Sun Summit (formerly San Marco) completes 10 holes at Buck
Sun Summit Minerals Corp. (TSXV: SMN) (“Sun Summit” or the “Company”) announces the completion of 10 diamond drill holes at its 100% controlled Buck gold and silver property in north-central British Columbia.
Highlights
- Completion of 10 HQ diamond drill holes totalling 4,200 metres. All samples are in the lab and assays are pending.
- All holes tested the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Horseshoe Zone.
- Continuous zones of disseminated, vein-hosted, and breccia-hosted sulfide mineralization were observed in all drill holes.
- A 2 by 2.5 kilometre 3D Induced Polarization (IP) survey was completed over the known extent of the breccia complex as well as over areas considered prospective for mineralization below overburden.
Bob Willis, Sun Summit’s CEO, stated: “It is very encouraging to see the style and extent of mineralization identified in our drilling. We have tested only a small fraction of this breccia system and look forward to analyzing the results as soon as the assays are received and interpreted. The fact that we can drill year round gives our shareholders exposure to continued news flow throughout the winter.”
Drilling
Phase 2 drilling is focussed on testing the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Buck breccia complex (see SMN news release dated August 6, 2020). Current drill collars cover a footprint of approximately 550 by 250 metres and holes were drilled to a maximum depth of 500 metres (see Figure 1). New geological observations have been used to characterize multiple breccia-hosted mineralization styles comprised of sulfide cemented magmatic-hydrothermal breccias, mineralized clast-bearing volcanic breccias and hydrothermal breccias with cross cutting sulfide-bearing veins. Pervasive and selectively pervasive hydrothermal alteration comprised of silica + sericite ± carbonate ± clay is widespread and associated with locally strong sulfide mineralization. Most holes cut long intervals of varying proportions of disseminated, clotted and vein-hosted sphalerite, pyrite, marcasite ± chalcopyrite and galena. Based on results from Phase 1 drilling (see SMN news release dated May 12, 2020), these alteration and sulfide mineral assemblages are considered prospective for associated gold and silver mineralization.
Figure 1. Current Phase 2 Drill Hole Locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6142/67501_fd1d4fa9c405aac6_001full.jpg
Induced Polarization Survey
The recently completed 3D IP survey has outlined new areas of strong chargeability response both laterally from and below the current drilling footprint. These new data together with the recently released soil geochemistry (see SMN news release dated September 28, 2020) suggests that additional targeting is warranted north of the Horseshoe Zone in the untested Bob North Zone. New coincident geophysical features (e.g., chargeability and resistivity) at >300 metres depth suggests that additional deeper drilling is also warranted to investigate the potential buried heat source related to widespread, near-surface mineralization.
Exploration Model
The Company is now awaiting assays from the recently completed 10 drill holes. These data will be compiled and modelled together with the new 3D IP geophysical data, ground magnetic geophysical data, soil geochemical data and surface and subsurface lithological and hydrothermal alteration data to build and refine a comprehensive exploration model. This new model will be used to guide additional drill hole targeting.
Metals Investment Forum
Sun Summit will be participating in the Virtual Metals Investment Forum (MIF) on Thursday, November 5, 2020. Hosted by newsletter writers, the forum showcases each writer’s Top Pick investment opportunities in exploration and mining.
To register for the upcoming virtual MIF conference, please visit the event’s website:
Global Mining Symposium
Sun Summit will be participating in the Global Mining Symposium on Thursday, November 12, 2020. The virtual mining and investment conference, presented by The Northern Miner, attracts experts from mining, exploration, and finance.
To register for the upcoming virtual Global Mining Symposium, please visit the event’s website:
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
Sun Summit Minerals Corp. (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.
Further details are available at www.sunsummitminerals.com
Link to Figure
Figure 1:
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
info@sunsummitminerals.com
Tel. 778-588-9606
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng., 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.
- Published in Mining, News Home, San Marco Resources
Medicine Springs Option Agreement Conditions Complete
Northern Lights Resources Corp. (CSE:NLR)(“Northern Lights” or “NLR”) is pleased to announce that all subsequent conditions to the Medicine Springs Option and Joint Venture Agreement announced with Reyna Silver Corp. (“Reyna Silver”) on October 5, 2020, including legal due diligence, have been completed and the agreement is now binding.
The Medicine Springs Project comprises 1,189 Ha of Federal mineral claims located in Elko County, Nevada and has the potential to host high-grade silver-zinc-lead Carbonate Replacement Deposit (“CRD”) mineralization.
The geological team from Northern Lights and Reyna Silver have been at the Medicine Springs project site for the past several days reviewing the project geology and near term exploration plans.
Dr. Peter Megaw, Technical Advisor to Reyna commented “Medicine Springs ticks the most important boxes we look for in CRD exploration including location on a large regional structure that hosts significant CRDs, situation at the top of a thick section of structurally-prepared potentially favorable carbonate host rocks, evidence of high silver grades, and widespread, multi-stage alteration. Some of the historic dump and rock chip samples run well over our 400 g/t (12 oz/t) silver threshold and it is quite likely that similar grades were diluted by the Reverse Circulation drilling used historically in the district. We will be drilling core to get a true picture of the clearly structurally-controlled mineralization as we trace it towards its source.”
The Northern Lights and Reyna Silver intend to update investors about the near term exploration plans for Medicine Springs in the coming weeks.
Reyna Silver is committed to spending a minimum of US$2.4 million in exploration expenditures and paying Northern Lights a US$1 million cash payment to earn an 80% ownership in the Medicine Springs Project with Northern Lights retaining a 20% interest. Northern Lights is not required to make any cash contribution to project expenditures until Reyna Silver has spent a minimum of US$4m.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
- Published in Mining, News Home, Northern Lights Resources
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