Core Assets Drills 5.64m of 254g/t Ag, 9.9% Pb+Zn, 0.11% Cu and 0.12g/t Au Including 424g/t Ag, 17.4% Pb+Zn, 0.20% Cu, and 0.14g/t Au Over 3.15m at the Blue Property

To view a video presentation based on today's news release by CEO Nick Rodway, Click HERE

Link: https://youtu.be/bCDOrTNa72k

VANCOUVER, BC / ACCESSWIRE / March 29, 2023 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC) (FSE:5RJ) (OTCQB:CCOOF) is pleased to announce assay results from the remaining diamond drill holes completed during the 2022 exploration program at the Silver Lime Porphyry-CRD Project (the "Silver Lime Project" or "Silver Lime") and the Laverdiere Skarn-Porphyry Project (the "Laverdiere Project" or "Laverdiere") at the Blue Property (the " Blue Property") located in the Atlin Mining District of NW British Columbia.

A total of 1,497 metres of diamond drilling were completed at the Grizzly CRD Target in 2022. First-pass diamond drilling at the Grizzly Target intersected significant near surface, high-grade carbonate replacement mineralization (Figures 1-2; Tables 1, 3).

Grizzly CRD Target Highlights

• SLM22-011 intersected 5.64m of 659g/t AgEq (254g/t Ag, 5.1% Pb, 4.8% Zn, 0.11% Cu and 0.12g/t Au) from 57.36m core depth including 3.15m of 1,132g/t AgEq (424g/t Ag, 9.1% Pb, 8.3% Zn, 0.20% Cu, and 0.14g/t Au), and extending the previously rushed carbonate replacement massive sulphide intercept which included 1.16m of 3,056g/t AgEq (1,145g/t Ag, 23.2% Pb, 23.5% Zn, 0.52% Cu, and 0.37g/t Ag) from 58.54m depth.
• SLM22-010 intersected 2m of 218g/t AgEq (99g/t Ag, 0.4% Pb, 1.8% Zn, and 0.5% Cu) from 276m depth, including 0.90m of 287g/t AgEq (141g/t Ag, 0.5% Pb, 2.5% Zn, and 0.14% Cu).
• SLM22-009 intersected 2.23m of 124g/t AgEq (63g/t Ag, 0.6% Pb, and 0.9% Zn) from 143m depth, including 0.73m of 375g/t AgEq (192g/t Ag, 1.9% Pb, and 2.6% Zn).
• All drill intercepts remain open in multiple directions and at depth (down-dip).

Core Assets' President & CEO Nick Rodway commented: "The first ever drill season at the Silver Lime and Laverdiere projects have yielded remarkable results - confirming the presence of large, well-mineralized porphyry-skarn and CRD systems. Data collected in 2022 will allow us to execute a targeted, fully funded-CRD focused drilling program which will begin in the next few months. As we begin to demonstrate continuity in our new discoveries, we plan to step out into thicker limestone sequences to the northwest of Silver Lime and test the additional >250 CRD occurrences that have been mapped at surface. We are confident that the 2023 exploration season will be transformational for the company and its shareholders."

^{Assay results are presented as uncut weighted averages and assume 100% metal recovery. Interval widths represent drilled HQ core lengths and true width is unknown currently. * indicates partial drill hole assay results were previously released. Silver equivalent (AgEq) grades are calculated using metal prices of silver US$21.25/oz., gold US$1,850/oz, copper US$4.00/lb, lead US$1.00/lb and zinc US$1.40/lb. Silver equivalent grade is calculated as AgEq (g/t) = Ag (g/t) + (Cu (%) * 129.08) + (Pb (%) * 32.27) + (Zn (%) * 45.18) + (Au (g/t) * 87.06).}

Figure 1: Schematic cross-section looking north through the Grizzly CRD Target at the Silver Lime Project showing 2022 drilling assay highlights intercepts (AgEq) in relation to the inferred depth extent of mineralization targeted during the 2022 drilling program.

A total of 2,769 metres of diamond drilling were completed at the Sulphide City Porphyry-Skarn Target in 2022. First-pass diamond drilling intersected widespread and consistent porphyry Molybdenum (Mo) mineralization, local high grade porphyry Mo veining, and massive sulphide Zn-rich skarn mineralization.

Sulphide City Porphyry-Skarn Target Highlights

• SLM22-005 intersected 4.51m of 172g/t AgEq (50g/t Ag, 2.5% Zn, 0.3% Pb, and 0.1% Cu) from 32.70m depth, including 0.56m of 709g/t AgEq (148g/t Ag, 12.1% Zn, 0.4%, and 0.2% Cu).
• SLM22-006 returned 99.82m of 0.016% Mo from 322m depth, including 10.82m of 0.043% Mo and 0.63m of 0.385% Mo.
• SLM22-007 intersected 1.26m of 389g/t AgEq and 3.06% CuEq (91g/t Ag, 1.5% Zn, 1.5% Pb, and 1.4% Cu) from 56.91m depth, and 1.17m of 11.3% Zn, 9g/t Ag, and 0.1% Cu from 96.15m depth.
• SLM22-008 intersected 1m of 4.23% Zn, 7g/t Ag, and 0.2% Cu from 219.6m depth.
• SLM22-013 returned 0.53m of 9% Zn from 242.78m depth.
• SLM22-014 intersected 14.53m of 0.029% Mo from 266m depth, within 101.38m grading 0.013% Mo and including 2m of 0.137% Mo from 277m depth.
• SLM22-015 returned 147.45m of 0.012% Mo from 190.05m depth, within 350m grading 0.008% Mo and including 2m of 0.075% Mo from 216m depth.

Figure 2: Schematic plan view map of the Grizzly and Sulphide City targets at the Silver Lime Project showing 2022 drilling locations, Ag (g/t) in surface samples, downhole Mo % (Sulphide City) and Ag g/t (Grizzly - Red Star) assay highlights. *indicates steeply dipping drillhole.