Vancouver, B.C. November 30th, 2021: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to provide an update from its exploration drill program at its 100% controlled Buck Property, north-central British Columbia.
- Over 10,000 metres in 32 drill holes completed: Sun Summit has so far completed 10,300 metres of drilling focused on targeting high-grade and bulk tonnage-style gold mineralization covering an area of over 500 by 500 metres.
- Refinement of geological model: Grid-based drilling has led to a reinterpretation of the geological model and demonstrates a near-continuous zone of mineralization between the historic Trench and Horseshoe zones.
- New areas of mineralization discovered: Systematic step-out holes in previously untested areas have identified broad zones of breccia-hosted sulfide mineralization.
- Assay analyses well underway: Samples from the first 23 holes are at the lab with additional shipments arriving in the coming days. Initial results from the drill program are arriving and the Company looks forward to releasing the first set of assays very shortly.
Sharyn Alexander, Sun Summit’s President, stated, “We are very encouraged by what we’re seeing at the Buck property so far. All drill holes have intersected mineralized zones similar to those reported to host gold in earlier campaigns.
“Our technical team has done a great job in unlocking the potential of this large-scale hydrothermal system, which is characterized by what appears to be multiple mineralizing events. By using a systematic approach in drill planning, such as oriented core and consistent azimuths, we are able to gain new knowledge about the controls on gold mineralization at the Buck Main area.
“We are very pleased to have completed these drill holes well ahead of schedule and on budget. We are now waiting for assay results from samples currently backlogged at the lab. In the meantime, we are compiling and interpreting all new geological and structural data to further refine the geological model. The assay data are a very critical component for the design of the ongoing drill program. We anticipate steady news flow in the coming weeks with drilling set to recommence once enough assay data is in hand to support definition of our continuing drill campaign.
“We are excited to share assay results from this recent program once they are received and analyzed.”
Sun Summit has now completed 32 diamond drill holes totalling 10,300 metres within a footprint of approximately 500 metres by 500 metres (Figure 1). Drilling has three primary objectives:
1) investigate the extent and continuity of high-grade gold mineralization,
2) investigate the strike-extent of near surface, bulk-tonnage gold mineralization, and
3) attempt to define the limits of the mineralized hydrothermal footprint (see news release dated October 13th, 2021).
Drilling between the historic Trench and Horseshoe zones (Figure 1) has led to the refinement of the structural and lithological model at the Buck Main area. An important northwest-trending structural contact between sedimentary and volcaniclastic rocks, host to the historic Trench Zone, with dacitic lapilli tuffs and breccias, host to the historic Horseshoe Zone, has been identified (see news release dated October 13th, 2021). Mineralization has been defined along the contact and suggests there is no clear distinction between the two historic zones and that epithermal-related mineralization continues laterally along the contact.
Based on this updated model, two holes were designed to test the prospective contact to the northwest in an area previously undrilled (Figure 1). The first hole (BK21-060) intersected a broad zone of near-surface, sphalerite-rich, sulfide-cemented breccias (Figure 2), texturally similar to previously reported intersections (e.g., 45 metres of 1.64 g/t Au including 5.2 metres of 7.17 g/t Au; BK21-017 located 170 metres to the southeast; see news release dated May 11th, 2021). Results from this hole will be used to target additional extensions of mineralization further to the northwest and at depth.
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 Vancouver, B.C. Initial results from the drill program are arriving and the Company looks forward to releasing the first set of assays very shortly.
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
Link to Figures
Figure 1: https://sunsummitminerals.com/wp-content/uploads/2021/11/Fig1_Buck_Drilling_Nov.jpg
Figure 2: https://sunsummitminerals.com/wp-content/uploads/2021/11/Fig2-Hydrothermal-Breccia-crop-scaled.jpg
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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 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.