Vancouver, B.C. – Sun Metals Corp. (“Sun Metals” or the “Company”) (TSXV: SUNM) announces final results from the 2018 diamond drill program at its Stardust project in northcentral British Columbia. The Company believes the 2018 program was successful in identifying a major mineralized pathway leading toward the heart of a high-grade system. The 2018 program was successful in identifying target areas to focus on in 2019 that are prospective for adding tonnage to the existing resource at Stardust.
Significant new results reported in this release include:
- DDH18-SD-413, which targeted an extension to the existing resource model and returned 5.50 metres (m) grading 1.72% copper, 0.93 grams per tonne (g/t) gold and 29.1 g/t silver.
- DDH18-SD-414, which targeted a geophysical and soil anomaly and returned high-grade manto style mineralization over a narrow intersection near surface. The hole returned a 0.60 m interval grading 0.59 g/t gold, 382.8 g/t silver and 21.22% zinc.
- Along strike from DDH18-SD-414, DDH-18-SD-415 intersected two intervals of manto style mineralization, the upper intersection returning 2.20 m grading 5.25 g/t gold, 16.4 g/t silver and 3.79% zinc, with the lower intersection returning 4.60 m grading 4.17 g/t gold, 34.5 g/t silver and 1.60% zinc.
- DDH18-SD-418 targeted a geophysical anomaly beneath the shallow Number 4B manto zone and intersected a number of manto style mineralized zones, the most significant being 3.10 m grading 5.05 g/t gold, 55.3 g/t silver and 5.23% zinc.
- Two holes targeted the open skarn extension of the Number 5 lens within the historic resource. Hole DDH18-SD-424 returned 1.50 m grading 1.67% copper, 6.70 g/t gold and 27.0 g/t silver, with a narrower downhole intersection returning 0.60 m grading 10.00% copper, 5.17 g/t gold and 265.3 g/t silver. Hole DDH18-SD-427 returned 0.60 m grading 1.12% copper, 1.96 g/t gold and 16.1 g/t silver, with a downhole intersection returning 1.70 m grading 1.01% copper, 1.63 g/t gold and 11.8 g/t silver.
Each of these intercepts has added to the Sun Metals team’s knowledge of the mineralizing events at Stardust. The intersection in drill hole DDH18-SD-421, (see press release at https://sunmetals.ca/news/2018/) which returned a 100.00 m interval of 2.51% copper, 3.03 g/t gold, and 52.5 g/t silver for a 4.99% Copper Equivalent (CuEq) has provided a robust target for further exploration, and Sun Metals believes that result confirms a clear path forward targeting carbonate stratigraphy proximal to the Canyon Creek fault on the east side of the Glover stock. No holes were drilled during the 2018 program to follow up on the results of drill hole DDH-18-SD-421, which will be the primary focus of the 2019 drilling campaign.
Select significant results from drill holes not previously reported are presented in the table below.
Select significant results, 2018 Stardust drill program
|DDH18-SD-413||232.50||238.00||5.50||1.72||0.93||29.1||0.01||Canyon Creek Skarn|
|DDH18-SD-416||281.70||282.70||1.00||1.70||1.25||27.2||0.01||Canyon Creek Skarn|
(1) True widths of the reported mineralized intervals are not known
Graphics & Table
A plan map of the 22-hole 2018 drill program (Figure 1), a full table of results from the 2018 drill program (Table 1) and a full table of collar locations (Table 2) are available on the Company website:
Sun Metals is working toward completion of a $5,162,500 flow-through financing (see press release at https://sunmetals.ca/news/2018/) that will fund an expected minimum 15,000 metre drilling campaign at Stardust in 2019. The financing is expected to close on December 20, 2018.
Quality Assurance / Quality Control
Drilling completed on the project in 2018 was supervised by on-site Sun Metals personnel who collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Bureau Veritas (“BV”) in Vancouver BC for analysis. BV’s quality control system complies with global certifications for Quality ISO9001:2008. Core samples were analyzed using a combination of BV’s AQ270 process for low level concentrations (ICP-ES/MS aqua regia) and the MA270 process for higher level concentrations (ICP-ES/MS 4 acid digestion). Gold assaying was completed with FA330, a 30-gram fire assay with ICP-ES finish. Base metal overlimits were finalized with titration and a silica wash was used between high grade samples to ensure no sample carry over.
Technical aspects of this news release have been reviewed and approved by Ian Neill P.Geo., Vice President Exploration of Sun Metals, who is a qualified person as defined by National Instrument 43-101.
For more information, please contact Susie Bell, Investor Relations for Sun Metals at email@example.com, 604-697-4953, or Steve Robertson, President and CEO of Sun Metals, at firstname.lastname@example.org, (604) 697-4952.
On Behalf of the Board of Directors of
SUN METALS CORP.
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Sun Metals
Sun Metals is advancing its flagship, high-grade Stardust Project located in northcentral British Columbia, Canada. Stardust is a high-grade polymetallic Carbonate Replacement Deposit with a rich history. Pursuant to an option agreement between Sun Metals and Lorraine Copper, a TSX Venture Exchange listed issuer, Sun Metals has an option to earn a 100% interest in the Stardust Project, located in central British Columbia.
The Canyon Creek copper-gold skarn zone at Stardust was the subject of a 2018, 43-101 compliant resource estimate published by the Company in January 2018. GeoSim Services Inc. provided the following estimate.
Stardust Project - Canyon Creek zone Mineral Resource Estimate(3):
|Resource Category||Tonnes||Copper %||Zinc %||Gold g/t||Silver g/t||% Cu Eq|
(3)The cut-off grade used in the resource estimate was 1.5% copper equivalent (Cu Eq). Metal price assumptions for the Cu Eq calculation were $3.00/lb Copper, $1.25/lb Zinc, $1,300/oz Gold and $18/oz Silver. Adjustment factors to account for differences in relative metallurgical recoveries of the constituents will depend upon completion of definitive metallurgical testing. The following equation was used to calculate copper equivalence: Cu Eq = Copper + (Zinc x 0.4167) + (Gold x 0.6319) + (Silver x 0.0087). A cut-off grade of 1.5% Cu Eq represents an in-situ metal value of approximately $100/tonne which is believed to represent a reasonable break-even cost for underground mining and processing. These are not mineral reserves and no work has been completed that demonstrates economic viability at the Project.
Sun Metals believes B.C. is a reliable jurisdiction with excellent exposure to capital markets, a deep pool of exploration professionals, a wealth of supporting services, and exceptional infrastructure with direct access to Pacific markets.
A corporate presentation is available on Sun Metals’ website at www.Sunmetals.ca.
Cautionary Note Regarding Forward-Looking Statements
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.