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Sun Summit Minerals Corp
Symbol SMN
Shares Issued 77,490,213
Close 2023-03-14 C$ 0.16
Market Cap C$ 12,398,434
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Sun Summit Minerals begins drilling at Buck

2023-03-15 09:46 ET - News Release

Ms. Sharyn Alexander reports

SUN SUMMIT COMMENCES DRILLING ON NEW HIGH PRIORITY TARGETS ON THE BUCK PROJECT

Sun Summit Minerals Corp. has commenced drilling on two new high-priority targets at the 43,000-hectare Buck project in central British Columbia.

Highlights:

  • Initial 2,000-metre program: The drill program will include approximately 2,000 metres of diamond drilling at two newly delineated and previously untested drill targets (IRK and Eagle Eye), with substantial new discovery potential, based on recent exploration results (see news release dated Feb. 8, 2023). This is the first drill program undertaken by the company outside of the Buck Main zone.
  • IRK target: An initial 1,200 metres of drilling are planned to test anomalous silver, zinc, lead and copper in soil and rock samples, which are spatially coincident with geophysical lineaments, interpreted to potentially represent structurally controlled epithermal-related gold-silver-zinc vein mineralization. Drilling will systematically test the strongest coincident anomalies across the broad IRK target.
  • Eagle Eye target: Approximately 800 metres of diamond drilling will focus on testing a strong high-chargeability anomaly associated with a broad zone of intense phyllic alteration interpreted to represent distal alteration related to a concealed porphyry target. Drilling will focus on testing the strongest coincidental anomalies at depth.
  • Continuing exploration: The company is continuing with exploration targeting throughout the project area, including Silverthorne, Morice Mountain and Dungate South, which are being refined to establish geologic model and scale in advance of final drill hole vectoring. Additional targets at Buck Main are being developed, where a drill program conducted in fall 2022 (see news release dated Jan. 19, 2023) demonstrated strong continuing expansion potential.

"This is a very exciting drill campaign at the Buck project, where we'll be testing two new targets that have never before been drill tested," stated Sharyn Alexander, Sun Summit's president. "The potential for new discoveries on the project is very high and our systematic approach to exploration targeting gives excellent potential to develop drill-worthy targets outside the existing Buck Main mineralized zone. Drilling at these two new targets and continued development of additional high-priority exploration targets across the project area will provide steady news flow in the near term."

Drill program

Exploration crews have mobilized to the site and drilling is under way at the first target, Eagle Eye. After completion of approximately 800 metres of drilling at Eagle Eye, the drill will mobilize farther south to the IRK zone, where approximately 1,200 metres of drilling will be completed.

The Eagle Eye target is located three kilometres southwest of Buck Main and is characterized by a strong chargeability-high anomaly associated with outcropping quartz-sericite-pyrite (phyllic) altered volcanic and intrusive rocks. The centre of the chargeability-high anomaly is also coincident with a broad magnetic-high anomaly interpreted to reflect a deep and concealed magnetic source, such as a porphyry.

The IRK target is located 11 kilometres south of Buck Main and is characterized by extensive silver-zinc-lead-copper coincidental soil and rock geochemical anomalies associated with numerous north-south-trending high-resistivity and high-chargeability lineaments, which could indicate structurally controlled epithermal-related gold-silver-zinc vein mineralization.

Although mostly concealed by young till and soils, the IRK target is interpreted to be underlain by volcanic and volcaniclastic rocks of the Late Cretaceous Kasalka group. These prospective rocks host epithermal-related mineralization at Buck Main and also epithermal-related mineralization at the Blackwater and Capoose gold-silver development projects (Artemis Gold Inc.) and high-grade silver/base metal veins at Silver Queen (Equity Metals Corp.).

National Instrument 43-101 disclosure

This news release has been approved by Sun Summit's vice-president, exploration, Ken MacDonald, PGeo, 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-sulphidation, 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 centre 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 Minerals Corp.

Sun Summit Minerals 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.

We seek Safe Harbor.

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