Sun Summit Files NI 43-101 Technical Report for the Inaugural Mineral Resource Estimate on the Buck Project, Central B.C.
Sun Summit Minerals (OTCQB: SMREF) has filed a NI 43-101 Technical Report for its Buck Main deposit in Central B.C., revealing significant mineral resources. The report highlights:
The Inferred Mineral Resources include 820,400 oz gold equivalent (AuEq) at a grade of 0.489 g/t AuEq, contained within 52.2 Mt. The Indicated Mineral Resources comprise 19,100 oz AuEq at a grade of 0.519 g/t AuEq within 1.15 Mt.
The near-surface deposit is constrained within an optimized open-pit shell using a 0.25 g/t AuEq cutoff. The resource estimate is based on 42,440 metres of drilling in 161 holes. The company achieved efficient discovery metrics with average drill costs of CAD $18 per ounce of AuEq. The deposit remains open for expansion in most directions and at depth.
Sun Summit Minerals (OTCQB: SMREF) ha presentato un Rapporto Tecnico NI 43-101 per il suo deposito Buck Main nel centro della Columbia Britannica, rivelando risorse minerarie significative. Il rapporto evidenzia:
Le Risorse Minerarie Indeterminate includono 820.400 once equivalenti d'oro (AuEq) con un grado di 0,489 g/t AuEq, contenute in 52,2 Mt. Le Risorse Minerarie Indicate comprendono 19.100 once AuEq con un grado di 0,519 g/t AuEq all'interno di 1,15 Mt.
Il deposito vicino alla superficie è limitato all'interno di una shell di open-pit ottimizzata utilizzando un cutoff di 0,25 g/t AuEq. La stima delle risorse si basa su 42.440 metri di perforazione in 161 fori. L'azienda ha raggiunto metriche di scoperta efficienti con costi medi di perforazione di CAD $18 per oncia di AuEq. Il deposito rimane aperto per l'espansione nella maggior parte delle direzioni e in profondità.
Sun Summit Minerals (OTCQB: SMREF) ha presentado un Informe Técnico NI 43-101 para su depósito Buck Main en el centro de la Columbia Británica, revelando recursos minerales significativos. El informe destaca:
Los Recursos Minerales Inferidos incluyen 820,400 onzas equivalentes de oro (AuEq) con un grado de 0.489 g/t AuEq, contenidos en 52.2 Mt. Los Recursos Minerales Indicados comprenden 19,100 onzas AuEq con un grado de 0.519 g/t AuEq dentro de 1.15 Mt.
El depósito cercano a la superficie está limitado dentro de una cáscara de minería a cielo abierto optimizada utilizando un corte de 0.25 g/t AuEq. La estimación de recursos se basa en 42,440 metros de perforación en 161 pozos. La empresa logró métricas de descubrimiento eficientes con costos de perforación promedio de CAD $18 por onza de AuEq. El depósito permanece abierto para expansión en la mayoría de las direcciones y en profundidad.
선 서밋 미네랄스 (OTCQB: SMREF)는 중앙 브리티시컬럼비아의 벅 메인 광상에 대한 NI 43-101 기술 보고서를 제출하여 상당한 광물 자원을 공개했습니다. 보고서는 다음과 같은 내용을 강조합니다:
추정 광물 자원은 820,400 온스의 금 등가물(AuEq)을 포함하며, AuEq 등급은 0.489 g/t입니다. 이는 52.2 Mt에 포함되어 있습니다. 지시 광물 자원은 19,100 온스 AuEq를 포함하며, AuEq 등급은 0.519 g/t로 1.15 Mt 내에 있습니다.
표면 근처의 이 광상은 0.25 g/t AuEq 컷오프를 사용하여 최적화된 오픈핏 쉘 내에 제한되어 있습니다. 자원 추정치는 161개의 구멍에서 42,440 미터의 드릴링을 기반으로 합니다. 이 회사는 AuEq 온스당 평균 CAD $18의 드릴링 비용으로 효율적인 발견 지표를 달성했습니다. 이 광상은 대부분의 방향과 깊이에서 확장을 위해 열려 있습니다.
Sun Summit Minerals (OTCQB: SMREF) a déposé un Rapport Technique NI 43-101 pour son dépôt Buck Main dans le centre de la Colombie-Britannique, révélant des ressources minérales significatives. Le rapport met en avant :
Les Ressources Minérales Indiquées comprennent 820 400 onces équivalentes d'or (AuEq) avec une teneur de 0,489 g/t AuEq, contenues dans 52,2 Mt. Les Ressources Minérales Indiquées comprennent 19 100 onces AuEq avec une teneur de 0,519 g/t AuEq dans 1,15 Mt.
Le dépôt proche de la surface est limité à l'intérieur d'une coque de mine à ciel ouvert optimisée utilisant un cut-off de 0,25 g/t AuEq. L'estimation des ressources est basée sur 42 440 mètres de forage dans 161 trous. L'entreprise a atteint des métriques de découverte efficaces avec des coûts de forage moyens de 18 CAD $ par once d'AuEq. Le dépôt reste ouvert à l'expansion dans la plupart des directions et en profondeur.
Sun Summit Minerals (OTCQB: SMREF) hat einen NI 43-101 technischen Bericht für sein Buck Main-Vorkommen im zentralen British Columbia eingereicht, der signifikante Mineralressourcen offenbart. Der Bericht hebt hervor:
Die geschätzten Mineralressourcen umfassen 820.400 Unzen Goldäquivalent (AuEq) mit einem Gehalt von 0,489 g/t AuEq, enthalten in 52,2 Mt. Die angezeigten Mineralressourcen umfassen 19.100 Unzen AuEq mit einem Gehalt von 0,519 g/t AuEq innerhalb von 1,15 Mt.
Das nahe der Oberfläche gelegene Vorkommen ist innerhalb einer optimierten Tagebaugrube mit einem Cutoff von 0,25 g/t AuEq begrenzt. Die Ressourcenschätzung basiert auf 42.440 Metern Bohrungen in 161 Löchern. Das Unternehmen erzielte effiziente Entdeckungsmetriken mit durchschnittlichen Bohrkosten von CAD $18 pro Unze AuEq. Das Vorkommen bleibt in den meisten Richtungen und in der Tiefe offen für Erweiterungen.
- Low discovery cost of CAD $18 per AuEq ounce indicates efficient exploration
- Deposit remains open for expansion in multiple directions
- High drilling success rate with 94% of total drilling length being assayed
- Road-accessible deposit location, 12 km south of Houston, BC
- Low indicated resource of only 19,100 oz AuEq compared to inferred resource
- Relatively low gold grades (under 0.5 g/t Au) in both indicated and inferred resources
- Modest metallurgical recovery rates: 79% for Gold and 38% for Silver
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to announce that it has filed an independent technical report (the "Technical Report") with a mineral resource estimate (MRE) as described more fully in the Technical Report and the Company's news release dated February 26, 2025.
The Technical Report titled "2025 Mineral Resource Estimate for the Buck Main Deposit NI 43-101 Technical Report", dated April 2, 2025 (effective date of January 28, 2025), has been prepared by Moose Mountain Technical Services, and is available on the Company's Website (https://sunsummitminerals.com/investors/presentations-downloads/) and on SEDAR+ (www.sedarplus.ca) under Sun Summit's issuer profile.
Highlights:
Inferred Mineral Resources at Buck Main are estimated to include 820,400 oz AuEq1 (775,500 oz gold and 8,435,000 oz silver) at a grade of 0.489 g/t AuEq1 (0.462 g/t Au, 5.0 g/t Ag) contained within 52.2 Mt.
Indicated Mineral Resources at Buck Main are estimated to include 19,100 gold equivalent ounces1 (oz AuEq) (18,300 oz gold and 158,000 oz silver) at a grade of 0.519 g/t gold equivalent1 (g/t AuEq) (0.496 g/t Au, 4.3 g/t Ag) contained within 1.15 million tonnes (Mt).
The near-surface Mineral Resource at Buck Main is constrained within an optimized open-pit shell using a 0.25 g/t AuEq cutoff, ensuring reasonable prospects for economic extraction.
Additional upside at Buck Main as the deposit remains open for expansion in most directions and at depth.
Effective discovery with average drill costs of CAD
$18 per ounce of AuEq included in the MRE.
Notes:
1. Gold Equivalent (AuEq) grade is based on AuEq = Au + 0.0053*Ag (see notes to Table 1 below)
The Buck MRE is centered on the Buck Main deposit, 12 km south of Houston, BC. The road accessible deposit comprises a broad, 800 metre striking zone of intermediate-sulfidation epithermal-related gold-silver mineralization hosted in intermediate to felsic volcanics and intrusions. The MRE is based on 42,440 metres of drilling in 161 holes, of which 34,386 metres in 98 holes were completed by Sun Summit between 2020 and 2023 (Figures 1 and 2, Table 3).
Buck Main Mineral Resource Estimate
Table 1. Summary of Indicated and Inferred Mineral Resources for the Buck Main deposit
| Class | AuEq Cutoff | In Situ Tonnage and Grade | AuEq Metal | Au Metal | Ag Metal | ||||
| Tonnage | AuEq | Au | Ag | NSR | |||||
| (gpt) | (ktonnes) | (gpt) | (gpt) | (gpt) | ($CDN) | (kOz) | (kOz) | (kOz) | |
| Indicated | 0.25 | 1,148 | 0.519 | 0.496 | 4.3 | 40.40 | 19.1 | 18.3 | 158 |
| Inferred | 0.25 | 52,224 | 0.489 | 0.462 | 5.0 | 38.04 | 820.4 | 775.5 | 8,435 |
Notes to the 2025 Resource Table:
- Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines, as required National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")
- The base case Mineral Resource has been confined by "reasonable prospects of eventual economic extraction" shape using the following assumptions:
- Metal prices of US
$225 0/oz Gold, US$26 /oz Silver - Metallurgical recovery of
79% Gold and38% Silver - Payable metal of
95% Silver,99% Gold in dore - Forex of 0.72 $US:$CDN
- Offsite costs (transport, smelter treatment and refining) of CDN
$8.50 /oz Gold and CDN$0.25 /oz Silver. - Processing Costs of CDN
$12 /tonne milled and General & Administrative (G&A) costs of CDN$ 2.50 / tonne milled - Mining cost of CDN
$2.56 / tonne for mineralized material and CDN$2.50 /tonne for waste - 45-degree pit slopes
- The
120% price case pit shell is used for the confining shape
- Metal prices of US
- The resulting net smelter return (NSR) for the purpose of the AuEq calculation = Au*CDN
$98.60 /g*79% recovery rate + Ag*CDN$1.08 /g*38% recovery rate - The resulting AuEq = Au + 0.0053*Ag
- Numbers may not add due to rounding
- Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the estimated mineral resources will be converted into mineral reserves.
The Mineral Resources for the Buck Main deposit have been estimated using a 0.25 g/t AuEq cutoff determined using assumptions listed in the footnotes of Table 1. These assumptions satisfy the requirements of reasonable prospects for eventual economic extraction. Table 2 shows cutoff sensitivities at different grades.
Table 2. Buck Main deposit cutoff sensitivities
| Class | AuEq Cutoff (gpt) | In Situ Tonnage and Grade | AuEq Metal (kOz) | Au Metal (kOz) | Ag Metal (kOz) | ||||
| Tonnage (ktonnes) | AuEq (gpt) | Au (gpt) | Ag (gpt) | NSR ($CDN) | |||||
| Indicated | 0.2 | 1,604 | 0.435 | 0.414 | 3.9 | 33.85 | 22.4 | 21.3 | 203 |
| 0.25 | 1,148 | 0.519 | 0.496 | 4.3 | 40.40 | 19.1 | 18.3 | 158 | |
| 0.3 | 852 | 0.605 | 0.580 | 4.6 | 47.09 | 16.6 | 15.9 | 126 | |
| 0.35 | 645 | 0.695 | 0.669 | 5.0 | 54.12 | 14.4 | 13.9 | 103 | |
| 0.4 | 494 | 0.793 | 0.765 | 5.4 | 61.76 | 12.6 | 12.1 | 85 | |
| 0.5 | 317 | 0.989 | 0.957 | 6.0 | 76.99 | 10.1 | 9.8 | 61 | |
| 1 | 91 | 1.783 | 1.743 | 7.5 | 138.87 | 5.2 | 5.1 | 22 | |
| Inferred | 0.2 | 70,847 | 0.419 | 0.394 | 4.7 | 32.60 | 953.5 | 897.2 | 10,617 |
| 0.25 | 52,224 | 0.489 | 0.462 | 5.0 | 38.04 | 820.4 | 775.5 | 8,435 | |
| 0.3 | 39,248 | 0.560 | 0.532 | 5.3 | 43.60 | 706.5 | 670.9 | 6,721 | |
| 0.35 | 30,088 | 0.632 | 0.602 | 5.6 | 49.21 | 611.3 | 582.5 | 5,419 | |
| 0.4 | 23,644 | 0.703 | 0.671 | 5.9 | 54.71 | 534.0 | 510.3 | 4,477 | |
| 0.5 | 15,697 | 0.833 | 0.800 | 6.3 | 64.87 | 420.4 | 403.6 | 3,171 | |
| 1 | 3,126 | 1.485 | 1.440 | 8.5 | 115.64 | 149.2 | 144.7 | 857 | |
Table 3. Drill data used in the Mineral Resources Estimate
| Year | Total Number of DHs | Total Depth (m) | Length Assayed (m) | Total % Assayed (m) | Number of DHs within Domains | Assayed Within Modelled Domains (m) | % Assayed within the Domains |
| Total | 161 | 42,440 | 39,737 | 123 | 27,034 |
Figure 1: Buck Main Drilling and Resource Pit Outline
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/247455_b4b1af61746b7add_001full.jpg
Figure 2: Buck Main 3D View of Resource Constraining Pit showing AuEq blocks above 0.2 g/t
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/247455_b4b1af61746b7add_002full.jpg
Discovery Metrics
Sun Summit has efficiently delineated the Buck Main deposit with a total drilling cost of approximately CAD
The low discovery cost reflects the efficiency of Sun Summit's exploration strategy, which included systematic targeting using advanced geological modeling, geophysical surveys, and geochemical analysis. This exploration success underscores the strong potential for further resource growth, as the deposit remains open in multiple directions.
Next Steps
- Additional metallurgical testing will be initiated to optimize metal recoveries and evaluate potential byproduct elements, ensuring the economic viability of future mining operations.
- Further drilling designed to investigate the extents of the Buck Main deposit is recommended. Areas open to the north, west, and east will be targeted in future drill programs.
National Instrument 43-101 Disclosure
The Buck Main MRE was prepared by Sue Bird, M.Sc., P.Eng., V.P. of Resources and Engineering at Moose Mountain Technical Services, an independent Qualified Person as defined by NI 43-101. Darcy Baker, P.Geo, President of Equity Exploration Consultants Ltd, assisted in the preparation of the report and is the Qualified Person responsible for certain sections of the report. Sue Bird has reviewed and approved the technical information about the MRE in this news release.
Mineral resources that are not mineral reserves do not have demonstrated economic viability; however, a reasonable prospect of eventual economic extraction pit has been used to confine the Mineral Resource Estimate using parameters detailed in the table notes.
The QP for the Mineral Resource Estimate is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the potential development of Mineral Resource Estimate. Factors that may affect the estimates include: metal price assumptions, changes in interpretations of mineralization geometry and continuity of mineralization zones, changes to kriging assumptions, metallurgical recovery assumptions, operating cost assumptions, confidence in the modifying factors, including assumptions that surface rights to allow mining infrastructure to be constructed will be forthcoming, delays or other issues in reaching agreements with local or regulatory authorities and stakeholders, and changes in land tenure requirements or in permitting requirement.
This news release has been reviewed and approved by Sun Summit's Vice President Exploration, Ken MacDonald, P. Geo., a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
Upcoming Events
Sun Summit is pleased to announce its participation in two regional BC events. The Company will display drill core from the 2024 JD exploration program and drill core from the Buck Main zone from April 8-9 at the KEG 2025 Conference and Trade Show (https://www.keg.bc.ca/conference/default.htm), and, again at the Minerals North Conference (https://mineralsnorth.ca/) in Prince George, BC, from April 30 to May 2.
Community Engagement
Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.
About the Buck Project
The Buck Project is situated in a historic mining district near Houston, B.C., with excellent nearby infrastructure that allows for year-round, road-accessible exploration.
The project is host to the Buck Main intermediate-sulfidation epithermal-related gold-silver-zinc system. Most of the mineralization drilled to date at Buck Main consists of long, continuous zones of disseminated and breccia-hosted, bulk tonnage-style gold-silver-zinc. Vein-hosted, high-grade mineralization has also been intersected near the center of Buck Main.
Exploration at the Buck Project is focused on investigating the lateral and vertical extent of gold-silver-zinc mineralization at the Buck Main system, and to define additional drill targets across the entire land package through systematic exploration programs.
About Sun Summit
Sun Summit (TSX-V: SMN; OTCQB: SMREF) is a mineral exploration company focused on expansion and discovery of district scale gold and copper assets in British Columbia. The Company's diverse portfolio includes the JD Project in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.
Further details are available at www.sunsummitminerals.com.
Link to Figures
On behalf of the board of directors
Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com
For further information, contact:
Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226
Forward-Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, estimates of mineral resources, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247455
FAQ
What are the total gold and silver resources reported in Sun Summit's (SMREF) Buck Main deposit?
What is the average grade of SMREF's Buck Main Inferred Resources?
How much did Sun Summit (SMREF) spend on drilling since 2020?
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