Sun Summit Minerals (TSXV: SMN; OTCQB: SMREF) has reported results of its inaugural mineral resource estimate (MRE) for the company’s Buck project in central British Columbia. Sun Summit Minerals is a mineral exploration company focused on gold and copper assets. The Buck project is situated in a historic mining district near Houston, B.C. Besides Buck, Sun Summit also holds the JD project in the Toodoggone region of north-central B.C.
The mining company provided the following highlights: Indicated mineral resources at Buck main are estimated to include 19,100 gold equivalent ounces1 (oz gold equivalent) (18,300 oz gold and 158,000 oz silver) at a grade of 0.519 g/t gold equivalent1 (g/t gold equivalent) (0.496 g/t gold, 4.3 g/t silver) contained within 1.15 million tons (Mt) ; Inferred mineral resources at Buck main are estimated to include 820,400 oz gold equivalent1 (775,500 oz gold and 8,435,000 oz silver) at a grade of 0.489 g/t gold equivalent1 (0.462 g/t gold, 5.0 g/t silver) contained within 52.2 Mt.
The company also reported that the near-surface mineral resource at Buck main is constrained within an optimized open pit shell using a 0.25 g/t gold equivalent cutoff, ensuring reasonable prospects for economic extraction. Moreover, company officials stated that there is an additional upside at Buck main as the deposit remains open for expansion in most directions and at depth. Finally, Sun Sumit reports that effective discovery with average drill costs of CAD $18 per ounce of gold equivalent in the MRE.
Niel Marotta, Sun Summit CEO, commented: “This initial resource is a major milestone for Sun Summit and demonstrates the significant gold-silver potential of the Buck Main deposit. Sound and aggressive infill drilling programs over the past three seasons have successfully achieved our goal of demonstrating the continuity of the resource in the central, high-grade area of the deposit. The deposit remains largely open at depth and along strike and future drilling will examine these areas for further expansion. The scale, grade, and potential economic viability of the Buck main deposit provides a strong foundation for further expansion and reinforces the company’s strategy of advancing this district-scale gold-silver asset in British Columbia.”
Further details are available at www.SunSummitMinerals.com.
