Vancouver, B.C. May 3rd, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to report initial drill results from its winter 2022 exploration drill program and the discovery of new zones of bulk-tonnage style gold-silver-zinc mineralization on its Buck Property, central B.C.
Highlights
- Discovered new zone of strong gold-silver-zinc mineralization: Westernmost step-out holes intersected numerous zones of strong mineralization in a previously untested area.
- BK22-070:
- 1.09 g/t gold equivalent (AuEq) over 73.5 metres including 2.20 g/t AuEq over 10.3 metres and 1.50 g/t AuEq over 17.0 metres within 0.84 g/t AuEq over 117.7 metres.
- BK22-071:
- 1.31 g/t AuEq over 18.0 metres within 0.75 g/t AuEq over 47.7 metres.
- 1.40 g/t AuEq over 12.0 metres including 2.63 g/t AuEq over 6.0 metres.
- 1.44 g/t AuEq over 13.0 metres including 11.37 g/t AuEq 0.8 metres.
- 1.65 g/t AuEq over 7.6 metres including 9.57 g/t AuEq over 1.1 metres.
- BK22-072:
- 1.12 g/t AuEq over 23.0 metres including 12.03 g/t AuEq over 1.5 metres.
- 6.53 g/t AuEq over 1.5 metres.
- 1.36 g/t AuEq over 12.8 metres and 0.97 g/t AuEq 51.4 metres within 0.68 g/t AuEq over 145.0 metres.
- 1.66 g/t AuEq over 10.9 metres within 0.81 g/t over 36.8 metres.
- Opens exploration potential significantly to the west, south and at depth of Buck Main:
- Cumulative grade thickness through all zones of mineralization in new holes compares favourably with other holes drilled some 500 metres to the east.
- A systematic follow-up drill program is currently being planned to fully evaluate the scale and potential of this new discovery.
- The results of the remaining six holes are pending.
Notes:
- Intervals are downhole core lengths. True widths are unknown.
- Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.
- AuEq assumes metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation: AuEq(g/t) = ((Au(g/t)*$Au/oz*0.032151)+(Ag(g/t)*$Ag/oz*0.032151)+(Zn%*$Zn/lbs*22.0462))/($Au/oz*0.032151).
- Assay results for individual metals for each AuEq calculation are reported in Table 1.
Sharyn Alexander, Sun Summit’s President, stated: “These western step-out holes at Buck have significantly expanded our exploration footprint and provided us with a compelling priority target for systematic follow-up drilling. The style, polymetallic nature and grade of the new discovery zone are very similar to what is found in the Horseshoe zone 500 metres to the east. These holes strongly confirm our belief that we are just beginning to scratch the surface of the Buck Main system, where the limits of mineralization are still unconstrained.”
“We await the results from six more holes currently in the lab. Once all results have been reported, we will compile the data, generate an updated geological model and design a systematic follow-up drill program testing these new zones of mineralization as well as previously discovered targets.”
Figure 1. Map showing drill collar locations with selected highlights
Drill Program
Holes BK22-070, -071 and -072 were designed to investigate the extent and continuity of bulk-tonnage style gold-silver-zinc mineralization previously intersected in holes BK21-059 and -065 (Figure 1; see news release February 22, 2022). The new holes confirm strong grade-continuity of near-surface bulk-tonnage style mineralization hosted in dacitic volcaniclastic rocks and quartz-feldspar-porphyry dykes and demonstrate the significant depth potential of the system to the south and west.
Figure 2. Cross section 4350 showing selected highlights
BK22-070, drilled towards the southwest (Figure 2), intersected strongly altered and mineralized andesite below the mineralized dacitic volcaniclastic package highlighted by a composite interval of 0.84 g/t AuEq over 117.7 metres including 1.09 g/t AuEq over 73.5 metres and 2.20 g/t AuEq over 10.3 metres (Table 1). Hole BK22-071, collared from the same pad but drilled with a steeper dip, intersected numerous zones of strong gold-silver-zinc mineralization (e.g., 1.31 g/t AuEq over 18.0 metres within 0.75 g/t AuEq over 47.7 metres, and 1.40 g/t AuEq over 12.0 metres including 2.63 g/t AuEq over 6.0 metres – intervals are downhole core lengths, true widths are unknown). Similar to hole BK22-070, mineralization here continued below the dacites. BK22-072 was collared 60 metres to the west of BK22-070 and -71 and was drilled to the southwest. The hole intersected numerous zones of >1.0 g/t AuEq mineralization down to 500 metres (Table 1) followed by strong sulfide-rich mineralization to the bottom of the hole. This lower zone of mineralization is hosted in dacitic volcaniclastic rocks with strong zinc anomalism (e.g., 187 metres of 0.53% Zn).
The tenure of mineralization intersected in holes BK22-070, -071 and -072 compares favourably to other holes on the property collared 500 metres to the east (see news release July 6, 2021). The cumulative grade thickness through all zones of mineralization in BK22-070 was 202 g/t AuEq*m, BK22-071 was 166 g/t AuEq*m, and BK22-072 was 230 g/t AuEq*m. These results support the considerable potential of the western side of Buck for the development of bulk-tonnage targets. Furthermore, local zones of high-grade gold-silver-zinc mineralization (e.g., 11.37 g/t AuEq over 0.8 metres in BK22-071, and 12.03 g/t AuEq over 1.5 metres in BK22-072 – intervals are downhole core lengths, true widths are unknown) are similar to high-grade vein-hosted mineralization previously intersected near the centre of Buck Main and suggest strong high-grade potential to the west.
Quality Assurance and Quality Control
All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program. Drill core was sawn in half at Sun Summit’s core logging and processing facility in Houston, B.C. Half of the core was sampled and shipped in sealed and secure bags to the ALS Global preparation facilities in Kamloops, Langley or North Vancouver, B.C. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.
Core samples were analyzed for 48 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23). Samples with >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30 gram sample. Samples with >100 ppm silver were re-analyzed using a four acid digestion and ICP-AES finish. Samples with >10,000 ppm zinc were re-analysed using a four acid digestion and ICP-AES finish.
In addition to ALS Global laboratory QA / QC protocols, Sun Summit implements an internal QA / QC program that includes the insertion of duplicates, standards and blanks into the sample stream.
AuEq incorporates metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation: AuEq (AgZn) (g/t) = ((Au(g/t)*$Au/oz*0.032151) + (Ag(g/t)*$Ag/oz*0.032151) + (Zn%*$Zn/lbs*22.0462)) / ($Au/oz*0.032151)
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.
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.
Link to Figures
Figure 1:
Figure 2:
For further information, contact:
Sharyn Alexander
President
info@sunsummitminerals.com
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 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.
