STOCK TITAN

Sun Summit Drills 122.5 metres of 2.1 g/t Gold Including 20.0 metres of 10.0 g/t Gold at the Creek Zone, JD Project, Toodoggone District, B.C.

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) announces significant drill results from its JD Project in the Toodoggone District, B.C. Hole CZ-24-004 intersected 122.53 metres of 2.11 g/t gold, including 20.0 metres of 10.01 g/t gold and 1.52 metres of 121.0 g/t gold. These results demonstrate both high-grade and bulk-tonnage gold mineralization potential in the Creek Zone.

The drill program consisted of 2,537 metres across 12 holes, with results from the remaining eight holes pending. The company aims to confirm high-grade gold presence, define a structural model, and investigate disseminated mineralization. Additional results from soil and rock geochemical surveys, as well as geophysical data, are also expected.

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) annuncia risultati di perforazione significativi dal suo Progetto JD nel Distretto Toodoggone, B.C. Il foro CZ-24-004 ha intercettato 122,53 metri di 2,11 g/t d'oro, inclusi 20,0 metri di 10,01 g/t d'oro e 1,52 metri di 121,0 g/t d'oro. Questi risultati dimostrano sia il potenziale di mineralizzazione d'oro ad alta grado che quello di tonnellate bulk nella Zona Creek.

Il programma di perforazione ha consistito in 2.537 metri attraverso 12 fori, con i risultati degli otto fori rimanenti in attesa. L'azienda mira a confermare la presenza di oro ad alta grado, definire un modello strutturale e indagare sulla mineralizzazione disseminata. Sono attesi ulteriori risultati da indagini geochimiche su suolo e roccia, oltre ai dati geofisici.

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) anuncia resultados de perforación significativos de su Proyecto JD en el Distrito Toodoggone, B.C. El pozo CZ-24-004 interceptó 122,53 metros de 2,11 g/t de oro, incluyendo 20,0 metros de 10,01 g/t de oro y 1,52 metros de 121,0 g/t de oro. Estos resultados demuestran tanto el potencial de mineralización de oro de alta ley como el de tonelaje a granel en la Zona Creek.

El programa de perforación consistió en 2.537 metros en 12 pozos, con resultados de los otros ocho pozos pendientes. La empresa tiene como objetivo confirmar la presencia de oro de alta ley, definir un modelo estructural e investigar la mineralización diseminada. También se esperan resultados adicionales de encuestas geoquímicas de suelo y roca, así como datos geofísicos.

선 서미트 미네랄스 Corp. (TSXV: SMN) (OTCQB: SMREF)는 브리티시 컬럼비아주 투도곤 지역의 JD 프로젝트에서 중요한 시추 결과를 발표했습니다. CZ-24-004 구멍에서는 2.11 g/t의 금을 가진 122.53미터가 발견되었으며, 이는 10.01 g/t 금을 가진 20.0미터121.0 g/t 금을 가진 1.52미터를 포함합니다. 이러한 결과는 Creek Zone에서 고품질 및 대량 금 광물화 가능성을 보여줍니다.

시추 프로그램은 12개 구멍에 걸친 2,537미터로 구성되었으며, 나머지 8개 구멍의 결과는 대기 중입니다. 회사는 고품질 금의 존재를 확인하고 구조적 모델을 정의하며 분산된 광물화를 조사하는 것을 목표로 합니다. 토양과 암석의 지구화학 조사 및 지구물리학 데이터에서 추가 결과도 기대되고 있습니다.

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) annonce des résultats de forage significatifs de son projet JD dans le district de Toodoggone, en Colombie-Britannique. Le trou CZ-24-004 a intersecté 122,53 mètres de 2,11 g/t d'or, y compris 20,0 mètres de 10,01 g/t d'or et 1,52 mètres de 121,0 g/t d'or. Ces résultats démontrent à la fois le potentiel de minéralisation à haute teneur et de tonnage en vrac dans la zone Creek.

Le programme de forage a consisté en 2,537 mètres à travers 12 trous, avec les résultats des huit autres trous en attente. L'entreprise vise à confirmer la présence d'or de haute teneur, à définir un modèle structurel et à enquêter sur la minéralisation disséminée. D'autres résultats d'enquêtes géochimiques sur le sol et la roche, ainsi que des données géophysiques, sont également attendus.

Die Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) gibt signifikante Bohrergebnisse aus ihrem JD-Projekt im Toodoggone-Distrikt, B.C. bekannt. Die Bohrung CZ-24-004 durchschnitt 122,53 Meter mit 2,11 g/t Gold, einschließlich 20,0 Meter mit 10,01 g/t Gold und 1,52 Meter mit 121,0 g/t Gold. Diese Ergebnisse zeigen sowohl das Potenzial für hochgradige als auch für bulk-tonnage Goldmineralisierung in der Creek-Zone.

Das Bohrprogramm umfasste 2.537 Meter in 12 Löchern, wobei die Ergebnisse der verbleibenden acht Löcher noch ausstehen. Das Unternehmen hat das Ziel, die Anwesenheit von hochgradigem Gold zu bestätigen, ein strukturelles Modell zu definieren und die disseminierte Mineralisierung zu untersuchen. Weitere Ergebnisse aus Bodens und Gestein geochemischen Untersuchungen sowie aus geophysikalischen Daten werden ebenfalls erwartet.

Positive
  • Hole CZ-24-004 intersected 122.53 metres of 2.11 g/t gold, including 20.0 metres of 10.01 g/t gold
  • High-grade interval of 4.04 metres of 46.78 g/t gold, including 1.52 metres of 121.0 g/t gold
  • Results demonstrate potential for both high-grade and bulk-tonnage style gold mineralization
  • Drill program expanded to 2,537 metres across 12 holes, indicating increased exploration activity
Negative
  • Assay results from eight drill holes (1,674 metres) are still pending
  • Results from soil and rock geochemical surveys and geophysical data are not yet available

Vancouver, British Columbia--(Newsfile Corp. - October 2, 2024) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) announces drill results from its fourth hole drilled during its inaugural exploration program at the JD Project in the Toodoggone District, north-central B.C.

Hole CZ-24-004 returned one of highest-grade intervals drilled to date at the Creek Zone, 121.0 g/t gold over 1.52 metres, as well as intersected consistent gold mineralization over 122.53 metres from surface. These results continue to demonstrate the presence of both high-grade and bulk-tonnage gold mineralization in this under-explored target area.

Highlights:

  • Hole CZ-24-004 intersected a broad zone of near-surface, continuous gold mineralization punctuated with high-grade veins:

    • 122.53 metres of 2.11 g/t gold

    • including 20.0 metres of 10.01 g/t gold

    • and including 4.04 meters of 46.78 g/t gold

    • and including 1.52 metres over 121.0 g/t gold

  • Assay results build on previously announced drill results from the Creek Zone: These results further demonstrate the presence of significant high-grade gold mineralization as well as near-surface disseminated mineralization previously unrecognized due to selective sampling in historical drill programs.

  • Additional assay results pending: Assays from the remaining eight drill holes (1,674 metres) are pending.

  • Final results pending from numerous project-wide surveys: Results from soil and rock geochemical surveys together with final data products from an Induced Polarization (IP) geophysical survey and reprocessing of historic geophysical data are pending.

Sharyn Alexander, President of Sun Summit Minerals, stated: "The 2024 drill program continues to deliver significant results at the Creek Zone. Hole CZ-24-004, our fourth hole of this year's program, further confirms the potential for both high-grade and bulk-tonnage style gold mineralization and supports our initial thesis that selective sampling by previous operators missed the bulk-tonnage gold potential. The high-grade vein-hosted interval of 4.0 metres of 46.8 g/t gold, including 1.52 metres of 121.0 g/t gold, is significant and deserves further drill testing to better understand trends and structural controls. We look forward to sharing additional results from our summer program as they become available."

Table 1. Assay Results 1,2

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Ag (g/t)
CZ-24-0043.00125.53122.532.110.3
including53.00111.0058.004.000.5
including66.0066.700.7316.701.1
including91.00111.0020.0010.010.9
including106.96111.004.0446.783.1
including108.00109.531.53121.007.3
and146.46159.0012.540.320.1

1. Intervals are downhole core lengths. True widths are unknown.  
2. Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6142/225364_473bdb1d1469bb2a_001.jpg

Figure 1. Plan map showing drill collar locations with selected highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/225364_473bdb1d1469bb2a_001full.jpg

 

Drill Hole CZ-24-004

Hole CZ-24-004 was collared from the same pad as CZ-24-003 (95.50 metres of 0.70 g/t gold including 34.0 metres of 1.32 g/t gold and including 18.0 g/t gold over 0.50 metres, see September 19th, 2024 news release) but drilled towards the southwest. The high-grade interval of 4.04 metres of 46.78 g/t gold in CZ-24-004 extends the important zone of high-grade gold mineralization, central to the Creek Zone, approximately 40 meters along strike to the north. Results from this hole, highlighted by 122.53 metres of 2.11 g/t gold, also further demonstrates the presence of previously unrecognised, near-surface bulk-tonnage style disseminated gold as most historical holes drilled at the Creek Zone were not continuously sampled. The lack of systematic sampling in the late-1990s resulted in a failure to recognise the bulk-tonnage potential of the target area (Figure 2).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6142/225364_473bdb1d1469bb2a_002.jpg

Figure 2. Oblique view through Creek Zone drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/225364_473bdb1d1469bb2a_002full.jpg

 

Similar to the first three reported drill holes (see September 19th, 2024 news release), CZ-24-004 intersected a bedded sequence of volcaniclastic and intermediate volcanic rocks interpreted to be a sequence within the McClair Member of the Early Jurassic Toodoggone formation. Higher-grade gold mineralization is hosted in epithermal-related and locally banded quartz-carbonate veins, veinlets and breccias with strong potassium feldspar alteration halos. Vein-hosted sulfides include pyrite, sphalerite, ± chalcopyrite and galena. Bulk-tonnage mineralization is associated with selectively pervasive epidote-chlorite-pyrite alteration, proximal to vein-associated potassic alteration.

Drill Program

The first five holes of the 2024 exploration program were drilled on the western extent of the 4.5 kilometre-long, target-rich Finn to Creek Corridor. Results from holes CZ-24-001, 002, and 003 were released on September 19th, 2024, results from hole CZ-24-004 are released here, and results from hole CZ-24-005 are pending. Overall, the drill program consisted of 2,537 metres of diamond drilling across 12 holes (see September 5th, 2024 news release).

At the Creek Zone, drilling was primarily designed to build on results from past programs where previous drill holes were selectively sampled, vein orientation data was lacking, and disseminated mineralization was not considered. The primary objective of the drilling at the Creek Zone was to; 1) confirm the presence of high-grade gold mineralization, 2) collect systematic downhole data to define a structural model to inform future drill programs and, 3) investigate the presence of disseminated mineralization by continuously sampling from collar to bottom of hole.

Assays from the remaining drill holes, as well as surface sampling results, are pending and expected to be released as they are received and reviewed.

Table 2. Drill Collar Locations

Hole IDEastingNorthingElevation (m)AzimuthDipDepth (m)
CZ-24-00460825663683181511239.7-55193

 Coordinates are in UTM NAD83 Zone 9N

Quality Assurance and Quality Control

All drill core sample assay and analytical results have been monitored through the Company's quality assurance and quality control program (QA/QC). Drill core was sawn in half at Sun Summit's dedicated and secure core logging and processing facility at the Lawyers exploration camp owned by Thesis Gold. Only Sun Summit and assigned APEX Geoscience field staff were allowed access to the core.

Half of the drill core was sampled and shipped by a bonded courier in sealed and secured woven polyester bags to the ALS Global preparation facilities in Langley, BC or Winnipeg, Manitoba. Core samples were prepared using ALS standard preparation procedure PREP-31A which involves crushing the sample to 70% less than 2mm, followed by a riffle split of 250g, and then a pulverised split to better than 85% passing 75 microns.

Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.

Drill core samples were analyzed for 48 elements by ICP-MS on a 0.25-gram aliquot using a four-acid digestion (method ME-MS61). This method is considered a "ultra trace element" analytical method with low detection limits on key pathfinder elements such as Ag, As, Sb, Se and Tl.

Gold was analyzed by fire assay on a 30-gram aliquot with an AES finish (inductively coupled plasma atomic emission spectroscopy - method Au-ICP21). Samples that returned >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30-gram aliquot.

Overlimit samples (e.g. Ag, Cu, Pb & Zn) were re-analyzed using an ore-grade, four-acid digestion and ICP-AES finish. Overlimits for key elements: samples with >100 ppm silver, >10,000 ppm Cu, >10,000 ppm Pb and >10,000 ppm Zn. In addition to ALS Global laboratory QA/QC protocols, Sun Summit implements a rigorous internal QA/QC program that includes the insertion of duplicates, certified reference materials (standards prepared by an independent lab) and blanks into the sample stream.

National Instrument 43-101 Disclosure

This news release has been reviewed and approved by Sun Summit's Vice President Exploration, Ken MacDonald, P. Geo., a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has not been able to verify the historical exploration data disclosed, including sampling, analytical and test data, underlying the technical information in this news release since such data is historical and the original drill core is not readily available. Technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.

Community Engagement

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 Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.

About the JD Project

The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold's Lawyers and Ranch projects, TDG Gold's Baker-Shasta projects, Centerra's Gold's Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.

The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.

The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.

About Sun Summit

Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on expansion and discovery of district scale gold and copper assets in British Columbia. The Company's diverse portfolio includes the JD Project in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

Link to Figures

Figure 1: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/10/Fig-1-Creek-Drilling-Oct-2-NR.jpg

Figure 2: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/10/Fig-2-Creek-Section-Oct-2-NR.jpg

On behalf of the board of directors
Brian Lock

For further information, contact:
Sharyn Alexander
President
info@sunsummitminerals.com

Matthew Benedetto
Simone Capital
mbenedetto@simonecapital.ca

Tel. 416-817-1226

Forward Looking Information

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. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, 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. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. 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. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225364

FAQ

What were the key drill results from Sun Summit's JD Project?

The key drill result was from hole CZ-24-004, which intersected 122.53 metres of 2.11 g/t gold, including 20.0 metres of 10.01 g/t gold and 1.52 metres of 121.0 g/t gold at the Creek Zone of the JD Project.

How many drill holes were completed in Sun Summit's 2024 exploration program at the JD Project?

Sun Summit completed a total of 12 drill holes, totaling 2,537 metres, in its 2024 exploration program at the JD Project.

What is the significance of the drill results for Sun Summit Minerals (SMREF)?

The drill results demonstrate the potential for both high-grade and bulk-tonnage style gold mineralization at the Creek Zone, which was previously unrecognized due to selective sampling in historical drill programs.

When can investors expect additional results from Sun Summit's JD Project exploration?

Assay results from the remaining eight drill holes and results from soil and rock geochemical surveys, as well as geophysical data, are pending and expected to be released as they are received and reviewed.

SUN SUMMIT MINERALS CORP

OTC:SMREF

SMREF Rankings

SMREF Latest News

SMREF Stock Data

13.12M
62.36M
8.65%
Other Industrial Metals & Mining
Basic Materials
Link
United States of America
Vancouver