Mining Investor Stock News - Sun Summit (TSXV: SMN) (OTCQB: SMREF) Defines Multiple Untested Exploration Targets and Expands Field Program at Buck Project as Drilling Continues
Vancouver, British Columbia - September 22, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to report that the ongoing property-wide field exploration program has been expanded with the goal to delineate additional drill targets at the 33,000 hectare Buck Project, central British Columbia. Ongoing work has increased the number of targets, but several targets remain open and require additional work to fully define and prioritize.
- Numerous multi-element soil anomalies provide potential new drill targets: Broad multi-element soil anomalies identified at the IRK, Eagle Eye, Tower, Cabin and Buck West targets are considered prospective for Buck-style gold-silver-zinc mineralization. An expanded field program will focus on infill and step-out soil sampling at these targets.
- Geochemical targets are coincident with geophysical anomalies: Most multi-element soil anomalies are coincident with previously defined high-priority geophysical anomalies.
- Induced Polarization (IP) geophysical survey is commencing: Over 20-line kilometres of grid-based IP geophysics aimed at improving drillhole targeting will focus on the IRK and Eagle Eye zones.
- Assays pending for exploration samples: Over 50 rock chip samples collected from outcrops at many targets have been submitted to the lab for assay and multi-element geochemistry.
- Ongoing drilling at Buck Main: Current drilling is initially focused on targeting possible western extensions of near-surface gold-silver-zinc mineralization at Buck Main. Additional targets peripheral to Buck Main may also be tested as the program continues.
- Significant discovery potential across the project: Results of the ongoing geochemical and geophysical exploration program will help identify and delineate additional high-priority drill targets in under-explored areas of the Buck Project.
Sharyn Alexander, President of Sun Summit, stated, "We have now defined numerous high-priority exploration targets across the 33,000 hectare Buck Project with many targets featuring geochemical and geophysical signatures similar to the Buck Main zone. Ongoing drilling is currently focused on expanding the mineralized footprint of Buck Main. In addition, our continuing property-wide exploration is focused on generating new drill targets and making additional discoveries elsewhere on the property. Once ranking of new target areas is complete, we intend to drill test the most promising. We have always believed the Buck Project could host multiple mineralized zones beneath its nearly ubiquitous overburden cover. We're rapidly advancing targeting to be able to test that hypothesis."
Results of soil geochemistry from samples previously collected across the property, as well as real-time results from a portable X-Ray fluorescence (pXRF) spectrometer of current soil samples (see news release dated August 31, 2022), have been compiled (Figure 1). Soil samples are being analyzed for gold and silver at the lab (assays pending), as the pXRF analyser does not suitably test the concentration of these precious metals.
Disseminated gold mineralization at Buck Main is associated with sphalerite (zinc) and locally arsenopyrite (arsenic), therefore a geochemical association between gold and zinc-arsenic is observed. These elements are considered geochemical pathfinders for Buck-style gold mineralization. A high zinc-arsenic-in-soil anomaly is coincident with the footprint of the mineralization at Buck Main (Figure 1).
The footprint of the high zinc and arsenic soil geochemical anomaly at the IRK target (see news release dated August 31, 2022) has been expanded and now covers a 16 km2 area (Figure 1). A grid-based IP survey is commencing with the primary aim of investigating the lateral and vertical extent of potential zones of sulfide-related mineralization. The IP geophysical survey at the IRK target will be completed on northeast oriented lines spaced 200 metres apart.
The Eagle Eye target consists of a high-resistivity anomaly from a versatile time domain electromagnetic (VTEM) geophysical survey (see news release dated August 11, 2022), locally coincident with high-chargeability anomaly defined by a historic IP geophysical survey (Lloyd, 2004). The Eagle Eye target also consists of anomalous zinc and arsenic geochemistry that increases to the east where previous IP coverage is lacking. Multiple east-west oriented IP lines are planned to cover the extent of the resistivity-high and to verify and expand historic chargeability anomaly.
Additional multi-element anomalies were also defined. The Cabin anomaly requires additional sampling to define the extent of the northwest trending high-arsenic zinc signature (Figure 1). The field crew is currently focused on infill soil sample lines at Cabin. The Tower anomaly, located between IRK and Eagle Eye, also requires tighter-spaced infill samples to fully evaluate the size and shape of the high-zinc arsenic anomaly.
Quality Control / Quality Assurance
Once completely dry, approximately 30 grams of semi-homogenised soil material were removed from the kraft sample bag and placed in a paper filter and labelled with the sample ID. The sample was placed in a portable Reflex XRF workstation, analysed using an Olympus Vanta VMR portable XRF through the filter and operated with the Reflex XRF software. The samples were analysed in Geochem40 mode for 60 seconds utilizing 10-15 kV and 40 kV beam element filters at 30 seconds each. Two certified standards (OREAS 25a and OREAS 131b), as well as quartz blank material, were analyzed at the beginning of each analytical session as well as systematically throughout the session at a frequency of every 10 to 20 analyses. Concentrations of copper, zinc and arsenic were primarily monitored and overall performed well.
Robert D. Willis, P. Eng., Senior Advisor to Sun Summit, is a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and approved the scientific and technical disclosure contained in this news release.
Lloyd, J., 2004, A geophysical report on an induced polarization survey on the Buck Property, Omineca Mining Division, near Houston, British Columbia, Assessment Report 27458, Assessment Report Indexing System, www.aris.empr.gov.bc.ca, 45 p.
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 Sun Summit
Sun Summit Minerals is an exploration company focused on expanding its gold, silver, and zinc discovery at its flagship 100% controlled Buck Project located in north-central British Columbia near the town of Houston.
The Company is exploring multiple high priority targets through systematic exploration campaigns. The project benefits from excellent developed infrastructure and year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.
Sun Summit is committed to environmental and social responsibility with a focus on accountable development to generate positive outcomes for all stakeholders.
Further details are available at www.sunsummitminerals.com.
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Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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