Vancouver, B.C. July 14th, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce the completion of a high-resolution VTEM (Versatile Time Domain Electromagnetic) geophysical survey across the Buck Property, central British Columbia.
- Property-wide geophysical survey complete: Over 1,800 line kilometres of high-resolution geophysical data was acquired from across the 33,000 hectare property.
- High-resolution data to assist with target generation: Preliminary VTEM results are being interpreted together with compiled geological and geochemical data to define areas considered prospective for Buck-style epithermal-related gold-silver-zinc mineralization as well as porphyry-related copper mineralization.
- Reinterpretation of historic datasets: Reassessment of existing geophysical and geochemical data will aid in generating a prospectivity assessment to enhance targeting.
- Property-wide surface exploration to follow: Field crews will be mobilised following geophysical data interpretation to conduct focused geological and structural mapping and soil geochemical surveys across priority target areas.
- Drill planning in progress: Targets within and peripheral to the Buck Main system are currently being prioritised and drill hole planning is ongoing.
- Strong financial position: The Company is well capitalized with over $5.0 million in the treasury.
Sharyn Alexander, Sun Summit’s President, stated: “The primary goal of the VTEM geophysical survey was to obtain important new data from across the large property to identify and prioritise zones of high prospectivity outside of the Buck Main zone. This new data, together with compiled and reinterpreted historic and recently acquired exploration data, will provide our technical team with a robust dataset to build on this summer with the primary goal of discovery. We are excited to use this information to potentially expand existing targets and identify new targets across our property, and look forward to starting our field programs shortly.”
The company engaged Geotech Ltd. to carry out the helicopter-borne VTEM geophysical survey across the Buck property (see news release from June 14th, 2022). The over 1,800 line kilometre survey was conducted on east-west oriented lines spaced 200 metres apart. Preliminary maps of the data have been supplied by Geotech and final processed data and reporting is expected in the coming weeks.
The focus is to investigate the electromagnetic signature of the Buck Main epithermal-related system and to look for comparable signatures across the entire property. These potential anomalies, together with other signatures interpreted to be related to additional mineralization styles, including porphyry-related, will be ranked and prioritised. Follow-up geological and geochemical surveys will commence shortly after all data has been fully interrogated and target areas are prioritized.
Data Compilation and Interpretation
A recent focus has been the compilation and reassessment of all historic and recently acquired geophysical and geochemical data from across the property. This updated compilation and rigorous data analysis (e.g., prospectivity assessment) was considered critical to systematically assess the relevance of 1980’s and 1990’s vintage data compared to more recent exploration data. Data from over 9,000 soil, 1,900 rock, and 100 silt geochemical samples and multiple IP (induced polarization), airborne and ground magnetic surveys are now being used with improved levels of confidence and weighting to help interpret the high-resolution VTEM data and develop new target areas.
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit’s Senior Advisor, 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.
About Sun Summit
Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship 100% controlled Buck Project located in north-central British Columbia near the town of Houston in central B.C.
The Company is exploring multiple high priority targets through systematic exploration campaigns with excellent developed infrastructure and year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining 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.
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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.