Linderos

The Linderos target is a new discovery identified by Core Gold during its 2017 exploration efforts and has not undergone any previous trenching or historical drill testing. The Company’s four contiguous Linderos Project concessions total 14,317 hectares and are located approximately 45 kilometers southwest of Core Gold’s Dynasty Goldfield project in the southwest edge of the Dynasty District.

Dynasty-Goldfield-Project-location-map.jpg

Initial work at Linderos indicate a brecciated shear zone which has showings of very high grade surface gold mineralization. On November 30th, 2017 the company announced significant high‐grade gold results from trenching activities at Linderos.

HIGHLIGHTS OF INITIAL TRENCHING RESULTS

The first twenty-nine trenches at the Linderos epithermal gold prospect within the Dynasty District yielded encouraging initial results including:

  • 21.00m at 18.51 g/t Au
  • 19.95m at 14.31 g/t Au
  • 18.20m at 14.74 g/t Au
  • 2.00 m at 326.8 g/t Au

Rock geochemistry and geological detail mapping indicate that the mineralized zone extends for 1,000 meters to the southeast adjacent to the area of trenching. Further trenching is ongoing with additional results due in early 2018.

The Company has applied for bulk sampling and drilling permits and is aiming to drill and bulk sample Linderos in Q1 2018.

The twenty-nine trenches were sampled over an area of 100 x 150m located within a larger 120m x 1,000m long brecciated shear zone defined by pervasive rock gold geochemical anomalies that have been confirmed by this initial trenching sampling program.

The results below are from the first 29 trenches of a planned 60 trench program.

Trench Number

Interval (m)

Gold Grade g/t Au

Silver Grade g/t Ag

Comments

Linderos 1

4.00

1.61

16.14


Linderos 2

1.80

1.70

15.38


Linderos 3

4.00

0.69

3.87


Linderos 4

8.00

3.93

9.83

open

Linderos 5

4.00

0.92

4.01


Linderos 6

6.00

2.26

5.97

open

Linderos 7

6.00

0.74

4.38


Linderos 8

7.00

1.26

3.12


Linderos 9

20.90

2.64

5.83


Linderos 10

8.60

15.27

20.23


Linderos 11

26.00

3.42

4.72


Linderos 12

18.00

10.10

13.45

open

Linderos 13

21.00

18.51

12.70

open

Linderos 14

18.20

14.74

19.12


Linderos 15

4.00

36.65

36.05

open

Linderos 16

19.95

14.31

12.79


Linderos 17

17.00

13.70

21.12

open

Linderos 18

15.40

5.08

5.73


Linderos 19

3.00

10.78

8.20


Linderos 20

14.80

5.37

5.92


Linderos 21

2.00

2.09

1.31


Linderos 22

12.00

5.55

9.38


Linderos 23

10.00

6.80

6.49


Linderos 24

4.80

17.77

11.11


Linderos 25

2.00

326.80

141.63


Linderos 26

1.20

106.62

22.05


Linderos 27

2.00

15.81

353.44


Linderos 28

3.60

14.45

19.86


Linderos 29

2.00

6.30

2.87


DISCUSSION OF TRENCHING RESULTS

Significant surface trench gold results and mineralized structures suggest that mineralization continues at depth.

The shear zone related gold bearing mineralized structures/veins correspond to epithermal type mineralization and are connected laterally and at depth to the porphyry body, suggesting the existence of a porphyry system that will be explored in detail in 2018.

The Company is currently planning a drill program along the known structure aiming to target high-grade Au mineralization in order to further complete the geological model.

Qualified Person

Mr. John E. Bolanos, who is a qualified person under NI 43-101 guidelines, has reviewed and approved the technical content of this section and will continue consulting the Company for future material. Mr. Bolanos is a M.Sc. Mining Geologist from Camborne School of Mines (U.K.) and a Professional Geologist Eng. from The Central University of Ecuador (honours degree). He is a registered member (ID 4172671) of the Society for Mining, Metallurgy & Exploration (SME) of the United States; Director of the Ecuadorian College of Engineers in Geology, Mines, Oil and Environment; and a member of the Mining Chamber of Ecuador. He has 27 years of experience in the exploration and mining industry throughout the Americas.

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