Sun Peak Recommences Drill Program at the Safra VMS Project, Saudi Arabia
The current campaign extends testing beyond Safra Main to two previously undrilled targets.
Sentiment and the balance of points
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Rhea-AI Summary
Sun Peak Metals (SUNPF) has begun a 3,000-meter diamond drill program at its wholly owned Safra project in Saudi Arabia. Two drills will test extensions of Safra Main and the previously undrilled Safra North and Safra East targets.
All seven Safra Main holes in the May 2026 campaign intersected mineralization, including 39.0 meters at 1.38% copper and 0.84% zinc. The zone remains open along strike and at depth. Newly completed electrical surveys identified preliminary anomalies at all three targets, but these may have sources other than sulphide mineralization.
Sun Peak has more than C$12 million in the bank following completed financing. It plans maiden drilling at Al Miyah after Safra and is advancing Round 9 targets toward potential drilling in early 2027. Current exploration and planned work remain unaffected by regional conflicts.
How this balance works
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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
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Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point3,000-meter drilling program underway with two drills at wholly owned Safra, testing extensions and additional targets.
- Moderate pointMore than C$12 million in the bank following recently completed financing.
- Moderate pointAll seven Safra Main holes intersected mineralization in the May 2026 campaign; the zone remains open.
- Minor pointSAF26DD008 previously returned 39.0 meters at 1.38% copper and 0.84% zinc.
- Minor pointSAF26DD005 previously returned 19.42 meters at 1.17% copper, 2.59% zinc and 22.35 g/t silver.
10 minor points
- Minor pointSAF26DD005 lower interval: 13.0 meters at 0.49% copper, 1.77% zinc, 1.64% lead, 69.17 g/t silver, 0.61 g/t gold.
- Minor pointSAF26DD001 previously returned 8.85 meters at 1.32% copper and 6.51% zinc.
- Minor pointSAF26DD003 previously returned 6.80 meters at 0.48% copper, 3.19% zinc, 34.81 g/t silver and 1.33 g/t gold.
- Minor pointSAF26DD010 previously returned 6.0 meters at 2.86% copper and 5.70% zinc.
- Minor pointSafra East grab samples returned up to 1.38% copper near a gravity anomaly.
- Minor point. Forward-looking: it has not happened yet and may not happen.Al Miyah maiden drilling planned after Safra, targeting Hishashat, Hilux gold and Al Miyah Main.
- Minor pointHishashat grab sampling previously returned up to 5.01% copper.
- Minor pointHishashat separate subcrop sample returned 0.77% copper, 1.45 g/t gold and 29.8 g/t silver.
- Minor point. Forward-looking: it has not happened yet and may not happen.Round 9 targets are being advanced toward potential drilling in early 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Exploration and planned work remain unaffected by regional conflicts, with field operations continuing as scheduled.
Negative
- Minor pointSafra electrical-survey results are preliminary; interpretation continues, and anomalies may reflect sources other than sulphide mineralization.
- Minor pointGrab and subcrop samples are selective and may not represent mineralization across the properties.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / October 22, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) ("Sun Peak" or the "Company") today announced that a 3,000-meter diamond drill program is underway with two drills at its
The program will follow up on the encouraging results from the Company's maiden drill campaign in May 2026, in which all seven holes drilled at Safra Main intersected mineralization, including 39.0 meters grading
Highlights
- A 3,000-meter diamond drill program with two drills is now underway at Safra, targeting extensions of the copper-zinc VMS mineralization with associated gold and silver.
- Drilling will test extensions of Safra Main, the untested Safra North gravity anomaly, and Safra East, a parallel VMS trend approximately 1.5 kilometers east of Safra Main where gossanous exhalite grab samples returned up to
1.38% copper, associated with a strong gravity anomaly. - Recently completed IP and time-domain electromagnetic ("TDEM") surveys at Safra have outlined chargeability anomalies at Safra Main, Safra East and Safra North, which are being integrated with gravity, geological and geochemical data to refine drill targets.
- Following Safra, a maiden drill program is planned at Al Miyah, targeting the Hishashat VMS target, supported by surface copper, zinc, gold and silver mineralization and coincident electromagnetic and gravity anomalies, as well as the Al Miyah Main VMS and Hilux gold targets.
- On the Round 9 licences, the Washaq VMS target, NGZ gold target and other priority targets are being advanced toward potential drilling in early 2027.
- Exploration programs remain unaffected by regional conflicts. The Company continues to closely monitor security conditions, prioritizing the safety and well-being of its personnel and contractors.
"Our initial drilling at Safra Main intersected broad continuous zones of copper, zinc, gold and silver VMS mineralization, providing clear follow-up targets for the second phase of drilling," said Arron Albano, Exploration Manager of Sun Peak. "We are now testing extensions of that mineralization along strike and at depth, together with the priority anomalies at Safra North and Safra East. Our trusted method of integrated geological, geochemical and geophysical work continues to refine these targets, which share characteristics with significant VMS systems elsewhere in the Arabian-Nubian Shield."
"With our financing recently completed and more than C
"We are committed to conducting our programs responsibly, monitoring security conditions closely and advancing our exploration activities in a measured and systematic manner," continued Mr. Davis. "The safety and well-being of our people and partners remain paramount."
Safra Project - Follow-Up Drilling and Target Expansion
The 93 km² project lies within the Nuqrah VMS Belt, approximately 185 kilometers northeast of Medina. Exploration is targeting copper-zinc with associated gold and silver VMS mineralization beneath surface gossans and alteration, supported by gravity and electromagnetic anomalies.
The maiden program, completed in May 2026, comprised 10 holes totaling 1,242 meters at Safra Main and Safra South. All seven holes drilled at Safra Main intersected mineralization. Mineralization is hosted within a complex package of felsic and mafic volcanic rocks and ranges from disseminated to massive sulphides, consisting primarily of chalcopyrite, sphalerite and pyrite, with variable silicification and carbonate alteration typical of VMS systems. Selected previously reported results include:
- SAF26DD008: 39.0 meters at
1.38% copper and0.84% zinc, including 17.75 meters at1.60% copper and1.58% zinc. - SAF26DD005: 19.42 meters at
1.17% copper,2.59% zinc and 22.35 g/t silver, including 3.0 meters at3.08% copper,11.72% zinc and 57.25 g/t silver. - SAF26DD005 (lower interval): 13.0 meters at
0.49% copper,1.77% zinc,1.64% lead, 69.17 g/t silver and 0.61 g/t gold, including 6.0 meters at0.96% copper,3.35% zinc,3.15% lead, 127.43 g/t silver and 1.02 g/t gold. - SAF26DD001: 8.85 meters at
1.32% copper and6.51% zinc. - SAF26DD003: 6.80 meters at
0.48% copper,3.19% zinc, 34.81 g/t silver and 1.33 g/t gold. - SAF26DD010: 6.0 meters at
2.86% copper and5.70% zinc.
Intervals are reported as drilled core lengths; true widths are not yet known. These results were previously reported on September 8, 2026.
Safra East, Safra North and New Geophysical Targets
The current 3,000-meter program will test extensions of Safra Main along strike and at depth, as well as the Safra North and Safra East target areas, neither of which has been drill tested. Safra East is a parallel VMS trend located approximately 1.5 kilometers east of Safra Main, where gossanous exhalite grab samples returned up to
Sun Peak has also recently completed a 10-line IP survey at Safra covering approximately 7.4 km², with a depth of investigation exceeding 500 meters. Preliminary results have outlined several strong chargeability anomalies at Safra Main, Safra East and Safra North, a number of which occur near low-resistivity (conductive) zones and extend from near surface to depth across multiple survey lines. These results are considered encouraging, as chargeable and conductive responses of this type are commonly associated with sulphide mineralization in VMS systems. The IP survey complements the 33.4 line-kilometer ground TDEM survey completed earlier in 2026 (see July 30, 2026, news release) and the Company's gravity surveys, and all datasets are being integrated with geological and geochemical data to prioritize drill targets. IP results are preliminary, interpretation is ongoing, and chargeability anomalies may arise from sources other than sulphide mineralization.
Al Miyah Project
Following completion of the Safra program, Sun Peak plans to mobilize drills to Al Miyah for a maiden diamond drill program focused on Hishashat, a copper-zinc-gold-silver VMS target, with additional holes planned at the Hilux gold and Al Miyah Main VMS targets. At Hishashat, previous grab sampling returned up to
Trenching ahead of drilling will refine targets defined by gossans, copper-bearing stringer mineralization and coincident electromagnetic and gravity anomalies. Further details will be provided ahead of drilling.
Round 9 Licences - Advancing VMS and Gold Targets
Sun Peak is concurrently advancing the Jabal Alasad and Zayiyr Projects, which were acquired through the Saudi Arabian Ministry of Industry and Mineral Resources Round 9 Licensing Auction, with drilling planned for early 2027. At Jabal Alasad, mapping and geophysical surveys are refining the Washaq VMS target, where earlier work identified approximately 1.5 kilometers of gossan and associated hydrothermal alteration.
At Zayiyr, SRK Consulting is modelling historical drill data at the NGZ orogenic gold target, supported by structural interpretation to guide trenching and drill targeting. The Company will provide further details on these programs as targets are finalized.
Operational Safety and Regional Monitoring
Sun Peak continues to monitor developments in the region. The Company's current exploration activities and planned work programs in Saudi Arabia remain unaffected, and field operations are continuing as scheduled.
The safety and well-being of employees, contractors and local partners remain the Company's highest priority. Sun Peak maintains ongoing monitoring through the Canadian Embassy, security advisors and an established in-country network, and will continue to assess conditions and adjust its activities as appropriate to support safe operations.
Previously Reported Results and Technical Disclosure
The assay results summarized in this release were previously reported. Refer to the Company's news releases dated April 23, 2026, May 26, 2026, July 30, 2026, and September 8, 2026, are available at www.sunpeakmetals.com, for the relevant sampling, analytical and quality assurance/quality control information.
Safra Drill Collar Information for results previously announced on September 8, 2026
| Hole ID | Length (m) | UTM East | UTM North | Elevation (m) | Azimuth | Dip |
| SAF26DD001 | 102.65 | 712118.41 | 2825263.82 | 1087.6 | 240 | -50 |
| SAF26DD002 | 150 | 712164.86 | 2825288.52 | 1087.97 | 240 | -50 |
| SAF26DD003 | 101.2 | 712161.01 | 2825180.39 | 1090.23 | 250 | -50 |
| SAF26DD004 | 149.4 | 712143.11 | 2823450.27 | 1102.21 | 275 | -50 |
| SAF26DD005 | 101.2 | 712080.16 | 2825191.8 | 1089 | 70 | -50 |
| SAF26DD006 | 153.2 | 712035.82 | 2825169.78 | 1088 | 70 | -50 |
| SAF26DD007 | 202.7 | 712181.41 | 2823694.56 | 1102.9 | 275 | -50 |
| SAF26DD008 | 125 | 712109.77 | 2825111.99 | 1080.98 | 70 | -50 |
| SAF26DD009 | 35.3 | 712181.62 | 2824109.8 | 1098.0 | 275 | -50 |
| SAF26DD010 | 121.7 | 712186.8 | 2825087.94 | 1093.14 | 250 | -50 |
Safra drill collar information. Coordinates are reported in WGS 84 / UTM Zone 37N.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Arron Albano, P.Geo., Project Manager for Sun Peak Metals Corp., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
ABOUT SUN PEAK METALS CORP.
Sun Peak's portfolio is located within the Arabian-Nubian Shield, a highly prospective Precambrian mineral belt that hosts numerous VMS, intrusion-related and orogenic gold systems, including Jabal Sayid and Mansourah in Saudi Arabia and the Bisha Mine and Asmara Projects in Eritrea. The Company's exploration strategy is focused on systematically advancing a pipeline of projects from regional target identification through drill testing.
In the Kingdom of Saudi Arabia, the Company holds 13 exploration licences totaling 1,072 km² along established VMS and gold trends, with applications pending for two additional exploration licences covering approximately 200 km².
In Ethiopia, the Company's Shire Project comprises six exploration licences covering approximately 1,450 km².
Sun Peak's team has a strong track record of multiple mine discoveries within the Arabian-Nubian Shield, supported by significant capital-markets strength and experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
Greg Davis,
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains certain statements and information that may be considered "forward-looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information contained in this news release may include, without limitation: the scope, timing and objectives of the drill program at the Safra Project; the potential for additional sulphide mineralization at the Safra Project; the planned trenching, drill mobilization and maiden drill program at the Al Miyah Project; the advancement of the Washaq, NGZ and other priority targets on the Round 9 licences toward drilling in early 2027; the Company's ability to fund its planned exploration programs and to explore and drill quickly and cost-effectively; the pending applications for two additional exploration licences; and the advancement of projects from regional target identification through drill testing. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with rising global inflation and increased potential supply chain disruptions; the impact of international trade disputes and the imposition of tariffs, international conflict and other geopolitical tensions and events; the political, security, regulatory, tax, social and economic conditions in Saudi Arabia and Ethiopia; the availability of drill rigs, equipment, personnel and contractors; the Company's inability to generate sufficient cash flow or raise additional capital; the Company's history of losses and negative cash flow; general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; the Company's relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; mining industry and markets in Canada, Saudi Arabia, Ethiopia and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions proves not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Sun Peak Metals Corp.
View the original press release on ACCESS Newswire
FAQ
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What is Sun Peak Metals testing in the new Safra drill program?
The 3,000-meter program will test extensions of Safra Main along strike and at depth, plus the previously undrilled Safra North and Safra East targets. Two drills are operating at the wholly owned project in Saudi Arabia.
What exploration does Sun Peak Metals plan after Safra drilling?
Sun Peak plans to move drills to Al Miyah after completing Safra, focusing on Hishashat with additional holes at Hilux gold and Al Miyah Main. The company is also advancing Round 9 targets toward potential drilling in early 2027.
How is Sun Peak Metals preparing the Al Miyah and Round 9 drill targets?
Trenching, mapping and geophysical interpretation are being used to refine targets before drilling. At Al Miyah, trenching will refine targets supported by surface mineralization and electromagnetic and gravity anomalies. At Jabal Alasad, mapping and geophysical surveys are refining Washaq. At Zayiyr, SRK Consulting is modelling historical NGZ drill data with structural interpretation to guide trenching and drill targeting.