Sun Summit Commences Significant Drill Program at Buck; Targets Continuity of High-Grade Gold Mineralization
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2021) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to announce that it has commenced a new phase of drilling at its 100% controlled Buck Property, central British Columbia. Two drill rigs are currently on site, and another rig may be added later, dependent on availability.
Highlights
- Build on high-grade gold discovery: Sun Summit will systematically investigate the structural controls and spatial distribution of high-grade gold intersected in multiple holes in early 2021, stepping out around the Trench Zone area (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).
- Expand footprint of near-surface, bulk tonnage-style gold: Sun Summit will also focus on delineating and expanding the size and trend of bulk tonnage-style gold mineralization intersected in numerous holes in 2020 and early 2021 in the Horseshoe Zone area (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).
- Over 30 drill holes are planned in this initial phase of drilling: Two diamond drill rigs are on site; one initially focused on the Trench Zone and one initially focused on the Horseshoe Zone.
- Test new targets: Numerous additional targets within and outside of the open-ended, 900 metre by 950 metre mineralized system (see SMN news release dated July 6th, 2021) will also be tested. Holes drilled in these targets will be in addition to the 30 plus holes to be drilled in the Trench and Horseshoe zones.
Bob Willis, Sun Summit's CEO, stated,
"We are excited to commence this significant phase of drilling at our Buck property. Based on encouraging results from earlier this year we have gained considerable insight into property-scale structural controls on widespread gold and silver mineralization at Buck."
"This next phase of drilling will test these new structural models by focusing on local controls considered to be important for the distribution of high-grade gold mineralization. We have designed a series of drill holes to systematically test the extent and potential of the Trench and Horseshoe zones. These holes, as well as possible wider step-out holes, could exceed 12,000 metres of drilling. This drill phase is open ended and can be expanded based on ongoing results."
Drill Program
Over 30 drill holes are planned within a footprint of approximately 600 metres by 300 metres. The drill program has three primary objectives:
1) Investigate the extent and continuity of high-grade gold mineralization characteristic of the Trench Zone. All previous Trench Zone holes (e.g., 31.6 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) were designed based on results from discovery hole BK20-012 (5.86 g/t gold over 17 metres including 23.05 g/t gold over 3.0 metres; see SMN news release dated January 5th, 2021). Updated modelling has defined broad northwest trends to high-grade gold mineralization within the target area. New drill holes, all with northeast oriented azimuths, are designed to systematically test these trends for continuity of mineralization. Tightly-spaced step-out holes peripheral to areas of known mineralization together with wider-spaced step-out holes along and across trends will be completed. Twenty four drill holes are initially designed for the Trench Zone.
2) Investigate the strike-extent of near surface, bulk-tonnage gold mineralization characteristic of the Horseshoe Zone. All previous holes in the Horseshoe Zone hit near-continuous, broad zones of breccia-hosted and disseminated gold mineralization (e.g., 1.13 g/t gold equivalent over 87 metres within 0.52 g/t gold equivalent over 409 metres; BK21-033; see SMN news release dated July 6th, 2021). The zones are unconstrained, and modelling suggests further drilling is warranted to define the extent of bulk-tonnage mineralization. All new drill holes are designed to test the extent of, and the structural relationship between the two key styles of gold mineralization observed within the Horseshoe Zone, being (1) sphalerite-rich sulfide-cemented hydrothermal 'mosaic' breccias (e.g., 1.04 g/t gold over 46 metres including 3.76 g/t gold over 5.7 metres; BK20-006; see SMN news release dated January 5th, 2021) and, (2) disseminated throughout volcanic breccias (e.g., 0.58 g/t gold over 127.2 metres; BK20-001; see SMN news release dated May 12th, 2020). Seven holes are initially planned in the Horseshoe Zone.
3) Investigate the limits of the mineralized hydrothermal footprint. Epithermal-related alteration and mineralization has been intersected in drill holes covering a footprint of approximately 900 metres by 950 metres, including below post-mineralization basalts (see SMN news release dated July 6th, 2021). The true extent of this footprint is unknown. Additional holes are designed to explore for new mineralized centres within, and outside of the known footprint.
Exploration update
Property-wide exploration is ongoing (see SMN news release dated August 4th, 2021). Numerous soil-geochemical grids and long property-scale soil transects have been completed totalling over 2,600 samples. Over 220 systematic rock-chip samples have also been collected from newly identified areas of widespread hydrothermal alteration as well as targets identified from a thorough compilation of all available historic exploration data. Soil and rock samples are currently in the lab and results will be released once all data are received and have been interpreted. Management believes this work will yield additional priority drill targets outside the Trench-Horseshoe area.
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.
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