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Core Assets Corp
Symbol CC
Shares Issued 74,112,523
Close 2022-06-03 C$ 0.65
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Core Assets begins 2022 drill program at Laverdiere

2022-06-06 10:14 ET - News Release

Mr. Nicholas Rodway reports

CORE ASSETS BEGINS DIAMOND DRILLING AT THE LAVERDIERE PROJECT

Core Assets Corp.'s 2022 diamond drilling campaign has begun at the Laverdiere skarn-porphyry project, part of the Blue property; Atlin mining district of northwest British Columbia.

Highlights

  • The 1,500-metre diamond drilling campaign has commenced at the Laverdiere project.
  • Drilling at Laverdiere will target high-grade iron-copper-gold skarn and copper-molybdenum porphyry mineralization mapped over a surface extent of 800 metres between the historic North and South adits.
  • 2022 exploratory diamond drill targets and plans at the Laverdiere project include:
    • Pad 1 -- Confirming and extending the high-grade, historic massive Fe-Cu-Au skarn intersections and Cu-Mo porphyry mineralization proximal to the French adit;
    • Pad 2 -- Drill testing the undrilled Cu-rich skarn mineralization proximal to the historic South adit;
    • Pad 3 -- Drill testing and extending Fe-Cu-Au skarn and associated Cu-Mo porphyry mineralization at the North adit;
  • Following the completion of the drill campaign at the Laverdiere project, crews will mobilize to the Silver Lime project to complete an additional 3,500 metres of diamond drilling.

Core Assets' president and chief executive officer Nick Rodway comments: "The weather in Atlin this season has been spectacular, and we are drilling earlier than expected. While the diamond drill turns at Laverdiere, we will be mobilizing field crews to the Silver Lime CRD-porphyry project to complete preliminary field work, and geological mapping, to better prepare for drilling at this high-priority project in late June or early July."

2022 diamond drilling at the Laverdiere project

A total of 1,500 metres of exploratory HQ-sized diamond drilling is planned for the Laverdiere project in June. 2022 drilling efforts will aim to confirm and extend high-grade Fe-Cu-Au skarn and associated Cu-Mo porphyry-style mineralization observable for 800 metres along the western flank of Hoboe Creek and for up to 300 metres depth, situated between the historic North and South adits.

The Laverdiere project is located proximal to the Llewellyn fault zone, coincident with Hoboe Creek in the eastern Blue property. Laverdiere is characterized as a fine-to-coarse grained and locally massive Fe-Cu-Au-rich skarn (magnetite and/or magnetite-chalcopyrite-dominant plus or minus bornite-tetrahedrite-molybdenite-pyrite-pyrrhotite) hosted in dolomitic limestone and marble of the Devonian Boundary Ranges metamorphic suite. Along the western side of Hoboe Creek, dolomitic limestone is overlain by thin-bedded calcareous siltstone, quartzite, and schist -- all of which are locally folded, dip moderately to the west, and are intruded by an Early Cretaceous postaccretionary granodiorite intrusion of batholith size (Coast Plutonic Complex). The granodiorite is locally foliated, Cu-Mo-bearing, and exhibits potassic alteration in the form of secondary K-feldspar and shreddy biotite after hornblende along the Fe-Cu-Au skarn contact.

The highest-grade skarn occurrences observed at Laverdiere are hosted in dolomitic limestone, near the siltstone contact and along the margins of the granodiorite intrusion. Disseminated and quartz-vein/fracture-hosted chalcopyrite, molybdenite, magnetite, and malachite have been observed in granodiorite outcropping along the Lewellyn fault zone (LFZ/Hoboe Creek) for up to 3.9 kilometres south from the main Fe-Cu-Au skarn body (see news release dated April 6, 2022). An increase in disseminated and fracture-hosted chalcopyrite and molybdenite mineralization within the granodiorite unit at depth has also been reported in the deepest drill hole completed on the property to-date (DDH2-73 near the French adit).

National Instrument 43-101 disclosure

Mr. Rodway, PGeo, (licence No. 46541) (permit to practice No. 100359) is president, CEO and 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 ownership in the Blue property, which covers a land area of 111,648.8 ha (approximately 1,116 square km). 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 the 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 past 50 years have seen substantial advancements in the understanding of porphyry, skarn and carbonate-replacement-type deposits both globally and in B.C.'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 Atlin mining district's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

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