Sun Summit Step-Out Drilling Expands Near-Surface Gold-Silver-Zinc Mineralization at Buck Project, B.C.; Intersects 54.6 Metres of 0.83 g/t Au, 9.2 g/t Ag and 0.21% Zn, Including 3.0 Metres of 6.06 g/ & More Trending News

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Vancouver, British Columbia–(Newsfile Corp. – January 25, 2023) – Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is happy to report last drill outcomes from its fall 2022 exploration drill program at the Buck Project, central B.C. The program consisted of 10 diamond drill holes totalling roughly 3,000 metres.

The focus of the drill program was to check the enlargement potential of the Buck Main gold-silver-zinc epithermal-related system alongside strike and at depth, with step-out distances between 50 to 100 metres. Results from this section of drilling efficiently demonstrates sturdy enlargement potential for each disseminated and high-grade gold-silver-zinc mineralization past the present extent of the recognized Buck Main zone to the west, northwest and south of earlier drill packages. The newly expanded zone of mineralization stays open in a number of instructions and is anticipated to see additional step-out drill testing within the subsequent section of drilling.

Highlight intervals embody:

• Hole BK22-080, drilled into an untested space, considerably opens the enlargement potential of near-surface gold-silver-zinc mineralization to the northwest:

  • 81.2 metres of 0.58 g/t Au, 11.8 g/t Ag and 0.08% Zn,
    together with 10.1 metres of 1.4 g/t Au, 26.6 g/t Ag and 0.20% Zn

  • 5.6 metres of 1.18 g/t Au, 43.9 g/t Ag and 0.34% Zn,
    together with 1.1 metres of 5.5 g/t Au, 208 g/t Ag and 1.5% Zn

    • This high-grade interval is situated ~250m to the northwest of drill gap BK22-083 (see January 19, 2023 information launch) which intersected 7.0 metres of 6.4 g/t Au, 27.6 g/t Ag, and 1.1% Zn, together with 1.1 metres of 38.0 g/t Au, 137.0 g/t Ag, and 5.9% Zn.

• Hole BK22-077 extends broad zones of sturdy gold-silver-zinc mineralization intersected in earlier holes to the south:

  • 54.6 metres of 0.83 g/t Au, 9.2 g/t Ag and 0.21% Zn,
    together with 3.0 metres of 6.06 g/t Au, 62.5 g/t Ag and 0.52% Zn

• Hole BK22-079 represents the most important step-out to the west and extends the footprint of mineralization at Buck Main to over one kilometre alongside strike:

  • 4.7 metres of 0.91 g/t Au, 17.3 g/t Ag and 0.66% Zn,
    together with 1.1 metres of 3.4 g/t Au, 68.6 g/t Ag and 2.05% Zn
    

  • 1 metre of 5.1 g/t Au, 2.7 g/t Ag and 0.56% Zn at backside of gap

Notes:

1. Intervals are downhole core lengths. True widths are unknown.
2. Calculations are uncut and length-weighted utilizing a 0.10 g/t gold cut-off.
3. Actual values might barely differ from Table 1 as a result of rounding.

“We are very encouraged by results from all holes drilled during our last drill program, particularly holes BK22-080 and BK22-079,” acknowledged Sun Summit’s President, Sharyn Alexander. “These holes tested new areas, previously undrilled, and expanded the known footprint of gold-silver-zinc mineralization.

“Our main purpose for the autumn 2022 drill program at Buck Main was to research the dimensions potential alongside strike, primarily to the west, south and northwest of earlier drilling. We hit mineralization in all however one step-out gap and contemplate this system to be an impressive success. We now have a number of compelling goal areas for ongoing exploration and drilling and anticipate an aggressive exploration marketing campaign for 2023. Our subsequent section of exploration at the Buck Project will embody further step-out drilling at Buck Main, which stays open for potential enlargement potential in a number of instructions, and activating plans for different high-priority drill targets elsewhere on the property that would result in further discoveries.”

Table 1. Assay Results

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Zn (%)	AuEq (g/t)
BK22-076	23.0	27.5	4.5	0.14	2.6	0.32	0.29
and	39.5	47.0	7.5	0.17	1.1	0.29	0.29
and	108.3	113.2	4.9	0.25	2.7	0.82	0.63
and	119.2	132.5	13.3	0.15	1.7	0.43	0.35
and	190.5	207.5	17.0	0.31	3.9	0.59	0.58
and	222.5	229.4	6.9	0.28	21.5	0.49	0.65
and	236.9	280.7	43.8	0.20	9.0	0.30	0.39
and	319.5	331.5	12.0	0.21	8.1	0.24	0.36
and	365.9	370.4	4.5	0.31	4.3	1.79	1.16
and	382.3	388.2	5.9	0.34	1.2	1.34	0.94
and	409.0	436.5	27.5	0.14	1.7	0.41	0.33
and	474.5	479.0	4.5	0.18	1.6	0.07	0.20
BK22-077	109.8	119.0	9.2	0.13	1.0	0.27	0.25
and	164.8	219.4	54.6	0.83	9.2	0.21	0.88
inc	170.2	173.2	3.0	6.06	62.5	0.52	5.90
inc	186.7	203.5	16.8	1.06	5.2	0.30	1.09
and	238.5	272.5	34.0	0.42	9.3	0.24	0.55
inc	250.0	262.3	12.3	0.70	20.7	0.23	0.87
and	302.3	325.0	22.7	0.13	1.9	0.48	0.36
and	349.5	354.0	4.5	0.35	0.8	0.16	0.38
and	422.5	463.5	41.0	0.21	3.7	0.06	0.24
and	471.9	481.9	10.0	0.17	1.2	0.22	0.26
BK22-079	65.9	73.0	7.1	0.29	2.8	0.21	0.37
and	118.5	145.8	27.3	0.19	5.1	0.61	0.49
and	211.5	215.8	4.3	0.33	10.7	1.13	0.91
and	223.6	228.3	4.7	0.91	17.3	0.66	1.23
inc	227.2	228.3	1.1	3.39	68.6	2.05	4.43
and	296.0	299.0	3.0	0.31	2.2	1.52	1.01
and	365.0	366.0	1.0	5.07	2.7	0.56	4.60
BK22-080	6.3	122.0	115.7	0.47	9.3	0.06	0.50
inc	6.3	87.5	81.2	0.58	11.8	0.08	0.62
inc	13.3	23.4	10.1	1.38	26.6	0.19	1.48
inc	13.3	14.8	1.5	5.85	50.3	0.02	5.39
inc	72.5	87.5	15.0	1.01	20.5	0.06	1.05
and	166.7	172.3	5.6	1.18	43.9	0.35	1.53
inc	166.7	167.8	1.1	5.50	208.0	1.53	7.11
inc	195.5	207.0	11.5	0.12	2.5	0.12	0.18
and	228.3	236.5	8.2	0.27	2.7	0.25	0.37
and	268.0	271.3	3.3	0.20	8.8	0.07	0.27
BK22-078		No Reportable Intersections

Notes:

1. Intervals are downhole core lengths. True widths are unknown.
2. Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.
3. Actual values may slightly differ from Table 1 due to rounding.
4. Gold Equivalent (AuEq) calculations use metal prices of $1795/oz Au, $22.55/oz Ag and $1.325/lbs Zn using the equation: AuEq(g/t) = ((Au(g/t) x $Au/oz x 0.032151) + (Ag(g/t) x $Ag/oz x 0.032151) + (Zn% x $Zn/lbs x 22.0462)) / ($Au/oz x 0.032151). The Company has used conceptual metallurgical recoveries of Au 85%, Ag 65%, and Zn 95% based on assumptions that it believes to be reasonable in the circumstances. There is no guarantee, however, that the actual metal recoveries determined from metallurgical testing will be the same as the conceptual recoveries used to determine the AuEq.

Drill Program

The primary objective of the fall 2022 drill program at Buck Main was to investigate the lateral and vertical extents of near-surface gold-silver-zinc mineralization covering the mineralized footprint outlined so far over an east-west strike length of one kilometre and an approximate width of 600 metres. A total of 10 diamond drill holes were completed over 3,000 metres, two of which were terminated early due to poor ground conditions (see January 19, 2023 news release). Most holes were drilled on similar sections as previous drill programs to better facilitate modelling and structural interpretation. All five holes in this release were drilled on the western side of the Buck Main system with step-out distances between 50 to 100 metres from previous drilling (Figure 1).

Figure 1. Map showing drill collar locations with selected highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/152404_e5ca5455c4f91ba4_001full.jpg

Hole BK22-080, collared on the same section as BK22-070 and drilled to the northeast (Figure 2), was designed to test a previously undrilled broad zone of strong gold-in-soil anomalism. The hole collared in strong disseminated mineralization highlighted by an interval of 81.2 metres of 0.58 g/t Au, 11.8 g/t Ag and 0.08% Zn including 10.1 metres of 1.4 g/t Au, 26.6 g/t Ag and 0.20% Zn from surface. The hole successfully defined a new zone of near-surface disseminated gold-silver-zinc mineralization that remains open in most directions. Additional drilling is clearly warranted to the northwest of Buck Main (Figure 1).

Holes BK22-076, -077 and -078 were collared on the same section as holes BK22-072 and BK22-083 (Figure 3; see May 3, 2022 and January 19, 2023 news releases) and were drilled to the southwest. The holes were designed to test for the southern extent of gold-silver-zinc mineralization previously intersected in BK22-070 and -072 and to investigate lithological controls on mineralization. Drill hole BK22-083 (see January 19, 2023 news release) clearly demonstrated the high grade potential of the section, which intersected 7.0 metres of 6.4 g/t Au, 27.6 g/t Ag, and 1.1% Zn, including 1.1 metres of 38.0 g/t Au, 137.0 g/t Ag, and 5.9% Zn. Numerous broad zones of disseminated and veinlet-hosted sulfide mineralization were intersected in holes BK22-076 and -077, yielding intervals such as 54.6 metres of 0.83 g/t Au, 9.2 g/t Ag and 0.21% Zn including 3.0 metres of 6.06 g/t Au, 62.5 g/t Ag and 0.52% Zn in BK22-077 (Table 1). Hole BK22-078 collared in altered but unmineralized volcanic and sedimentary rocks, likely part of the hanging wall to the Buck Main system.

Hole BK22-079 represents the largest step-out drilled along strike west of the Buck Main system. The hole intersected multiple zones of gold-silver-zinc mineralization highlighted by 4.7 metres of 0.91 g/t Au, 17.3 g/t Ag and 0.66% Zn including 1.1 metres of 3.4 g/t Au, 68.6 g/t Ag and 2.05% Zn at 223.6 metres, and 1 metre of 5.1 g/t Au, 2.7 g/t Ag and 0.56% Zn at the bottom of hole. The hole extends the strike-length of the Buck Main system to over one kilometre east-west and defines a new target to test in upcoming drill programs.

Figure 2. Cross section 4450 showing selected highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/152404_e5ca5455c4f91ba4_002full.jpg

Figure 3. Cross section 4350 showing selected highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/152404_e5ca5455c4f91ba4_003full.jpg

Table 2. Drill Collar Locations

Hole ID	Easting	Northing	Elevation (m)	Azimuth	Dip	Depth (m)
BK22-076	654125	6019748	885	200	-57.0	632
BK22-077	654125	6019747	885	199	-44.9	494
BK22-078	654081	6019631	879	200	-45.2	224
BK22-079	654026	6019783	861	200	-44.9	366
BK22-080	654225	6019798	883	19	-59.9	336

Coordinates are in UTM NAD83 Zone 9N

Upcoming Sun Summit Events

• January 23-26, Vancouver AME Roundup
  • BC, Yukon and Alaska Session, Technical Talk January 26 at 9:45 am
• January 29 to 30, Vancouver Resource Investment Conference (VRIC)
  • Booth # 309
  • Corporate Presentation January 30: Workshop 2 at 1:30 pm
• February 11 to 12, Whistler Capital Event (CEM)

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program. Drill core was sawn in half at Sun Summit’s core logging and processing facility in Houston, B.C. Half of the core was sampled and shipped by a bonded courier in sealed and secure bags to the ALS Global preparation facilities in Langley, B.C. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

Core samples were analyzed for 33 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23). Samples with >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30 gram sample. Samples with >100 ppm silver were re-analyzed using a four acid digestion and ICP-AES finish. Samples with >10,000 ppm zinc were re-analysed using a four acid digestion and ICP-AES finish.

In addition to ALS Global laboratory QA / QC protocols, Sun Summit implements a rigorous internal QA / QC program that includes the insertion of duplicates, standards and blanks into the sample stream.

National Instrument 43-101 Disclosure

This news release has been 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. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Community Engagement

Sun Summit is engaging with First Nations on whose territory the Buck Project is 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 as the project continues.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its gold, silver, and zinc discovery at its flagship 100% controlled Buck Project located in north-central British Columbia near the town of Houston.

The Company is exploring multiple high priority targets through systematic exploration campaigns. The project benefits from excellent developed infrastructure and year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility, with a focus on accountable development and building respectful and beneficial relationships with Indigenous and local communities.

Further details are available at www.sunsummitminerals.com.

Link to Figures

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2023/01/Fig1_Buck_Drilling_Overview_Jan25-NR.jpg

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2023/01/Fig2_Buck_Sxn_4450_Jan25-NR-final.jpg

Figure 3:
https://sunsummitminerals.com/wp-content/uploads/2023/01/Fig3_Buck_Sxn_4350_Jan25-NR-final.jpg

For further information, contact:

Sharyn Alexander
President
[email protected]

Roger Blair
Acuity Advisory Corp., Corporate Communications
[email protected]

Tel. 778-588-9606

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. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; variations in anticipated metal recoveries; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. 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.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada 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/152404

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