Drilling at two new exploration targets, IRK and
Highlights
Ongoing exploration drill program: Initial drilling at IRK and
Epithermal to porphyry-related mineralization at IRK: Strong alteration and veining, indicative of an epithermal to porphyry system, is present in drill core at the IRK target, with portable X-Ray Fluorescence Spectroscopy (pXRF) analysis indicating elevated silver, copper, lead and zinc values.
Assay and geochemical analyses underway: Core samples from completed drill holes have been sent to the lab for assay and geochemical analyses with additional core shipments to be submitted on a regular basis as drilling continues.
Upcoming field exploration aimed at discovery: Step-out drilling is currently being planned at the Buck Main zone to further test the strong expansion potential for gold-silver-zinc mineralization. A significant field program is also being planned at numerous under-explored targets across the
IRK Target
Several drill targets were outlined at the IRK target, located approximately 11 kilometres south of the Buck Main zone. The target area is characterized by anomalous silver, zinc, lead and copper in soil samples together with rock samples with up to 1.7% zinc, 95 g/t silver, and 2.4% copper associated with numerous N-S trending high-resistivity and high-chargeability lineaments, interpreted to potentially represent structurally-controlled epithermal-related vein mineralization.
Drilling in the northern part of the IRK target intersected moderate to strong silica-sericite-clay altered volcanic rocks cut by a suite of intrusive dykes. Drill holes collared into strong veining which have been classified into three vein styles based on cross-cutting relationships; an earlier quartz-pyrite +/- sphalerite vein set; pyrite stringers with pink (iron-carbonate-sericite) alteration haloes and a later quartz-iron-carbonate vein set that cuts all lithologies. A red volcaniclastic breccia was intersected near the bottom of the holes.
Three porphyritic intrusive phases have been recognized in the northern IRK area. Host volcanic rocks contain stronger veining than the porphyritic dykes, which suggests that the dykes may be later than the main veining event. An earlier porphyry phase, responsible for the widespread veining, may therefore also be present and represents a prospective target.
Drill holes targeting the southern IRK area encountered strong clay-carbonate altered volcanic rocks, with abundant clay-carbonate veinlets with fine grained pyrite and grey/black sulfides. These rocks overlie the same red matrix volcaniclastic rocks as the northern IRK area. One drillhole intersected a lower fine-grained diorite dyke host to quartz-carbonate-sulfide veinlets. Veining within the diorite displays fine-grained pyrite rimmed with fine black sulfide/sulfosalt. Portable XRF analysis of these sulfides indicate elevated silver, copper, lead and zinc values.
The style of alteration and veining at the IRK target is interpreted to represent a broad epithermal to porphyry-related system. Future exploration drilling could target the source of the broad and locally intense distal-style hydrothermal alteration.
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About the
The project is host to the Buck Main intermediate-sulfidation epithermal-related gold-silver-zinc system. Most of the mineralization drilled to date at Buck Main consists of long, continuous zones of disseminated and breccia-hosted, bulk tonnage-style gold-silver-zinc. Vein-hosted, high-grade mineralization has also been intersected near the center of
Exploration at the
About Sun Summit
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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. Factors that could cause such differences, 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. 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.
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