New Prospect At The Imperial Gold Project

VANCOUVER - KORE Mining Ltd. reported the continued expansion of the Imperial Gold Project through the recent discovery of a fourth outcropping prospect named Galaxy.  In total, the Company now has ten highly prospective drill targets identified in the overall Mesquite-Imperial-Picacho District (that captures 28 kilometers (km) of prospective ground. With Galaxy, KORE now has an inventory of four prospect areas totaling 802 acres and containing 8 kilometers of total strike.  

CEO Scott Trebilcock, said, "The large target areas, historic mine workings and outcropping rock types give us confidence in making new discoveries in the structurally connected Mesquite-Imperial-Picacho District.  Out field team continues to work our huge land package which now needs to be prioritized for our next drill permit application."

In 2021, KORE commissioned a property-wide multispectral WorldView-3 alteration mapping survey which provided imagery that, in addition to boots-on-the-ground field work, has greatly accelerated the rate of new discoveries by highlighting prospective areas.  The massive 31,000 acre District claim area has taken hundreds of person-days to follow-up anomalies with mapping and sampling.  From the hard work of our exploration team, the Company is starting to define some of the District potential.  Additionally, having the intact Imperial deposit and the exposed Mesquite deposits to "tune" or "fingerprint" exploration targeting methods greatly enhances the  Company's confidence to target new discoveries along the 28 km District trend.

The newly identified Galaxy prospect is KORE's newest find was discovered March 2022 during reconnaissance mapping efforts. Galaxy consists of five structurally dismembered gneiss outcrops totaling 108 acres. This target is characterized by alteration styles analogous to the Imperial deposit thus is highly prospective for gold . Historic mining activity is prevalent at Galaxy, including shafts up to 100 feet deep, declines, and trenches that target mineralized south-dipping thrust faults. This structural setting is consistent with highest grade portion of the Imperial deposit. 30 rock samples have been collected to date with assay results expected June 2022.

Galaxy is intersected by the Gatuna-Sortan fault, which yielded outcrop assays as high as 0.6 g/t in the Acacia target area. This fault juxtaposes the relatively impermeable Winterhaven formation above the Jurassic gneiss, which likely acted as a lithocap to ascending gold-bearing hydrothermal fluids. Observed alteration styles include fracture hosted to pervasive iron oxides, silica, sericite, chlorite, kaolinite, and quartz+carbonate veining. Sampling is ongoing and is expected to be completed May 2022.