Sun Summit Minerals (TSX.V: SMN) plans to complete over 5,000 metres of drilling, near the discovery hole BK20-012 - 17 metres of 5.86 grams per tonne (g/t) gold including 3 metres of 23.05 g/t gold and 7.5 metres of 10.19 g/t gold. The company will focus on expanding zones of high-grade gold mineralization.
Per the company’s Press Release dated Feb 9th/21 – Highlights include:
- Sun Summit has commenced a follow-up drill program to target high-grade gold mineralization;
- Relogging of the high-grade gold intercepts from discovery hole BK20-012 (17 metres of 5.86 g/t gold including 3 metres of 23.05 g/t gold and 7.5 metres of 10.19 g/t gold; see news release dated Jan. 5, 2021) identified zones of fine visible gold associated with discrete epithermal-related quartz and sulphide veins.
- Select samples from hole BK20-012 are being analyzed for metallic screen fire assay to better characterize the grade of the visible gold-bearing zones.
Bob Willis, Sun Summit's Chief Executive Officer, states: "We are excited to commence this round of drilling at our Buck property. The identification of visible gold throughout our discovery hole is significant and confirms our assay data. Running these select samples, as well as samples from other mineralized zones, for metallic screen fire assay will further investigate the grade of these intercepts. This data will be compared to our fire assay data to better inform our sampling and analytical protocols going forward if visible gold is identified again."
The current drill program (see news release dated Jan. 19, 2021) has three primary objectives:
- Target high-grade gold mineralization peripheral to discovery hole BK20-012;
- Test chargeability anomalies interpreted to be associated with sulphide and potential gold mineralization;
- Investigate the strike extent of sulphide-cemented, breccia-hosted, near or at surface, bulk-tonnage gold mineralization.
Drill crews are now on site and the drill is currently investigating the extent of high-grade gold mineralization identified in drill hole BK20-012.
A detailed re-evaluation of key intercepts from BK20-012 revealed the presence of visible gold associated with quartz plus pyrite plus sphalerite veinlets. Select samples from the hole are being run at the ALS Global analytical facility in North Vancouver for metallic screen fire assay to better define the nature and grade of gold mineralization. The metallic screen method utilizes a larger sample and a tailored preparation procedure to systematically capture native gold, if present. These methods yield a more robust analytical and statistical estimate of gold grade. Results from this metallic screen study will be compared with the traditional fire assay data to define a statistical based work flow for sampling and analyzing intervals with high-grade gold mineralization.
As of today, Sun Summit Minerals (TSX.V: SMN) has 51.23M shares outstanding, and is currently trading at $0.43, giving it a market cap of $22M.
*DISCLAIMER: SUN SUMMIT MINERALS IS A MARKETING CLIENT