Core Assets Corp (CSE: CC) has completed its 2022 drill program at its flagship Blue Property, found in the Atlin Mining District of northwestern British Columbia. The program saw a total of 7,368 metres of diamond drilling conducted, of which 5,565 metres were focused on the Silver Lime Porphyry-CRD project.
All holes conducted at the Silver Lime Project are said to have intersected skarn and chimney-style massive sulphide CRD feeders. Mineralization is believed to be continuous and interconnected at depth, with mineralization believed to track back to the source of the porphyry.
“The goal of the 2022 drilling program was to demonstrate that the CRD occurrences seen at surface are traceable in the subsurface. We not only hit significant CRD and skarn mineralization in every drill hole this season, but we also tapped into a molybdenum-rich porphyry. Molybdenum porphyries are commonly responsible for being the source to world class CRD deposits,” said CEO Nick Rodway.
Assay results from the drill program have yet to be received, however the company indicated that nearly continuous porphyry-style mineralization was intersected in one hole at the Sulphide City Target over a span of 471 metres. Three other holes at the target meanwhile are said to have intersected molybdenite-pyrite±chalcopyrite mineralization. The porphyry body as a result now is believed to be 310 metres long from north to south, while 240 metres wide from east to west, while remaining open.
Holes conducted at both the Jackie Target and Grizzly Target have been sent off for rushed analyses, for which results are expected to be received before the end of the month. Drilling conducted between Jackie and Sulphide City meanwhile is said to have intersected porphyry-style mineralization along with dense veins over widths beyond 375 metres.
“We are thrilled to have intercepted so much widespread mineralization in the first ever drill program at the Silver Lime Project. Due to slow turnaround times for assay results, we have decided to rush analyses for select CRD intervals from two holes at Silver Lime to determine near surface grade from this large system,” added Rodway.
Core Assets Corp last traded at $0.405 on the CSE.
FULL DISCLOSURE: Core Assets Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Core Assets Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
