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Core Assets finds Cu occurrence at Laverdiere

2022-04-06 13:38 ET - News Release

Mr. Nicholas Rodway reports

CORE ASSETS DISCOVERS ADDITIONAL MINERALIZED COPPER OCCURRENCE DURING SUCCESSFUL WINTER ACCESSIBILITY ASSESSMENT AT THE BLUE PROPERTY

Core Assets Corp. has discovered a mineralized copper occurrence observed during a property accessibility assessment carried out in late March, 2022, at the Laverdiere project, eastern Blue property, Atlin mining district of northwestern British Columbia.

Highlights:

  • The Laverdiere project was accessed through snowmobile from Atlin Lake in late March, 2022. This historic copper-iron (Cu-Fe) skarn porphyry target is located approximately 50 kilometres (km) southwest, or a 45-minute ride, from the town of Atlin, B.C.
  • During the property visit, multiple previously unsampled showings were identified at the project -- confirming the existence of Cu-Fe mineralization between historic adits. Currently, the length of known surficial mineralization at Laverdiere measures 3.9 km.
  • Representative samples of two target lithologies were collected and consisted of potassic altered granodiorite containing disseminated chalcopyrite and magnetite, as well as Cu-Fe skarn, comprising fine-grained magnetite and chalcopyrite in marble with abundant malachite staining.
  • Prominent ridgeline and outcrop at the project are snow free and Core Assets remains optimistic for an early June start to the 2022 diamond drilling program.
  • Geophysical interpretations and drill targeting for the historic Laverdiere project, as well we the Silver Lime project (which includes the Jackie target and the 2021 Discovery zone) are currently under way.
  • Core Assets attended the 2022 Atlin Exploration job fair on March 25 to engage with the community and seek local applicants for various employment and skills training opportunities available for the 2022 exploration season.

Core Assets president and chief executive officer Nick Rodway comments: "Visiting the Blue property in late March was a game changer. We now have a better understanding of how easily accessible the property is during winter months. The Laverdiere project was reached effortlessly through a 45-minute snowmobile trip from Atlin, demonstrating how cost-effective mobilizing materials to the Blue property will be during consecutive exploration programs."

About the March, 2022, property visit

During the last week of March, 2022, Core Assets' chief executive officer and senior project geologist travelled to the Laverdiere project (eastern Blue property) to begin drill placement planning and to gauge property accessibility during winter months. The Laverdiere project was accessed through snowmobile by travelling southwest from the town of Atlin, B.C., for 45 minutes. Multiple unsampled exposures of magnetic, copper-stained lithologies were identified along a 3.9-kilometre mineralized corridor coinciding with the Llewellyn fault. Rock units identified during the property visit consisted of medium-grained granodiorite and fine-grained Cu-Fe skarn mineralization hosted in marble. The granodiorite unit exhibits locally intense potassic alteration in the form of potassium feldspar and shreddy, fine-grained biotite after hornblende. This lithology also contains minor fine-grained, disseminated chalcopyrite and magnetite (locally altered to hematite) throughout, with more generous amounts of disseminated chalcopyrite and malachite staining observed along internal fractures. Representative Cu-Fe skarn samples are composed of fine-grained to very-fine-grained magnetite with abundant malachite staining and traces of disseminated chalcopyrite.

Both units described above were intersected during historic drilling efforts carried out at the Laverdiere project in 1971. The most significant result obtained during this drill campaign included 46 metres of 1.76 per cent Cu from surface in hole HC-1. Additionally, disseminated and fracture-coating chalcopyrite and molybdenite mineralization hosted in potassic altered granodiorite was observed at the bottom of three out of the five drill holes completed in 1971. HC-5, the deepest drill hole completed by Hobo Creek Copper Mines that season, intersected 65 metres of potassic altered granodiorite and an increase in sulphide (copper-molybdenum (Cu-Mo)) mineralization was noted with increasing depth. Reported assay values from HC-5 ranged from 0.20 per cent to 0.51 per cent Cu between 111.25 metres and 117.95 metres depth (end of hole) and indicate the presence of a Cu-Mo porphyry link to the high-grade Cu-Fe skarn mineralization at the Laverdiere project.

National Instrument 43-101 disclosure

Mr. Rodway, PGeo, is president, CEO and 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.

About Core Assets Corp.

Core Assets is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The company currently holds 100-per-cent title ownership in the Blue property, which covers a land area of 109,994.4 hectares (ha) (approximately 1,010 square kilometres). The project lies within the Atlin mining district, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue property hosts a major structural feature known as the Llewellyn fault zone (LFZ). This structure is approximately 140 km in length and runs from the Tally-Ho shear zone in Yukon, south through the Blue property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980s. The LFZ plays an important role in mineralization of near-surface metal occurrences across the Blue property. The last 50 years have seen substantial advancements in the understanding of porphyry-, skarn- and carbonate-replacement-type deposits both globally and in British Columbia's Golden Triangle. The company has leveraged this information at the Blue property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of the Atlin mining district's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

We seek Safe Harbor.

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