Welcome to our dedicated page for Sun Peak Metals news (Ticker: SUNPF), a resource for investors and traders seeking the latest updates and insights on Sun Peak Metals stock.
Sun Peak Metals Corp. (SUNPF) is engaged in exploring the district-scale Shire VMS Project in northern Ethiopia. The project comprises six exploration licenses covering 1,450 square kilometers in the Arabian Nubian Shield, with a focus on copper-gold VMS discoveries. Recent achievements include the resumption of drilling activities at the Shire Project, aiming to test multiple copper-gold VMS targets. Sun Peak has actively engaged with stakeholders and government entities to ensure a safe return to exploration work. The company's current cash position is approximately CDN$6.4 million, allowing for fully funded drill programs.
Sun Peak Metals (TSXV:PEAK, OTCQB:SUNPF) has discovered several new gold-rich VMS gossans at its Shire Project in Ethiopia. Key findings include:
- Gabat VMS gossan samples yielded up to 29.2 g/t gold and 118.0 g/t silver, with 6 samples returning over 5 g/t Au and 3 over 20 g/t Au
- Dermi VMS Target samples returned up to 7.32 g/t Au and 109.8 g/t Ag
- Ground Time-Domain Electro-Magnetic (TDEM) surveys are ongoing at the Meli Trend and Anguda North Target
The company has identified multiple promising VMS targets through detailed geological mapping and rock sampling, including the 1.5km-long Gabat VMS Target and several targets in the Terer, Nefasit, and Meli License areas. Drilling will commence after TDEM results interpretation.
Sun Peak Metals (TSXV:PEAK)(OTCQB:SUNPF) has announced plans for its 2025 drilling program at the Shire Copper-Gold VMS Project in Ethiopia. The company will commence drilling in Q1 2025, focusing on the Meli Trend and Anguda North Target. Previous drilling highlights include significant intercepts at Meli (37.23m @ 2.45 g/t Au, 29.4 g/t Ag, 2.4% Cu), Keel (17.85m @ 3.95 g/t Au, 45.5g/t Ag, 1.4% Cu), and Argo (6.57m @ 1.34 g/t Au, 54.3g/t Ag, 6.3% Cu).
The exploration program includes detailed Ground Deep Time Domain Electromagnetic surveys scheduled for January to refine drill locations. The project is located in a proven VMS belt with multiple high-priority copper-gold targets, with all previously drilled targets intercepting VMS style mineralization.
Sun Peak Metals (TSXV: PEAK) (OTCQB: SUNPF) announces its participation in two major investment conferences. The company will attend the 50th Annual New Orleans Investment Conference from November 20-23, where VP Project Development Scott Ansell will present on the flagship Shire Project on November 22. Additionally, CEO Greg Davis will present at the Swiss Mining Institute in Zurich on November 20.
The presentations will focus on the company's Shire Project, located in the Arabian Nubian Shield mineral belt, including exploration targets and plans for Q4 2024 and Q1 2025. Investors can visit Sun Peak at booth 316 at the New Orleans conference.
Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) has reported promising results from its 2024 drill program at the Shire Project in Ethiopia. The company completed 24 diamond drill holes totaling 5,236 meters at the Terer and Hamlo VMS Targets. Key highlights include:
- Terer Target: Drill hole TR-002 intersected 18.46 meters of 1.34% copper-equivalent, including 9.80 meters of 2.13% CuEq.
- Hamlo Target: Defined a new VMS mineralized zone with extensive hydrothermal alteration, trending over 1 km along strike.
- The results confirm a significant VMS system extending over 10 km, validating Sun Peak's geological model and exploration methods.
Sun Peak is fully funded with over $3.3 million to continue drilling this fall after the rainy season ends in October.
Sun Peak Metals has completed its 2024 initial drill program at the Shire Project in Ethiopia. The company drilled 24 diamond drill holes on the Terer and Hamlo VMS targets, totaling 5,236 meters. Core samples have been submitted, with the first batch of results expected in July. The Terer target saw 12 holes drilled (2,660m), and Hamlo had another 12 holes (2,576m). Exploration efforts will continue through the rainy season, with drilling set to resume in Q4 2024. The Anguda VMS System, part of a larger VMS cluster, remains the focus. Quality control samples were managed by ALS Laboratory in Ethiopia and Ireland.
Sun Peak Metals (TSXV:PEAK, OTCQB:SUNPF) has announced favorable assay results from its 2020 drill program, suspended due to the Tigray regional conflict in Ethiopia. The program involved 11 holes at the Meli Main Target, 2 at the Meli Far-West, and 10 at the Anguda Southern Limb. Key findings include ML-013 intercepting 8.89 meters averaging 2.22% copper, 2.76 g/t gold, and 31.8 g/t silver, and MW-001 intercepting 15.84 meters averaging 1.90 g/t gold. These results indicate high-grade mineralization and extend the known VMS zones. The current drill program, announced in April 2024, aims to explore further within the Anguda VMS System, with initial assay results expected by June 2024.
CEO Greg Davis expressed satisfaction with the retrieval of intact drill cores and the confirmation of large VMS systems. VP of Exploration David Daoud noted the significant copper, gold, silver, and zinc content, highlighting the potential for large VMS deposits similar to those in the Arabian-Nubian shield.
Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) announced the grant of 2,150,000 incentive stock options to its directors, officers, employees, and consultants. The options are exercisable over a five-year period at an exercise price of $0.26, equivalent to the closing share price on February 21, 2023. This grant is part of the Company’s shareholder-approved stock option plan, aimed at aligning the interests of stakeholders and incentivizing performance growth.
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