Vancouver, B.C. August 4th, 2021: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to provide an update from its current property-wide exploration program across its 100% optioned Buck Property, central British Columbia.
Highlights
- Over 200 rock samples and over 2,000 soil samples have been collected to date across the 33,000 hectare property.
- Geological mapping and prospecting have outlined numerous areas of previously unrecognized pervasive hydrothermal alteration. These areas are being systematically evaluated.
- The team is completing a comprehensive geological modelling and drill hole targeting initiative based on data from the recently completed 18 drill hole program.
- Planning for a multi-rig drill program at Buck is underway, anticipated to commence later this summer.
- Company is fully funded for drilling by the recent $5 million dollar flow-through financing (see SMN news released dated July 29th, 2021).
Bob Willis, Sun Summit’s CEO, commented:
“We are very pleased with the progress of our property-wide exploration program this year. Our technical team has systematically evaluated many key areas across the prospective belt of rocks that transect the Buck property. This work has outlined numerous areas of significant alteration that warrant follow-up. Exploration is ongoing, and results will be released once assays from rock and soil samples are returned from the lab.
“We are also currently modelling all available drill data. These updated models will be used to strategically plan our upcoming multi-drill rig program. Details are being finalised, it is expected that drilling will be focused on defining the extent of high-grade and bulk tonnage-style gold zones, and also on peripheral areas where the system remains open.
“We look forward to updating all our shareholders with program details once plans are set and targets are prioritised.”
Exploration Program
The focus of the 2021 summer exploration program is on the approximately 24 kilometre long, northwest-trending, fault-bound belt of Late Cretaceous Kasalka Group volcanic and volcaniclastic rocks, host to epithermal-related mineralization at the Trench and Horseshoe targets (see SMN news release dated May 26th, 2021).
Over 200 rock samples have been collected so far across the property, and over 2,000 soils samples have been collected along property-wide transects and on focused tightly-spaced sample grids. Many of the soil grids were designed to follow up numerous zones of strong hydrothermal alteration locally observed in out-crop, sub-crop and float. Many of these zones were exposed due to recent logging and have been thoroughly investigated with more groundwork planned. Key targets previously identified based on a thorough compilation of all available historic exploration data (e.g., IRK target) have been evaluated and follow-up work is planned.
Modelling and Drill Planning
The Company is planning a significant, multi-rig drill program set to commence this September. The program is anticipated to comprise step-out holes from areas of high-grade mineralization as well as additional drilling in areas of open-ended, near-surface breccia-hosted, bulk tonnage-style mineralization.
The Company is currently finishing an updated geological and exploration model based on all new drill data from the recently completed 18 hole drill program (see SMN news releases dated May 11th, 2021, June 10th, 2021, and July 6th, 2021). The early 2021 drill program outlined significant zones of previously unrecognised high-grade gold mineralization in the Trench zone (e.g., 31.6 g/t gold over 4 metres including 246 g/t gold over 0.5 metres; BK21-020). A focus of the comprehensive modelling is on defining orientations and structural controls on these high-grade zones. Lithological and structural controls on near-surface, bulk tonnage-style gold mineralization (e.g., 186 metres of 0.78 g/t gold including 109 metres of 1.07 g/t gold) are also being modelled. These models will be used to plan numerous drill holes to test the extents and continuity of gold mineralization within both styles.
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.
Community Engagement
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.
Buck Property
The recently expanded 33,000-hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.
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.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
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. 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.
