Vancouver, B.C. August 11th, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce the commencement of a property-wide exploration program over several highly prospective target areas within its 100% optioned, 33,000 hectare Buck Project, central British Columbia.
Highlights
- Prospectivity assessment has outlined several target areas: Results from the Company’s recently completed property-wide heli-borne Versatile Time Domain Electromagnetic (VTEM) survey, together with compiled and reinterpreted historic and recently acquired exploration data, have outlined several areas considered prospective for Buck-style epithermal-related gold-silver-zinc mineralization as well as potential porphyry-related copper mineralization.
- Property-wide exploration program underway: Crews have mobilized to site and have started collecting soil samples along strategically placed grids across key target areas; IRK and Eagle Eye. These soil samples, along with rock samples from focused geological mapping and prospecting, will aid in defining new drill targets outside of the Buck Main system.
- Drill planning in progress: The Buck Main system remains open in multiple directions and drill targets within and peripheral to the mineralizing system are currently being finalized. Results of the field exploration program will also help delineate high-priority drill targets elsewhere on the property.
“We are very excited to start the next phase of exploration at our Buck Project”, stated Sharyn Alexander, Sun Summit’s President. “The results of our high-resolution VTEM geophysical survey, as well as the assessment and reinterpretation of existing geological, geophysical, and geochemical data, have provided new insight into the unique potential in this region. In addition to expanding our Buck Main discovery, our large property has the potential to host additional Buck-style prospects and other deposit types. Our technical team has selected several high-priority areas for follow-up geochemical sampling and geological mapping which will improve our understanding of the Project’s district-scale prospectivity and could lead to additional discoveries.
“This property-wide exploration program at the Buck Project is expected to continue over the coming months as we advance toward a follow-up drill program at Buck Main. Any drill worthy targets delineated during the current program should augment and potentially expand future drilling programs to include testing of multiple targets.”
Exploration Program
The exploration program will include geological mapping and geochemical sampling across key targets identified through a rigorous assessment of recently acquired high-resolution VTEM geophysical data (see news release dated July 14, 2022) together with existing geological, geochemical, and geophysical data (e.g., IP and magnetics) compiled by Sun Summit’s technical team.
Figure 1. Buck Project exploration target areas
Two high-priority areas with significant multi-km2 footprints were first selected for systematic follow-up surveys based on their potential to host Buck-style epithermal-related mineralization or porphyry-related copper mineralization.
- The IRK target, located 11 kilometres south of Buck Main (Figure 1), comprises broad resistivity-highs and surrounding conductivity-high anomalies in VTEM geophysical data, which are coincident with known multi-element (Zn ± Au, Ag, As, Sb, Cu; Figure 1) geochemical anomalies.
- The Eagle Eye target, located near the center of the property (Figure 1), comprises coincident chargeability-high (historic IP data), resistivity-high (VTEM data), and magnetic-low (historic magnetic data) anomalies, similar to the Buck Main system. The target area lacks detailed soil geochemical data.
- Both target areas are interpreted to be underlain by volcanic and volcaniclastic rocks of the Late Cretaceous Kasalka Group. These prospective rocks host epithermal-related mineralization at Buck Main and also epithermal-related mineralization at the Blackwater and Capoose gold-silver development projects of Artemis Gold Inc. (Angen et al., 2018)1.
- The scale and potential of the IRK and Eagle Eye targets will be investigated through detailed geological mapping and targeted geochemical surveys during the current exploration program. In total, over 1,500 soil samples and numerous rock samples will be collected across both target areas. The completion of the geochemical surveys will provide critical insight into the prospectivity of the underlying bedrock and help inform potential follow-up geophysical surveys and drilling.
1 Mineralization at such projects is not necessarily indicative of mineralization at the Buck Project.
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.
Some data disclosed in this news release (e.g., Figure 1) relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has sufficiently verified this data and therefore investors should not place undue reliance on such data. Mineralization hosted on adjacent, nearby or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s property.
References
Angen, J.J., Hart, C.J.R., Kim, R.S., and Rahimi, M. (2018): Geology and Mineral Potential of the TREK Area, Northern Interior Plateau, Central British Columbia, Parts of 1:250,000 NTS Sheets 093B, C, F and G; Geoscience BC Report 2018-12, MDRU Publication 411.175 p.
Community Engagement
Sun Summit is engaging with First Nations on whose territory the Buck Project 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.
Link to Figure
For further information, contact:
Sharyn Alexander
President
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; the impact of exploration competition; 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; 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; 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, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
