March 24, 2021
Sun Summit Minerals Inc. (TSXV:SMN, Not Rated, David A. Talbot) provided an update on its Phase 3 exploration drilling program, currently underway at its 100%-controlled, Buck project in British Columbia. Since the commencement of the program in February, designed to test zones of high-grade mineralization near BK20-012 (discovery hole 12; see our previous note) and bulk-tonnage Au mineralization intersected in numerous holes in 2020, the company has completed ten diamond drill holes (~4,000m). Five out of the ten holes have intersected zones of visible gold mineralization in a new area between the Horseshoe and Trench zones, demonstrating the high-grade potential of the structurally complex, hydrothermal system at Buck, with assays from all holes pending. Drilling continues on the project, focusing on the newly interpreted high-grade mineralized corridor between the Horseshoe and Trench zones. Furthermore, Sun Summit notes that a metallic screen fire assay analysis undertaken on select samples from discovery hole 12, reported an increase in grade in one sample from 49.6 g/t Au to 141 g/t Au. The result suggests that fire assay methods may be underestimating the amount of Au in the deposit, however the presence of visible gold suggests the deposit might be quite nuggety, highlighting the need to ensure accuracy of future assay results in preparation for potential mineral resource estimates. Read more
