Core Assets Discovers Additional Mineralized Copper Occurrence During Successful Winter Accessibility Assessment at the Blue Property

Rhea-AI Summary

Core Assets Corp. (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) announced the discovery of mineralized copper during a recent property assessment at the Laverdiere Project in British Columbia.

The assessment revealed a 3.9 km mineralized corridor with significant Cu-Fe mineralization. Samples indicated potassic altered granodiorite and Cu-Fe Skarn presence. The firm is optimistic about initiating diamond drilling in June 2022. Previous drilling highlighted significant copper findings, including 46 meters of 1.76% Cu from 1971, reinforcing the area's potential for further exploration and development.

Positive

• Discovery of a 3.9 km mineralized copper corridor at Laverdiere Project.
• Optimism for a June 2022 diamond drilling program.
• Previous drilling in 1971 showed 46 meters of 1.76% Cu.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 6, 2022 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) is pleased to announce the discovery of a mineralized copper occurrence observed during a property accessibility assessment carried out in late March of 2022 at the Laverdiere Project (the "Project"); eastern Blue Property (the "Property"), Atlin Mining District of NW British Columbia.

Highlights

• The Laverdiere Project was accessed via snowmobile from Atlin Lake in late March 2022. This historic Cu-Fe Skarn-Porphyry Target is located approximately 50km southwest, or a 45-minute ride, from the town of Atlin, BC.
• 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 3.9km (Figures 1-3).
• 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, comprised of 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 underway.
• Core Assets attended the 2022 Atlin Exploration Job Fair on March 25^th 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 CEO 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 via a 45-minute snowmobile trip from Atlin, demonstrating how cost-effective mobilizing materials to the Blue Property will be during consecutive exploration programs."

Figure 1: a) Cu-Fe Skarn mineralization in marble at the Laverdiere Project, March 2022; b) Malachite staining along fractures in potassic altered granodiorite at the Laverdiere Project, geologist at bottom for scale, March 2022.

Figure 2: Location Map of the Laverdiere Project of the Blue Property, highlighting the locations of historic adits, drill collars, and surficial samples in reference to the unsampled outcrop observed in March 2022.

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 via snowmobile by traveling southwest from the town of Atlin, BC 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 (Figure 3). 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- to very fine-grained magnetite with abundant malachite staining and traces of disseminated chalcopyrite.

Figure 3: a) Representative sample of malachite-stained Cu-Fe Skarn mineralization in marble from the Laverdiere Project, March 2022; b) Representative sample of potassic altered granodiorite from the Laverdiere Project, March 2022.

Both units described above were intersected during historic drilling efforts carried out at the Laverdiere Project in 1971 (Hobo Creek Copper Mines Ltd., 1971). The most significant result obtained during this drill campaign included 46 meters of 1.76% 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 meters of potassic altered granodiorite and an increase in sulphide (cpy-moly) mineralization was noted with increasing depth. Reported assay values from HC-5 ranged from 0.20% to 0.51% Cu between 111.25- and 117.95-meters 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

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 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 Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia., Canada. The Company currently holds 100% title ownership in the Blue Property, which covers a land area of109,994.4 ha (~1,010 km²). 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 140km 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 1980's. 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 BC'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.

On Behalf of the Board of Directors
CORE ASSETS CORP.

"Nicholas Rodway"

President & CEO
Tel: 604.681.1568

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include the Company's future objective of becoming a premier explorer; that the Company's exploration model can facilitate a major discovery on the Blue Property; that the Blue Property is prospective for copper, zinc and silver; that Core Assets will undertake additional exploration activity on the Blue Property; and that the Blue Property has substantial opportunities for a discovery and development; . It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; certain exploration methods that we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, geopolitical, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out or complete our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, the Company will not update or revise these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

SOURCE: Core Assets Corp.

View source version on accesswire.com:
https://www.accesswire.com/696231/Core-Assets-Discovers-Additional-Mineralized-Copper-Occurrence-During-Successful-Winter-Accessibility-Assessment-at-the-Blue-Property

FAQ

What did Core Assets Corp announce on April 6, 2022 regarding the Laverdiere Project?

Core Assets Corp announced the discovery of a mineralized copper occurrence at the Laverdiere Project during a property assessment.

What is the significance of the 3.9 km mineralized corridor discovered by Core Assets at the Laverdiere Project?

The 3.9 km corridor indicates significant Cu-Fe mineralization, enhancing the project's exploration potential.

When does Core Assets plan to start diamond drilling at the Laverdiere Project?

Core Assets is optimistic about starting the diamond drilling program in June 2022.

What were the notable findings from historic drilling at the Laverdiere Project?

Historic drilling in 1971 revealed significant results, including 46 meters of 1.76% Cu at the Laverdiere Project.

What type of mineralization was identified during Core Assets' assessment of the Laverdiere Project?

The assessment identified potassic altered granodiorite and Cu-Fe Skarn mineralization.