KORE Mining Ltd. (TSX-V: KORE) is pleased to announce fire assay results of all 4 holes of the Phase 1 drilling completed in 2018 on the Gold Creek gold exploration project located 2km NE of the town of Likely in the Cariboo – in the heart of British Columbia’s historic “Gold Rush” district.
“Phase 1 drilling at Gold Creek has confirmed that this project has the potential for size. We aggressively stepped out from last year’s drilling in order to assess whether this project meets Kore’s criteria. We are pleased that every hole so far in the Camp Zone has encountered gold mineralization and is open along strike and at depth. Given that drilling to date encompasses less than 5% of the recently interpreted 8.5km long arsenic in soils trend, the potential for additional discovery is high and we plan to continue forward on our path to unlock further value on the property” said James Hynes, KORE Director and COO.
A total of 4 HQ drill holes for 940 meters were completed within the Camp Zone to test strike length extension of the successful discovery drill program completed in 2017. These holes step out approximately 300m from previous drilling. All 4 of the holes encountered long intercepts of gold mineralization, broad zones of alteration and mineralization within a Triassic Upper Nicola greywacke, interbedded with argillites, mudstones, and conglomerates.
Geology & Interpretation
The higher grade gold intercepts in drill holes within the Camp Zone show similarities to the high-grade zone of the nearby Spanish Mountain Gold Deposit (TSX Venture: SPA). A large portion of the resource and the highest grades at Spanish Mountain occur at the contact between the greywacke and argillites, similar to mineralization at Gold Creek. This zone is contained within the same stratigraphic sequence (altered and silicified greywacke) and at a similar elevation. Compilation of historic arsenic in soils (see compilation map of historic arsenic on soils) highlights an 8.5km long NW-SE trend that is coincident with the NW-SE trending Camp Zone and recent drilling. For these reasons, KORE believes that Gold Creek has the potential to host a major gold deposit.
The recently compiled arsenic in soils geochemical anomaly follows this contact for the full 8.5km length. Arsenic in soils show more coherent anomalies, and appear to be the best pathfinder element for the mineralized greywacke unit, providing numerous additional drill targets for evaluation.
The Camp Zone gold mineralization has been shown to both outcrop at surface and occur at shallow depths within drill holes. Early drilling suggests this deposit has the potential for a bulk mineable open pit resource as well as high-grade underground development. The 2018 drill program followed up on sedimentary hosted near-surface and higher-grade vertical stockwork, veins, and veinlets within the lower-grade halos.
Mineralization consists of quartz-pyrite-carbonate veins and veinlets with variable amounts of arsenopyrite, chalcopyrite, galena, sphalerite, pyrrhotite, and native gold. Where observed, native gold occurs as ≤1 mm fine-grained, free individual crystalline grains along the walls of quartz veins, on the edges of cubic pyrite crystals, with limonitic pyrite, and occasionally with galena. Pyrite is the principal sulfide mineral in the mineralization, occurring within quartz veins, in envelopes of 5-10% pyrite adjacent to quartz veins, and disseminated 1-3% in the host rock. The quartz-sulfide veins strike southeast, dip steeply or vertically, are generally sub-parallel, and occur as individual veins and as zones of stockwork. Veining and mineralization are accompanied by quartz-sericite alteration, carbonate alteration, bleaching, and silicification in the wall rocks surrounding veins and stockwork. Host rocks consist of interbedded greywacke and argillite with minor conglomerate and mudstone beds.
Maps, sections and a table of drill holes completed this year with notes on targets tested are attached to this news release and posted on www.koremining.com.
Gold Creek Project Description and Location
The Gold Creek project is located 2km NE of the town of Likely in the Cariboo – the heart of British Columbia’s historic “Gold Rush” district. The Gold Creek project consists of 34 claims totalling 9,673 ha located approximately 8km to the NW of the Spanish Mountain gold deposit. Access is from Likely by all-weather gravel road. The site has well developed infrastructure and is just 70km NE of Williams Lake, a major regional centre serviced by an airport and railway. The property has several small roads that will provide easy access for drilling the claims.
Kore 2018 Work Program
Compilation of historical drilling, soil sampling, and geophysics were completed by KORE to determine a positive correlation between gold mineralization and either pathfinder elements, geophysical anomalies, or both.
Historic drilling in 2011 and 2017 confirmed large widths of mineralization in silicified greywacke from surface with multiple higher-grade vein intercepts within a lower-grade halo. Intercepts included 1.5m of 13.4g/t gold (GC11-27 10.7m to 12.2m), 9m of 5.5g/t gold (GC17-34 16.0m to 25.0m), including 1.5m of 18.0g/t gold, and 84.65m of 1.0g/t gold (GC17-35 85.85m to 170.50m), including higher grade intercepts. See appendix for historic and current significant intercepts.
The Company has observed gold mineralization to be closely correlated with elevated arsenic and contained within a greywacke unit of high resistivity and low chargeability relative to the adjacent argillite unit.
QA/QC and Qualified Person
Once the drill core was received from the drill site, individual samples were determined, logged for geological attributes, sawn in half, labelled, and bagged for assay submittal. The remaining drill core was then stored at a secure site in Horsefly, BC. The Company inserted quality control samples at regular intervals within the sample stream which included blanks, preparation duplicates, and standard reference materials with all sample shipments intended to monitor laboratory performance. Sample shipment was conducted under a chain of custody procedure. The QAQC program was designed, approved, and overseen by Kristian Whitehead, P.Geo.
Drill core samples were submitted to ALS Minerals’ analytical facility in North Vancouver, British Columbia for preparation and analysis. Sample preparation included drying and weighing the samples, crushing the entire sample, and pulverizing 250 grams. Analysis for gold was by method Au-AA26: 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples were analyzed for 33 additional elements with method ME-ICP61 (four-acid digestion). Overlimit values other than gold were re-analyzed by methods ME-OG62 (four-acid digestion) and Cu-OG62 (ore-grade copper with four-acid digestion).
ALS Minerals is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. Parameters for ALS Minerals’ internal and Kore’s external blind quality control samples were acceptable for the analyses returned.
Technical information with respect to the Projects contained in this news release has been reviewed and approved by David S. Smith, CPG, who is KORE’s designated independent qualified person for the purposes of this news release.
Table: Camp Zone Drill Results at Gold Creek, 2011 and 2017, and 2018 (FA = Fire Assay):
|GC11-27||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC17-33||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC17-34||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC17-35||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC18-36||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC18-37||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC18-38||From (m)||To (m)||Interval (m)||FA Au g/t|
|GC18-39||From (m)||To (m)||Interval (m)||FA Au g/t|
Table: Drill Collar Information of Camp Zone drill holes
|Elev. (m)||Azimuth||Dip||E.O.H. (m)|
KORE Mining is a development stage company that offers exposure to precious metals exploration and development in North America, with a corporate strategy focused on advancing its California development and British Columbia advanced exploration stage projects.
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