KORE Mining Ltd. (TSX-V:KORE) is pleased to announce the completion of Phase 1 drilling on the FG Gold-Copper exploration project in British Columbia, and a new discovery at the Nova Zone of a potentially 3.5km x 1km gold-copper porphyritic intrusion. The Company is awaiting assay results on the Phase I drill program, expected shortly.
“These early drill holes demonstrate that our compilation of historical data from this property coupled with a new interpretation, have led to what could potentially be a massive mineralized system. We believe that the EM anomalies, interpreted from a 2008 VTEM survey and now intersected with drilling, are semi-massive and massive sulphide veins containing gold, copper and silver that dip toward the core of the intrusion,” stated James Hynes, COO.
Geology & Interpretation of the Nova Zone
The FG Gold-Copper Project has yielded highly prospective targets within a porphyritic intrusion called the Nova Zone, discovered through compilation of historic soil geochemistry, and airborne geophysical studies. KORE staked an additional 2,608 hectares of prospective ground along an 11km trend of intrusives, now fully captured by the 100% KORE owned, FG Gold-Copper Project.
The Nova Zone is characterized by multiple intrusive phases of an ascending monzonite to quartz porphyry. Historical mapping and geophysics suggest this intrusive complex to be up to 3.5km by 1km, within the broader 11km long intrusive trend. An intensely oxidized and weathered gossan (oxidized iron sulphides) covers the entirety of the mapped intrusion. See attached geological and geophysical maps prepared and interpreted by KORE, showing the mapped intrusive, geophysical anomalies and location of current drilling.
Interpretation by KORE of a historical 2008 VTEM airborne geophysical survey covering the entire FG Gold-Copper Property shows a series of strong electromagnetic (EM) anomalies coincident with the margins of the porphyritic intrusion. Discovery drilling by KORE suggests these EM anomalies reflect the semi-massive and massive sulphide veins and were the target of this first phase of drilling. It is believed these semi-massive and massive sulphides form a halo around the core of the porphyritic intrusion and are indicative of the potential existence of a large potentially bulk-tonnage mineralized gold-copper-silver porphyry system. All 3 holes encountered silicified and potassically altered porphyritic quartz diorite cut by a series of highly altered and silicified mafic and felsic dykes, containing massive and semi-massive veining and stockwork replacement of pyrrhotite (iron sulphide) and chalcopyrite (copper sulphide).
Compilation of historical mapping, soil and rock geochemistry and geophysics has been critical to the success of this first phase of drilling. Both gold in soils and gold in rock samples that have been taken over the last 50 years and compiled by KORE, show a broad low-grade gold dispersion down-slope from the mapped intrusion as well as higher-grade soils and rocks within the glacially carved cirques bordering the intrusion. High-grade rock samples up to 7.8 g/t Au have been collected along higher ridges above the intrusion, suggesting the possibility of high-grade epithermal gold system on the margins of the copper-gold porphyry. Similarly copper values compiled by Kore from historic work show a broad dispersion down-slope from the mapped intrusion as well as a large number of rocks within the mapped intrusion of up to 3.03% copper.
Nova Zone Map showing location of Phase 1 drilling, geophysical anomalies, and mapped geology, historic gold and copper in soils and anomalous rocks.
FG Gold-Copper Project Description and Location
KORE’s 100% owned FG Gold-Copper property is an advanced-stage gold project and early stage gold-copper project located in the Cariboo Mining Division of British Columbia, Canada. See Area Map on https://www.koremining.com/fg-gold/
The FG Gold-Copper property has an established Measured and Indicated resource containing 376,000 ounces of gold at an average grade of 0.776 g/t (using a 0.5 g/t cut-off), and an Inferred resource containing 634,900 ounces of gold at an average grade of 0.718 g/t (using a 0.5 g/t cut-off). Additional mineralization has been outlined over a 3 km strike length with five key zones of mineralization (NE Zone, Main Zone, SW Limb, Grouse Creek, Frasergold Creek) identified along a 10km strike length of the sedimentary horizon.
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 James Hynes, P.Eng.
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-AA23: 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and upper limit of 10 ppm. Samples were analyzed for 48 additional elements with method ME-MSP61 (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. Drilling was completed by J.T. Thomas Diamond Drilling, Smithers, BC.
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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