Summary

Size: 100% controlled tenure package totals approximately 33,000 hectares
Metals: Gold, Silver, Zinc
Mineralization: Surface footprint of target area is that of a large, altered volcanic breccia system with widespread gold, silver, and zinc mineralization, which is hosted in highly altered and fractured volcanic breccias as disseminations, veins/veinlets, and mineralized fractures.
Stage: Exploration
Ownership: Option agreement to acquire 100% interest in Buck Project
Location: Located central British Columbia, south of the city of Houston. Formed within the Nechako-Chilcotin plateau – a region that represents strong, widespread, subduction-related metallogeny. Mining friendly jurisdiction.
Infrastructure: Exploration can be conducted year-round with access to electrical and gas utilities, major airports, highways and excellent road access.
Drill Holes Several phases of drilling have been conducted by Sun Summit since 2020;

  • Spring 2020 drilled 5 diamond drill holes for ~1,800 m
  • Fall 2020 drilled 10 diamond drill holes for ~4,200 m
  • Spring 2021 drilled 18 diamond drill holes for ~7,100 m
  • Fall 2021 drilled 32 diamond drill holes for ~10,300 m
  • Spring 2022 drilled 9 diamond drill holes for ~4,000 m
  • The property also has undergone historic drilling
Mines close by: The property is located in close proximity to several former operating mines: Equity Silver Mine (Goldcorp) and Huckleberry Mine (Imperial Metals). Also geologically similar Blackwater Gold Project (Artemis Gold) is located ~170 km to the southeast.

Buck Property

Strategic Location

Land Position

Regional Setting

Regional Geology

Buck Main – Geology and Mineralization

Buck Main – Drilling

Cross Section

Size & Scale Potential

Geochemical Anomalies

CC Zone Discovery

Mineralization Styles

Sun Summit sold its property and royalty interests covering approximately 92,488 hectares in Mexico to Green Earth Metals Inc., an arm’s length private British Columbia company founded by geoscientist Richard Osmond, for 5,000,000 Green Earth common shares and warrants to purchase a further 2,000,000 Green Earth common shares for five years.

Highlights

  • Green Earth common shares: Sun Summit will receive 5,000,000 common shares of Green Earth representing approximately 32.4% of Green Earth’s post-purchase outstanding common shares.
  • Green Earth warrants: Sun Summit will also receive warrants to purchase a further 2,000,000 common shares of Green Earth. The warrants will be exercisable for five years at a price per share equal to the offering price of Green Earth’s shares in its initial public offering.
  • Eight wholly-owned properties and three NSR royalties being sold: Sun Summit has agreed to sell eight wholly-owned properties covering approximately 83,548 hectares, title to which has either been granted or is pending (including one property covering 74,088 hectares being reviewed for possible archeological sites within the concession area), and three 1% net smelter returns royalties on properties covering 8,940 hectares, title to which has either been granted or is pending.

Read more from news release (February 15th, 2022)