Core Assets Receives Drill Permits for the Blue Cu Au Property and Appoints Mr. Marcus Adam to its Technical Advisory Board
Vancouver, February 3, 2021 – Core Assets Corp., (“Core Assets” or the “Company”) (CSE:CC) (Frankfurt: 5RJ WKN:A2QCCU) (ISIN:CA 21871U 10 5) is pleased to announce that it is in receipt of a drill permit for its wholly owned Blue Property (the “Property”), located in the Atlin Mining District of northwestern British Columbia, Canada. The company is also pleased to announce that it has appointed Mr. Marcus Adam to its technical advisory board.
Highlights
- Core Assets is fully permitted for 18 drill holes.
- It is anticipated drilling will follow a planned spring magnetic and radiometric geophysical survey (See Core Assets News Release Dated Sept 29th, 2020).
- Priority targets located within the vicinity of the Llewelyn Fault Zone (“LFZ”) will be of focus. This important structure bears a spatial relationship to the Cu‐Au bearing skarns seen at surface at the Laverdier Prospect and to the Cu‐Zn‐Pb‐Au‐Ag skarns at the Silver Lime Prospect; the two prospects are about 10 km apart.
- Cu mineralization at the Laverdier Prospect is contained within wide zones of extensive alteration. Historic drill hole DDH 1‐73 contained 0.27% Cu over 173.2 metres from surface, 1.60% Cu from 173.2‐179.2 metres, 1.40% Cu from 186.2–194.0 metres, and ended in heavily altered skarn (ARIS 9162*).
- The style of alteration and highly anomalous copper content at the property suggest proximity to a porphyry centre (ARIS 4996*).
- The Silver Lime Prospect hosts over 30 pod‐like occurrences of massive sulfide at surface. A historic channel sample (Sample 88339*) returned 3.3 g/t Au, 2,641 g/t Ag, 0.15% Cu, 2.5% Pb and 3.32% Zn, 2.56% Sb over 2.2 metres and has not been drilled to date.
- Core Assets is very pleas sed to welco ome profess sional geolog gist Mr. Marcus Adam to its te echnical adv visory board. Mr. Adam has over 10 years exp perience in e exploring for and delineating porphyry dep posits in British Columbia a.
- Core Assets’ t technical tea am believes that the Blu ue Property has exceptio onal potential for a new porphy yry discovery y in British C Columbia.
ng in junior exploration Core Assets’ CEO Sco ott Rose com mments, "W When investin n companies s, drill rly stage junior company permittin ng can alway ys be an issu ue. As an ear y, we wanted to mitigate risk for our s shareholders s early on, a and one way y to do this is to demon nstrate that t we can drill our property
y. We are de elighted to n now have ou ur full drill p permitting in n place for the spring w which puts us a ahead of the game.”
Mr. Marc cus Adam Biography
Mr. Adam m has over 10 years ex xperience in n both explo oration and mining. He was part o of the team tha at discovered and delineated the D Deep Kerr an nd Lower Iro on Cap deposits at the KSM Project for Seabridge e Gold. Sinc ce 2016, he has been re esponsible fo or designing g and condu ucting explorati ion program ms for Seabridge at the Is skut Project, , which cons sists of both h epitherma al and gold‐copper related d porphyry hydrotherm mal systems s hosted w within rocks s of the St tikine Assembla age. Mr. Adam’s exploration experience for Se eabridge Gol ld spans a v variety of de eposit types across multiple jurisdictio ons in the Northwest Te erritories, N Nevada and the Yukon. He is registere ed as a Professional Geologist in British Colum mbia. He hol lds an MSc in Geology from Western University a and a BSc in Geological S Sciences from m the Unive ersity of Leed ds (England).
Map of P Proposed Dri ill Locations, , Blue Property
Regional Geologic Se etting, Blue P Property
Referen nces: Engineer Gold Mine (Mi infile 104M 014 4), Laverdier M Mine (ARIS 916 62), Silver Lime Prospect (Minf nfile 104M 0 087), Tulsequah h Chief Mine M Minfile (104K 00 02)
Core Assets believes s that the south Atlin Lake area and d the LFZ, wh hich transec cts approxim mately 140 km f from Yukon border to t the Juneau Ice Sheet in n the United d States, has s been negle ected since the e last major exploration n campaigns in the 1970 0's. The LFZ Z passes dire ectly through the mobilization, and property y and is thought to p play an imp portant role e in the tr ransport, m erty. The past 50 years have concentr ration of nea ar surface m metal occurr rences acros ss the prope seen inc cremental advancements in the u understandin ng of porph hyry, skarn, , and carbo onate replacem ment type de eposits both globally and d in the Gold den Triangle e, with new d discoveries m made annually. This know wledge is now coming together i in the form m of discret te and effe ective explorati ion models that the C Company be elieves could d drive a m major discov very at the Blue Property
y. Core Asset ts intends to leverage t this shift in understand ding and bec come one o of the most extensive explo orers in the a area of the n northern Go olden Triangl le.
The Core e Assets team m has signifi icant explora ation experi ience and kn nowledge in the Atlin M Mining District, w where there e is an oppor rtunity for ne ew discoveri ies and deve elopment.
About th he Blue and Silver Lime p prospects
Laverdier Prospect
In 2018, the Company sent a geological team to the Blue Property for preliminary surface sampling. The field crew observed three areas of skarn exposure with massive and disseminated sulfide along the western side of the Llewellyn Fault Zone. A total of 28 grab samples were collected and sent for analysis with peaks values of up to 1.57 g/t gold, 46.5 g/t silver and 8.46% copper reported.
In 2019, Core Assets contracted Aurora Geosciences Ltd. for the execution of an induced polarization geophysical survey over the areas of high priority mineralization, which confirmed and highlighted areas of elevated chargeability response over visible skarns and identified multiple chargeable porphyry style targets.
Later in 2019, Nick Rodway, P. Geo. (Director of Core Assets Corp.) and Matthew Carter (Qualified Person of Dahrouge Geological Consulting Ltd.) visited the property to reanalyze some of the high priority areas identified by the 2018 and 2019 programs. The program successfully confirmed elevated gold, silver and copper values.
The amalgamation of Core Assets’ newly obtained geological information, and the historical exploration data, including the 1973 exploration program undertaken by Rio Plata Silver Mines Ltd., where a single diamond drill hole assayed 173.2 metres of 0.27% Cu from surface, and includes 1.60% Cu from 173.2‐179.2 metres and 1.40% Cu from 186.2–194.0 metres (ARIS 4996*), will serve as a basis for placement of future drill hole delineation.
Silver Lime Prospect
The Silver Lime Prospect is located just 10 km west of the Laverdier Prospect.
The Silver Lime Prospect encompasses two significant mineral occurrences, the Falcon and Jackie showings. The Falcon showing was discovered by Carmac Resources in 1990 and consists of two northwest trending quartz veins. Mineralization comprises galena, sphalerite, pyrite, chalcopyrite, arsenopyrite and stibnite. The vein system is exposed for 25 metres and the strike extensions are covered by talus. Individual veins are up to 2.2 metres wide. To the northwest, a quartz‐feldspar porphyry breccia contains smaller quartz veins with semi‐massive arsenopyrite and stibnite. Sample 88339 taken from a 2.20 metre vein system assayed 3.3 g/t gold, 2,641 g/t silver, 0.15% copper, 2.5% lead and 3.32% zinc, 5.0% arsenic and 2.56% antimony (ARIS 21162*).
In 2018, Zimtu Capital Corp., as part of a helicopter reconnaissance program, prospected the property and collected eight samples. The results confirmed the historic work of Carmac (1990), having returned values of 1.16 g/t gold, 913 g/t silver, 12.45% zinc and >20.0% lead.
The Silver Lime Prospect may represent a carbonate replacement deposit model (CRD). Massive sulphide pods occur in limestone and biotite‐muscovite‐sericite schists generally near the contacts between the units. Large zones of limonite alteration, cut by alaskite and hornblende porphyry dikes, usually surround the pods. The lenses appear to be widest near the dikes. Several faults follow the general direction of the dikes, suggesting structural control on the mineralization. Sulphides comprise galena, sphalerite chalcopyrite, pyrrhotite and pyrite. The pods are up to 30 metres long and 6 metres wide. The smaller pods host sphalerite and galena mineralization and the larger pods vary mineralogically along length. Galena, quartz and calcite dominate the northwest changing to pyrrhotite, chalcopyrite and pyrite in the centre and border areas (Minfile 104M 031*).
NI 43‐101 Disclosure
Nicholas Rodway, P.Geo, is a Director of the Company, and qualified person as defined by National Instrument 43‐101. Mr. Rodway supervised the preparation of the technical information in this news release.
*Historical technical numbers are not compliant with NI 43‐101 and are provided as an indication that mineralization is present., Historical information is relied on by the Company only as encouraging further exploration and assessment of the properties. All references listed under Minfile and ARIS can be found at the following British Columbia database links:
Minfile: https://minfile.gov.bc.ca/searchbasic.aspx
ARIS: https://aris.empr.gov.bc.ca/
About Core Assets Corp.
Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in B.C., Canada. The company currently holds the Blue property, which covers a land area of 14,814.86 Ha (148.15 km²). The project lies within the Atlin Mining District, which is a well‐known gold camp. The Atlin Mining District has been the focus of Core Assets’ exploration efforts since 2018, with increased exploration activities forecasted in the area moving into 2021.
On Behalf of the Board of Directors
CORE ASSETS CORP.
"Scott Rose"
Scott Rose 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 that Core Assets will immediately begin drilling following the spring magnetic and radiometric geophysical survey; that the Blue property has all the right ingredients to make a new porphyry discovery in British Columbia and plans to continue field work in early spring; that work on the Laverdier project could potentially lead to a new porphyry style discovery; and that there may be a commercially viable gold or other mineral deposit on our claims. 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 further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, 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; we 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 our plans. 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 Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.