Silver Lime Project
Silver Lime CRD – Porphyry Project
The Silver Lime CRD-Porphyry Project is located at the centre of the Blue Property. Currently, the Project consists of 7 highly prospective targets that span the complete mineralization spectrum from Porphyry Mo-Cu to Fe-Zn-Cu-Ag massive sulphide skarn and Ag-Pb-Zn-Cu±Au carbonate replacement mineralization, to distal, sediment-hosted Ag-Au bearing quartz veining and Ag-Au-bearing base metal sulphide vein occurrences. Massive sulphide carbonate replacement mineralization at Silver Lime is predominantly hosted in the structurally complex carbonate strata of the Florence Range Metamorphic Suite (ca. 1150Ma). Carbonate units range up to 250 meters thick and are exposed at surface over a mapped strike length that currently measures over 8.5 kilometers. These host rocks are folded and intercalated with schist, quartzite, and amphibole-bearing gneiss.
Carbonate host rocks at Silver Lime mainly reside in direct contact with an iron-rich biotite-schist layer which may have provided the necessary redox conditions required to form high-grade and world-class CRD’s. Textural indicators suggest that the mineralization event responsible for widespread skarn and carbonate replacement massive sulphide mineralization was long-lived. Multiple phases of felsic and intermediate porphyritic intrusions have been located throughout the project area, providing the possibility for multiple sources of ore-bearing fluids and mineralization events.
To-date, 700 surface samples (rocks, channels, historic) have been collected across the Project area. The explored extent of the Silver Lime CRD-Porphyry Project currently measures 10 kilometers by 9.5 kilometers and boasts an average surficial grade of 83g/t Ag, 0.22% Cu, 1.8% Pb, 3.4% Zn, and 0.16g/t Au. However, high-grade massive sulphide skarn and carbonate replacement mineralization hosted in carbonate rocks of the Florence Range have been observed outcropping intermittently along trend at the Blue Property for more than 24 kilometers. This trend extends northwest from the Jackie CRD Target at the Silver Lime Project to the Kim Skarn Project in the north-central Blue Property.
In 2022, 5,565 meters of exploratory diamond drilling was completed at the Silver Lime CRD-Porphyry Project. High-grade carbonate replacement massive sulphide mineralization was proven to extend down dip, and multiple phases of mineralized Mo-Cu-bearing porphyry were also discovered through 2022 drilling.
Grizzly CRD Target
The Grizzly CRD Target represents a significant zone of high-grade Ag-Zn-Pb-Cu-Au carbonate replacement manto, chimney, and dyke-contact skarn mineralization. Carbonate replacement massive sulphide mineralization at Grizzly is exposed at surface across open and semi-continuous strike lengths of up to 1 kilometer and at widths of over 5 meters. In 2022, an impressive intersection of Ag-Zn-Pb-Cu-Au carbonate replacement encountered in hole SLM22-011 returned 5.64 meters of 254g/t Ag, 5.1% Pb, 4.8% Zn, 0.11% Cu and 0.12g/t Au from 57.36 meters depth, including 1.16m of 1,145g/t Ag, 23.2% Pb, 23.5% Zn, 0.52% Cu, and 0.37g/t Au.
Drilling in 2022 intersected a series of a porphyritic and bifurcated northeast-to-southwest trending dykes that are accompanied by Fe-Cu rich skarn mineralization in the form of pyrrhotite-magnetite-sphalerite-pyrite and proximal high-grade Ag-Pb-Zn-rich carbonate replacement mineralization. Mineralized dykes are locally altered to sericite and contain disseminated and vein-hosted pyrrhotite and traces of chalcopyrite. Sulphide mineralization hosted in metasediments intercepted in hole SLM22-010 graded 99g/t Ag, 0.4% Pb, 1.8% Zn and 0.18% Cu over 2 meters. A total of 1,497 meters of diamond drilling were completed at the Grizzly CRD Target in 2022.
| 2022 Assay Highlights from the Grizzly CRD Target | ||||||||
|---|---|---|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t |
| SLM22-011 | 57.36 | 63.00 | 5.64 | 254 | 5.1 | 4.8 | 0.11 | 0.12 |
| Including | 57.36 | 60.51 | 3.15 | 424 | 9.1 | 8.3 | 0.20 | 0.14 |
| and | 58.54 | 59.70 | 1.16 | 1145 | 23.2 | 23.5 | 0.52 | 0.37 |
| SLM22-010 | 134.04 | 135.22 | 1.18 | 50 | 0.7 | 0.9 | 0.05 | - |
| SLM22-010 | 276.00 | 278.00 | 2.00 | 99 | 0.4 | 1.8 | 0.18 | - |
| Including | 277.10 | 278.00 | 0.90 | 141 | 0.5 | 2.5 | 0.14 | - |
| SLM22-009 | 124.16 | 125.75 | 1.59 | 33 | 1.2 | 0.6 | - | - |
| Including | 124.66 | 125.75 | 1.09 | 50 | 1.9 | 0.9 | - | - |
| SLM22-009 | 143.00 | 145.23 | 2.23 | 63 | 0.6 | 0.9 | - | - |
| Including | 144.50 | 145.23 | 0.73 | 192 | 1.9 | 2.6 | - | - |
Sulphide City Porphyry-Skarn Target
The Sulphide City Porphyry-Skarn Target is a newly identified Mo-Cu porphyry and associated high-grade Zn-rich skarn Target. The primary intrusion is a sericite-altered, porphyritic intermediate intrusive containing high-grade porphyry Mo veining and localized coarse-grained and disseminated chalcopyrite.
In 2022, diamond drilling intersected widespread porphyry Mo mineralization and veining, extending the Sulphide City Porphyry to depths of 450 meters. Drillhole SLM22-006 was steeply drilled into the porphyry in 2022 and intersected 193 metres of 0.012% Mo from 277 meters depth, including 3.5 meters of 0.1% Mo and 0.63m of 0.39% Mo. Other porphyry-focused drillholes including SLM22-014 returned 101.38 meters of 0.013% Mo, whereas SLM22-015 returned 147.45m of 0.012% Mo.
High-grade, massive-to-semi massive Zn (+Cu-Ag-Pb±Mo) skarn mineralization is concentrated along the boundaries of the Sulphide City Porphyry, where in direct contact with carbonate rocks. Zn-rich skarn mineralization consists of fine to coarse-grained sphalerite with locally generous amounts of pyrrhotite-pyrite-chalcopyrite and to a lesser extent Ag-bearing galena and/or Ag-telluride. In 2022, a 14.51-meter intercept in hole SLM22-007 containing exoskarn mineralization graded 1.8% Zn. A total of 2,769 meters of diamond drilling were completed at the Sulphide City Porphyry-Skarn Target in 2022.
| 2022 Assay Highlights from the Sulphide City Porphyry-Skarn Target | ||||||||
|---|---|---|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-005 | 32.70 | 37.21 | 4.51 | 50 | - | 0.3 | 2.5 | 0.002 |
| Including | 35.52 | 37.21 | 1.69 | 111 | - | 0.5 | 5.0 | - |
| and | 36.65 | 37.21 | 0.56 | 148 | 0.17 | 0.4 | 12.1 | - |
| SLM22-005 | 59.00 | 62.00 | 3.00 | 4 | - | - | 4.0 | 0.002 |
| Including | 60.04 | 60.60 | 0.56 | 7 | - | - | 12.1 | 0.003 |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-006 | 74.02 | 86.36 | 12.34 | 4 | 0.11 | - | 0.7 | 0.006 |
| Including | 74.02 | 76.00 | 1.98 | 11 | 0.33 | - | 3.7 | 0.004 |
| and | 75.00 | 76.00 | 1.00 | 19 | 0.57 | - | 5.9 | 0.003 |
| SLM22-006 | 277.00 | 470.00 | 193.00 | 2 | - | - | - | 0.012 |
| Including | 322.00 | 421.82 | 99.82 | 0 | - | - | - | 0.016 |
| 411.00 | 421.82 | 10.82 | 2 | - | - | 0.1 | 0.043 | |
| 417.00 | 420.50 | 3.50 | 1 | - | - | - | 0.100 | |
| 418.82 | 419.45 | 0.63 | 0 | - | - | - | 0.385 | |
| 447.75 | 470.00 | 22.25 | 12 | 0.10 | 0.1 | 0.2 | 0.007 | |
| 447.75 | 456.39 | 8.64 | 23 | 0.15 | 0.2 | 0.5 | 0.001 | |
| 453.09 | 456.39 | 3.30 | 47 | 0.25 | 0.3 | 1.0 | 0.002 | |
| 453.09 | 455.00 | 1.91 | 61 | 0.25 | 0.6 | 1.5 | - | |
| and | 453.09 | 453.76 | 0.67 | 117 | 0.37 | 1.3 | 2.6 | - |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-007 | 33.24 | 34.45 | 1.21 | 6 | - | - | 6.8 | - |
| SLM22-007 | 44.14 | 58.17 | 14.03 | 11 | 0.16 | 0.1 | 1.1 | 0.005 |
| Including | 50.89 | 58.17 | 7.28 | 16 | 0.23 | 0.2 | 1.5 | 0.007 |
| 50.89 | 55.00 | 4.11 | 6 | - | - | 1.7 | 0.010 | |
| and | 56.91 | 58.17 | 1.26 | 91 | 1.39 | 1.5 | 1.5 | 0.007 |
| SLM22-007 | 96.12 | 110.63 | 14.51 | 3 | - | - | 1.8 | 0.002 |
| Including | 96.12 | 97.29 | 1.17 | 9 | 0.13 | - | 11.3 | - |
| and | 96.12 | 98.25 | 2.13 | 6 | 0.10 | - | 6.5 | - |
| SLM22-007 | 297.00 | 299.05 | 2.05 | 10 | 0.16 | - | 1.3 | 0.008 |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-008 | 151.93 | 153.00 | 1.07 | 11 | 0.24 | - | 4.5 | 0.007 |
| SLM22-008 | 219.60 | 220.60 | 1.00 | 7 | 0.18 | - | 4.2 | 0.001 |
| SLM22-008 | 280.32 | 281.45 | 1.13 | 9 | 0.18 | 0.10 | 11.9 | - |
| SLM22-008 | 306.67 | 309.00 | 2.33 | 3 | - | - | 5.3 | - |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-013 | 76.50 | 77.50 | 1.00 | 10 | 0.20 | - | - | 0.014 |
| SLM22-013 | 171.13 | 171.86 | 0.73 | 40 | 1.77 | 0.1 | 0.1 | 0.002 |
| SLM22-013 | 234.62 | 235.80 | 1.18 | 12 | 0.16 | 0.1 | 1.1 | 0.002 |
| SLM22-013 | 242.78 | 243.31 | 0.53 | 2 | - | - | 9.0 | - |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-014 | 188.00 | 289.38 | 101.38 | 0.3 | - | - | - | 0.013 |
| Including | 268.00 | 280.53 | 12.53 | 1 | - | - | - | 0.029 |
| 273.39 | 287.00 | 13.61 | 0.8 | - | - | - | 0.026 | |
| and | 277.00 | 279.00 | 2.00 | 0.5 | - | - | - | 0.137 |
| SLM22-014 | 401.00 | 406.05 | 5.05 | 0.3 | - | - | - | 0.031 |
| Including | 405.00 | 406.05 | 1.05 | 0.3 | - | - | - | 0.102 |
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Cu % | Pb % | Zn % | Mo % |
| SLM22-015 | 51.50 | 57.00 | 5.50 | 5 | 0.09 | 0.1 | 0.2 | - |
| Including | 53.00 | 55.00 | 2.00 | 13 | 0.19 | 0.2 | 0.4 | - |
| SLM22-015 | 121.00 | 471.00 | 350.00 | 0.2 | - | - | - | 0.008 |
| Including | 190.05 | 337.50 | 147.45 | 0.1 | - | - | - | 0.012 |
| 216.00 | 218.00 | 2.00 | 0.2 | - | - | - | 0.075 | |
| 259.72 | 279.00 | 19.28 | 0.1 | - | - | - | 0.020 | |
| and | 261.00 | 268.00 | 7.00 | 0.1 | - | - | - | 0.027 |
Gally CRD Target
The Gally CRD Target was identified by prospecting in 2022 and is located 485 meters west of the high-grade Grizzly CRD Target. It consists of two Ag-Zn-Pb-Cu-rich, massive-to-semi-massive carbonate replacement zones associated with a northeast-trending intermediate dyke. Zone 1 can be traced intermittently for 93 meters at surface, grading up to 446g/t Ag, 1.25% Cu, and 23.3% Zn+Pb. Zone 2 extends for 50 meters along strike and boasts the third highest grade surface sample collected by the Company to-date, grading up to 1,115g/t Ag, 1.09% Cu, and 24.4% Zn+Pb.
Jackie CRD Target
The Jackie CRD Target was identified from multiple surface exposures of high-grade massive sulphide occurrences. These Ag-Pb-Zn-Cu-rich deposits are up to 30 meters long and 6 meters wide and are hosted within a thick, steeply dipping, northwest-southeast-trending massive limestone and schist succession. Massive sulphide bodies are associated with the intersections of a series of northeast-southwest trending faults and sub-parallel, fine-grained intermediate mineralized dykes. It is inferred that these high-grade sulphide “spokes” connect to larger massive sulphide feeder zones at depth. A causative intrusion sourcing the mineralized dykes at the Jackie Target has yet to be identified.
The Jackie target boosts the two highest Ag-bearing surface samples collected by the Company to date, including: 2020 g/t Ag, >20% Pb, 2.9% Zn, 0.16% Cu, and 0.16g/t Au in carbonate replacement massive sulphide, as well as a 2021 CRD channel sample that assayed 1530 g/t Ag, >20% Pb, 14.6% Zn, and 0.23% Cu.
Drilling in 2022 confirmed the extension of multiple carbonate replacement massive sulphide spokes to depths of up to 197 meters. Hole SLM22-001 intersected 21.65 meters of 23g/t Ag, 1.0% Zn, 1.2% Pb, and 0.08% Cu from the surface, whereas SLM22-004 intersected 0.62 meters of 338g/t Ag, 5.8% Pb, 2.1 Zn, and 1.55% Cu from 196.38m depth. SLM22-004 also intersected zones of elevated Au and returned 2.00 meters of 5.42g/t Au from 335.00 meters depth. A total of 1,299 meters of diamond drilling was completed at Jackie in 2022.
| Drilling Assay Highlights from the Jackie CRD Target | ||||||||
|---|---|---|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Interval (m) | Ag g/t | Pb % | Zn % | Cu % | Au g/t |
| SLM22-001 | 0 | 21.65 | 21.65 | 23.3 | 1.2 | 1 | 0.08 | - |
| including | 15.71 | 16.96 | 1.25 | 215 | 8.9 | 9.9 | 0.36 | - |
| SLM22-002 | 1.1 | 6.47 | 5.37 | 51.1 | 1.1 | 4 | 0.19 | - |
| including | 5 | 6.47 | 1.47 | 140 | 3.3 | 6.3 | 0.1 | - |
| SLM22-003 | 154.78 | 155.71 | 0.93 | 62 | 1.9 | 1.6 | 0.06 | - |
| SLM22-004 | 190.7 | 198.6 | 7.9 | 46.7 | 0.7 | 0.4 | 0.19 | - |
| including | 195 | 197 | 2 | 126 | 2 | 0.8 | 0.6 | - |
| AND | 196.38 | 197 | 0.62 | 338 | 5.8 | 2.1 | 1.55 | - |
| SLM22-004 | 335 | 343 | 8 | 6.5 | - | - | - | 0.69 |
| including | 335 | 337 | 2 | 5.6 | - | - | - | 5.42 |
Pete’s CRD Target
Pete’s CRD Target is a newly discovered high-grade carbonate replacement zone located 1.25 kilometers northwest of the Grizzly CRD Target. Pete’s was identified by Core Assets in 2021 and extended in 2022 during follow-up prospecting on an outcrop sample collected from a 1 x 4-meter massive sulphide bleeder that assayed 234g/t Ag, 17.8% Pb, 19.6% Zn, and 0.32% Cu. Sampling in 2022 along an 8-meter channel sample interval returned an average grade of 250g/t Ag, 7.5% Zn, 12.1% Pb, and 0.22% Cu.
Multiple occurrences of high-grade massive sulphide mineralization at Pete’s are hosted in a thick and steeply dipping, interbedded succession of carbonates and iron-schist that reside along an off-set trend with the Grizzly and AMP targets. Mineralization occurs within carbonate rocks along favourable lithological contacts with iron-rich schist, as well as at intersections of north-south trending faults and limestone units. A series of approximately north-trending dykes cut obliquely through the stratigraphy, proximal to the massive sulphide occurrences. A north-striking fault offsets the carbonate sequence and defines the eastern edge of the Target.
Amp Target
The Amp Target was identified through prospecting work carried out in 2021. This Target is characterized by numerous sulphide-bearing vein generations and stringers containing varying amounts of galena, sphalerite, arsenopyrite, and pyrite. Semi-massive-to-massive sulphide Ag-Zn-Pb-Cu-Au carbonate replacement mineralization is also locally observed at Amp and is associated with the intersection of carbonate stratigraphy and a series of north-trending dykes. Low sulphidation epithermal-type vein textures, as well as high-grade and narrow, sulphide-rich carbonate replacement bleeder veins dominate at the distal Amp Target. A brecciated limestone float sample collected in 2021 containing semi-massive sulphide graded 931g/t Ag, 0.4% Pb, 0.14% Zn, and 6.75g/t Au. In 2022, follow-up prospecting sampled sulphide-bearing veins that graded up to 474g/t Ag, 13.7% Pb, 7.6 % Zn, and 0.37g/t Au.
Falcon Ag-Au Target
The Falcon Target is located 950 meters north-northeast of the Jackie CRD Target. The historic Falcon Zone was originally explored by Carmac Resources Ltd. in 1990. This work identified two exposed, northwest trending gold and silver-bearing quartz veins that measure up to 1.2 meters wide. These veins are hosted in limestone, metasediments, and quartz-feldspar porphyry breccia dykes, and contain visual semi-massive arsenopyrite-stibnite-pyrite and galena. Historically a 2.2-meter chip sample collected from the Falcon Zone averaged 3.67g/t Au, 2,641g/t Ag, 0.15% Cu, 2.50% Pb, 3.32% Zn along with 5.78% As and 2.56% Sb.
In 2022, prospecting and sampling work located and extended the footprint of vein-hosted Ag-Au mineralization at the Falcon Target by 170 meters. Quartz veins sampled at Falcon in 2022 graded up to 19.5g/t Au, 33g/t Ag, 0.33% Pb, and 0.30% Sb.
