Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to report initial drill results from its fall 2021 exploration program on its Buck Property, central B.C. Assays from eight of the 32 completed holes are reported.

Highlights

Multiple intervals of high-grade, vein-hosted gold mineralization intersected in numerous holes:

• 11.65 grams/tonne (g/t) gold equivalent (AuEq) over 3.0 metres, including 31.79 g/t AuEq over 1.0 metre within 0.86 g/t AuEq over 60.8 metres (BK21-035).
• 14.86 g/t AuEq over 1.1 metres within 1.04 g/t AuEq over 21.9 metres (BK21-041)
• 10.03 g/t AuEq over 2.9 metres, including 16.05 g/t AuEq over 1.5 metres within 4.82 g/t AuEq over 6.8 metres (BK21-043)
• These high-grade intervals are within broader zones of near-surface disseminated mineralization.
• Results confirm the presence of widespread high-grade gold mineralization as previously reported (e.g., BK20-012: 5.89 g/t AuEq over 17.0 metres including 23.10 g/t AuEq over 3.0 metres, and BK21-020: 31.75 g/t AuEq over 4.0 metres including 247 g/t AuEq over 0.5 metres).

Note: Intervals are downhole core lengths. True widths are unknown. AuEq based on a 75:1 silver to gold ratio

Multiple intervals of near-surface, disseminated and breccia-hosted mineralization confirm strong continuity of bulk-tonnage style mineralization:

• 0.96 g/t AuEq over 102.0 metres, including 1.94 g/t AuEq over 18.0 metres and including 1.15 g/t AuEq over 19.3 metres (BK21-036)
• 0.74 g/t AuEq over 175.3 metres, including 1.25 g/t AuEq over 53.8 metres (BK21-038)
• Results confirm strong grade continuity on the eastern side of Buck Main over a strike length of at least 300 metres. These bulk-tonnage intercepts are similar to previously released results (e.g., BK21-017: 1.15 g/t AuEq over 109 metres, and BK21-033: 1.13 g/t AuEq over 87.1 metres).

Note: Intervals are downhole core lengths. True widths are unknown. AuEq based on a 75:1 silver to gold ratio.

Bob Willis, Sun Summit’s CEO, stated: “This first batch of results from our 32 hole program across the Buck Main area, continues to demonstrate the growing scale of the system as every hole hit varying styles and grades of gold and silver mineralization from top to bottom. The presence of broad zones of near surface disseminated bulk-tonnage style mineralization together with local high-grade zones provide significant encouragement to support an aggressive 2022 drilling campaign. These higher grade zones should contribute favourably to future mineral resource and economic studies. The Buck Main mineralized system remains open in all directions.”

Drill Program

Holes reported in this release are from two key areas, formerly known as the eastern ‘Horseshoe’ and the western ‘Trench’ zones. Based on a new structural model (see news release dated November 30th, 2021), holes were drilled along northeast-southwest oriented sections with all holes drilled to the northeast at varying dips (Figure 1). This drill plan allowed for the systematic generation of cross sections across the Buck Main target to better define lithological and structural controls. Based on this modelling, it is apparent that lithology played a key role in the distribution of disseminated mineralization versus vein-hosted, high-grade mineralization. The results from the remaining 24 holes will be used to further demonstrate continuity of mineralization within and between different styles of mineralization across the Buck Main area.

Figure 1. Buck drill hole locations with selected highlights

Western Buck Main

Five holes (BK21-035, 039, 041, 042, and 043) were drilled on the western side of Buck Main (Figure 1) targeting high-grade, structurally controlled gold mineralization as well as broad zones of disseminated gold mineralization. Holes were designed to follow-up previously reported significant high-grade gold intercepts (e.g., BK20-012: 5.89 g/t AuEq over 17.0 metres including 23.10 g/t AuEq over 3.0 metres, and BK21-020: 31.75 g/t AuEq over 4.0 metres including 247 g/t AuEq over 0.5 metres; see news releases dated January 5th, 2021, and May 11th, 2021) hosted in a sequence of andesites and sedimentary rocks cut by northwest-trending quartz-feldspar porphyritic dykes. Higher-grade intervals (Table 1) are hosted in local quartz + carbonate + sulfide veins associated with broad zones of quartz + sericite + pyrite alteration.

Holes BK21-035, 039 and 041 were drilled from the same section (4575; Figure 2). Hole BK21-035 intersected numerous zones of gold mineralization (Table 1), highlighted by a broad 60.8 metre interval of 0.86 g/t AuEq, including 3.0 metres of 11.65 g/t AuEq. Hole BK21-041, collared 80 metres north of BK21-035, intersected a broad 21.9 metre, near-surface zone of 1.04 g/t AuEq which included 5.6 metres of 3.20 g/t AuEq and including 1.1 metres of 14.86 g/t AuEq. Hole BK21-043, collared 130 metres north of BK21-035 on section 4525, intersected a significant zone of near-surface high-grade gold mineralization comprised of 19.2 metres of 1.92 g/t AuEq including 2.9 metres of 10.03 g/t AuEq. Holes BK21-039 and 042, on sections 4575 and 4550 respectively, both bottomed in mineralization highlighted by multiple broad zones of near-surface gold mineralization (e.g., 0.41 g/t AuEq over 52.8 metres including 8.76 g/t AuEq over 0.9 metres from 9.5 metres down hole, BK21-039; Table 1).

Results from the first set of holes from the western side of Buck Main confirm the presence of near-surface, high-grade gold and silver mineralization and support the significant potential of this area. Holes from neighboring sections, to be released once all assays are received from the lab, will further inform the extent and continuity of vein-hosted high-grade gold mineralization.

Figure 2. Cross section 4575 showing selected highlights

Eastern Buck Main

Three holes (BK21-036, 038 and 040) were drilled on the eastern side of Buck Main (Figure 1) and targeted near-surface, bulk-tonnage gold mineralization. The holes were designed to follow-up and confirm continuity of previously reported long intervals of breccia-hosted and disseminated gold and silver mineralization associated with pyrite + sphalerite hosted in dacite-lapilli tuffs and dacite clast-rich hydrothermal breccias (e.g., BK21-017; 1.15 g/t AuEq over 109 metres, and BK21-033; 1.13 g/t AuEq over 87.1 metres; see news release dated July 6th, 2021).

Hole BK21-036, collared on section 4850 (Figure 3), intersected a broad zone of gold and silver mineralization comprised of 102 metres of 0.96 g/t AuEq including 18 metres of 1.94 g/t AuEq. Hole BK21-038, collared 85 metres to the north of BK21-036 on section 4800 (Figure 3), was mineralized over 405 metres (Table 1) highlighted by a broad and continuous zone of gold and silver mineralization: 175.3 metres of 0.74 g/t AuEq including 22.5 metres of 2.04 g/t AuEq. Hole BK21-040, collared 40 metres north of BK21-038 on the same section (Figure 3), intersected multiple zones of gold and silver mineralization over 303.8 metres, highlighted by 232.6 metres of 0.38 g/t AuEq.

Figure 3. Cross section 4800 showing selected highlights

Results from the first set of holes from the eastern side of Buck Main, together with previously reported intercepts (see news release dated July 6th, 2021), demonstrate strong disseminated and breccia-hosted gold mineralization continuity across a northwest strike-length of at least 300 metres. These holes represent the easternmost holes drilled during this phase, whereas subsequent holes, the results of which will be announced shortly, tested the northwest trending structural contact between sedimentary and volcaniclastic rocks with dacitic lapilli tuffs and breccias (see news release dated November 30th, 2021). The contact remains open and represents a key structure for future drill testing.

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