May 17, 2022
Vancouver, May 17, 2022 – Core Assets Corp., (“Core Assets” or the “Company”) (CSE:CC) (FSE:5RJ) (OTC.QB:CCOOF) is pleased to announce results and interpretations from the 2021 Versatile Time Domain Electromagnetics (VTEM) Geophysical Survey completed at the Silver Lime Carbonate Replacement Project (the “Project” or “Silver Lime”), central Blue Property (the “Property”), Atlin Mining District of NW British Columbia.
• Core Assets’ 2021 VTEM Geophysical Survey detected large-scale, untested conductivity anomalies (~104km2) that are interconnected at depth by local vertical conductive features (Figure 1). Conductivity anomalies extend well beyond areas prospected during the 2021 field season.
• The central portion of the conductivity anomalies coincide with the surficial 6.6km x 1.8km mineralized corridor indicating that this system could have a significantly larger mineralized footprint below surface (Figure 1). Click link for geophysical resistivity/conductivity model video. (https://www.youtube.com/watch?v=yoj3owPsK1s)
• A magnetic and corresponding resistivity high intensifies to the northwest of the Silver Lime Project area and coincides with a potentially causative felsic intrusion (source of ore-bearing fluids) of Eocene age (Figure 1).
• Silver Lime currently boasts an average surficial grade (365 rock samples) of 4.9% Zn, 2.0% Pb, 0.33% Cu, and 92.0g/t Ag within the extensive 6.6km x 1.8km mineralized corridor making it the largest known, untested exposure of carbonate replacement mineralization (CRM) globally. (Figure 1).
• CRM at Silver Lime can be traced along surficial strike lengths of 450m to 1km (i.e., Grizzly Target), with an average surficial grade of 164.7 g/t Ag, 0.42% Cu, 3.8% Pb and 7.1% Zn (19 rock samples over 450m) (Figure 2).
• The Silver Lime Project checks all boxes for CRM exploration criteria including being hosted within a favourable tectonomagmatic terrane (long lived geologic history), and the surface exposure represents the top of the carbonate succession with room to grow, and numerous CRM samples grading >400g/t Ag with associated high-grade Zn, Cu, and Pb.
• Diamond drilling at the Silver Lime Project is planned for July 2022. Desktop mapping, modelling, and additional studies focused on determining the relative timing of mineralization with respect to intrusive phases and deformation is ongoing.