Vancouver, B.C. November 3rd, 2021: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) (“Sun Summit” or the “Company”) is pleased to provide a corporate update and inform shareholders on drilling progress at its 100% controlled Buck Property, central British Columbia. Two drill rigs are currently operating on site.
- Strengthens executive team by appointment of Sharyn Alexander to the position of President: Ms. Alexander brings a wealth of experience in mineral exploration including most recently Vice President Technical Services for Sun Summit.
- Systematically testing the lateral and vertical extent of high-grade gold mineralization: Twenty holes have been drilled so far in the Trench Zone targeting vein-hosted high-grade gold mineralization (e.g., 31.6 grams per tonne (g/t) gold over 4.0 metres including 246 g/t gold over 0.5 metres; BK21-020, see news release dated May 11th, 2021).
- Expanding the footprint of near-surface, bulk tonnage-style gold mineralization: Eight holes have been drilled so far in the Horseshoe and Trench zones stepping-out from known zones of near-surface, bulk tonnage-style gold mineralization (e.g., 1.07 g/t gold over 109 metres including 7.17 g/t gold over 5.2 metres; BK21-017, see news release dated May 11th, 2021).
- Assay and geochemical analyses underway: Core samples from 15 holes have been sent to the lab for assay with additional core shipments being sent bi-weekly.
“We are very pleased to appoint Ms. Alexander to co-lead our executive team,” Bob Willis, Sun Summit’s CEO, stated. “Over the past few years, she has been instrumental in her role as Vice-President, Technical Services in facilitating and managing numerous aspects of our corporate and exploration activities. I look forward to working closely with her as our company continues to systematically advance the Buck Property while maintaining the Company’s standards and best practices.”
Sharyn Alexander, Sun Summit’s President, commented, “I am very excited to take on new challenges and lead the company through a very exciting time of growth and discovery. We are aggressively drilling at Buck with two rigs and the program is moving along as planned. I look forward to continuing to closely work with the executive team on the implementation of various strategic initiatives with the goal of delivering additional exploration success.”
The current drill program has three primary objectives (see news release dated October 13th, 2021), 1) investigate the extent and continuity of high-grade gold mineralization characteristic of the Trench Zone, 2) investigate the strike-extent of near surface, bulk-tonnage gold mineralization characteristic of the Horseshoe Zone, and 3) investigate the limits of the mineralized hydrothermal footprint. All three objectives are being systematically addressed with two diamond drill rigs and a team of experienced exploration geologists continuously evaluating and amending the exploration model.
Over 10,000 metres were initially planned to be drilled within a footprint of approximately 600 metres by 300 metres (see news release dated September 28th, 2021). Twenty-eight holes totalling over 8,000 metres have been completed so far. Based on encouraging visual observations from numerous holes, multiple new holes are being planned.
Intervals of pervasive silica and sericite alteration peripheral to quartz-feldspar porphyritic dykes with associated quartz-sulfide veinlets and stockworks have been observed in multiple holes in the Trench Zone. These prospective zones are hosted in fine grained sedimentary and intermediate volcaniclastic rocks. The contact of these bedded rocks with thick sequences of poorly-sorted and chaotic dacitic lapilli tuffs is interpreted to be a partial control on the distribution of gold-bearing, sphalerite-rich sulfide-cemented breccias of the Horseshoe Zone. This interpreted structural contact has been modelled to be northwest trending. Additional drilling is planned to test along this trend between the Trench and Horseshoe zones with the aim of expanding zones of near-surface mineralization while investigating the relationships between the two mineralization styles.
Core samples are being dispatched from the Company’s core logging facility in Houston, B.C. to ALS Global preparation facilities in Kamloops, Langley and North Vancouver, B.C. Samples from the first 14 holes are in the lab, and more are anticipated to arrive in the coming days.
Ms. Alexander is a geologist with over 15 years of experience in mineral exploration and mining. She has worked with a number of companies such as B2Gold, Barrick (Australia), and SRK Consulting. Her diversified skillset includes project management, business development, strategic planning, relationship building, social responsibility, investor relations, and marketing. Ms. Alexander earned her Bachelor of Science (Geology) from McMaster University, her Masters of Science (Geology) from the University of Toronto, and she holds an Advanced Diploma in GIS from BCIT.
The ~33,000 hectare property is located approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
Sun Summit is engaging with First Nations on whose territory the Buck Property is located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations as the project continues.
Health and Safety
The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.
About Sun Summit
Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at its flagship Buck Project located in north-central British Columbia.
The Company is exploring multiple high priority gold and silver targets through methodical, well-funded exploration campaigns with year round drilling access. The Project has high-grade and bulk-tonnage gold and silver potential and is located in a mining-established region that includes many former operating mines and current exploration projects.
Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sunsummitminerals.com
For further information, contact:
Sharyn Alexander, M.Sc.
Forward Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit Minerals Corp. (SMN) disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.