VANCOUVER, June 3, 2019
VANCOUVER, June 3, 2019 /CNW/ - Sun Metals Corp. ("Sun Metals" or the "Company") (TSXV: SUNM) announces that two diamond drill rigs are now operating at its 100% owned Stardust project in northcentral British Columbia. The 2019 program will consist of diamond drilling, along with surface electromagnetic (EM) and borehole electromagnetic geophysical surveys (BHEM), and continued geological studies with a budget of $5.4 million.
The primary focus of the diamond drill program is to explore around the mineralization identified in drill hole DDH18-SD-421, (see press release at https://sunmetals.ca/news/2018/) which returned a 100.00 metre interval of 2.51% copper, 3.03 grams per tonne (g/t) gold, and 52.5 g/t silver for a 4.99% copper equivalent(1,2). Initial diamond drilling will test areas on section 2175 with DDH18-SD-421 (See Figure 1: https://sunmetals.ca/site/assets/files/3731/figure_1.jpg). Concurrently, the second diamond drill will test an EM conductor associated with this zone that was identified through a BHEM survey completed at the end of the 2018 program. Initial targeting of this EM conductor is approximately 50 metres south from DDH-18-SD-421 on section 2125 (See Figure 1: https://sunmetals.ca/site/assets/files/3731/figure_1.jpg).
Directional diamond drilling will be used in the 2019 drilling campaign at Stardust to increase the precision and accuracy of drilling step-outs. Oriented core will also be used to assist Sun Metals' geologists gather information on the structural characteristics of the area.
In conjunction with the diamond drilling, large loop ground EM surveys will be conducted along strike of the phyllite/carbonate contact in the Canyon Creek skarn zone to determine if the EM response observed in the BHEM survey can be detected and if other conductors are present at this contact.
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.
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 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, 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(1):
% Cu Eq
(1)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.
(2) True widths of the reported mineralized intervals are not known
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
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.
SOURCE Sun Metals
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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.Copyright CNW Group 2019