Sun Summit Completes 3,000 Metres of Drilling at the Buck Property, Central BC
Sun Summit Completes 3,000 Metres of
Drilling at the Buck Property, Central BC
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2022) - Sun Summit Minerals Corp.
(TSXV: SMN) (OTCQB: SMREF) is pleased to provide an update on the Company's exploration drill
program at the 33,000 hectare Buck Project, central British Columbia. Drilling conducted in the latest drill
program has successfully extended the footprint of near-surface sulfide-related mineralization at the
Buck Main zone.
Highlights
Over 3,000 metres of diamond drilling in eight holes have so far been completed at Buck
Main:
All holes successfully intersected multiple zones of disseminated, breccia- and/or vein-
hosted sulfide mineralization.
Drill holes were predominately step-outs:
Holes were designed to investigate the lateral extent
of near-surface gold-silver-zinc mineralization (see news release
September 8, 2022
).
System remains open:
Holes covering an east-west strike length of over 1,000 metres have now
intersected broad zones of sulfide mineralization.
Six new holes were drilled on the western side of Buck Main targeting known zones of
disseminated and vein-hosted mineralization (e.g., BK22-070; 1.09 g/t gold equivalent
(AuEQ
1
,
2
) over 73.5 metres
3
; see news release
May 3, 2022
).
Two new holes were drilled on the eastern side of Buck Main targeting eastward extensions
of breccia-hosted and bulk-tonnage style disseminated mineralization (e.g., BK22-075; 1.08
g/t AuEQ
1
,
2
over 63.5 metres
3
; see news release
June 1, 2022
).
Assay and geochemical analyses underway:
Core samples from all recently completed holes
have been sent to the lab for assay and geochemical analyses and will be reported once received
and reviewed. Assay results will provide important information for follow up drill planning and
targeting.
Ongoing geophysical survey at priority target areas:
An Induced Polarization (IP) geophysical
survey is ongoing at the IRK and Eagle Eye targets to investigate potential zones of strong sulfide-
related mineralization.
Drill target generation across the project:
The
results of the IP survey, as well as the results
from geochemical sampling, will be used to delineate high-priority drill targets elsewhere on the
property.
Notes:
1.
Calculations were uncut and length-weighted using a 0.10 g/t gold cut-off.
2.
AuEq assumed 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).
3.
Intervals were downhole core lengths. True widths are unknown.
Sharyn Alexander, President of Sun Summit, stated, "We are very pleased with our drill progress this
season. We have selected key areas at Buck Main and tested the extent of known mineralized zones.
Buck Main is a complex hydrothermal system and the data from these systematic step-out holes will form
a critical dataset required to target additional potential extensions. We anticipate drilling to recommence
once all drill data is received and reviewed.
"In addition, we eagerly await the results from our ground IP geophysical survey over the IRK and Eagle
Eye target areas. Data from these surveys will allow us to better delineate high-priority drill targets at
these untested areas."
Figure 1. Fall 2022 Drill Program at Buck Main
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6142/143412_7656fc1b94b7bb43_001full.jpg
Drill Program
Sun Summit has completed over 3,000 metres in eight diamond drill holes at Buck Main as part of the
Company's fully-funded fall 2022 program (see news release
September 8, 2022
). This program
followed-up several successful drill campaigns totalling 75 diamond drill holes over 27,000 metres.
Epithermal-related gold-silver-zinc mineralization has been intersected in drill holes at Buck Main
covering a strike length of over one kilometre and the system remains open in all directions (Figure 1).
Six drill holes tested the western side of the Buck Main zone. The holes targeted western strike-
extensions of disseminated and vein-hosted pyrite-sphalerite mineralization hosted in quartz-sericite
altered volcaniclastic breccias and stratified intermediate volcanic and sedimentary rocks. These
western holes were designed to follow-up on the recent significant discovery of strong gold-silver-zinc
mineralization (e.g., BK22-070;
1.09 g/t AuEQ over 73.5 metres
, see news release
May 3, 2022
; and
BK21-025;
1.04 g/t AuEQ
1
,
2
over 62.0 metres
3
, see news releases
June 10, 2021
and
February 22,
2022
) and test for possible extensions.
Two holes were also drilled on the eastern side of the Buck Main zone. The holes targeted eastward
extensions of disseminated pyrite-sphalerite mineralization hosted primarily in dacitic volcaniclastic
breccias. The holes were collared over 100 metres from
previously reported significant intervals (e.g.,
BK21-033;
0.87 g/t AuEQ
1
,
2
over 409 metres
3
including 1.1 g/t AuEQ over 265 metres
, see news
release
February 22, 2022
, and BK22-075;
1.08 g/t AuEQ over 63.5 metres
, see news release
June 1,
2022
).
Core samples from the drill holes are currently being analyzed at the lab and assay results will be
released once they are received, modelled, and interpreted. Drilling will continue at Buck Main upon
receipt of these results, which will be used to prioritize follow-up drilling.
Geophysical Survey
Over 30 line-kilometres of IP geophysical data has been acquired at the IRK and Eagle Eye target
areas. Results and associated inverted chargeability and resistivity models from the surveys, together
with results from the recently completed soil geochemical surveys, will inform drill targeting elsewhere on
the property.
Qualified Person
Robert D. Willis, P. Eng., Senior Advisor to Sun Summit, is a "Qualified Person" as defined in National
Instrument 43-101,
Standards of Disclosure for Mineral Projects
of the Canadian Securities
Administrators, and has reviewed and approved the scientific and technical disclosure contained in this
news release.
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.
Notes:
1.
Calculations were uncut and length-weighted using a 0.10 g/t gold cut-off.
2.
AuEq assumed 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).
3.
Intervals were downhole core lengths. True widths are unknown.
About Sun Summit
Sun Summit Minerals is an exploration company focused on expanding its gold, silver, and zinc
discovery at its flagship 100% controlled Buck Project located in north-central British Columbia near the
town of Houston.
The Company is exploring multiple high priority targets through systematic exploration campaigns. The
project benefits from 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 accountable
development to generate positive outcomes for all stakeholders.
Further details are available at
www.sunsummitminerals.com
.
Link to Figure
Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2022/11/Fig1_Buck_Drilling_Nov_NR-v2.jpg
For further information, contact:
Sharyn Alexander
President
Roger Blair
Acuity Advisors, 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; 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 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/143412