Kim Skarn Project

The Kim Fe-Cu-Ag-Zn Skarn Project is located in the north-central Blue Property, 24 kilometers north-northwest of the Silver Lime CRD-Porphyry Project. The historic showing was first identified in 1965 by Falconbridge Nickel Mines Ltd. near the confluence of the Kim and Fault creeks and covered an area of 37 meters squared. High-grade Cu-skarn mineralization at the Kim Project is hosted in carbonate rocks of the Florence Range Metamorphic Suite that reside in contact with an exposed Cu-bearing felsic intrusion. In 2022, additional massive sulphide skarn showings were identified and currently form an intermittent 2-kilometer trend that extends southeast from the Historic Kim Showing.  Metal signatures along this trend gradually zone outward from the high-grade Fe-Cu-Ag skarn to Zn-Cu-Ag skarn and finally into Ag-Cu-Pb-Zn replacement style mineralization.

Rock samples collected by Core Assets in 2022 from the historic skarn showing typically contained minerals indicative of supergene enrichment including azurite, chalcocite, and chrysocolla and returned assay values of up to 8.3% Cu, 240g/t Ag, 0.16% Mo, 0.39g/t Au, and 0.21% Zn. Samples collected 425 meters to the southeast of this showing yielded higher Zn grades of up to 11.8% with 4.7% Cu, and 137g/t Ag (+ Mo, W), whereas rock samples collected 2-kilometers to the southeast returned an average grade of 1.35% Cu, 85g/t Ag, and 2.4% Zn+Pb.

Follow-up channel sampling was carried out in 2022 over a 17-meter-long, discontinuous trend of massive Cu-skarn mineralization at the Historic Showing. Channel samples returned 15 meters of 1.43% Cu, 92g/t Ag, and 0.04g/t Au, including 7 meters of 2.41% Cu, 106g/t Ag, and 0.06g/t Au, and 1m of 5.78% Cu, 193g/t Ag, and 0.04g/t Au.