80m drilled depths. Similar, near surface gold-bearing veins were also intersected at the Pete’s and Grizzly targets in 2023, significantly adding to the precious metal endowment of the Silver Lime Project.
The 2023 project-wide surface sampling program extended high-grade, Ag-Pb-Zn mineralization at both the Gally and Jackie Targets (Table 4). CRM and sulphide-bearing veins grading up to 680g/t Ag, >20% Pb, 14% Zn, 0.55% Cu, 0.75g/t Au, 0.14% Bi and 155ppm Te were collected south of the Gally Target, increasing the extent of the high-grade corridor by 850m to 2.5km in length. At the Jackie Target, 6 out of the top 10 surface samples were collected at Jackie in 2023 and returned up to 1,130g/t Ag with 13.5% Zn, 7.3% Pb, 0.25% Bi and 240ppm Te.
A three-dimensional direct current induced polarization (3D-DCIP) geophysical survey identified a 1.5km by 0.5km chargeability (80mV/V) anomaly. The top of this anomaly was intersected by drilling in 2022, and was accompanied by an increase in Cu grade, and continues past the drilled extents of the Sulphide City Mo-Cu Porphyry (>471m). Several highly conductive and chargeable linear bodies were identified in the survey area and range from 320 to 900 metres in length. They coincide with surficial occurrences of massive sulphide and high-grade CRM intersected at the Pete’s and Gally targets in 2023. These interpreted “feeder structures” appear to extend from surface and connect to the margins of the deep-seated chargeability anomaly below Sulphide City.
Fifty-six (56) diamond drillholes totalling 9,808.7m have been completed at the Silver Lime Project to-date. Forty-eight (48) drill holes, or 85.7% of drilling to-date, has intersected mineralization styles that span the full Porphyry-CRD continuum. In 2023, 83% of holes intersected high-grade CRM or gold-bearing veins.
Core Assets’ President & CEO Nick Rodway commented, “We have recently acquired new remote sensing data and structural deliverables from a 3D magnetics inversion currently being completed on our 2021 VTEM data. The team is busy planning and preparing to mobilize to site in Atlin to kick off our fully funded 2024 exploration season within the next few weeks. We look forward to presenting our 2024 exploration plans and new interpretations for Silver Lime in conjunction with our evolving 3D geologic model.
| Table 1: 2023 Drill Core Assay Highlights (CRM) from the Silver Lime Project | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| PETE'S CRD TARGET | |||||||||
| Hole ID | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t | Pb + Zn % |
| SLM23-016 | 0.00 | 3.33 | 3.33 | 138 | 7.20 | 7.34 | 0.5 | 0.0 | 14.5 |
| Including | 0.00 | 1.80 | 1.80 | 209 | 10.94 | 11.22 | 0.8 | 0.0 | 22.2 |
| 0.00 | 1.25 | 1.25 | 241 | 13.38 | 17.00 | 0.8 | 0.1 | 30.4 | |
| and | 1.25 | 1.80 | 0.55 | 246 | 11.5 | 5.8 | 1.17 | 0.03 | 17.3 |
| SLM23-017 | 0.05 | 0.50 | 0.45 | 218 | 15.5 | 10.8 | 0.46 | 0.02 | 26.3 |
| SLM23-019 | 34.53 | 36.65 | 2.12 | 260 | 5.16 | 5.91 | 0.2 | 0.0 | 11.1 |
| including | 36.05 | 36.65 | 0.60 | 472 | 6.8 | 8.3 | 0.33 | 0.12 | 15.1 |
| SLM23-020 | 32.30 | 36.50 | 4.20 | 111 | 2.79 | 3.17 | 0.1 | 0.0 | 6.0 |
| Including | 33.00 | 36.00 | 3.00 | 139 | 3.63 | 4.19 | 0.1 | 0.0 | 7.8 |
| 35.00 | 36.00 | 1.00 | 296 | 7.49 | 9.53 | 0.3 | 0.0 | 17.0 | |
| and | 35.50 | 36.00 | 0.50 | 394 | 9.9 | 11.6 | 0.26 | 0.02 | 21.5 |
| SLM23-021 | 4.27 | 6.05 | 1.78 | 62 | 0.0 | 0.1 | 2.31 | 2.68 | 5.0 |
| SLM23-022 | 4.30 | 5.00 | 0.70 | 138 | 3.7 | 1.1 | 0.29 | 0.02 | 4.8 |
| SLM23-023 | 2.00 | 8.00 | 6.00 | 45 | 0.0 | 0.2 | 1.67 | 1.50 | 3.2 |
| Including | 2.00 | 6.00 | 4.00 | 53 | 0.0 | 0.1 | 2.07 | 1.91 | 4.0 |
| 4.00 | 6.00 | 2.00 | 152 | 0.0 | 0.1 | 6.32 | 5.06 | 11.4 | |
| SLM23-024 | 57.70 | 58.20 | 0.50 | 295 | 7.2 | 10.6 | 0.10 | 0.03 | 17.7 |
| SLM23-028 | 27.43 | 33.83 | 6.40 | 159 | 0.0 | 0.2 | 8.74 | 7.71 | 16.4 |
| Including | 27.43 | 31.00 | 3.57 | 215 | 0.0 | 0.3 | 12.04 | 10.41 | 22.5 |
| 27.43 | 29.50 | 2.07 | 250 | 0.0 | 0.3 | 11.88 | 11.30 | 23.2 | |
| and | 27.43 | 28.00 | 0.57 | 301 | 11.5 | 10.7 | 0.31 | 0.01 | 22.1 |
| SLM23-030 | 32.00 | 34.80 | 2.80 | 52 | 0.0 | 0.2 | 2.73 | 1.86 | 4.6 |
| Including | 32.00 | 32.80 | 0.80 | 102 | 0.0 | 0.3 | 2.74 | 1.60 | 4.3 |
| and | 32.00 | 32.42 | 0.42 | 156 | 4.4 | 1.5 | 0.25 | 0.02 | 5.9 |
| GRIZZLY CRD TARGET | |||||||||
| Hole ID | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t | Pb + Zn % |
| SLM23-031 | 53.70 | 66.00 | 12.30 | 14 | 0.8 | 0.3 | 0.02 | 0.05 | 1.0 |
| Including | 53.70 | 62.80 | 9.10 | 17 | 1.0 | 0.3 | 0.02 | 0.06 | 1.3 |
| 53.70 | 54.75 | 1.05 | 69 | 3.5 | 2.5 | 0.03 | 0.04 | 6.0 | |
| 62.00 | 66.00 | 4.00 | 25 | 1.5 | 0.2 | 0.03 | 0.13 | 1.7 | |
| and | 62.00 | 62.80 | 0.80 | 103 | 6.8 | 0.1 | 0.13 | 0.60 | 6.9 |
| SLM23-034 | 124.80 | 128.00 | 3.20 | 22 | 0.3 | 0.3 | 0.04 | 0.01 | 0.6 |
| Including | 124.80 | 126.50 | 1.70 | 39 | 0.5 | 0.5 | 0.07 | 0.01 | 1.0 |
| and | 126.00 | 126.50 | 0.50 | 53 | 0.5 | 0.6 | 0.16 | 0.01 | 1.1 |
| SLM23-034 | 183.40 | 186.00 | 2.60 | 1 | 3.0 | 0.0 | 0.01 | 0.01 | 3.0 |
| Including | 183.40 | 184.00 | 0.60 | 3 | 12.9 | 0.0 | 0.03 | 0.01 | 12.9 |
| SLM23-036 | 2.00 | 4.10 | 2.10 | 31 | 0.4 | 0.4 | 0.06 | 0.01 | 0.8 |
| JACKIE CRD TARGET | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Hole ID | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t | Pb + Zn % |
| SLM23-037 | 188.95 | 189.90 | 0.95 | 5 | 0.0 | 2.0 | 0.02 | 0.00 | 2.0 |
| Including | 188.95 | 189.37 | 0.42 | 10 | 0.0 | 3.2 | 0.03 | 0.01 | 3.2 |
| SLM23-038 | 17.05 | 19.25 | 2.20 | 187 | 13.7 | 10.2 | 0.53 | 0.02 | 23.9 |
| Including | 17.05 | 18.20 | 1.15 | 201 | 13.8 | 11.9 | 0.52 | 0.03 | 25.7 |
| and | 17.05 | 17.70 | 0.65 | 200 | 12.5 | 11.1 | 0.67 | 0.04 | 23.6 |
| SLM23-039 | 8.00 | 10.55 | 2.55 | 61 | 3.6 | 1.2 | 0.24 | 0.02 | 4.8 |
| Including | 10.05 | 10.55 | 0.50 | 307 | 17.8 | 6.2 | 1.21 | 0.08 | 24.0 |
| SLM23-039 | 53.65 | 55.45 | 1.80 | 68 | 3.9 | 3.4 | 0.31 | 0.03 | 7.3 |
| Including | 54.8 | 55.45 | 0.65 | 116 | 7.4 | 2.6 | 0.53 | 0.01 | 10.0 |
| SLM23-041 | 13.00 | 15.50 | 2.50 | 17 | 0.3 | 4.2 | 0.07 | 0.02 | 4.5 |
| Including | 14.80 | 15.50 | 0.70 | 45 | 0.1 | 13.6 | 0.21 | 0.06 | 13.7 |
| SLM23-041 | 98.90 | 99.40 | 0.50 | 85 | 2.0 | 9.1 | 0.12 | 0.04 | 11.1 |
| SLM23-041 | 108.80 | 109.30 | 0.50 | 28 | 0.3 | 3.0 | 0.12 | 0.02 | 3.3 |
| SLM23-042 | 0.00 | 4.55 | 4.55 | 116 | 6.7 | 4.9 | 0.41 | 0.01 | 11.7 |
| Including | 0.00 | 3.35 | 3.35 | 130 | 7.8 | 5.8 | 0.39 | 0.01 | 13.6 |
| 0.00 | 1.10 | 1.10 | 215 | 14.8 | 7.3 | 0.24 | 0.01 | 22.1 | |
| SLM23-043 | 0.00 | 18.15 | 18.15 | 24 | 1.3 | 2.0 | 0.04 | 0.01 | 3.3 |
| Including | 0.00 | 15.40 | 15.40 | 27 | 1.5 | 2.3 | 0.04 | 0.01 | 3.9 |
| 0.00 | 1.00 | 1.00 | 152 | 9.8 | 9.4 | 0.11 | 0.02 | 19.2 | |
| 13.00 | 18.15 | 5.15 | 47 | 2.4 | 3.0 | 0.07 | 0.01 | 5.4 | |
| 13.00 | 15.40 | 2.40 | 94 | 4.8 | 6.3 | 0.13 | 0.01 | 11.1 | |
| and | 14.25 | 15.40 | 1.15 | 206 | 10.6 | 13.8 | 0.23 | 0.01 | 24.4 |
| SLM23-043 | 49.80 | 55.60 | 5.80 | 14 | 0.4 | 2.0 | 0.03 | 0.01 | 2.4 |
| Including | 55.00 | 55.60 | 0.60 | 125 | 3.7 | 2.3 | 0.06 | 0.02 | 6.1 |
| SLM23-044 | 70.00 | 72.00 | 2.00 | 26 | 0.23 | 0.25 | 0.05 | 0.01 | 0.5 |
| GALLY CRD TARGET | |||||||||
| Hole ID | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t | Pb + Zn % |
| SLM23-045 | 0.00 | 2.00 | 2.00 | 170 | 1.8 | 1.9 | 0.15 | 0.01 | 3.7 |
| including | 0.00 | 0.40 | 0.40 | 842 | 8.7 | 8.7 | 0.72 | 0.01 | 17.5 |
| SLM23-046 | 3.00 | 15.00 | 12.00 | 68 | 0.6 | 2.3 | 0.23 | 0.01 | 2.9 |
| Including | 3.00 | 13.00 | 10.00 | 75 | 0.7 | 2.1 | 0.19 | 0.01 | 2.8 |
| 4.20 | 5.20 | 1.00 | 348 | 3.4 | 12.7 | 0.30 | 0.02 | 16.1 | |
| 12.50 | 15.00 | 2.50 | 159 | 0.7 | 5.3 | 0.97 | 0.01 | 6.0 | |
| and | 12.50 | 13.00 | 0.50 | 652 | 3.0 | 13.4 | 3.13 | 0.01 | 16.3 |
| SLM23-047 | 5.30 | 19.25 | 13.95 | 46 | 0.2 | 1.7 | 0.14 | 0.01 | 1.9 |
| Including | 5.30 | 5.90 | 0.60 | 340 | 1.5 | 9.9 | 0.29 | 0.01 | 11.5 |
| 17.30 | 19.25 | 1.95 | 201 | 1.1 | 5.9 | 0.72 | 0.02 | 7.0 | |
| 15.00 | 19.25 | 4.25 | 94 | 0.5 | 3.2 | 0.38 | 0.01 | 3.7 | |
| and | 18.50 | 19.25 | 0.75 | 299 | 1.6 | 3.6 | 0.11 | 0.02 | 5.2 |
| and | 17.30 | 18.00 | 0.70 | 208 | 1.2 | 7.3 | 1.34 | 0.02 | 8.5 |
| SLM23-048 Including and SLM23-049 Including and SLM23-051 SLM23-052 Including SLM23-053 | 0.00 0.00 0.00 1.05 1.05 1.05 3.40 3.40 3.40 1.45 16.85 18.60 4.60 | 4.00 6.00 8.00 2.35 8.00 1.55 7.65 5.90 4.00 1.95 19.10 19.10 10.00 | 4.00 6.00 8.00 1.30 6.95 0.50 4.25 2.50 0.60 0.50 2.25 0.50 5.40 | 279 186 139 845 158 1030 111 156 649 7 54 226 7 | 2.5 1.7 1.2 7.5 1.4 10.8 1.3 1.6 6.8 0.0 0.5 2.0 0.1 | 4.5 3.0 2.3 13.8 2.6 21.6 2.7 4.1 16.1 3.1 2.2 9.0 0.3 | 0.37 0.24 0.18 1.10 0.21 1.16 0.12 0.19 0.71 0.12 0.10 0.41 0.03 | 0.01 0.01 0.01 0.03 0.01 0.03 0.01 0.01 0.02 0.01 0.01 0.01 0.01 | 7.0 4.7 3.5 21.3 4.0 32.4 4.0 5.7 22.9 3.1 2.7 11.0 0.3 |
|---|---|---|---|---|---|---|---|---|---|
| SLM23-054 Incuding and SLM23-055 Including and SLM23-056 | 19.00 19.00 | 36.00 35.00 | 17.00 16.00 | 6 7 | 0.0 0.0 | 1.1 1.1 | 0.13 0.14 | 0.01 0.01 | 1.1 1.1 |
| 19.00 | 23.00 | 4.00 | 19 | 0.0 | 3.2 | 0.42 | 0.01 | 3.2 | |
| 19.00 | 21.25 | 2.25 | 34 | 0.0 | 5.6 | 0.75 | 0.02 | 5.7 | |
| 20.45 | 21.25 | 0.80 | 85 | 0.1 | 14.9 | 1.87 | 0.04 | 15.0 | |
| 20.45 | 20.85 | 0.40 | 91 | 0.1 | 15.5 | 1.99 | 0.05 | 15.6 | |
| 33.00 | 37.20 | 4.20 | 4 | 0.0 | 1.2 | 0.11 | 0.01 | 1.3 | |
| 33.00 33.00 28.15 33.00 34.50 38.00 | 35.00 34.00 35.00 35.00 35.00 42.00 | 2.00 1.00 6.85 2.00 0.50 4.00 | 8 12 11 22 53 58 | 0.0 0.1 0.1 0.1 0.2 0.4 | 2.3 2.5 0.7 1.9 4.4 0.8 | 0.20 0.31 0.08 0.22 0.56 0.14 | 0.01 0.01 0.01 0.01 0.01 0.01 | 2.3 2.6 0.8 2.0 4.5 1.2 | |
| Including and | 39.50 39.50 | 42.00 40.45 | 2.50 0.95 | 87 212 | 0.5 1.3 | 1.2 2.6 | 0.21 0.46 | 0.01 0.01 | 1.7 3.9 |
*Assay results are presented as uncut weighted averages. Interval widths represent drilled HQ core lengths and true width is unknown currently.
| Table 2: Gold in Drill Core Assay Highlights from the Silver Lime Project | |||||
|---|---|---|---|---|---|
| Hole ID | From (m) | To (m) | Interval (m) | Au g/t | Ag g/t |
| JACKIE CRD Target | |||||
| SLM22-003 | 78.00 | 79.60 | 1.60 | 0.35 | 0.4 |
| SLM22-004 | 121.82 | 122.35 | 0.53 | 0.57 | 50.4 |
| SLM22-004 | 316.00 | 318.00 | 2.00 | 0.54 | 0.5 |
| SLM22-004 | 335.00 | 343.00 | 8.00 | 0.69 | 6.5 |
| SLM22-004 | 335.00 | 339.00 | 4.00 | 1.36 | 6.5 |
| SLM22-004 | 335.00 | 337.00 | 2.00 | 5.42 | 5.6 |
| SLM23-040 | 74.00 | 84.00 | 10.00 | 0.2 | 0.14 |
| Including | 76.00 | 84.00 | 8.00 | 0.3 | 0.16 |
| 76.00 | 82.00 | 6.00 | 0.2 | 0.20 | |
| 76.00 | 80.00 | 4.00 | 0.2 | 0.25 | |
| and | 78.00 | 80.00 | 2.00 | 0.4 | 0.72 |
| SLM23-041 | 41.55 | 43.50 | 1.95 | 1 | 0.16 |
| SLM23-041 | 60.00 | 66.00 | 6.00 | 0.1 | 0.07 |
| Including | 60.00 | 62.00 | 2.00 | 0.2 | 0.24 |
| SLM23-041 | 70.00 | 80.00 | 10.00 | 0.2 | 0.32 |
| Including | 76.00 | 80.00 | 4.00 | 0.2 | 0.80 |
| 78.00 | 80.00 | 2.00 | 0.3 | 3.10 | |
| GRIZZLY CRD TARGET | |||||
| SLM23-036 | 87.4 | 89 | 1.6 | 1 | 0.16 |
| PETE'S CRD TARGET | |||||
| SLM23-030 | 7.00 | 9.00 | 2.00 | 1.26 | 13 |
| SLM23-029 | 10.36 | 12.00 | 1.64 | 3.46 | 64 |
| SLM23-028 | 6.00 | 8.00 | 2.00 | 0.80 | 3 |
| SLM23-028 | 8.00 | 10.00 | 2.00 | 0.28 | 1 |
| SLM23-026 | 13.00 | 15.00 | 2.00 | 1.00 | 6 |
| SLM23-026 | 24.00 | 26.00 | 2.00 | 0.24 | 0 |
| SLM23-026 | 42.00 | 44.00 | 2.00 | 0.24 | 3 |
| SLM23-026 | 47.00 | 48.00 | 1.00 | 0.13 | 3 |
| SLM23-019 | 24.10 | 26.00 | 1.90 | 0.10 | 8 |
| SLM23-022 | 16.00 | 17.00 | 1.00 | 0.26 | 5 |
| SLM23-022 | 17.00 | 18.00 | 1.00 | 0.02 | 6 |
| SLM23-022 | 18.00 | 19.90 | 1.90 | 0.04 | 14 |
| SLM23-022 | 30.00 | 31.00 | 1.00 | 0.14 | 4 |
| SLM23-023 | 16.00 | 18.00 | 2.00 | 0.12 | 3 |
*Assay results are presented as uncut weighted averages. Interval widths represent drilled HQ core lengths and true width is unknown currently.
| Table 3: 2023 Drill Hole Data | ||||||
|---|---|---|---|---|---|---|
| DDH ID | Easting (m) | Northing (m) | Elevation (m) | Azimuth | Dip | Total Depth (m) |
| SLM23-016 | 536575 | 6559759 | 1464.8 | 250 | -55 | 62.0 |
| SLM23-017 | 536575 | 6559759 | 1464.8 | 250 | -62 | 52.0 |
| SLM23-018 | 536575 | 6559759 | 1464.8 | 250 | -72 | 159.0 |
| SLM23-019 | 536575 | 6559759 | 1464.8 | 180 | -65 | 275.0 |
| SLM23-020 | 536575 | 6559759 | 1464.8 | 205 | -76 | 97.0 |
| SLM23-021 | 536510 | 6559805 | 1447.0 | 185 | -50 | 74.0 |
| SLM23-022 | 536510 | 6559805 | 1447.0 | 185 | -60 | 110.0 |
| SLM23-023 | 536510 | 6559805 | 1447.0 | 205 | -50 | 136.0 |
| SLM23-024 | 536510 | 6559805 | 1447.0 | 65 | -70 | 135.0 |
| SLM23-025 | 536510 | 6559805 | 1447.0 | 65 | -85 | 108.0 |
| SLM23-026 | 536594 | 6559762 | 1468.0 | 230 | -56 | 147.0 |
| SLM23-027 | 536594 | 6559762 | 1468.0 | 225 | -60 | 111.0 |
| SLM23-028 | 536594 | 6559762 | 1468.0 | 245 | -50 | 42.0 |
| SLM23-029 | 536594 | 6559762 | 1468.0 | 150 | -50 | 108.0 |
| SLM23-030 | 536594 | 6559762 | 1468.0 | 255 | -50 | 52.9 |
| SLM23-031 | 537175 | 6558674 | 1846.0 | 260 | -70 | 83.2 |
| SLM23-032 | 537175 | 6558674 | 1846.0 | 250 | -62 | 219.0 |
| SLM23-033 | 537175 | 6558674 | 1846.0 | 200 | -65 | 168.0 |
| SLM23-034 | 537110 | 6558781 | 1860.0 | 189 | -45 | 291.0 |
| SLM23-035 | 537110 | 6558781 | 1860.0 | 214 | -45 | 49.0 |
| SLM23-036 | 537110 | 6558781 | 1860.0 | 74 | -60 | 116.0 |
| SLM23-037 | 538741 | 6557299 | 1602.0 | 154 | -45 | 251.0 |
| SLM23-038 | 538741 | 6557299 | 1628.0 | 192 | -45 | 154.0 |
| SLM23-039 | 538741 | 6557299 | 1605.0 | 192 | -45 | 104.0 |
| SLM23-040 | 538741 | 6557299 | 1605.1 | 202 | -45 | 91.0 |
| SLM23-041 | 538741 | 6557299 | 1605.1 | 230 | -45 | 120.0 |
| SLM23-042 | 538741 | 6557299 | 1605.1 | 290 | -68 | 51.0 |
| SLM23-043 | 538741 | 6557299 | 1605.1 | 306 | -70 | 106.0 |
| SLM23-044 | 538741 | 6557299 | 1605.1 | 2 | -45 | 88.0 |
| SLM23-045 | 536653 | 6558351 | 1628.5 | 288 | -67 | 26.0 |
| SLM23-046 | 536653 | 6558351 | 1628.5 | 288 | -79 | 63.0 |
| SLM23-047 | 536653 | 6558351 | 1628.5 | 288 | -85 | 48.0 |
| SLM23-048 | 536653 | 6558351 | 1628.5 | 288 | -74 | 33.0 |
| SLM23-049 | 536653 | 6558351 | 1628.5 | 325 | -69 | 27.0 |
| SLM23-050 | 536653 | 6558351 | 1628.5 | 345 | -65 | 46.0 |
| SLM23-051 | 536653 | 6558351 | 1628.5 | 335 | -60 | 22.0 |
| SLM23-052 | 536653 | 6558351 | 1628.5 | 355 | -89 | 108.0 |
| SLM23-053 | 536653 | 6558351 | 1628.5 | 175 | -45 | 88.0 |
| SLM23-054 | 536653 | 6558351 | 1628.5 | 105 | -66 | 58.7 |
| SLM23-055 | 536653 | 6558351 | 1628.5 | 108 | -75 | 50.0 |
| SLM23-056 | 536653 | 6558351 | 1628.5 | 105 | -50 | 115.0 |
| Table 4: 2023 Surface Sample Assay Highlights for the Silver Lime Project | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sample ID | Target | Ag g/t | Cu % | Pb % | Zn % | Au g/t | Bi ppm | Te ppm | |||||||||
| F422059 | Jackie CRD Target | 1130 | 0.10 | 7.3 | 13.5 | 0.02 | 2540 | 240 | |||||||||
| F422076 | Gally CRD Target | 680 | 0.55 | 6.9 | 9.5 | 0.04 | 1315 | 155 | |||||||||
| F422068 | Jackie CRD Target | 646 | 0.18 | 10.7 | 13.3 | 0.01 | 1285 | 163 | |||||||||
| F422095 | Grizzly CRD Target | 545 | 0.03 | 1.3 | 4.9 | 1.32 | 330 | 260 | |||||||||
| F422070 | Jackie CRD Target | 480 | 0.58 | 20.0 | 11.6 | 0.02 | 433 | 190 | |||||||||
| F422071 | Jackie CRD Target | 409 | 2.99 | 17.8 | 14.2 | 0.02 | 237 | 140 | |||||||||
| F421232 | Jackie CRD Target | 347 | 0.19 | 9.3 | 5.5 | 0.23 | 179 | 110 | |||||||||
| F422075 | Gally CRD Target | 281 | 0.26 | 20.0 | 14.2 | 0.02 | 26 | 269 | |||||||||
| F421207 | Gally CRD Target | 260 | 0.10 | 6.5 | 3.8 | 0.75 | 2 | 76 | |||||||||
| F421213 | Jackie CRD Target | 257 | 0.36 | 3.2 | 5.8 | 0.54 | 213 | 53 | |||||||||
| F422062 | Jackie CRD Target | 257 | 0.23 | 7.6 | 6.2 | 0.03 | 423 | 80 | |||||||||
| F421164 | Jackie CRD Target | 92 | 0.06 | 6.7 | 5.6 | 0.02 | 4 | 56 | |||||||||
| F421154 | Jackie CRD Target | 16.9 | 0.22 | 0.1 | 15.8 | 0.01 | 13 | 30 | |||||||||
| F421156 | Jackie CRD Target | 11.4 | 0.21 | 0.1 | 13.6 | 0.02 | - | 20 | |||||||||
| F421203 | Gally CRD Target | 11.9 | 0.05 | 0.1 | 13.4 | 0.36 | - | 2 |
SILVER LIME CRD-PORPHYRY PROJECT – 2023 OVERVIEW
Early in the 2023 season at the Silver Lime Project, structural consultants from Terrane Geosciences Ltd. (“Terrane”) were contracted to complete detailed mapping and sampling across the project area. Field work completed by Terrane personnel was successful in delineating structural controls and orientations of mineralization observed at surface. Generally, massive sulphide CRD and skarn mineralization is influenced by pre-existing ductile structures, concentrating in large fold hinges. At Jackie however, sulphide mineralization concentrates along the contacts of intermediate dykes and brittle fault splays.
A total of 4244.7m of exploration-focused (HQ-sized) diamond drilling was completed at Core Asset’s Silver Lime CRD-Porphyry Project during the 2023 exploration season. The Pete’s and Gally targets received a first pass of diamond drilling, which was successful in confirming the presence of outcropping massive sulphide CRD mineralization at depth, as well as local gold-bearing veins. The Jackie Target received a second pass of drilling following the 2022 season, successfully expanding mineralization along strike and below surface.
Drill core assay results from Pete’s CRD Target confirmed the discovery of a new high-grade Pb-Ag-Zn-Cu±Au CRD (carbonate replacement) zone at shallow depths (Figures 1, 2). A total of 1,669 meters of diamond drilling (15 holes) were completed in 2023 across three drill pad locations, and within a 100-meter step-out. Drilling was designed to test the down-dip extension of marblehosted carbonate replacement and skarn mineralization associated with multiple generations of intrusions. Low to moderate Au grades were also observed at depth in fugitive calcite veins at Pete’s. Project-wide Au mineralization is discussed in more detail below.
Figure 1: Simplified Plan Map of Pete’s CRD Target showing highlighting 2023 preliminary drilling assay results.
In 2023, 697.7m of shallow diamond drilling was completed at the Gally CRD Target. The drill was positioned approximately 325 meters south-southwest of 2022 Sulphide City drilling above an exposed, 35-meter-long high-grade Ag-Zn-Pb-Cu carbonate replacement bleeder hosted in coarse-grained marble. Drilling at Gally successfully intersected extremely high-grade near surface Ag-Pb-Zn-Cu mineralization over appreciable widths in 11 of 12 holes (Figure 2). Ag-Pb-Zn-Cu massive and semi-massive sulphide mineralization has been intersected near surface (Gally, Pete’s) and at drilled depths of up to 453 meters (Sulphide City) along the Pete’s-Sulphide City-Gally Trend.
Figure 2: Representative photos of coarse-grained, high-grade mineralization styles intersected in drill core at the Gally, Grizzly (2022), and Pete’s CRD Targets and observed at surface at the Jackie CRD Target.
In 2023, 8 shallow diamond drill holes totalling 965m were completed at the Jackie CRD Target (Figure 3), located 3.5km southeast of Pete’s CRD Target. Drilling at Jackie intersected several occurrences of high-grade massive-to-disseminated zones of Zn-Pb-Cu-Ag (±Au, Te, Bi) carbonate replacement sulphide mineralization (Table 1, Figure 1) and multiple zones of low-to-moderate grade gold-bearing fugitive calcite veins. CRM mineralization intersected at Jackie is associated with faults and splays located proximal to mineralized (causative) intermediate dykes.
Figure 3: 2023 Drill Highlights Map of the Jackie CRD Target showing the downhole locations of carbonate replacement mineralization intercepts, Au-bearing skarn intercepts, and other high-grade intervals observed during the 2022 and 2023 diamond drilling campaigns at the Silver Lime CRD-Porphyry Target. This trend remains open in multiple directions and at depth. CRM = carbonate replacement mineralization.
A potentially causative, intermediate intrusion with a brecciated contact was discovered in outcrop at Jackie in 2023. A probable 7.90m section of this intrusive body, bound by brecciated contact and crosscut by a narrow pebble dyke, is believed to have been intersected at 190.70m depth in 2022 in hole SLM22-004. This intersection graded 46.7g/t Ag, 0.4% Zn, 0.7% Pb, and 0.19% Cu from 190.70m depth, including 2.00m of 126g/t Ag, 0.8% Zn, 2.0% Pb, and 0.60% Cu, and 0.62m of 338g/t Ag, 2.1% Zn, 5.8% Pb, and 1.55% Cu (contact breccia at 196.38m depth).
Prospecting and surface sampling in 2023 resulted in the collection of 89 rock samples, which successfully extended the Gally-Sulphide City-Pete’s high-grade corridor by 850m to the south to a total length of 2.5km. A mineralized structure at the Jackie Target demonstrates continuous mineralization for 575m along strike and continues for an additional 420m to the north where it remains untested. Fault splays and dyke offshoots from this structure are also variably mineralized. In 2023, 12 samples returned over 200g/t Ag, 14 greater than 2% Pb, 26 greater than 2% Zn and 14 samples graded over 0.20% Cu.
Figure 4: Simplified Plan Map of the Silver Lime CRD-Porphyry Project highlighting 2023 surface sampling assay (Ag) results. Target structures or “spokes” (highlighted in yellow) acted as pathways for repeated mineralizing events in which ore fluids evolved from Zn to Ag to Au-bearing while utilizing the same pathways.
Exploration work completed outboard of the Sulphide City Porphyry in 2022 and 2023 uncovered late-stage gold mineralization at Silver Lime. Significant gold grades have already been observed at the Pete’s, Amp, Falcon, and Jackie targets in areas with massive sulphide mineralization - adding to the endowment of our high-grade skarn and carbonate replacement targets. Gold mineralization at Silver Lime appears to be hosted in late fugitive calcite veins stemming from steeply dipping fault splays that affect schist, marble, local porphyritic dykes, and zones of massive sulphide.
Gold in quartz-carbonate veinlets with sulphides at the Amp Target, located almost a kilometer southeast of Pete’s Target, grade up to 6.75g/t Au and 931g/t Ag. High-grade gold occurrences at Pete’s and Amp appear localized along NW-SE trending faults stemming from a larger, >1.2-kilometer-long, gold-bearing fault zone located between the two targets (Figure 5). The two best gold-bearing surface samples collected to-date were discovered at the Falcon and Jackie targets. Historic Sample 89868 (Carmac, 1990) at Jackie graded 21g/t Au, 12g/t Ag, and 15% Zn (+As-Cu-Sb), whereas sample D935063 collected by Core Assets at Falcon in 2022 returned 19.5g/t Au and 33g/t Ag from coarse quartz-carbonate veins measuring up to 2m wide (Figure 6).
High-grade gold occurrences at Jackie and Falcon are also observed along multiple NW-SE trending faults stemming from a larger, >1.5-kilometer-long fault zone located immediately to the east. Porphyritic dykes proximal to these prospective structures appear closely associated with late gold mineralization, as well as earlier massive sulphide carbonate replacement mineralization. These intrusions locally carry a similar metal (As-Sb-Ba-Tl) signature to other gold-bearing zones sampled at Silver Lime. Gold zones outcrop in clusters over 3.5-kilometer area, and for up to 7.7 kilometers outboard of the Sulphide City Mo-Cu Porphyry and remain open for exploration in all directions.
Figure 5: Simplified Plan Map of the Pete’s & Amp targets highlighting 2023 drilling assay results at Pete’s (CRM Intercepts and gold-bearing intercepts), the distribution of gold in surface samples, and their correlation to mapped mineralized structures outboard and North of the Sulphide City Porphyry.
Figure 6: Simplified Plan Map of the Jackie and Falcon targets highlighting the distribution of gold in surface samples and their correlation to mapped mineralized structures outboard of the Sulphide City Porphyry at the Jackie & Falcon targets.