Core Assets Corp: Drill results confirm major new discoveries of CRD, porphyry and skarn at the Blue Property in British Columbia
Today, Core Assets Corp. announced assay results from the remaining holes completed during the maiden 2022 drilling program at the Silver Lime Porphyry-CRD Project and the Laverdiere Skarn-Porphyry Project at the Blue Property located in the Atlin Mining District of NW British Columbia, Canada.
At and near surface, CRDs are typically thin pipe-like bodies of high-grade mineralization, running continuously all the way to the source, thereby thickening substantially at depth and the closer you get to the feeding intrusion. As such, this first round of drilling was a highly successful “scout/pathfinder“ program, with the goal of confirming grades below surface and to get a first picture of how the plumbing and feeder systems run, in order for follow-up drilling to target thicker packages of mineralization delineated based on geologic information gathered from the first round of drilling.
What strikes the eye are the impressive grades of molybdenum increasing at depth at the Sulphide City Porphyry-Skarn Target, and the fact that copper begins to pick up hosted in chalcopyrite with phyillic alteration present. This indicates a large copper-moly porphyry with high-grade skarn mineralization near surface and possibly at depth. Molybdenum prices have appreciated 6-fold over the last 7 years, doubling from $37 to $74 USD per kilogram in the last 7 months.
Rio Tinto‘s Bingham Canyon Porphyry Deposit in Utah, in production since 120 years, hosts 2021-reserves totalling 541 million t with an average grade of 0.44% copper, 0.17 g/t gold, 2.22 g/t silver, and 0.029% molybdenum. Compare these first-class grades with the initial drill results from Sulphide City and you may come to the conclusion that Core Assets has confirmed today to have tapped into something special. This might be just the beginning of an incremental success story, especially when considering that Core Assets still has all of its widespread CRD system untouched, whereas Bingham‘s near-surface CRDs were mined long before Rio Tinto started mining the near-by porphyry in 1903.
