Remobilises VTEM Survey At Blue Property
Core Assets Corp. (CSE:CC) has entered into an agreement to acquire 100% interest in the Blue Extension Property in the Atlin Mining District of northwestern British Columbia, Canada.
The company Core Assets has increased its land position by 100 sq. km, for a total contiguous district scale land package of 261 sq. km.
The deal has also increased its VTEM survey area, with the company also revealing it has re-mobilised Geotech Ltd to complete the geophysical survey at the Blue Property.
The Geotech VTEM survey has been increased to cover ~2000 line km, representing a ~1000 line km increase and is set to remobilise in mid June.
The VTEM Survey resolution is also being increased by decreasing line spacing from 200m to 150m line spacing to better define massive sulphide carbonate replacement chimneys visible at surface.
The survey will target the magnetic and electromagnetic susceptibility of a porphyry/carbonate replacement type (CRD) system and the structures associated with the Llewelyn Fault Zone (LFZ). This regional feature feeds the high-grade polymetallic skarns and mantos chimneys seen at surface at the Laverdiere and the Silver Lime Prospects that are ~10 km apart.
A ground geological team is set to commence a gridded CRD pod sampling programme following the VTEM survey, which will lead up to Core Assets’ fully permitted maiden exploratory drilling campaign, to take place in Fall 2021.
President and CEO, Nick Rodway, said the style of alteration and highly anomalous copper (>8.0 % Cu) and silver (85.0 oz/t Ag) content at the Property suggest proximity to a porphyry centre and potential for district scale high grade polymetallic CRD type mineralisation.
“The first attempt at the VTEM survey was unsuccessful due to weather, but it has given our technical team more time to learn more about CRD type deposits,” Mr Rodway said.
“As a result of this, we have decided to increase our land holdings and tighten the resolution of the VTEM survey to better understand the system before drill testing our thesis.”
The LFZ is approximately 140km in length, and it runs from Yukon border down through the 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 1970’s.
The LFZ plays an important role in mineralisation of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry,
Mr Rodway said the company has leveraged this information at the Blue Property to develop an exploration model and believes this could facilitate a major discovery.
“Core Assets is excited to become one of the Atlin Mining District’s premier explorers where it’s team believes there are substantial opportunities for new discoveries and development.”
