Core Assets Corp. Dec. 14 reported that an induced polarization geophysical survey carried out in August has identified two large porphyry targets below the zinc-lead-silver-copper mineralization found at surface along a 2,400-meter-long trend at Silver Lime, a carbonated replacement deposit (CRD)-porphyry project on the company's Blue property in Northern British Columbia.

Lying alongside the Alaska border in BC's Atlin Mining District, Blue is a 275,890-acre (111,650 hectares) land package covering high-grade skarn and carbonate replacement and porphyry prospects enriched with silver, zinc, lead, copper, and gold.

The two most advanced project areas on the Blue property are Laverdiere, a high-grade skarn target in the southeastern area of the land package, and Silver Lime, a CRD and porphyry prospect area about 15 kilometers (nine miles) to the west.

Over the past two exploration seasons, Core Assets has carried out drilling to test the Sulfide City, Jackie, Grizzly, Pete's, and Gally targets along the 2,400-meter-long trend at Silver Lime.

Highlights from the 2022 and 2023 drilling include:

• 1.25 meters averaging 215 grams per metric ton silver, 9.9% zinc, 8.9% lead, and 0.36% copper in hole SLM22-001 (Jackie).

• 5.64 meters averaging 254 g/t silver, 4.8% zinc, 5.1% lead, 0.11% copper, and 0.12 g/t gold in hole SLM22-011 (Grizzly).

• 3.33 meters averaging 138 g/t silver, 7.3% zinc, 7.2% lead, and 0.54% copper in hole SLM23-016 (Pete's).

• 2.12 meters averaging 260 g/t silver, 5.9% zinc, 5.2% lead, and 0.19% copper in hole SLM23-019 (Pete's).

• 6.4 meters averaging 159 g/t silver, 7.7% zinc, 8.7% lead, and 023% copper in hole SLM23-028 (Pete's).

• Eight meters averaging 139 g/t silver, 2.3% zinc, 1.2% lead, and 0.18% copper in hole SLM23-048 (Gally).

In an effort to identify the porphyry source of the CRD mineralization identified on the surface, Core Assets contracted DIAS Geophysical Corp. to complete a modern IP geophysical survey over a 2.3-square-kilometer (570 acres) area covering the Sulphide City, Pete's, and Gally targets.

This survey identified two significant deep-seated porphyry targets, one below Sulphide City and another in an undrilled area about 1,350 meters to the north.

The roughly 1,500- by 500-meter anomaly below Sulphide City is coincident with porphyry mineralization encountered in SLM22-006, a 2022 hole that cut 22.25 meters averaging 12 g/t silver, 0.1% copper, 0.2% zinc, 0.1% lead, and 0.007% molybdenum from a depth of 447.75 meters.

"Our new IP geophysical data indicates that the drilling completed at Sulphide City in 2022, which intersected anomalous copper at the bottom of hole SLM22-006, was not deep enough to properly test the core of this large and hot chargeability anomaly below Sulphide City," said Core Assets President and CEO Nick Rodway.

The company says overlapping magnetics and chargeability geophysical anomalies indicate that the Sulphide City anomaly may connect to the untested anomaly north of Pete's target.

A follow-up geophysical survey and deeper exploratory drilling to the significant geophysical anomalies is planned for 2024.

In November, Core Assets closed a C$3.6 million financing to fund 2024 exploration.

Core Assets Corp.

This 3D block model shows the overlap of chargeable and conductive zones along the 1,500-meter Pete's-Gally trend.

"Now that we are fully funded, we can test these exciting features with deeper drilling and continue to connect the dots of this robust and high-grade CRD-porphyry system at Silver Lime," Rodway added.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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