Saturday 31st October 2020

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Update: Core Assets plans geophysics, increased drill permitting for newly expanded Golden Triangle project

by Greg Klein | September 29, 2020

Property-wide magnetic and radiometric geophysics are now in the planning stage for the Blue gold-copper-polymetallic project in northern British Columbia. Core Assets CSE:CC has also applied for permission to drill up to 18 holes on the recently expanded property that’s currently permitted for eight holes. Additional drill targets have been identified from a 2019 induced polarization survey and historic electromagnetic data.

Geophysics would begin in late October and the company hopes to have a rig busy next spring.

“We believe that it is important to understand the alteration associated with deep-seated secondary and tertiary structures that are fed by the Llewelyn Fault Zone,” said CEO Dave Hodge. “The Llewelyn Fault Zone exhibits characteristics of other prolific mining and exploration camps to the south and we believe that it has the potential to be associated with a district-scale plumbing system on our property. This survey will be yet another very important steppingstone in adding new geological layers that will help our highly experienced technical team lead us to discovery.”

 

Core Assets announces major land expansion in B.C.’s Golden Triangle

by Greg Klein | September 2, 2020

Once 10 kilometres apart, two properties now make up contiguous holdings for a company determined to become an extensive explorer in this busy northwestern British Columbia region. Newly listed Core Assets Corp CSE:CC has consolidated its Blue and Silver Lime projects with a nine-fold expansion that increases the company’s holdings from 1,658 to 14,815 hectares.

Core Assets announces major land expansion in B.C.’s Golden Triangle

A 2018 field program, along with advanced understanding
of porphyry, skarn and carbonate replacement-type deposits,
heightened interest in this under-explored property.

That covers the entire 15-kilometre glacially retreated portion of the Llewelyn fault zone between Llewelyn Glacier and Atlin Lake. The regional thrust fault is believed to be the main transport corridor for high-grade metals seen at surface on the property, Core stated.

An historic, non-43-101 drill hole at Blue hit 0.27% copper over 173.2 metres starting at surface. Other intercepts showed 1.6% over six metres and 1.4% over 7.8 metres. Grab samples collected in 2018 reached up to 1.57 g/t gold, 46.5 g/t silver and 8.46% copper.

Yet-to-be-drilled Silver Lime exhibits massive sulphides at surface. An historic, non-43-101 channel sample graded 3.3 g/t gold, 2,641 g/t silver, 0.15% copper, 2.5% lead, 3.32% zinc and 2.56% antimony over 2.2 metres. The 2018 grab sampling program brought assays up to 1.16 g/t gold, 913 g/t silver, 12.45% zinc and over 20% lead.

Core believes explorers have neglected the south Atlin Lake area and the Llewelyn fault. “The last 50 years have seen incremental advancements in the understanding of porphyry, skarn and carbonate replacement-type deposits both globally and in the Golden Triangle area, with new discoveries being made annually. The sum of this knowledge is now coming together in discrete and effective exploration models that the company believes could drive a major discovery.”

Core “hopes to become the premier explorer of the northernmost extent of the Golden Triangle saga,” said CEO Dave Hodge.“In addition to this, these newly acquired claims will help solidify potential deep-seated secondary and tertiary structures that are fed by the Llewelyn fault zone. This will allow for a more effective exploration program as we move to active exploration at the Blue and Silver Lime projects.”

With a team experienced in the Atlin district, Core’s next plans include a regional magnetic survey.

The new land costs the company $23,025 on signing. The vendor retains a 2% NSR, half of which Core may buy for $1 million.

Watch an interview with the Core Assets team.

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