Sun Summit Minerals Corp. [TSXV-SMN; OTCQB-SMREF] reported final assay results from its 2023 multistage exploration program on the 52,000-hectare Buck project, central British Columbia. Assay results continue to demonstrate strong expansion potential for both disseminated and high-grade gold, silver and zinc mineralization along the northwestern and northeastern extents of the Buck Main zone.
Highlights: Significant mineralization confirms strong grade continuity: Results from the four remaining drill holes show continuity of near-surface gold (Au), silver (Ag) and zinc (Zn) mineralization in areas where previous drilling is sparse:
Hole BK23-095 returned 0.44 g/t gold equivalent (AuEq) over 40.5 metres from 15 metres depth, and 0.79 g/t AuEq over 41.5 metres from 173.5 metres depth, including 1.45 g/t AuEq over 15 metres.
Hole BK23-096 returned 0.78 g/t AuEq over 16 metres from a depth of 107 metres, including 5.84 g/t AuEq over 1.5 metres and 0.84 g/t AuEq over 39 metres from a depth of 133.8 metres, including 1.89 g/t AuEq over 12.3 metres.
Hole BK23-097 bottomed in mineralization, intersecting 0.5 g/t AuEq over one metre to the end of the hole. Hole BK23-098 bottomed in 0.76 g/t AuEq over 22.5 metres, suggesting disseminated mineralization increases at untested depths to the northeast.
Mineral resource estimate to be completed on Buck Main: An initial mineral resource estimate (MRE) will be calculated on Buck Main with expected completion in Q1 2024. The MRE will include recent drilling completed at Buck Main with the potential to incorporate additional historic drilling.
“The final set of assay results from the recent drilling at Buck Main continue to demonstrate the strong continuity of mineralization across this large mineralized system and the expansion opportunities that remain to be drilled,” stated Sharyn Alexander, president. “We are very encouraged by all the results from the 13 drill holes completed recently at Buck Main, which successfully intersected both disseminated and high-grade mineralization in new areas that were previously undrilled. These latest results will be incorporated into the geological model and, ultimately, into the planned mineral resource estimate anticipated for completion in Q1 2024. The consistent broad zones of near-surface mineralization at Buck Main clearly demonstrate the large-scale gold, silver and zinc potential of this target, which remains open in all directions, and the recent drill results strengthen our belief in the value of this asset.”
The recently completed drill program at the Buck Main target consisted of 3,738 metres over 13 diamond drill holes aimed at testing the lateral and vertical extents of near-surface gold-silver-zinc mineralization, particularly on potential high-grade zones and the limits of mineralization to the north, east, and west. The current known mineralized footprint at Buck Main demonstrates strong near-surface grade continuity and currently measures over 1.1 kilometres in strike length and 700 metres in width.
The first two drill holes from the 2023 drill program indicated that significant mineralization extended laterally to the east and at depth. Highlights included 185.9 metres of 0.66 g/t AuEq, and 20.1 metres of 0.98 g/t AuEq (BK23-087). Seven additional holes confirmed that significant gold, silver, and zinc mineralization extended laterally beyond limits of previous drilling and defined strong depth potential. Highlights included 43.5 metres of 1.26 g/t AuEq in a 100 metre step-out to the northwest (BK23-094). Results from the four holes discussed in this release confirms continuity of near-surface gold, silver, and zinc mineralization in areas where previous drilling is sparse.
Holes BK23-095, BK23-096, and BK23-097 were drilled to target the northwestern extent of disseminated mineralization.
Correction to News Release: The company also announces a correction to its news release issued November 9, 2023, regarding the finder’s fee for the option to acquire the JD Project. The revised section is outlined below.
Subject to Exchange approval, Sun Summit intends to pay a finder’s fee to Dr. Christopher Leslie of up to $28,750 and 200,000 post-consolidated shares over two years in consideration of his efforts in the Company being granted its option to acquire the JD Project.
Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives.
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.
Sun Summit is focused on focused on expansion and discovery of district scale gold and copper assets in central British Columbia. The company’s diverse portfolio includes the Buck Project in north-central B.C, and the JD Project in the Toodoggone region of B.C.
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