Core Assets Drills Longest Massive Sulphide Intercept to Date 11.78m of 10.6% Zinc, 0.36% Copper & 16g/t Silver from Surface

VANCOUVER, BC / ACCESSWIRE / November 19, 2024 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) is pleased to present assay results from the 2024 diamond drilling campaign at the Silver Lime Project (the "Silver Lime Project" or "Silver Lime"), central Blue Property (the "Blue Property"), Atlin Mining District of NW British Columbia.

Click here for a video synopsis of 2024 diamond drilling highlights and work completed to date at the Silver Lime Project featuring Core Assets' Project Geologist Lauren Piccott.

On November 28th @ 10am PST Core Assets' Vice President of Exploration Monica Barrington is offering a live technical session where she will discuss the results of the 2024 diamond drilling program highlighted in this press release. Please send technical questions to info@coreassetscorp.com prior to the session. Link to live technical session is available here: https://us02web.zoom.us/j/82377544148

Eleven (11) diamond drill holes totalling 3,602.35m were completed across a 2.7km mineralized trend at the Silver Lime Project in 2024 (Tables 1-4). Drilling was successful in extending the footprint of Mo-Cu-Ag porphyry and Fe-Zn-Cu massive and semi-massive sulphide skarn mineralization in and around the Sulphide City Target (including the defined Whaleback Skarn, Grizzly and Gally targets).

HIGHLIGHTS

Three (3) drill holes were completed from one (1) pad at the Whaleback Fe-Zn-Cu Skarn Target in 2024 for a combined total of 304.15m (Figures 1 and 2; Table 1). All holes were oriented north-northwest and targeted the high-grade Fe-Zn-Cu massive sulphide skarn mineralization that was channel sampled at surface in 2021:

• SLM24-060 returned 10.5m of 7.8% Zn, 0.25% Cu and 10g/t Ag within 39.9m of 2.5% Zn, 0.13% Cu and 5.1g/t Ag.

• SLM24-061 returned 11.78m of 10.6% Zn, 0.36% Cu and 16g/t Ag from surface.

• Skarn mineralization at Whaleback forms a 250m long trend with high-grade Zn-Cu-Ag-Pb carbonate replacement mineralization exposed at surface at the Gally Target, where shallow drilling in 2023 intersected 8m of 139g/t Ag, 3.5% Pb+Zn and 0.18% Cu from surface, including 1.3m of 845g/t Ag, 31.3% Pb+Zn and 1.10% Cu. (Figure 2a).

Drilling at Sulphide City in 2022 intersected the same mineralized marble horizon that hosts the mineralization at the Whaleback & Gally targets at a drilled depth of 241m in hole SLM22-013 (or 120m true depth). This intercept returned 0.53m of 9.0% Zn within 2.31m of 2.0% Zn and 644ppm Cu and indicates that high-grade Fe-Zn-(Cu) skarn mineralization extends from surface to a minimum true depth of 120m below the Whaleback Skarn (Figure 2b-d).

Core Assets' President & CEO Nick Rodway commented, "Our longest and highest-grade massive sulphide zinc intercepts were obtained during the 2024 drilling season. We've also successfully tapped quartz-sericite-pyrite zones and potassically altered porphyritic intrusions carrying Mo-Cu-Ag signatures at depth at Sulphide City. This impressive system remains open at depth and in multiple directions for exploration and is primed for additional discoveries. We look forward to presenting our surficial assay data in the coming weeks, as well as new structural interpretations for the Silver Lime Project."

Three (3) of the deepest drill holes at the Silver Lime Project were completed at Sulphide City in 2024 for a combined total of 1,959.25m (Figures 1 and 2; Table 1). All holes successfully intersected impressive endo/exoskarn mineralization and the top of the mineralized porphyry system. The transition into the top of the porphyry system at Sulphide City is marked by drastic increases in porphyry-style veining (A, B, D veins), multiphase porphyritic dykes, and intense quartz-sericite-pyrite (QSP) alteration:

• SLM24-057 returned multiple mineralized intercepts including: 8.7m of 0.17% Cu, 1.2% Zn, 0.9% Pb and 10.4g/t Ag from 136m depth including 5.65m of 0.25% Cu, 14g/t Ag, 1.8% Zn and 1.4% Pb.

• SLM24-063 returned multiple upper massive and semi massive sulphide skarn intercepts including 0.26m of 4.4% Cu, 204g/t Ag and 16.7% Zn within 3.87m of 0.53% Cu, 30g/t Ag and 4.0% Zn from 30.85m depth; and

  • A 4.10m zone of mixed contact Ag-Zn-Pb-Cu skarn and Cu-Ag bearing porphyry beginning at 411m returned 0.20% Cu, 33.6g/t Ag and 0.6% Zn which includes 0.96m of 0.54% Cu and 6.9g/t Ag and 0.64m of 189g/t Ag, 3.5% Zn, 0.9% Pb and 456ppm Cu.

• SLM24-064 intersected widespread Mo mineralization from 108.33m depth that graded 0.006% Mo and 140ppm Cu over 318.12m that contain zones of Mo and Cu-Ag porphyry mineralization running up to 0.056% Mo over 2m (from 405.75m depth) and 0.44% Cu with 8.5g/t Ag over 1m (from 324m depth). These porphyritic intrusions carry anomalous Cu with Mo and Ag to end of hole.

Drilling at Sulphide City in 2024 intersected widespread QSP altered zones and potassically altered porphyritic intrusions at depth in holes SLM24-063 and SLM24-064. These intrusions are associated with anomalous porphyry molybdenum-copper-silver mineralization and increasing porphyry fertility at depth (Figures 2b-d).

Porphyritic dykes carrying anomalous and increasing copper and molybdenum grades with depth were intersected at Sulphide City. Oriented drilling and detailed structural mapping data obtained in 2024 suggests that the mineralizing system at Silver Lime is dipping westerly and that the surrounding high-grade Fe-Zn-Cu skarn mineralization shows continuity along strike and to depths >100m (Figures 2b-d).

Oriented drill core and detailed structural mapping data obtained during the 2023 and 2024 seasons indicate that the mineralizing porphyry system at Sulphide City is west dipping and crosscuts steeply dipping, folded stratigraphy. This new data has increased our confidence for targeting deeper porphyry copper mineralization at the Sulphide City Target and will aid in delineating high-grade massive sulphide trends hosted in additional receptive marble horizons across the Project.

Preliminary exploratory drilling at the Pike Valley Target (discovered in 2023) was designed to test the downdip extension and grade potential of quartz-carbonate-Ag-Zn-Pb-Au veins that are exposed at surface. Two (2) shallow drill holes totalling 420.95m were completed from one (1) drill pad and selectively sampled (Table 3; Figure 3). Both holes intersected quartz-carbonate sulphide veining over narrow widths and with low-to-moderate Ag-Pb-Zn-Au grades. Overall, grade appears to increase to the west and with depth:

• SLM24-065 returned 0.25m of 82g/t Ag with 3.4% Zn, 2.3% Pb and 0.04g/t Au from 48.9m depth, and 48g/t Ag, 1.7% Pb, 1.4% Zn, and 0.02g/t Au over 0.3m from 210.5m depth.

• SLM24-066 returned 0.65m of 21g/t Ag with 1.6% Pb and 0.8% Zn from 127.35m depth, and 0.3m of 30g/t Ag, 0.11g/t Au, 1.2% Pb, and 0.4% Zn from 138.75m depth.

High sulphidation veining at Pike Valley is hosted in numerous stratigraphic units, as well as a recently mapped mafic sheet intrusion. It intermittently outcrops for 1.5km along strike between Pike Valley and the Jackie Target where it hosts coarse grained quartz-galena-pyrite veins.

This mafic sheet intrusion was intersected in drill core at Jackie in 2022 and returned 7.9m of 46.7g/t Ag, 0.4% Zn, 0.7% Pb and 0.19% Cu from 190.7m depth including 2m of 126g/t Ag, 0.8% Zn, 2.0% Pb and 0.60% Cu, and 0.62m of 338g/t Ag, 2.1% Zn, 5.8% Pb and 1.55% Cu. It is geochemically distinct from the Sulphide City Porphyry and responsible for at least one generation of massive sulphide Fe-Zn-Cu-Ag-Pb skarn mineralization at Jackie.

Drilling at Pete's North was designed to test the mineralization potential of an ultra-high chargeability anomaly (120mV/V) that extends from surface to >400m depth. In 2024, a series of sheeted sulphide veins and veinlets within zones of intense pyritization and silicification, and altered porphyritic dykes were observed at surface above the chargeability anomaly. Three (3) drill holes totalling 918m were completed from one (1) pad in 2024 (Table 4; Figure 4):

• SLM24-058 returned 0.75m of 55g/t Ag, 2.2% Pb and 1.5% Zn near end of hole from 313.7m depth.

• SLM24-059A returned 0.85m of 4g/t Ag and 0.4g/t Au from 186.5m depth.

Hole SLM24-059 failed in a fault zone at 9m depth and was not sampled. The following hole was steepened (SLM24-059A) to cut through the fault. An increase in Ag-Zn-Pb grade was obtained near the bottom of hole SLM24-058 in a silicified zone carrying thin sulphide veinlets like those targeted from surface, indicating that overall grade may increase to the west and with depth. Multiple porphyry dykes were intersected at Pete's North and are geochemically related to the Sulphide City Porphyry System.