Completion of Regional Mapping Program Leads to New Targets in the Mesquite-Imperial-Picacho District
Vancouver, BC March 8, 2022 - KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (“KORE” or the “Company”) is pleased to announce the completion of data analysis for the 100+ person-day regional mapping campaign at the Imperial Gold project (“Imperial”), leading to the discovery of three new exploration drill targets (Figure 1). This brings a total of nine highly prospective drill targets identified in the Mesquite-Imperial-Picacho District (“District”); a District that captures 28 kilometers (“km”) of strike from Equinox Gold’s (TSX: EQX) operating Mesquite gold mine (“Mesquite”) to the historic Picacho gold mine (“Picacho”). Various additional stream sediment and rock chip assays and analyses are pending. The mapping program focused on establishing vectoring strategies through the Bear Canyon conglomerate, a late alluvial unit which covers most of the property.
New Discovery Highlights:
- Discovers three new target areas: Smoketree, Ironwood, and Wolverines
- Expanded Acacia target to over 1.5 km of mineralized strike with new outcrop areas
- Highlights from surface sampling include 1.0 g/t and 0.6 g/t gold
- Expanded the existing Powerline target to over 2 km mineralized length
- Collected 123 soil and rock samples while mapping previously undiscovered mineralized outcrop between the Imperial deposit and the Mesquite mine – assays pending
- Commissioned follow-up man-portable drill program for Q2 2022
Mapping Program Highlights:
- Established new vectoring strategy for detecting gold mineralization in areas with little or no surface outcrop exposure
- Gold mineralization detected in numerous distinct Tertiary Bear Canyon conglomerates
- Incorporated 130,000+ acres of lithologic mapping and data into regional geologic model
- Integrated regional structural model encompassing an area over 2,300,000 acres
- Established regional hand sample library to standardize regional mapping and allow high confidence identification of rock units
KORE’s CEO Scott Trebilcock commented, “With nine high potential oxide gold drill targets identified to date, KORE continues to successfully develop the knowledge and exploration strategies to target and make new discoveries at the Mesquite-Imperial-Picacho district exploration project. The amount of outcrop and anomalous gold at surface continues to exceed expectations.”