KORE hits gold in all holes, confirms 400m+
strike length of gold mineralization
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.
Highlights
- Hole GC18-39 intercepted 1.5 metres of 32.2 g/t gold, within an
overall intercept of 9.0 metres of 5.8 g/t gold.
- Hole GC18-38 intercepted 10.3 metres of 0.9 g/t gold and 11.4
metres of 1.0 g/t gold.
- Confirms positive correlation in drill holes between elevated
arsenic (>100 ppm) and anomalous gold and potential for a large
resource within an 8.5km long arsenic-in-soils anomaly.
- 2018 Drilling results combined with 2017 results including
GC17-35 which intercepted 84.65 metres of 1.0g/t gold including
higher-grade intercepts, confirms large widths of mineralization
and the potential for a large resource.
- Recent drilling combined with historical trenching extends the
Camp Zone to 400m+ along strike and is open ended along both strike
and at depth.
"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.
Image Gallery:
https://www.koremining.com/pr120318-1
Appendix:
Table: Camp Zone Drill Results at Gold Creek, 2011 and 2017,
and 2018 (FA = Fire Assay)[1]:
|
|
|
|
|
GC11-27
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
3.1
|
44.2
|
41.2
|
0.9
|
including
|
3.1
|
32.0
|
29.0
|
1.1
|
including
|
10.7
|
12.2
|
1.5
|
13.4
|
|
|
|
|
|
GC17-33
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
13.00
|
28.00
|
15.00
|
0.7
|
including
|
21.20
|
25.00
|
3.80
|
1.7
|
and
|
42.30
|
85.00
|
42.7
|
0.7
|
|
|
|
|
|
GC17-34
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
10.00
|
28.30
|
18.30
|
2.9
|
including
|
16.00
|
25.00
|
9.00
|
5.5
|
including
|
17.50
|
19.00
|
1.50
|
18.0
|
|
|
|
|
|
GC17-35
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
85.85
|
170.50
|
84.65
|
1.0
|
including
|
88.70
|
149.50
|
60.80
|
1.3
|
including
|
136.25
|
149.50
|
13.25
|
4.7
|
including
|
136.25
|
145.00
|
8.75
|
6.5
|
including
|
136.25
|
137.50
|
1.25
|
33.2
|
including
|
143.50
|
145.0
|
1.50
|
8.1
|
|
|
|
|
|
GC18-36
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
27.94
|
53.65
|
25.71
|
1.3
|
including
|
27.94
|
31.00
|
3.06
|
8.6
|
and
|
98.64
|
148.85
|
50.21
|
0.7
|
including
|
98.64
|
109.70
|
11.06
|
2.0
|
including
|
142.70
|
148.85
|
6.15
|
0.8
|
|
|
|
|
|
GC18-37
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
124.00
|
127.23
|
3.23
|
0.7
|
and
|
137.95
|
147.09
|
9.14
|
0.4
|
and
|
157.00
|
171.62
|
14.62
|
0.4
|
|
|
|
|
|
GC18-38
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
171.02
|
181.31
|
10.29
|
0.9
|
and
|
195.06
|
206.50
|
11.44
|
1.0
|
|
|
|
|
|
GC18-39
|
From
(m)
|
To
(m)
|
Interval
(m)
|
FA Au
g/t
|
|
171.00
|
180.00
|
9.00
|
5.8
|
including
|
174.00
|
175.00
|
1.50
|
32.2
|
Table: Drill Collar Information of Camp Zone drill
holes
|
|
|
|
|
|
|
Hole
#
|
Northing
WGS84
|
Easting
WGS84
|
Elev.
(m)
|
Azimuth
|
Dip
|
E.O.H.
(m)
|
GC11-27
|
599278
|
5831143
|
903
|
225.0
|
-55.0
|
45.7
|
GC17-33
|
599282
|
5831149
|
903
|
229.4
|
-54.5
|
94.0
|
GC17-34
|
599254
|
5831103
|
903
|
224.5
|
-55.4
|
64.0
|
GC17-35
GC17-36
|
599388
|
5831166
|
923
|
238.3
|
-52.7
|
173.0
|
599405
|
5831103
|
892
|
225.2
|
-47.0
|
263.0
|
GC18-37
|
599465
|
5831031
|
899
|
225.8
|
-43.5
|
223.0
|
GC18-38
|
599465
|
5831031
|
899
|
228.1
|
-67.0
|
247.0
|
GC18-39
|
599536
|
5830955
|
920
|
231.7
|
-50.7
|
207.0
|
About KORE
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.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any KORE common shares in
the United States. The KORE common
shares to be issued in connection with the Transaction have not
been and will not be registered under the
United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may
not be offered or sold within the United
States or to U.S. persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy of accuracy of
this release.
Cautionary Statement Regarding Adjacent Properties and
Forward-Looking Information
All information contained in this news release with respect
to KORE and Kore was supplied by the parties, respectively, for
inclusion herein, and KORE and its directors and officers have
relied on KORE for any information concerning such party, including
information concerning the Projects.
This news release contains forward-looking statements
relating to the future operations of the Company and other
statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
the future plans and objectives of the Company are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Such factors include, but are not
limited to: uncertainties related exploration and
development; the ability to raise sufficient capital to fund
exploration and development; changes in economic conditions or
financial markets; increases in input costs; litigation,
legislative, environmental and other judicial, regulatory,
political and competitive developments; technological or
operational difficulties or inability to obtain permits encountered
in connection with exploration activities; and labor relations
matters. This list is not exhaustive of the factors that may affect
the Company's forward-looking information. Important factors
that could cause actual results to differ materially from the
Company's expectations also include risks detailed from time to
time in the filings made by the Company with securities
regulations.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company. The reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will update or
revise publicly any of the included forward-looking statements as
expressly required by Canadian securities law.
___________________________________
1
|
Width reported are
drill widths. True thicknesses are unknown.
|
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SOURCE Kore Mining