Yesterday after the market closed, Core Assets Corp. the trend-setting announcement to enlarge their property by a factor of 9 in order to control a 148 km2 land parcel in the north of the world-famous Golden Triangle of British Columbia. In the search for a large and highly mineralized copper-gold-porphyry deposit, a correspondingly large property is very helpful. A gold-copper explorer rated as cheaply as Core Assets is very rare these days!
With this immensely important step in consolidating the entire area around its Blue and Silver Lime properties, Core Assets is making the impression that the company knows that it will make a lasting impression on its shareholders by leading up to a major discovery an extensive land package secures before a run on this neglected exploration area begins.
Most importantly, Core Assets has some impressive facts and figures to back up its strategy to become the leading player in the Atlin Mining District:
1) Gigantic potential: The historical results of drilling and rock samples from the property are an impressive illustration of where the journey is headed, as many other successful projects in the Golden Triangle have similar ore grades.
2) The geological structure is the key to success: “Core Assets now holds 100% (15 km) of the glacial molten portion of the Llewelyn fault zone, (…) a regional fault that runs right through the property and serves as the main transport corridor for the mobilization and concentration of high grade metals on the surface of the earth Property applies. “
Land Acquisition Map: Core Asset’s holdings, known as Blue and Silver Lime, have now been combined and expanded from 1,657.66 hectares (16.58 km²) to 14,814.86 hectares (148.15 km²).
Selected exploration, development and mining projects in the “Golden Triangles” of British Columbia (Greens Creek Mine is in Alaska). Numbers shown may be rounded as made public by the companies (Au = Gold; Ag = Silver; Cu = Copper; Koz = Thousand Ounces; Moz = Million Ounces; Blb = Billion Pounds; M + I = Measured + Indicated Resources; P + P = proven + probable reserves; Eq = equivalent). Note that the results of the aforementioned former producers, active mines, exploration and development projects in the area are not necessarily indicative of the potential of the Blue property and should not be understood or interpreted as producing similar results on the Blue property become. The historical information relating to the 1973 well on Core Assets Corp.’s Blue property are only relevant as an indication that the property has some level of mineralization and no resources, reserves or estimates are inferred. A qualified person has not done sufficient work to classify the historical information as current mineral resources or mineral reserves; and neither Rockstone nor Core Assets Corp. treats the historical information as current mineral resources or mineral reserves.
Heavily mineralized rock samples (Found on the 2018 exploration program that confirmed the “Copper-Silver-Gold Mineralization Potential on the Blue Property.”
Yesterday’s press release (freely translated):
• The land position increased considerably by nine times the original size to now 148.14 km².
• Core Assets now holds 100% (15 km) of the portion of the Llewelyn fault zone that has been retracted from the glacierwhich extends from the northernmost extension of the existing Llewelyn Glacier in the north to Atlin Lake. The Llewelyn Fault is a regional thrust fault that runs directly through the property and is considered the main transport corridor for the mobilization and concentration of high grade metals on the surface of the property.
• There is a historic borehole on the Blue Property that 173.2 m with 0.27% copper from the earth’s surface, as well as 1.6% copper between 173.2-179.2 m and 1.4% copper between 186.2-194 mwith mineralization open in all directions.
• On the Silver Lime property, massive sulphides were found directly on the surface of the earth; with historical levels of 3.3 g / t gold, 2641 g / t silver, 0.15% copper, 2.5% lead, 3.32% zinc and 2.56% antimony over 2.2 meters, although there has never been any drilling here.
• Core Assets hopes to develop and conduct a regional magnetic geophysics survey to better delineate secondary and tertiary structures associated with mineralization on the property and to better define drill targets.
CEO David Hodge commented, “Core Assets continues to expand its land position within the Atlin Mining Camp, hoping to become the leading explorer in the northernmost stretch of the Golden Triangle saga. In addition, these newly acquired properties will consolidate potential low-lying 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 on the Blue and Silver Lime projects. “
Core Assets believes that the southern Atlin Lake area and the Llewelyn Fault Zone, which extends approximately 140 km from the Yukon border to the Juneau Ice Sheet in the United States, have been neglected since the last major exploration campaigns in the 1970s. Over the past 50 years, the understanding of porphyry, skarn and carbonate displacement deposits has gradually improved both globally and in the Golden Triangle area, with new discoveries being made annually. The sum of this knowledge now comes together in effective exploration models that the Company believes could lead to a meaningful discovery. Core Assets intends to capitalize on this rise in understanding and become one of the largest exploration companies in the northernmost expanse of the Golden Triangle saga.
The Core Assets team has significant experience and knowledge of the Atlin Mining District. They explored the entire southern part of Atlin Lake, where world-class discoveries and mine development are possible. The acquisition of these additional lots is further evidence of this strategy as it continues to define high priority goals.
Visible Bornite (Cu5FeS4) mineralization in magnetite-rich limestone, found in 2018 outside the “French Adit” on the Blue property.
Malachite (Cu2[(OH)2|CO3]) Mineralization crust on weathered rock surface at an outcrop on the Blue property.
About the Blue and Silver Lime ProjectsBlue Lot
In 2018 the company dispatched a geological team to the Blue property to take initial rock samples from the earth’s surface. The field crew observed 3 areas of skarn exposure with massive and disseminated visible sulphides along the western side of the Llewellyn Regional Fault Zone. 28 grab samples were collected and sent to the laboratory for geochemical analysis, showing grades of up to 1.57 g / t gold, 46.5 g / t silver and 8.46% copper.
In 2019, Core Assets commissioned Aurora Geosciences Ltd. conducting an induced polarization geophysical survey in the areas of high priority mineralization that confirmed areas of increased chargeability response over visible skarns and identified several rechargeable porphyry-style targets.
Later in 2019, Nick Rodway, P. Geo. (Director of Core Assets Corp.) and Matthew Carter (Qualified Person of Dahrouge Geological Consulting Ltd.) used the property to re-analyze some of the high priority areas identified in the 2018 and 2019 programs. The program successfully confirmed elevated gold, silver and copper grades.
The amalgamation of newly acquired geological information from Core Asset and historical exploration data, including that obtained in 1973 from Rio Plata Silver Mines Ltd. conducted exploration program in which a single core hole intersected 173.2 meters at 0.27% copper from the surface, 1.6% copper between 173.2-179.2 meters and 1.4% copper between 186.2-194 m, will serve as the basis for completing further structural analysis of the well placement. This could potentially lead to a new porphyry style discovery in British Columbia, Silver Lime Property
The Silver Lime Property is located just 10 km west of the Blue Property (now adjacent) and was originally acquired by Core Assets as a secondary project. A rigorous desktop geological study by the Core Assets engineering team determined that the same exploration model revolving around fluid mobilization of the Llewellyn fault zone also applies to the west.
Historically, the Silver Lime Property consisted of 2 significant indications of deposits known as the Falcon and Jackie Showings. The Falcon deposit was discovered by Carmac Resources in 1990 and consists of 2 northwest trending quartz veins. The mineralization includes galena, sphalerite, pyrite, chalcopyrite, arsenopyrite and stibnite. The vein system is exposed over 25 m and the spreading-trend extensions are covered by a talus. Individual veins are up to 1.2 m wide.
In the northwest, a quartz-feldspar-porphyry breccia contains smaller quartz veins with semi-solid arsenopyrite and stibnite. A 2.2 m wide rock sample from the vein system returned 3.3 g / t gold, 2641 g / t silver, 0.15% copper, 2.5% lead, 3.32% zinc, 5% arsenic and 2.56% Antimony (Assessment Report 21162).
In 2018, Zimtu Personal-Financial.com Corp. explored as part of a helicopter reconnaissance program the property and removed 8 rock pebbles. The results confirmed the program carried out by Carmac in 1990 and returned values of 1.16 g / t gold, 913 g / t silver, 12.45% zinc and> 20.0% lead.
The Silver Lime Property may fit a Carbonate Displacement Deposit (CRD) model. Massive sulphide pockets occur in limestone and biotite-muscovite-sericite schist, which are generally located near the contacts between the rock units. Large zones of limonite alteration, intersected by alaskite and hornblende porphyry dikes, usually surround the pockets. The lenses appear to be widest near the dikes. Multiple faults follow the general direction of the veins, suggesting structural control of the mineralization. The sulfides include galena, sphalerite-chalcopyrite, pyrrhotite, and pyrite. The dikes are up to 30 m long and 6 m wide. The smaller pockets (“pods”) host sphalerite and galena mineralization, and the larger pockets vary mineralogically along their length. Galena, quartz and calcite dominate in the northwest and merge into pyrrhotite, chalcopyrite and pyrite in the middle and in the border areas (Minfile 104M 031).
Under the terms of the agreement, the Company acquired a 100% interest in the property claims by paying $ 23,025.11 when the purchase agreement was signed. The seller retains a 2% Net Smelter Return Royalty (NSR) on the property, with the company having the right to purchase half (1%) for $ 1 million. [Ende der Pressemitteilung]
Regional and property geology
“A large regional structure that Llewellyn fault, contrasts the Nisling Terrane, a Proterozoic to Lower Paleozoic continental margin connection (west), with the Upper Triassic to Central Jurassic northern Stikine Terrane (east) … The Llwellyn fault is over 100 km long and runs northwest from the Tulsequah area to Border between British Columbia and the Yukon. It is characterized as a steeply sloping, brittle dextral streak-sliding structure (Mihalynuk et al., 1994, 1999) … In this area, the Stikine Terrane consists of layers of the Upper Triassic belonging to the Stuhini group; this group consists of limestones, arkosan sandstone, basaltic streams and breccias, debris flow conglomerate, turbiditic volcanic sandstone and argillite (Bultman, 1979; Milhalynuk and Mountjoy, 1990). The northwestern part of the Stikine Terrane is an exceptionally productive area for economic ore deposits and has been known as the “Golden Triangle”. The rocks of this area are known to host volcanogenic massive sulphide, alkaline porphyry copper-gold and epithermal precious metals.
Lithologies emerging from the earth’s surface, which belong to the Stuhini group, are only faintly recognizable on the property, although they are mainly recognizable along its eastern or northern property boundaries. The lowest unit of the Stuhini Group, east of the Llwellyn fault zone, is a sheared, brecciated and locally calcite-veined basalt. Intrusive granitic units on the Blue property consist of biotite granite to granodiorite and biotite hornblende granite to alaskite. These granitic intrusions predominantly span a temporal range from the Late Triassic to the Middle Cretaceous, although more recent intrusions with smaller relative volumes occur throughout the area (Jackson et al., 1990).
“The Blue property spans the eastern border of the Coast Belt and the western border of the Intermontane Belt … along the Hoboe Creek Valley in the Canadian Cordillera … The Coast Belt consists mainly of granite rock that spans a Jurassic to Cenozoic period. The remaining parts of the Coast Belt are complex deformed, high-grade metamorphic sedimentary and volcanic rocks that have formed in igneous arches or accretion complexes by the Proterozoic to Holocene at the latest (Monger and Price, 2002). The Intermontane Belt in northwest British Columbia is represented by the Stikine Physiographic Unit. Sedimentary, granitic and volcanic rocks geologically define the Intermontane Belt, which extends over the following facies and time ranges: island arches and accretion complexes from the Devonian to the early Jurassic; Continental arcs, marine and terrestrial class systems from the Middle Jurassic to the Cenozoic; Granite rocks from the Devonian to the Cenozoic (Monger and Price, 2002). ” (Source: Technical Report on the Blue Property, 09/2019)
Active mining and exploration projects in the Skeen region in 2014 (Rockstone Blue property added) Source: Kyba, J., 2015. Exploration and mining in the Skeena Region, British Columbia. In: Exploration and Mining in British Columbia, 2014. British Columbia Ministry of Energy and Mines, British Columbia Geological Survey, Information Circular 2015-2, pp. 97-114
About Core Assets Corp.
Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of resource projects in British Columbia, Canada. The Company currently owns the Blue and Silver Lime properties which together cover 14,814.86 hectares (148.15 km²). Both projects are located within the Atlin mining district, which is a well-known gold camp. The Atlin Mining District has been the focus of core asset exploration efforts since 2018, with increased exploration forecast for the entire area through 2021. Meet the Core Assets Team!
An investor presentation of core assets will take place on Thursday, September 10th via a Zoom online meeting. Further details: See Rockstone Research website. Company details
Core Assets Corp.
Suite 1450 – 789 West Pender Street
Vancouver, BC, V6C 1H2 Canada
Company formation: April 20, 2016
IPO: July 27, 2020
Shares in issue: 21,216,000
Canada Symbol (CSE): CC
Current Price: $ 0.12 CAD (09/02/2020)
Market Personal-Financial.comization: $ 2.6M CAD
Germany abbreviation / WKN: Not listed Contact
Stephan Bogner (Dipl. Kfm.)
8260 Stein am Rhein, Switzerland
Disclaimer: Please read the full disclaimer in the full research report as a PDF on the Rockstone Research website, as fundamental risks and conflicts of interest prevail. The author, Stephan Bogner, is employed by Zimtu Personal-Financial.com Corp. paid, with part of the author’s duties being to research and write about companies that Zimtu is invested in. While the author was not paid and hired directly by the company being analyzed, the author’s employer, Zimtu Personal-Financial.com, would benefit from a stock price surge. The author owns shares in Core Assets Corp. and Zimtu Personal-Financial.com Corp. and would benefit from stock price increases. It may also be the case in some cases that the analyzed companies have a joint director with Zimtu Personal-Financial.com (this is the case). Core Assets Corp. pays Zimtu Personal-Financial.com for the preparation and distribution of this report and other marketing activities. Thus, there are several conflicts of interest. The rights of use for the (modified) cover picture were granted by PUDRA acquired.
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