05:51:35 EST Mon 25 Jan 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Sun Summit Minerals Corp
Symbol SMN
Shares Issued 51,217,824
Close 2021-01-05 C$ 0.55
Recent Sedar Documents

Sun Summit drills 17 m of 5.86 g/t Au at Buck

2021-01-05 10:58 ET - News Release

Mr. Robert Willis reports

SUN SUMMIT MAKES HIGH-GRADE GOLD DISCOVERY AT BUCK; DRILLS 17 METRES OF 5.86 G/T GOLD INCLUDING 3 METRES OF 23.05 G/T GOLD AND 7.5 METRES OF 10.19 G/T GOLD INCLUDING 1.5 METRES OF 49.60 G/T GOLD

Sun Summit Minerals Corp. has discovered high-grade gold and silver mineralization on the Buck property in central British Columbia. The 22,000-hectare property, approximately 12 kilometres south of Houston, B.C., has excellent nearby infrastructure and allows for year-round road-accessible exploration. Sun Summit recently completed 4,180 metres of drilling in 10 diamond drill holes. Results from all holes are reported.

Highlights

  • A significant high-grade Au discovery has been made in an area previously untested between the Horseshoe and Trench zones: BK20-012 intersected multiple high-grade Au intervals, 17 metres of 5.86 grams per tonne Au, including three metres of 23.05 g/t Au, and 7.5 metres of 10.19 g/t gold Au, including 1.5 metres of 49.6 g/t Au. These new zones are open in all directions.
  • Extensive zones of near-surface Au and Ag mineralization characteristic of the Horseshoe zone confirm the bulk-tonnage potential of the Buck property. BK20-006 intersected 46 metres of 1.12 g/t gold equivalent, including 24.7 metres of 1.69 g/t AuEq, and BK20-012 intersected 40.5 metres of 1.03 g/t AuEq.
  • All holes drilled to date intersected significant intervals of Au and Ag mineralization, and many holes ended in mineralization. BK20-010 cut 8.1 metres of 1.25 g/t AuEq and 5.6 metres of 1.95 g/t AuEq near the bottom of the hole. BK20-012 ended in 12.7 metres of 1.05 g/t AuEq.
  • The drill program will resume this month with three primary objectives: 1) target new high-grade Au mineralization peripheral to BK20-012, 2) drill new geophysical targets interpreted to be associated with Au mineralization, and 3) expand drilling footprint in zones of near-surface bulk-tonnage style mineralization. Further details will be provided in an upcoming release.

Bob Willis, Sun Summit's chief executive officer, stated: "The discovery of several new zones of high-grade gold mineralization is a complete game changer for our current exploration model at Buck. This is an important milestone for all Sun Summit's shareholders as it demonstrates the existence of previously unrecognized high-grade gold mineralization. Results from BK20-012 and its proximity to untested chargeability anomalies from our recently completed IP survey bode well for additional discoveries.

"This discovery of high-grade gold mineralization is the result of our technical team's hard work to develop and apply new exploration models at Buck and I commend them on this discovery. Based on new interpretations, changes made during this program included deeper drill holes with different orientations compared to historic drilling. Deeper holes succeeded in intersecting new gold zones below historic drill depths and most of these are wide open for expansion. Better hole orientations have encountered several significant gold intervals at or near surface.

"We are designing a follow-up drill program to expand on these new zones and to explore for more high-grade mineralization. Sun Summit is financed and permitted for this program that will start as soon as possible. Buck has no seasonality issues for drilling. We are very excited about these new developments and plan to hit this hard."

Buck property drill program

The primary aim of the recent 2020 drill program was to test the lateral and vertical extent of epithermal-related Au and Ag mineralization outlined by previous drilling and new geological and structural mapping (see SMN's news release dated Sept. 28, 2020). Ten diamond drill holes totalling 4,180 metres were completed primarily focused on the Horseshoe and the Buck North zones.

Horseshoe to Trench zone

One drill hole tested a large gap in historic drill data between the Trench zone (see SMN's news release dated June 23, 2020, for historic Trench zone data) and the Horseshoe zone.

BK20-012 collared in sphalerite and pyrite and quartz and carbonate cemented dacite clast-bearing breccias with near-consistent Au and Ag mineralization, and intersected 19.5 metres of 1.66 g/t AuEq from near the top of the hole. The hole transitioned into bedded-ash to crystal tuffs cut by quartz-feldspar porphyritic dikes. Peripheral to the dikes and associated with broad zones of pervasive sericite and quartz alteration with disseminated and stringer-controlled pyrite and sphalerite are local zones of high-grade Au mineralization (e.g. 17 metres of 5.86 g/t Au and 7.5 metres of 10.19 g/t Au). The hole ended in 12.7 metres of 1.05 g/t AuEq hosted in similar sericite and quartz altered lapilli tuffs below a quartz and feldspar porphyritic dike. Additional drilling is clearly warranted to investigate the nature of the structural and/or lithological controls to the high-grade Au mineralization and to further test the near-surface and depth potential for bulk-tonnage Au and Ag mineralization. Assays from BK20-012 are reported in the relevant table.

Horseshoe zone

Six holes targeted the extent and potential structural and/or lithological controls on disseminated Au and Ag mineralization in the Horseshoe zone previously investigated in phase one of the program (BK20-001 and BK20-002; see SMN news release dated May 12, 2020).

Holes BK20-006, BK20-007 and BK20-009 intersected zones of near-surface, sulphide-cemented breccias similar to the top of BK20-012 (e.g. BK20-006, 46 metres of 1.12 g/t AuEq). These northwest-trending breccia bodies are spatially related to the margins of much larger magmatic-hydrothermal polymictic breccias with clast compositions varying from dacite to andesite. Breccia matrix is predominantly composed of quartz and feldspar porphyritic dacite and hydrothermal cement varies from carbonate-dominant to sulphide and quartz and carbonate dominant. All phases of breccias contain Au and Ag mineralization associated with clotted and disseminated sphalerite and pyrite (e.g. BK20-009, 111 metres of 0.52 g/t AuEq). At depth, all holes intersected thick intervals of dacitic crystal to lapilli tuffs and local intercalations of andesite flows. Hole BK20-010 ended in pervasive sericite altered lapilli tuff with local intrusive clasts with significant Au and Ag mineralization near the bottom of the hole (e.g. 8.1 metres of 1.25 g/t AuEq and 5.6 metres of 1.95 g/t AuEq). Mineralization is open in most directions and further drilling is warranted to test the extent of near-surface bulk-tonnage mineralization. Assays from the Horseshoe zone are reported in the relevant table.

Buck North zone

Three holes targeted the lateral extent of disseminated Au and Ag mineralization north of Bob Creek in the Buck North zone.

Holes BK20-014 and BK20-016, spaced 300 metres apart, cut long intervals of disseminated Au and Ag mineralization associated with clotted pyrite and sphalerite hosted in well-sorted dacitic crystal to lapilli tuffs. The tuffs are underlain by andesite flows and andesitic tuffs that host local higher-grade vein-controlled Au and Ag mineralization (e.g. BK20-014, eight metres of 1.51 g/t AuEq, including 1.4 metres of 7.33 g/t AuEq). Based on the orientation of these higher-grade veins relative to core-axis, additional shallowly dipping drill holes are clearly warranted to test for the presence of near-vertical, parallel vein-arrays. Assays from the Buck North zone are reported in the relevant table.

Drill program to resume in late January

Sun Summit will mobilize drill crews back to the Buck property in late January to resume the exploration drill program. The company is currently compiling all the down-hole lithogeochemical data together with the lithology, alteration and structural data captured during core logging to refine the geological and exploration model for the property. This geological compilation is also being integrated with the 3-D induced polarization chargeability model (see SMN's news release dated Nov. 5, 2020) to refine new drill targets. Additional information regarding this next phase of drilling will be released once all interpretation is complete and drill holes are planned.

Quality assurance and quality control

All sample assay results have been monitored through a quality assurance/quality control program. Drill core was sawn in half at Sun Summit's core logging and processing facility in Houston, B.C. Half the core was sampled and shipped in sealed and secure bags to the ALS Global preparation facilities in Terrace, B.C., and Yellowknife, NWT. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C., for analysis. Core samples were analyzed for 48 elements by ICP-MS on a 0.25-gram sample using a four-acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30-gram sample with an AAS finish (method Au-AA23). Overlimit gold (greater than 10 parts per million) was reanalyzed by fire assay using a gravimetric finish on a 30-gram sample. Overlimit silver (greater than 100 parts per million) was reanalyzed using a four-acid digestion and ICP-AES finish. Overlimit zinc (greater than 10,000 parts per million) was reanalyzed using a four-acid digestion and ICP-AES finish. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.

In addition to ALS Global laboratory QA/QC protocols, Sun Summit implements an internal QA/QC program that includes the insertion of duplicates, standards and blanks into the sample stream.

National Instrument 43-101 disclosure

This news release has been approved by Sun Summit's CEO, Mr. Willis, PEng, 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.

Some data disclosed in this news release relating to sampling and drilling results are historical in nature. Neither the company nor a qualified person has sufficiently verified these data and therefore investors should not place undue reliance on such data.

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 Minerals Corp.

Sun Summit (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.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.