Core Assets Identifies Probable Porphyry Center Near 3.24% Copper at Laverdiere

Rhea-AI Summary

Core Assets Corp (CCOOF) has presented an updated 3-D geologic model and review of assay results from the Laverdiere Copper Project in British Columbia. The Valley Zone revealed significant mineralization with samples returning up to 3.24% Cu (with 82g/t Ag, 0.56g/t Au and 0.053% Mo) and 0.32% Mo in 2022.

The company identified a 1-kilometer-wide circular magnetic low anomaly, interpreted as a potential high-grade porphyry center. The 2022 drilling program confirmed high-grade copper skarn and porphyry mineralization over 1 km, with notable intercepts including 267.05m of 0.17% Cu from surface in LAV22-001, including 48.54m of 0.90% Cu.

The Project spans a 5km x 8km area of Cretaceous copper porphyry and shows potential for shear-hosted gold mineralization, with one drill hole returning 4.59g/t gold over 1.51m.

Positive

• High-grade copper mineralization discovered with samples up to 3.24% Cu
• Identification of 1-kilometer-wide potential high-grade porphyry center
• Significant drill intercepts including 267.05m of 0.17% Cu from surface
• Project shows dual potential for copper porphyry and gold mineralization

Negative

• None.

VANCOUVER, BC / ACCESS Newswire / February 18, 2025 / Vancouver, February 18, 2025 - Core Assets Corp ("Core Assets" or the "Company") (CSE:CC) FSE:5RJ)(OTCQB:CCOOF) is pleased to present an updated 3-D geologic model, as well as a review of recent and historic assay results from the Laverdiere Copper Project (the "Project"), eastern Blue Property (the "Property"), Atlin Mining District of NW British Columbia.

CLICK HERE TO VIEW A VIDEO HIGHLIGHTING THE LAVERDIERE COPPER PROJECT

HIGHLIGHTS

• At the Valley Zone, a series of sheeted mineralized porphyry veins and fractures hosted in altered granodiorite have been mapped and sampled over a 1-kilometer east-west trend which returned up to 3.24% Cu (with 82g/t Ag, 0.56g/t Au and 0.053% Mo) and 0.32% Mo (with 1.03% Cu, 4g/t Ag) in 2022, and 0.83% Cu, 47g/t Ag, 0.44g/t Au and 0.007% Mo in 2024 (Figure 1, Table 1).
  

• Veins hosting significant Cu-Mo-Ag-Au mineralization measuring up to 20-centimeters-thick at the Valley Zone are concentrated in an area of increased structural complexity coincident with the edges of a 1-kilometer-wide and circular ("donut"-shaped) magnetic low geophysical anomaly that persists throughout multiple datasets (Figure 2).

• Mineralized porphyry veins sampled at surface and in 2022 drill core show an overall increase in grade toward the anomaly interpreted as the location of a high-grade porphyry center.
  

• The Valley Zone represents a highly prospective area of increased hydrothermal activity and high-grade porphyry copper mineralization located 2km southwest and 700m up-elevation from the Main Zone that was drill-tested in 2022. Both high-grade zones remain open for expansion in multiple directions.
  

• 2022 drilling confirmed high-grade copper skarn and porphyry mineralization for over 1 km following the north-south trend of the Llewellyn Fault along the eastern edge of the Laverdiere porphyry. The top drill intercepts obtained from the Main Zone in 2022 include:

  • LAV22-006 (North Adit) - 107.38m of 0.11% Cu, 0.023% Mo, 0.9g/t Ag, 0.02g/t Au from 144.62m.

  • LAV22-001 (French Adit) - 267.05m of 0.17% Cu, 1g/t Ag, 0.04g/t Au from surface, including 48.54m of 0.90% Cu, 6g/t Ag, 0.11g/t Au from 31.46m depth.

  • LAV22-002 (French Adit) - 223m of 0.11% Cu, 0.006% Mo, 2g/t Ag, 0.05g/t Au from 15m depth, including 54m of 0.19% Cu, 0.002% Mo, 3g/t Ag, 0.12g/t Au from 173m depth, and 24.42m of 0.32% Cu, 0.005% Mo, 4g/t Ag, 0.12g/t Au from 207.23m depth.

  • LAV22-005 (South Adit) - 83.22m of 0.12% Cu, 0.016% Mo, 0.8g/t Ag, 0.03g/t Au from 6.9m depth.

• LAV22-002 - the deepest hole completed to-date - intersected porphyry copper-molybdenum mineralization at the Main Zone at true depths of up to 350m. Considering the 700m elevation change between the Valley and Main zones, there is a high probability of intersecting over 1km of copper-gold porphyry mineralization by drill-testing the Valley Zone.
  

• Historic adits driven into the massive and high-grade copper skarn at the Main Zone in the early 1900s returned up to 1.20% Cu over 27m¹ and historic drill assays report 175m of 0.24% Cu obtained 100m north of the French Adit in 1974².

• The Project is also considered highly prospective for shear-hosted gold mineralization. The first drill hole completed at the Laverdiere Project in 2022 (LAV22-001) was drilled steeply east to test the LFZ and intersected quartz-carbonate-pyrite veins in deformed mafic volcanic rocks that returned 4.59g/t gold over 1.51m from 163.49m depth. The Llewellyn Fault (LFZ) is considered spatially related to gold mineralization along its entire length (>100km).

• At the Blue Property, three (3) copper-molybdenum-silver-bearing porphyries and their associated high-grade massive sulphide skarn showings record at least 50 million years of hydrothermal activity over a 30-kilometer trend, presenting a unique opportunity for strategic investors in an emerging mining district.

Core Assets' President & CEO, Nick Rodway commented "The Laverdiere Copper Project contains 5km x 8km of highly prospective, under-explored Cretaceous copper porphyry situated at the tip of the Stikine Terrane in northwest BC. Mineralization at the newly defined Valley Zone surrounds an impressive donut-shaped magnetic low geophysical anomaly measuring approximately 1km by 1.2km across and is interpreted as a probable high-grade porphyry center. The Laverdiere Copper Project is drill-ready and easily accessible. Prospectivity studies are continuing in anticipation of future exploration programs."

At the Laverdiere Copper Project, an extensive Cretaceous granodiorite intrusion hosts widespread Cu-Mo-Ag-Au porphyry mineralization over a 1.8km by 2.2km trend. The intrusion is associated with zones of very high-grade Fe-Cu-Au-Ag massive sulphide skarn that are exposed at surface along the western flank of the prolific Llewellyn Fault Zone (LFZ) at the porphyry-marble contact. In 2024, high-grade porphyry mineralization at the newly defined Valley Zone was structurally mapped and sampled, and updates to the Laverdiere Copper Project 3-D geologic model were completed.

Figure 1: 3-D depiction of modelled geology at the Laverdiere Copper Project highlighting the two main Target areas (Valley and Main) and the widespread distribution of significant copper grades at surface and along the Llewellyn Fault. Drillhole intercepts are reported as length weighted values and true width is unknown currently.

References
¹White, W.H. (1969): Geology and economic prospects of the Laverdiere property
² Fustos, A. (1974). Report on the Results of the 1973 Exploration Programme on the Loon Group. BC Ministry of Energy, Mines and Petroleum Resources, Assessment Report 4996

Figure 2: Various datasets from the 1973 Aeromagnetic (Rio Plata, 1973) and the 2021 VTEM (Geotech, 2021) Surveys showing overlapping, circular magnetic low geophysical responses, interpreted as a zone of increased hydrothermal alteration coinciding with a high-grade porphyry centre at the Laverdiere Copper Project. The 2021 Calculated Vertical Gradient (CVG) data show multiple, grouped donut-shaped magnetic lows at the Valley Zone that may represent clustered porphyry centres.

ABOUT THE LAVERDIERE COPPER PROJECT

The Laverdiere Copper Project is a low-elevation, drill-permitted, early-stage high-grade Cu-Mo-Ag-Au porphyry-skarn Target. The Project has been sporadically explored since the early 1900s, without ever having received a significant exploration program. Adits driven into the Laverdiere area in the early 1900s reportedly returned up to 27m grading 1.20% Cu. The Llewellyn Fault Zone, a regional and strongly metal-endowed fault, cuts through the Laverdiere Copper Project for 14 km of strike length and marks the contact between the Yukon-Tanana and Stikine Terranes in the Project area. Currently only 1km of the total strike length of this economically important fault zone has been explored. Diamond drilling completed 125m north of the French Adit in 1974 reportedly returned 175m of 0.27% Cu, including 6m of 1.60% Cu and 7.8m of 1.60% Cu. Core Assets' inaugural diamond drilling campaign at the Laverdiere Copper Project in 2022 returned up to 48.5m of 0.90% Cu, 6g/t Ag, and 0.11g/t Ag from 31.46m depth in drill hole LAV22-001 (French Adit, 223m of 0.11% Cu, 2g/t Ag, and 0.006% Mo from 15m depth in LAV22-002 (French Adit), and 107.38m of 0.11% Cu, 0.023% Mo, 0.9g/t Au, and 0.02g/t Au from 144.62m depth in hole LAV22-006 (North Adit). The entirety of the 2022 Laverdiere Program results are summarized in the news release dated March 29^th, 2023.

Members of the Core Assets technical team spent 1 field day at Laverdiere during the 2024 field season following up on a poorly documented zone with high-grade Cu and Mo grab samples. Core Assets geologists mapped and sampled continuous east-west striking and steeply dipping, strongly-to-weakly mineralized joints, fractures, and veins hosted in a medium-grained equigranular granodiorite with local feldspar-quartz granitic porphyry xenoliths. The zone of highest-grade and highest concentration of Cu-Mo-bearing stringers and veins has currently been delineated over a 1km by 150m area and remains open for expansion. Similar prospective anomalies exist throughout the Laverdiere Porphyry.

In 2024, a 20cm thick east-west striking quartz vein grading 0.44 g/t Au and 0.83% Cu was discovered and sampled during the reconnaissance day. Another stringer-oriented northeast-southwest returned anomalous values for Cu and Ag. The samples that generated interest in the Valley Zone at Laverdiere are summarized in Table 1 below, along with 2024 results. Historic highlights include samples 8801 and 8803, which returned values of 0.11g/t Au and 2.73% Cu, respectively. Samples collected in 2022 returned values up to 3.24% Cu and 3210 ppm Mo. In addition to the reconnaissance field program, the Laverdiere geological model was revisited and remodelled by Core Assets geologists over the Fall of 2024.

Drilled and mapped high-grade copper-bearing skarn mineralization at Laverdiere is coincident with embayments in the contact zones of the expansive Cretaceous intrusions on the west side of Hoboe Creek. A large unexplored embayment in the intrusion is mapped 8km to the south of the to-date explored zone at Laverdiere and is in contact with Boundary Range metamorphic rocks at this location. Apophyses of the larger granodiorite intrusion are also mapped in contact with limestone and marbles amenable to massive sulphide skarn mineralization approximately 7km to the southwest of the known zones of high-grade porphyry-skarn mineralization.

SAMPLING, PREPARATION & QA/QC

All 2024 field samples were transported by helicopter at the end of each field day to the core logging facility in Atlin, BC for processing. Field samples were chosen to capture homogenous lithology, alteration, mineralization, and veining. All field samples were submitted to Bureau Veritas (BV) Labs in Whitehorse, YT. Each sample was crushed to 70% passing 2mm, then pulverized to 85% passing 200-micron mesh. All samples then underwent a 4-Acid digestion with an ICP-MS finish for a 59-element ultra trace package (Method Code MA-250), as well as fire assay by Pb collection with ICP-ES finish for Au, Pt, and Pd (Method code FA-330). Samples that hit upper detection limits for elements of interest on the primary multi-element method were then analyzed via a secondary 4-Acid digest with an ICP-OES finish (Method Code MA-370). Extremely high-grade Pb samples were analyzed via a tertiary overlimit method, GC-817.

NATIONAL INSTRUMENT 43-101 DISCLOSURE

Nicholas Rodway, P.Geo, (EGBC Licence# 46541) (Permit to Practice# 100359) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this 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% ownership in the Blue Property, which covers a land area of114,074 hectares (~1,140 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 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 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, but are not limited to, expectations regarding the pending core assays, including speculative inferences about potential copper, molybdenum, gold, silver, zinc, and lead grades based on preliminary visual observations from results of diamond drilling at the Silver Lime Project and the Laverdiere Project, as applicable; the Company's plans to further investigate the geometry and extent of the skarn and carbonate replacement type mineralization continuum at the Silver Lime Project through additional field work and diamond drilling and any planned or proposed program related thereto; and any other general statement regarding the Company's planned or future exploration efforts at the Blue Property. 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 expectations regarding pending core assays based on preliminary visual observations from diamond drilling results at the Silver Lime Project and the Laverdiere Project, as applicable, may be found to be inaccurate; that results may indicate further exploration efforts at the Silver Lime Project and the Laverdiere Project, as applicable, as not warranted; that the Company may be unable to implement its plans to further explore at the Silver Lime Project and the Laverdiere Project, as applicable; that certain exploration methods, including the Company's proposed exploration model for the Blue Property, may be ineffective or inadequate in the circumstances; that 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; that the Company 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. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. 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 the 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 the original press release on ACCESS Newswire

FAQ

What are the latest copper grades reported by Core Assets (CCOOF) at Laverdiere?

Core Assets reported samples returning up to 3.24% Cu with 82g/t Ag, 0.56g/t Au and 0.053% Mo in 2022, and 0.83% Cu, 47g/t Ag, 0.44g/t Au and 0.007% Mo in 2024 at the Valley Zone.

What was the best drill intercept from Core Assets' (CCOOF) 2022 Laverdiere drilling program?

The best drill intercept was from hole LAV22-001, which returned 267.05m of 0.17% Cu from surface, including 48.54m of 0.90% Cu, 6g/t Ag, 0.11g/t Au from 31.46m depth.

How large is the magnetic anomaly identified at Core Assets' (CCOOF) Laverdiere Project?

The magnetic low anomaly identified at the Valley Zone is approximately 1-kilometer-wide and circular ('donut'-shaped) in structure.

What is the total size of Core Assets' (CCOOF) Laverdiere Copper Project?

The Laverdiere Copper Project contains a 5km x 8km area of highly prospective Cretaceous copper porphyry.