Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to report drill results and the discovery of additional near-surface zones of bulk-tonnage style gold-silver-zinc mineralization from its fall 2021 exploration program on its Buck Property, central B.C.

Highlights

• Discovery of new zone of near-surface, breccia-hosted, gold-silver-zinc mineralization along strike to the northwest (e.g., 1.85 g/t gold equivalent (AuEq)2 over 25 metres including 8.78 g/t AuEq over 3.9 metres; BK21-060).
• Discovery of additional bulk-tonnage style gold-silver-zinc mineralization in step-out holes to the west of previous drilling (e.g., 0.61 g/t AuEq over 155.8 metres including 1.37 g/t AuEq over 16.3 metres; BK21-059).
• Confirmation of continuity of gold-silver-zinc mineralization in the previously untested area between the historic Horseshoe and Trench zones (e.g., 1.11 g/t AuEq over 51.0 metres including 1.81 g/t AuEq over 13.6 metres; BK21-048).
• These new and open areas will be tested in the current drill program; crews have mobilized to site and the drill is turning.
• Recalculation of gold equivalent (AuEq) including zinc has yielded significant increases in values which has the potential to be a significant economic contributor to the overall metal value of the property (see news release February 8, 2022). Examples of significant recalculated3 intervals (Table 2) are:

Sharyn Alexander, Sun Summit’s President, stated: “The results from our remaining holes from the recent drill program are highly encouraging and are in line with what we expected to see from the fall 2021 program. This phase of drilling was designed on a grid pattern with consistent orientations to model different mineralized zones, and particularly, to tie together structural and lithological trends. Modelling is ongoing but the drilling succeeded in building a more coherent picture of the Buck Main mineralized system. All holes intersected mineralized zones and reinforces our belief that the system is much larger and has more continuity and consistency than was previously recognized. Two new areas of mineralization have been discovered in previously untested areas to the west and north-west, which enhances the exploration upside at Buck Main. We are very optimistic about the potential for higher grade intercepts in the current drill phase which will target higher grade zones and continue to expand the footprint of this complex hydrothermal system.”

Figure 1. Map showing drill collar locations with selected highlights

Drill Program

Drill Program Highlights

• Confirmed strong continuity and consistency of disseminated gold-silver-zinc mineralization in the area between the historic Horseshoe and Trench Zones (Figure 1, Figure 2):
• BK21-048
• 1.11 g/t AuEq (0.54 g/t Au, 5.85 g/t Ag, 0.78% Zn) over 51.0 metres
• including 1.81 g/t AuEq (1.18 g/t Au, 7.10 g/t Ag, 0.83% Zn) over 13.6 metres
• BK21-050
• 1.03 g/t AuEq (0.75 g/t Au, 3.71 g/t Ag, 0.36 % Zn) over 32.1 metres
• including 20.5 g/t AuEq (16.3 g/t Au, 62.0 g/t Ag, 5.3% Zn) over 0.6 metres
• BK21-058
• 1.01 g/t AuEq (0.78 g/t Au, 3.19 g/t Ag, 0.30% Zn) over 18.0 metres
• Discovered new zone of near-surface, breccia-hosted, gold-silver-zinc mineralization along strike to the northwest in a previously untested area (Figure 1, Figure 2):
• BK21-060
• 1.85 g/t AuEq (0.92 g/t Au, 12.33 g/t Ag, 1.2% Zn) over 25 metres
• including 8.78 g/t AuEq (4.81 g/t Au, 26.03 g/t Ag, 5.6% Zn) over 3.9 metres
• including 12.11 g/t AuEq (8.69 g/t Au, 32.6 g/t Ag, 4.7% Zn) over 1.0 metre

• Discovered bulk tonnage-style, gold-silver-zinc mineralization in step-out holes to the west of previous drilling in untested ground, which opens the exploration potential significantly to the west (Figure 1, Figure 2):
• BK21-059
• 0.61 g/t AuEq (0.36 g/t Au, 7.23 g/t Ag, 0.25% Zn) over 155.8 metres
• including 1.37 g/t AuEq (0.71 g/t Au, 17.5 g/t Ag, 0.67 % Zn) over 16.3 metres
• and 1.05 g/t AuEq (0.89 g/t Au, 2.95 g/t Ag, and 0.16% Zn) over 17.0 metres, from surface
• BK21-065
• 0.55 g/t AuEq (0.39 g/t Au, 6.66 g/t Ag, 0.11% Zn) over 146.9 metres
• including 1.10 g/t AuEq (0.62 g/t Au, 13.7 g/t Ag, 0.48% Zn) over 13.7 metres
• and 0.84 g/t AuEq (0.65 g/t Au, 10.8 g/t Ag, 0.08% Zn) over 32.9 metres

Notes:

1. Intervals are downhole core lengths. True widths are unknown.
2. Calculations are uncut and length-weighted using a 0.10 g/t gold cutoff.
3. AuEq assumes metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation AuEq(g/t) = ((Au(g/t)*$Au/oz*0.032151)+(Ag(g/t)*$Ag/oz*0.032151)+(Zn%*$Zn/lbs*22.0462))/($Au/oz*0.032151).

Figure 2. Stacked section showing selected highlights

Sun Summit completed a 32 hole diamond drill program for 10,327 metres in late 2021, with initial results of the first eight holes reported on January 5, 2022. All holes were drilled along northeast-southwest oriented sections with holes drilled with orientations to the northeast at varying inclination. The program of grid-based drilling allowed the systematic generation of cross-sections across the Buck Main target, and was successful at building the geological and structural model to further define the potential of the system for gold, silver and zinc mineralization. Modelling is ongoing and is being refined as we receive new data from the current drill program..

Results from the reported 24 holes across the western side of Buck Main confirm the presence of near-surface, disseminated gold-silver-zinc mineralization and local vein-hosted high-grade gold and silver mineralization. The focus going forward will be to continue to investigate the limits of the hydrothermal system while testing new structural targets and areas peripheral to Buck Main, with the goal of defining higher-grade zones.

A series of holes tested the northwest-trending structural contact between sedimentary and volcaniclastic rocks with dacitic lapilli tuffs and breccias (Figure 2). The holes were designed to expand the footprint of breccia-hosted gold-silver-zinc mineralization associated with pyrite + sphalerite cemented, clast-rich hydrothermal breccias (e.g., 46 metres of 1.59 g/t AuEq* in BK20-006, 40 metres of 1.84 g/t AuEq* in BK20-012, and 45 metres of 2.36 g/t AuEq* in BK21-017; Table 2).

Hole BK21-060 was collared approximately 180 metres northwest of BK21-017 and intersected 1.85 g/t AuEq* (0.92 g/t Au, 12.33 g/t Ag, 1.2% Zn) over 25 metres including 8.78 g/t AuEq* (4.81 g/t Au, 26.03 g/t Ag, 5.6% Zn) over 3.9 metres associated with sphalerite-cemented hydrothermal breccias.

Hole BK21-060 was drilled in an area with limited outcrop and no historic drilling and was designed based on visual observations and updated modelling from preceding holes (e.g., BK21-048 and 058). This zone of strong gold-silver-zinc mineralization is open in all directions and represents a priority target for further testing in the current drill program.

Holes BK21-059 and 065 tested the westernmost limit of the system and were drilled from the same section (Figure 2). The holes were set up 150 metres apart and collared in andesitic volcanic rocks and sedimentary rocks which transitioned to strongly altered and mineralized dacitic lapilli tuffs. Both holes intersected broad zones of gold-silver-zinc mineralization hosted in lapilli tuffs (e.g., 0.61 g/t AuEq* over 155.8 metres, including 1.37 g/t AuEq* over 16.3 metres and 1.05 g/t AuEq* over 17.0 metres, from surface in BK21-059; and 0.55 g/t AuEq* over 146.9 metres, including 1.10 g/t AuEq* over 13.7 metres and 0.84 g/t AuEq* over 32.9 metres in BK21-065). These volcaniclastic breccias are lithologically similar to dacitic lapilli tuffs found over 400 metres to the east in the historic Horseshoe zone, host to long intervals of gold-silver-zinc mineralization (e.g., 409 metres of 0.87 g/t AuEq* in BK21-033). The presence of these rocks in the westernmost holes represents a positive development in the exploration potential of the Buck Main target and opens the area to the west for expansion.

* Intervals are downhole core lengths. True widths are unknown. Intervals recalculated using zinc concentration and the previously stated formula. Gold and silver values were previously reported on January 5, 2021 and May 11, 2021

Twenty four holes are reported with selected highlights shown in Table 1.

Table 1. Assay Results

Zinc Mineralization

Widespread sphalerite (zinc-sulfide) mineralization was intersected in all drill holes across the property. Preliminary metallurgical test work suggests zinc is highly recoverable using conventional methods (see news release January 8, 2022) and may contribute favourably to future economic studies. As a result, gold equivalent (AuEq) values were recalculated for selected holes including zinc, which significantly increased previously reported grades (Table 2).

Table 2. Select Gold Equivalent Recalculations with Zinc

Table 3. Drill Collar Locations

Disclaimer: Sun Summit is a paid marketing client and we own stock options

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