Sun Summit Minerals Corp. V.SMN

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[IWAnews]

SUN SUMMIT INTERSECTS LONGEST INTERVAL OF CONTINUOUS, NEAR SURFACE GOLD MINERALIZATION TO DATE: 87 METRES OF 1.13 G/T GOLD EQUIVALENT WITHIN 409 METRES OF 0.52 G/T GOLD EQUIVALENT

• July 7, 2021

Vancouver, B.C. July 6, 2021: Sun Summit Minerals Inc. (TSX-V: SMN; OTC: SMREF) (“Sun Summit” or the “Company”) is pleased to report the final assay results from the first phase of its 2021 exploration program on its Buck Property, central British Columbia.

Highlights

Long intervals of continuous gold mineralization cut in BK21-033 (Horseshoe zone):

• 87 metres of 1.13 grams per tonne (g/t) gold equivalent (AuEQ) within 265 metres of 0.66 g/t AuEQ and 409 metres of 0.52 g/t AuEQ.

• 409 metre interval starts at six metres down hole and represents the longest zone of continuous gold mineralization intersected on the property.

• BK21-033 together with previously reported BK21-017 (241 metres of 0.77 g/t AuEQ, including 109 metres of 1.15 g/t AuEQ; May 11th, 2021 News Release) and BK21-032 (187 metres of 0.73 g/t AuEQ including 54.0 metres of 1.19 g/t AuEQ and a lower interval of 59.1 metres of 0.95 g/t AuEQ; June 10th, 2021 News Release) demonstrate significant bulk-tonnage gold potential of the northern-extent of the Horseshoe zone.

• Based on 2020 and 2021 drilling, the mineralized system at Buck is at least 950 metres east-west by 900 metres north-south, with limits not yet defined.

Note: Intervals are downhole core lengths. True widths are unknown. AuEQ based on a 65:1 silver to gold ratio.

Bob Willis, Sun Summit’s CEO, commented:

“The 2021 drill program is a clear success. All holes cut multiple intervals of strong gold mineralization associated with significant hydrothermal alteration. In addition, large step-out holes from previously drilled areas, have yet to constrain the limits of the epithermal-related mineralized system.

“In this final batch of assays, BK21-033 yielded 211 gram*metres (409 metres x 0.52 g/t AuEQ), the highest gram*metre intersection to date on the property. This drill hole, along with holes BK21-017 and BK21-032, demonstrates the potential of the northern extent of the Horseshoe zone. This will be a priority area to further drill test once we ramp up our drill program.

“We aggressively stepped-out 400 metres to the east and drilled through post-mineralization volcanic rocks and hit Horseshoe zone-style breccia mineralization right below the basalts. This exploration success significantly opens the eastern side of the property for gold zone expansion.

“All Trench zone holes in 2021 were designed based on results from one hole – discovery hole BK20-012 (17.0 metres of 5.89 g/t AuEQ including 3.0 metres of 23.10 g/t AuEQ). With no assays to guide hole placement while drilling was ongoing, we sited holes to maximize coverage within the known Trench-Horseshoe area, rather than trying to target specific high grade intercepts. Even so, drilling succeeded in delivering numerous additional drill intercepts of similar grade from this area. Our team is now working on a modified and still evolving geological model that we will use in generating our plan for the next phase of drilling. We plan to aggressively explore Buck with an expanded drill program as soon as this geological modelling is complete. The Buck gold mineralized hydrothermal system has been intercepted over an area of approximately 950 metres by 900 metres, based on drilling to date. Its limits and full extent are still unknown.

“We also look forward to reporting the results of our ongoing property-wide exploration program as they become available. Early indications from this work are encouraging and may add targets for drill testing sooner rather than later.”

Sun Summit has drilled 18 holes so far in 2021. Results from the first five holes were announced on May 11th, 2021 and results from six additional holes were announced on June 10th, 2021. Results from the final seven holes are reported in this news release (Tables 1, 2 and 3).

Sun Summit Investing With Awareness
 

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