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KORE Mining Ltd.
Summary
| Project: | Gold Creek | |
|---|---|---|
| Deposit: | Gold Creek | |
| Location: | Canada | |
| Commodities: | Gold-Copper | |
| Date: | 12/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2018: KORE Mining Ltd. announces an Exploration/Drilling Update report for its Gold Creek deposit at the Gold Creek project. Drilling results incl. 84.65 @ 1.0g/t Au from 85.85m. VANCOUVER, Dec. 4, 2018 /CNW/ - KORE Mining Ltd. (TSX VENTURE: KORE - " | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Smith (Independent) | |
| ABSTRACT: | VANCOUVER, Dec. 4, 2018 /CNW/ - KORE Mining Ltd. (TSX VENTURE: KORE - "KORE" or the "Company") 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. | |
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