Sunvest Minerals Corp.: Evening Star Property, Nevada – Gold Bug Target Returns Drill Intercept of 3.1 Meters of 0.46% Copper, New Surface Zone Returns up to 20.3 Grams per Tonne Gold
July 11, 2018 (Source) — Sunvest Minerals Corp. (TSX-V: SSS) (“Sunvest Minerals” or the “Company”) is pleased to report assay results from the diamond drill and surface sampling program on the Evening Star Property, located 16 kilometers southeast of Hawthorne, Nevada. This program concludes work at Evening Star and the Company is now in advanced stages of preparation for upcoming programs at its Clone project in the Golden Triangle, BC.
A total of three short diamond drill holes comprising 439.4 meters were completed in the “Gold Bug” target, which is prospective for copper, gold, silver, lead, and zinc mineralization in favourable volcanic, intrusive and limestone sedimentary host rock units.
The following table summarizes the results:
The drill results were interpreted and assessed based on copper equivalent grades (CuEq) of plus/equal to 0.50 per cent CuEq, and plus/equal to 0.20 per cent CuEq. Copper equivalents are calculated based on the values of copper, silver and zinc, and metal prices of $1,250 /ounce gold, $16.00/ounce for silver, 2.85/pound for copper, 1.05/ pound for lead, and $1.25/pound for zinc. NSV, indicates “No Significant Values”.
All three drill holes (Hole ES 18-03, 04 and 05) were drilled from one site, approximately 50 meters east of, and about 15 meters lower in elevation, than hole ES-17-02 which returned 17.5 feet (5.3 metres) averaging 0.84 g/t Au, 105.3 g/t Ag, 5.09 per cent Cu, 0.09 per cent lead (Pb) and 0.86 per cent zinc (Zn), from the collar (see SSS PR – July 27, 2017).
The Company is also pleased to report on a new surface discovery in a historic area known as the Good Hope #2 Mine, on the Evening Star property. Recent assay results indicate a significant zone of gold and silver mineralization hosted in fractured and sheared granodiorite. Gold values up to 20.30 grams per tone (g/t Au), silver values up to 82.4 g/t Ag and copper peaks of 0.19 per cent Cu were returned from surface samples over a strike length of approximately 500 meters trending NNW (North-North-West) from the northern location of the Gold Bug target. Lead is strongly anomalous in this target. Although numerous dozer trenches and pits, and a few shallow shafts are noted in the target area, there is no evidence or knowledge of any drilling. The company cautions investors that the Good Hope sampling is preliminary in nature and that grab samples are selected samples and are not necessarily representative of the mineralization on the property.
“The Gold Bug zone continues to remain an intriguing target, albeit more complicated and challenging then initially anticipated, and further drilling is required. We are pleased with the initial sample results on the Gold Hope area and this represents a new target that can be readily be defined and prepared for drilling. The Evening Star property has excellent logistics and can readily be worked year-round,” stated Mike England, chief executive officer of the company.
Garry Clark, P.Geo, a qualified person as defined by National Instrument 43-101, is the independent qualified person responsible for reviewing and approving the technical contents of this press release as they pertain to the Evening Star property
ON BEHALF OF THE BOARD
Mike England, CEO&DIRECTOR
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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