Vancouver, B.C. October 13th, 2021: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) (“Sun Summit” or the “Company”) is pleased to provide an update from its fall 2021 phase of drilling at its 100% controlled Buck Property, central British Columbia. Two drill rigs are currently operating on site.
Highlights
- Build on high-grade gold discovery: One drill rig is focused on high-grade gold mineralization in the Trench Zone (e.g., 31.6 grams per tonne (g/t) gold over 4.0 metres including 246 g/t gold over 0.5 metres; BK21-020, see SMN news release dated May 11th, 2021). Nine holes have been completed so far, testing the target area by systematically stepping-out from previously reported significant intervals.
- Expand footprint of near-surface, bulk tonnage-style gold mineralization in the Horseshoe Zone and parts of the Trench Zone: One rig is stepping-out from known zones of near-surface, bulk tonnage-style gold mineralization (e.g., 1.07 g/t gold over 109 metres including 7.17 g/t gold over 5.2 metres; BK21-017, see SMN news release dated May 11th, 2021) and investigating lithological and structural controls on mineralization. Four holes have been completed so far in this area.
- Additional holes planned: Based on encouraging visual observations from numerous drill holes, together with updated modelling of new lithological and structural data, additional drill holes are planned.
- Assay and geochemical analyses underway: Core samples from two holes have been sent to the lab for assay with additional core shipments anticipated to be submitted on a weekly basis.
Bob Willis, Sun Summit’s CEO, stated, “We are very pleased with our drill progress so far. The program is moving along as planned and we are hitting encouraging mineralization in all holes. Our geological team has been amending the drill plan based on new information from current drilling and has been updating the exploration model daily. New drill holes based on the refined model are planned. We eagerly await assay results and plan to update shareholders on a regular basis.”
Drill Program
The current drill program has three primary objectives, 1) investigate the extent and continuity of high-grade gold mineralization characteristic of the Trench Zone, 2) investigate the strike-extent of near surface, bulk-tonnage gold mineralization characteristic of the Horseshoe Zone, and 3) investigate the limits of the mineralized hydrothermal footprint. Over 30 drill holes are planned within a footprint of approximately 600 metres by 300 metres (see SMN news release dated September 28th, 2021). Thirteen drill holes totalling over 3,200 metres have so far been completed, all with northeast oriented azimuths.
Intervals of pervasive silica and sericite alteration peripheral to quartz-feldspar porphyritic dykes with associated quartz-sulfide veinlets and stockworks have been observed in multiple holes in the Trench Zone. These prospective zones are hosted in fine grained sedimentary and intermediate volcaniclastic rocks. The contact of these bedded rocks with thick sequences of poorly-sorted and chaotic dacitic lapilli tuffs is interpreted to be a partial control on the distribution of gold-bearing, sphalerite-rich sulfide-cemented breccias of the Horseshoe Zone. This interpreted structural contact has been modelled to be northwest trending. Additional drilling is planned to test along this trend between the Trench and Horseshoe zones with the aim of expanding zones of near-surface mineralization while investigating the relationships between the two mineralization styles.
Core samples are being dispatched from the Company’s core logging facility in Houston, B.C. to the ALS Global preparation facility in Kamloops, B.C. Samples from the first two holes are in the lab and more are anticipated to arrive in the coming days.
Buck Property
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.
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 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
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
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 Minerals Corp. (SMN) 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.
