Announcement Date: 2022-12-06
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Paycore Minerals Inc.
Project name: FAD
Location: United States
Commodities: Gold,Silver,Lead,Zinc
Highlight: Drilling results incl. 27.4m at 10.00% Zn, 1.00% Pb, 79.00g/t Ag, 8.00g/t Au, from 707.8m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: December 6, 2022 – Toronto, Ontario – Paycore Minerals Inc. (TSX-V:CORE) (“Paycore” or the “Company”) is pleased to announce exploration drilling results from the Company’s 100%-owned FAD Property located on the Battle Mountain-Eureka Gold Belt in Nevada, USA. Drill Highlights: • FAD Main Zone drilling in hole PC22-10 include: o 27.4 meters of 10% zinc, 1% lead, 79 g/t silver and 8.0 g/t gold from 707.8 – 735.2 meter depth. o Including 13 meters of 16% zinc, 1% lead, 110 g/t silver and 11.1 g/t gold, from 713.2 to 726.2 meter depth. o AND 7.4 meters of 4.6% zinc, 6.1% lead, 318 g/t silver and 1.8 g/t gold, from 745.6 to 753 meter depth in hole PC22-10. “Hole-10 is a 200 meter step-out and drilled down-dip from the historic resource which contains 3,540,000 tonnes grading 8.0 % zinc, 3.80% lead, 196.46 g/t silver, and 5.14 g/t gold. Drilling to-date in the Southeast Lobe has demonstrated the lateral mineralization outside of the historic resource that was defined by Hecla Mining Company in their 1966 and 1974 feasibility studies” stated Christina McCarthy, President, and CEO. “Additionally, we are in the process of planning exploration drilling within the new discovery corridor related to the untested Jackson Fault which is associated with i-80 Gold’s recent Hilltop CRD discovery (Figure 2 below). Paycore has approximately 3 kilometers of the fault to test.” Ms. McCarthy added. James Gowans, Chairman of the Board, states “The FAD deposit is proving to be among one of the highestgrade carbonate replacement deposits (CRD’s) on the globe. Most CRD’s consist of silver-lead-zinc mineralization however, we believe there is a secondary mineralized event which is associated with the gold mineralization introduced into the CRD system at FAD. These additional gold values could potentially be an additional credit in a recovery processing scenario which could add significant economic value to the deposit.” Mr. Gowans is the former President of Arizona Mining which owned the Taylor Deposit, also a carbonate replacement deposit.
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