NEW DRILL INTERCEPT HIGHLIGHTS INCLUDE 24.85
METRES GRADING 3.13% COPPER, 4.8 G/T GOLD AND 93.45 G/T SILVER OR
7.12% COPPER EQUIVALENT
VANCOUVER, Oct. 3, 2019 /CNW/ - Sun Metals Corp. ("Sun
Metals" or the "Company") (TSXV: SUNM) reports multiple
intercepts from drilling in the 421 zone at its 100% owned Stardust
project in northcentral British
Columbia. New drill results from these six holes extend the
known plunge length of the 421 zone to over 160 metres and
indicates the zone continues to be open in both directions.
High-grade copper-gold mineralization has been intercepted in
several holes as highlighted below. Drilling continues at
Stardust and preparatory work for the winter program is well
underway.
![Sun Metals PNG image (CNW Group/Sun Metals) Sun Metals PNG image (CNW Group/Sun Metals)](https://mma.prnewswire.com/media/1005595/Sun_Metals_Sun_Metals_Extends_421_Zone_to_Over_160_Metres_at_Sta.jpg)
Step-out drilling along the projected strike and plunge of
the 421 zone continues to show the lateral continuity of the 421
zone mineralized system, which the Company believes was generated
from a buried multiphase porphyry copper style intrusive to the
north. A pervasive skarn alteration envelope surrounds the
copper-gold mineralization, indicating that current drilling is on
the correct trajectory to find the more proximal part of the
system. New drill result highlights include:
- Hole DDH19-SD-436D intersected 45.55 metres(1)
grading 1.44% copper, 1.18 grams per tonne (g/t) gold and 27.0 g/t
silver for 2.44% copper equivalent (CuEq)(2)
- Hole DDH19-SD-436D intersected 24.85 metres(1)
grading 3.13% copper, 4.85 g/t gold and 93.5 g/t silver for 7.12%
CuEq(2)
- Hole DDH19-SD-440M intersected 15.90 metres(1)
grading 2.38% copper, 2.68 g/t gold and 66.6 g/t silver for 4.71%
CuEq(2)
Ian Neill, Sun Metals Vice
President Exploration said, "The alteration encountered in 2019
drilling to date confirms our belief that we are still distant from
the heart of the system, which indicates to us there is
significant, highly prospective exploration ground to the north
with the opportunity to discover more of the high-grade copper-gold
mineralization that we are seeing in the 421 zone. We also expect
to see increased consistency in grades from hole to hole as we
track the mineralizing fluids to their source."
The 421 zone is an extensive skarn alteration package, within
which lies the high-grade copper-gold mineralization. Steve Robertson, President & CEO states,
"Our ongoing exploration program continues to define the shape of
the 421 zone as an ovoid cylinder plunging to the north northwest.
It is currently observed to extend more than 160 metres along
plunge and is open to both the north and south. One of the most
promising things about working toward the mineralization source is
that we expect the sulphide replacement of the skarn alteration to
be more complete closer to the high energy heat source,
theoretically resulting in even higher grade material. This is what
drives us to continue our focus on the trend to the north. We are
excited that our team will continue exploration over the coming
winter months as we learn more about this impressive high-grade
system."
Table 1: New Significant Intervals
Drill Hole
Name
|
From (m)
|
To (m)
|
Length
(m)(1)
|
Copper (%)
|
Gold (g/t)
|
Silver
(g/t)
|
Zinc (%)
|
Copper
Equivalent
(%)(2)
|
Gold
Equivalent
(g/t) (2)
|
DDH19-SD-436D
|
502.60
|
548.15
|
45.55
|
1.44
|
1.18
|
27.0
|
0.04
|
2.44
|
3.86
|
incl.
|
542.30
|
548.15
|
5.85
|
5.13
|
3.78
|
91.0
|
0.18
|
8.39
|
13.27
|
DDH19-SD-436D
|
598.40
|
623.25
|
24.85
|
3.13
|
4.85
|
93.5
|
0.28
|
7.12
|
11.27
|
incl.
|
609.20
|
618.20
|
9.00
|
6.04
|
9.13
|
183.7
|
0.60
|
13.67
|
21.62
|
DDH19-SD-438D
|
564.40
|
572.90
|
8.50
|
3.09
|
3.47
|
72.0
|
0.08
|
5.95
|
9.41
|
DDH19-SD-438D
|
594.00
|
597.05
|
3.05
|
1.08
|
1.26
|
21.8
|
0.02
|
2.07
|
3.28
|
DDH19-SD-439D
|
637.00
|
657.50
|
20.50
|
1.17
|
0.96
|
20.4
|
0.01
|
1.96
|
3.11
|
DDH19-SD-439D
|
714.50
|
724.45
|
9.95
|
0.78
|
0.70
|
97.1
|
0.03
|
2.19
|
3.47
|
DDH19-SD-440M
|
582.00
|
591.00
|
9.00
|
1.26
|
1.91
|
32.8
|
0.01
|
2.76
|
4.37
|
DDH19-SD-440M
|
708.90
|
724.80
|
15.90
|
2.38
|
2.68
|
66.6
|
0.01
|
4.71
|
7.45
|
DDH19-SD-441M
|
609.25
|
650.80
|
41.55
|
1.20
|
1.37
|
24.0
|
0.03
|
2.29
|
3.62
|
incl.
|
609.25
|
620.30
|
11.05
|
3.35
|
3.88
|
60.7
|
0.14
|
6.39
|
10.11
|
incl.
|
639.50
|
650.80
|
11.30
|
3.94
|
4.58
|
79.2
|
0.11
|
7.58
|
11.98
|
DDH19-SD-442D
|
669.75
|
720.7
|
50.95
|
0.64
|
0.67
|
10.6
|
0.01
|
1.16
|
1.83
|
incl.
|
669.75
|
693.2
|
23.45
|
0.92
|
0.92
|
14.4
|
0.01
|
1.63
|
2.58
|
(1) True widths of
the reported mineralized intervals have not been
determined
|
(2) Assumptions used
in USD for the copper equivalent calculation were metal prices of
$3.00/lb. Copper, $1,300/oz Gold, $18/oz Silver, $1.25/lb.
Zinc and recovery is assumed to be 100% as no metallurgical test
data is available. The following equation was used to calculate
copper
equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.6319) + (Silver
(g/t) x 0.0087) + (Zinc (%) x 0.4167). The following equation was
used to calculate
gold equivalence: AuEq = (Copper (%) x 1.5824 + Gold (g/t) +
(Silver (g/t) x 0.01385) + (Zinc (%) x 0.6593).
|
Diamond drilling at Stardust was initiated with two drills in
late May. To date in 2019, the company has completed 8,860
metres in 19 drill holes. Drill holes DDH19-SD-448 and DDH19-SD-449
are in progress. The primary focus of the program continues to be
exploration and exposing the extent of the mineralized zone
identified in discovery drill hole DDH18-SD-421 (see press release
dated November 14, 2018 at
https://sunmetals.ca/news/2018/) which returned a 100.00 metre
interval of 2.51% copper, 3.03 g/t gold, and 52.5 g/t silver for a
5.05% CuEq or a 8.00 g/t AuEq(1,2).
The Company announced in September plans to add a third drill to
the program and an all-season camp to facilitate continuation of
the exploration program through the winter months. With
current drill holes expected to have a final depth of over 900
metres, some of the drill holes can take up to three weeks to
complete. The addition of a third drill this month will allow the
Company to accelerate exploration drilling, including testing the
continuation of the 421 zone up plunge to the south.
Directional diamond drilling has been used in all the 2019 drill
holes at Stardust which has increased the accuracy of drilling
step-outs. The directional drilling incorporates the use of pilot
holes which has resulted in a 34% reduction in metres drilled to
this point in the program. Drill core is also retrieved using
an oriented core system which aids in gathering of structural
information critical to the interpretation of the genesis of the
421 zone.
Graphics & Table
Updated graphics including a plan map of the 2019 drill program
(Figure 1), cross sections 2075N, 2100N, 2125N, 2150N, 2200N and a
421 zone vertical section (Figures 2-7), and a full table of
reported results to date from the 2019 drill program (Drill Results
Table) are available on the Company website:
Figure
1: https://sunmetals.ca/site/assets/files/3743/sunm_planmap_2019drilling.pdf
Figure 2:
https://sunmetals.ca/site/assets/files/3743/sunm_cs_2075n_oct2019.pdf
Figure 3:
https://sunmetals.ca/site/assets/files/3743/sunm_cs_2100n_oct2019.pdf
Figure 4:
https://sunmetals.ca/site/assets/files/3743/sunm_cs_2125n_oct2019.pdf
Figure 5:
https://sunmetals.ca/site/assets/files/3743/sunm_cs_2150n_oct2019.pdf
Figure 6:
https://sunmetals.ca/site/assets/files/3743/sunm_cs_2200n_oct2019.pdf
Figure 7:
https://sunmetals.ca/site/assets/files/3743/sunm_421_zone_vertical_section_oct2019.pdf
Drill Results
Table: https://sunmetals.ca/site/assets/files/3739/master_drill_results_table.pdf
Quality Assurance / Quality Control
Drilling completed on the project in 2019 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 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 (ICPES/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,
verified 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–
Standards of Disclosure for Mineral Projects.
On Behalf of the Board of Directors of
SUN METALS CORP.
Steve Robertson
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 100% owned flagship, high-grade
Stardust Project located in northcentral British Columbia, Canada. Stardust is a
high-grade polymetallic Carbonate Replacement Deposit with a rich
history. Sun Metals also owns the Lorraine copper-gold
project (joint-ventured with Teck Resources Limited), and the OK
copper-molybdenum project.
The Canyon Creek copper-gold skarn zone at Stardust was the
subject of a 2018, NI 43-101 resource estimate included in a
technical report titled "Stardust Project, NI 43-101 Technical
Report" dated January 8, 2018.
In that report, 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)
|
Indicated
|
985,000
|
1.34
|
0.62
|
1.59
|
36.8
|
2.92
|
Inferred
|
1,985,000
|
1.24
|
0.14
|
1.72
|
30.5
|
2.65
|
(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 in this table 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.
For further information please visit Sun Metals' website at
www.Sunmetals.ca.
Cautionary Note Regarding Forward-Looking Statements
All statements in this news release, other than statements of
historical fact, are "forward-looking information" with respect to
Sun Metals within the meaning of applicable securities laws,
including, but not limited to statements with respect to those that
address mineralization at the Stardust project; the 2019 drill
program and winter camp; the potential quantity and/or grade of
minerals; anticipated exploration results; the growth potential of
the Stardust project; planned mining methods and mineral
processing; break-even cost for the Stardust project; British Columbia as a reliable jurisdiction
for mining; proposed timing of exploration and development plans;
potential conversion of inferred resources to measured and
indicated resources; potential extension and expansion of mineral
resources; and the focus of the Company in the coming months.
Forward-looking information is often, but not always, identified by
the use of words such as "seeks", "anticipates", "plans",
"continues", "expects", "projects", "predicts", "potential",
"targets", "intends", "believes", "potential", "budgets",
"schedules", "estimates", "forecasts" and similar expressions
(including the negative of such expressions), or describes a
"goal", or variation of such words and phrases or state that
certain actions, events or results "may", "should", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold and other metal
process; currency exchange rates and interest rates;
favourable operating conditions; political
stability; obtaining governmental approvals and financing on time;
obtaining renewals of existing licences and permits and obtaining
required licences and permits; labour stability; stability in
market conditions; availability of equipment; accuracy of mineral
resources; successful resolution of disputes and anticipated costs
and expenditures. Management believes these estimates and
assumptions are reasonable. In addition, many assumptions are
based on factors and events that are not within the control of Sun
Metals and there is no assurance they will prove to be
correct.
Such forward-looking information, involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to the
speculative nature of the Company's business; the Company's
formative stage of development; the Company's financial position;
possible variations in mineralization; conclusions of future
economic evaluations; business integration risks; changes in
project parameters as plans continue to be refined; current
economic conditions; future prices of commodities; fluctuations in
the securities market; fluctuations in currency markets; change in
national and local government, legislation, taxation, controls,
regulation and political or economic development; inability to
obtain adequate insurance to cover risks and hazards; possible
variations in grade or recovery rates; the costs and timing of the
development of new deposits; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; the timing and success of exploration activities
generally; delays in permitting; possible claims against the
Company; the timing of future economic studies; labour and employee
disputes and other risks of the mining industry; delays in
obtaining governmental approvals, financing or the completion of
exploration; relationships with and claims by local communities and
First Nations; and title to properties as well as those factors
discussed in the Annual Information Form of the Company dated
May 28, 2019 in the section entitled
"Risk Factors", under Sun Metals' SEDAR profile at
www.sedar.com.
Although Sun Metals has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Sun Metals disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise unless required by law. Accordingly, readers
should not place undue reliance on forward-looking
information.
SOURCE Sun Metals