Vancouver, British Columbia – June 1, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to report the final drill results from its winter 2022 exploration drill program on its Buck Property, central B.C.
Intersected multiple zones of high-grade and bulk-tonnage style mineralization near the centre of Buck Main:
29.17 grams per tonne (g/t) gold equivalent (AuEq) over 1.0 metre within 3.11 g/t AuEq over 13.2 metres, within broader zone of 0.91 g/t AuEq over 69.8 metres.
Mineralization open in all directions: The broad zone of vein-hosted, high-grade intercepts, central to Buck Main, is unconstrained both laterally and at depth and open for expansion in all directions.
Multiple broad intervals of near-surface, bulk-tonnage style mineralization identified on the eastern side of Buck Main: New drilling demonstrates strong grade continuity.
2.68 g/t AuEq over 11.3 metres within a broad zone of 0.98 g/t AuEq over 67.6 metres
2.22 g/t AuEq over 6.0 metres within a broad zone of 1.08 g/t AuEq over 63.5 metres
1. Intervals are downhole core lengths. True widths are unknown.
2. Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.
3. 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).
4. Assay results for individual metals for each AuEq calculation are reported in Table 1.
Sharyn Alexander, Sun Summit’s President, stated: “The high-grade intersections in drill holes BK22-068 and -069 supports our strong view that the Buck Main system has significant high-grade gold potential. These holes were designed to target high-grade gold-silver-zinc mineralization central to the system as outlined in previous programs – highlighted by discovery hole BK20-012. The remaining holes targeted bulk-tonnage style mineralization on the eastern side of Buck Main and were successful in identifying broad zones of disseminated mineralization in previously untested areas, outlining considerable exploration potential. Planning for the summer exploration season is ongoing and we look forward to additional step-out drilling at Buck Main as well as following up on exploration targets throughout our large property package.”
The nature of the high-grade mineralization at Buck Main is complex, hosted in discreet veins and veinlets with numerous orientations all within broad zones of structural complexity. Based on new observations and assay results, together with results from the previous grid-based program, the comprehensive structural model is being refined to better inform the system-scale orientations of preferential grade-controlling structures.
In addition to the considerable exploration potential west of Buck Main discovered in three step-out holes (see news release dated May 3rd, 2022), the extent of near-surface bulk-tonnage style mineralization on the eastern-side of Buck Main represents an important target. All holes drilled in this area, as well as holes north of Bob Creek in the same host rocks, have so far intersected significant zones of disseminated and local breccia-hosted mineralization. Continued efforts will be focused on investigating the limits of this significant footprint of widespread mineralization.
Holes BK22-068 and -069 targeted high-grade, structurally controlled mineralization as well as broad zones of disseminated gold-silver-zinc mineralization near the centre of the Buck Main epithermal-related system (Figure 1). The holes were designed to investigate the extent and continuity of high-grade gold-silver-zinc mineralization intersected in previous programs (e.g., BK20-012: 5.89 g/t AuEq over 17.0 metres including 23.10 g/t AuEq over 3.0 metres, and BK21-020: 31.75 g/t AuEq over 4.0 metres including 247 g/t AuEq over 0.5 metres; see news releases dated January 5th, 2021, and May 11th, 2021). The holes tested a broad gap in drilling above and below BK20-012 (Figure 2). Based on updated geological modelling, prior to this program, a westerly azimuth was chosen for these holes.
Figure 1. Map showing drill collar locations with selected highlights
Figure 2. EW cross section showing selected highlights
BK22-068, drilled towards the west (Figure 2), intersected multiple zones of strong gold-silver-zinc mineralization starting at the collar and throughout the entire hole highlighted by 1.16 g/t AuEq over 13.6 metres and 1.02 g/t AuEq over 27.9 metres, including 7.09 g/t AuEq over 1.5 metres, and bottomed in 0.75 g/t AuEq over 7.3 metres (Table 1). BK22-069 was collared 45 metres west of BK22-068 and was drilled at a similar azimuth and dip. The hole collared in mineralization and intersected numerous broad zones of gold-silver-zinc mineralization highlighted by 3.11 g/t AuEq over 13.2 metres within broad zone of 0.91 g/t AuEq over 69.8 metres. This broad interval included a high-grade intercept of 29.17 g/t AuEq over 1.0 metre associated with vein-hosted quartz-carbonate-sulfide mineralization.
Mineralization in both holes is hosted in a sequence of andesites and sedimentary rocks cut by northwest-trending quartz-feldspar porphyritic dykes. Higher-grade intervals (Table 1) are hosted in local quartz + carbonate + sulfide veins associated with broad zones of quartz + sericite + pyrite alteration.
Holes BK22-068 and 069 were drilled at different azimuths compared to the previous grid-based drilling completed in late 2021 (see news releases dated January 5th, 2022 and February 22nd, 2022). The aim was to investigate the potential of oblique and/or conjugate structures within the wider east-west trending Buck structural corridor. Veins along these orientations would have been missed during the previous grid-based program, which was drilled with northeast orientations. New insights into this structurally complex zone are being incorporated into the model to inform the next round of drilling, both within and peripheral to the Buck Main system.
Holes BK22-067, 073, 074 and 075 targeted bulk-tonnage style mineralization on the eastern side of Buck Main where previous drilling intersected broad zones of near-surface, strong gold-silver-zinc mineralization hosted in dacitic volcaniclastic rocks (e.g., BK21-017: 1.25 g/t AuEq over 241 metres including 2.36 g/t AuEq over 45 metres, and BK21-032: 1.03 g/t AuEq over 187 metres including 4.38 g/t AuEq over 12.3 metres; see news release dated February 22nd, 2022). Hole BK22-067 was drilled to the east and tested for mineralization continuity below previous drilling and intersected 0.98 g/t AuEq over 67.6 metres including 2.68 g/t AuEq over 11.3 metres associated with disseminated and clotted sphalerite and pyrite. Similarly, hole BK22-075 tested for mineralization continuity above previous drilling and intersected 1.08 g/t AuEq over 63.5 metres including 2.22 g/t AuEq over 6.0 metres. Hole BK22-073 was a step-out hole collared 130 metres southeast of BK20-010 and intersected numerous zones of disseminated gold-silver-zinc mineralization (Table 1) in a previously untested area. Additional drilling to the south and east is warranted.
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.
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.
Corporate Communications Contract Terminated
Sun Summit also advises that it and Jasper Gatrill and have mutually agreed to terminate his corporate communications services contract announced April 14, 2022.
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
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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.
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