CCOOF - 3D Magnetic Model Reveals Extensive Mineralization | Benzinga
Source: Streetwise Reports 06/10/2024
Core Assets Corp. (OTC: CCOOF) has announced the results and interpretation of a three-dimensional magnetic vector inversion (3D-MVI) model collected over the 2024 drilling area at the Silver Lime CRD (carbonate replacement deposit) porphyry project on the central Blue property in the Atlin mining district of northwestern British Columbia.
The company's 3D magnetic model indicates that the Sulphide City Mo-Cu (molybdenum-copper) Porphyry Stock extends deeper and connects to a larger magnetic body measuring approximately 3.7 kilometers wide, which feeds at least three additional porphyry stocks beneath the Pete's CRD and AMP targets, and south of the Gally CRD target.
In 2022, drill hole SLM22-006 at Sulphide City reached a depth of 471 meters, revealing significant porphyry-style alteration, veining, and increased molybdenum Mo and Cu grades at around 315 meters depth, with grades near the end of the hole (EOH) returning up to 2.50% CuEq (copper equivalent). Core Assets is fully funded for up to 5,000 meters of diamond drilling as well as project-wide mapping and rock sampling campaigns. The company will start by drill-testing the Sulphide City Mo-Cu Porphyry Stock and the potential source intrusion, with drilling set to begin this week.
Core Assets' President and CEO Nick Rodway commented on the findings, saying, "Overlaps observed between our favorable magnetics, highly chargeable and conductive zones, Cu and Mo grade downhole, and the current drilled extent of the Sulphide City Mo-Cu Porphyry all point towards the continuation of the mineralized Sulphide City Porphyry to depths exceeding 1 kilometer. These overlapping datasets indicate the presence of a large, long-lived, and multi-stage, mineralized porphyry system feeding the high-grade Silver Lime skarn and CRM targets. This interpretation comes with an enhanced understanding of our 3D project geology and structures that acted as fluid pathways for the high-grade massive sulphide and epithermal mineralization observed outboard of the Sulphide City Target."
The Mineral Mining Market
The mineral exploration sector has been experiencing significant growth and transformation in recent years. According to S&P Global Market Intelligence, the global nonferrous exploration budget increased by 16% in 2022, reaching US$13.0 billion, up from US$11.2 billion in 2021. This increase was primarily driven by the junior exploration sector, which benefited from favorable market conditions and increased financing activities. Notably, gold remained a major focus, with green metals like copper, nickel, and lithium also seeing substantial budget increases due to their critical role in the energy transition? (S&P Global)?.
"The logical conclusion is that Core Assets is a ...