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Sun Summit completes 10 holes at Buck
2020-11-05 10:44 ET - News Release
Ms. Sharyn Alexander reports
SUN SUMMIT MINERALS PHASE 2 DRILLING UPDATE AND COMPLETION OF IP SURVEY AT THE BUCK PROPERTY
Sun Summit Minerals Corp. has completed 10 diamond drill holes at its 100-per-cent-controlled Buck gold and silver property in north-central British Columbia.
HighlightsCompletion of 10 HQ diamond drill holes totalling 4,200 metres. All samples are in the lab and assays are pending.All holes tested the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Horseshoe Zone.Continuous zones of disseminated, vein-hosted, and breccia-hosted sulfide mineralization were observed in all drill holes. A 2 by 2.5 kilometre 3D Induced Polarization (IP) survey was completed over the known extent of the breccia complex as well as over areas considered prospective for mineralization below overburden.
Bob Willis, Sun Summit's CEO, stated: "It is very encouraging to see the style and extent of mineralization identified in our drilling. We have tested only a small fraction of this breccia system and look forward to analyzing the results as soon as the assays are received and interpreted. The fact that we can drill year round gives our shareholders exposure to continued news flow throughout the winter."
Drilling
Phase 2 drilling is focussed on testing the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Buck breccia complex (see SMN news release dated August 6, 2020). Current drill collars cover a footprint of approximately 550 by 250 metres and holes were drilled to a maximum depth of 500 metres (see Figure 1). New geological observations have been used to characterize multiple breccia-hosted mineralization styles comprised of sulfide cemented magmatic-hydrothermal breccias, mineralized clast-bearing volcanic breccias and hydrothermal breccias with cross cutting sulfide-bearing veins. Pervasive and selectively pervasive hydrothermal alteration comprised of silica + sericite plus or minus carbonate plus or minus clay is widespread and associated with locally strong sulfide mineralization. Most holes cut long intervals of varying proportions of disseminated, clotted and vein-hosted sphalerite, pyrite, marcasite plus or minus chalcopyrite and galena. Based on results from Phase 1 drilling (see SMN news release dated May 12, 2020), these alteration and sulfide mineral assemblages are considered prospective for associated gold and silver mineralization.Figure 1. Current Phase 2 Drill Hole LocationsTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/6142/67501_fd1d4fa9c405aac6_001full.jpg
Induced Polarization Survey
The recently completed 3D IP survey has outlined new areas of strong chargeability response both laterally from and below the current drilling footprint. These new data together with the recently released soil geochemistry (see SMN news release dated September 28, 2020) suggests that additional targeting is warranted north of the Horseshoe Zone in the untested Bob North Zone. New coincident geophysical features (e.g., chargeability and resistivity) at >300 metres depth suggests that additional deeper drilling is also warranted to investigate the potential buried heat source related to widespread, near-surface mineralization.
Exploration Model
The Company is now awaiting assays from the recently completed 10 drill holes. These data will be compiled and modelled together with the new 3D IP geophysical data, ground magnetic geophysical data, soil geochemical data and surface and subsurface lithological and hydrothermal alteration data to build and refine a comprehensive exploration model. This new model will be used to guide additional drill hole targeting.
Metals Investment Forum
Sun Summit will be participating in the Virtual Metals Investment Forum (MIF) on Thursday, November 5, 2020. Hosted by newsletter writers, the forum showcases each writer's Top Pick investment opportunities in exploration and mining.
To register for the upcoming virtual MIF conference, please visit the event's website:
www.metalsinvestorforum.com
Global Mining Symposium
Sun Summit will be participating in the Global Mining Symposium on Thursday, November 12, 2020. The virtual mining and investment conference, presented by The Northern Miner, attracts experts from mining, exploration, and finance.
To register for the upcoming virtual Global Mining Symposium, please visit the event's website:
https://www.northernminer.com/gms/register/
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 Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.
The Company's principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines.
Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
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.
We seek Safe Harbor.