Sun Summit Plans Initial Mineral Resource Estimate at the Buck Project, Central BC
Sun Summit Plans Initial Mineral Resource
Estimate at the Buck Project, Central BC
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2023) - Sun Summit Minerals Corp. (TSXV:
SMN) (OTCQB: SMREF) is pleased to announce plans for an initial Mineral Resource Estimate to be
completed covering the Buck Main zone of the Buck Project, located in central British Columbia.
Highlights
Initial Mineral Resource Estimate:
An initial Mineral Resource Estimate (MRE) is being planned
for Buck Main, with expected completion in Q1 2024. Since 2020, 98 drill holes totalling over
34,500 metres have been completed within the Buck Main zone, with the potential to incorporate
additional historic drilling.
Assay Results Pending:
Remaining results from the most recent drill program will be reported
once they are received and analyzed, and will be included in the planned MRE.
Unconstrained Mineralized Footprint:
The known mineralized footprint demonstrates strong
near-surface grade continuity and currently measures over 1.1 kilometres in strike length and 700
metres in width. Latest drill testing at Buck Main continues to intersect mineralization outside the
known footprint, supporting the zone's further potential for expansion subsequent to completion of
the MRE.
Ongoing Discovery Potential:
In tandem with completion of the MRE, drilling and exploration will
continue throughout the Buck Project area with multiple additional zones and target areas
warranting exploration and drill testing. Successful delineation of additional mineralization outside
of the MRE could trigger a future update or expansion to the initial MRE.
"We are excited to announce plans to commence an initial Mineral Resource Estimate on the Buck Main
zone." stated Sharyn Alexander, Sun Summit's President. "The Buck Project is located in an exceptional
jurisdiction with existing infrastructure, transparent permitting process, and district-scale exploration
upside. Drill results at Buck Main continue to demonstrate significant potential with size and scale
opportunities. Our technical team has systematically tested the system, defined by near-surface gold,
silver and zinc mineralization, which remains open in all directions. As we continue our ongoing
exploration throughout the project area, the completion of an initial MRE will be a significant milestone for
the company and a major step in highlighting the project's current value proposition and ongoing growth
potential."
Buck Main Details
Since 2020, Sun Summit has drilled 34,500 metres in 98 diamond drill holes at Buck Main testing the
limits of the mineralized system (Figure 1). In addition, many historic drill holes have been completed on
the project and could be included in the upcoming resource calculation.
Figure 1. Drilling at Buck Main with select highlight intervals
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/185016_319dbe7574275ae5_001full.jpg
The known mineralized footprint currently measures over 1.1 kilometres in strike length, 700 metres in
width, with mineralization open in all directions (Figure 2). Recent drill results highlight the significant
expansion potential along the northern and western extent of known mineralization as well as strong
depth potential where previous drilling is sparse (see
October 18, 2023
, news release).
The planned initial MRE on Buck Main will be calculated in accordance with the Canadian Institute of
Mining, Metallurgy and Petroleum (CIM) Definition Standards incorporated by reference in National
Instrument 43-101. Completion of the initial MRE is expected by Q1 2024.
Figure 2. The growth of the mineralized envelope at Buck Main over the course of three years of
intermittent drill programs
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/185016_319dbe7574275ae5_002full.jpg
The MRE at Buck Main will draw primarily on results from 2020 to 2023 drilling where
significant
intercepts of
broad, near-surface, bulk tonnage-style disseminated gold-silver-zinc
mineralization have been previously reported
. Examples of this style of mineralization include:
0.96 g/t Au, 5.1 g/t Ag, 0.2% Zn over 44 m (BK20-001)
0.89 g/t Au, 10.7 g/t Ag, 1.26% Zn over 40.5 m (BK20-012)
1.07 g/t Au, 5.5 g/t Ag, 0.65% Zn over 109 m (BK21-017)
0.67 g/t Au, 4.4 g/t Ag, 0.46% Zn over 187 m (BK21-032)
1.02 g/t Au, 10.8 g/t Ag, 1.17% Zn over 54 m (BK21-032)
0.71 g/t Au, 5.6 g/t Ag, 0.62% Zn over 187 m (BK21-033)
0.68 g/t Au, 4.8 g/t Ag, 0.46% Zn over 175.3 m (BK21-038)
0.77 g/t Au, 2.6 g/t Ag, 0.27% Zn over 67.6 m (BK22-067)
0.83 g/t Au, 9.2 g/t Ag, 0.21% Zn over 54.6 m (BK22-077)
Zones of significant high-grade gold-silver-zinc mineralization has also been intersected in
multiple holes across the Buck Main area
. Examples of high-grade intercepts include:
49.6 g/t Au, 10.8 g/t Ag, 0.06% Zn over 1.5 m (BK20-012)
246 g/t Au, 66.7 g/t Ag, 0.02% Zn over 0.5 m (BK21-020)
41.9 g/t Au, 9.5 g/t Ag, 0.12% Zn over 1.0 m (BK21-024)
33.4 g/t Au, 17.4 g/t Ag, 0.15% Zn over 1.0 m (BK21-026)
31.3 g/t Au, 37.0 g/t Ag, 3.68% Zn over 1.0 m (BK21-035)
26.5 g/t Au, 199.0 g/t Ag, 0.14% Zn over 1.0 m (BK22-069)
38.0 g/t Au, 137.0 g/t Ag, 5.9% Zn over 1.1 m (BK22-083)
Note: Drill intercepts are measured downhole and are not true widths.
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit's Vice President Exploration, Ken MacDonald, P.
Geo., 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 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 the Buck Project
The Buck Project is situated in a historic mining district near Houston, B.C., with excellent nearby
infrastructure that allows for year-round, road-accessible exploration.
The project is host to the Buck Main intermediate-sulfidation epithermal-related gold-silver-zinc system.
Most of the mineralization drilled to date at Buck Main consists of long, continuous zones of
disseminated and breccia-hosted, bulk tonnage-style gold-silver-zinc. Vein-hosted, high-grade
mineralization has also been intersected near the center of Buck Main.
Exploration at the Buck Project is focused on investigating the lateral and vertical extent of gold-silver-
zinc mineralization at the Buck Main system, and to define additional drill targets across the entire land
package through systematic exploration programs.
About Sun Summit
Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on
expanding its gold, silver, and zinc discovery at its flagship Buck Project located in north-central British
Columbia.
Sun Summit is committed to environmental and social responsibility, with a focus on accountable
development and building respectful and beneficial relationships with Indigenous and local communities.
Further details are available at
www.sunsummitminerals.com
.
Link to Figures
Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2023/10/Fig1-Buck_Drilling_Oct23_NR.jpg
Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2023/10/Fig2-Buck-Mineralized-Envelope-Oct23.jpg
For further information, contact:
Sharyn Alexander
President
Matthew Benedetto
Simone Capital
Tel. 416-817-1226
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/185016