January 16, 2018 (Source) — Sunvest Minerals Corp. (TSX-V: SSS) (“Sunvest Minerals” or the “Company”) is pleased to report a new surface discovery on the Evening Star Property, located 16 kilometers southeast of Hawthorne, Nevada.
- Recent assay results indicate a significant zone of gold silver and copper mineralization discovered through sampling of old workings known as the “Golden Bomber” and “Golden Eagle” prospects. The new mineralized target area is designated as “Golden Highlands (GH) Zone”.
- Gold values up to 25.9 grams per tone (g/t Au), silver values up to 318.0 g/t Ag, copper peaks of 6.14% Cu were returned from surface samples over an area of approximately 300 x 200 meters (see table below). A total of 10 rock samples were taken from these new locations:
|Sample #||Type *||Width (m)||Au g/t||Ag g/t||Cu ppm||Pb ppm||Zn ppm|
* Grab samples are selective samples and are not necessarily representative of the mineralization hosted on the property. Chip samples are multiple rock chips taken over a specific interval. Samples plus 1.00 Au g/t, 100 g/t or 1.00% copper are in bold.
- The new zone of mineralization is hosted in granodiorite, associated with limonitic fractures and shears, druzy and vuggy quartz-calcite veining, and weak to moderate copper staining. The historic works comprise old shafts, prospect pits and trenches.
- The Golden Highlands area is approximately 1.2 kilometers west-north-west of the Gold Bug zone, the principal target on the Evening Star property, with follow-up drilling planned for the first quarter of 2018 (Press Release July 25, 2017, drill hole ES 17-02 intercepting 5.3m of 0.84 grams per tonne gold (g/t Au), 105.3 g/t Ag, and 5.09 % Cu).
- To the best of the Company’s knowledge there has been no drilling on the Gold Highlands targets. Crews will be returning to the site shortly to conduct additional surface exploration on the GH targets and prior to drilling commencing on the Gold Bug Zone.
“Sunvest is delighted to have discovered a new zone of mineralization, with excellent gold and silver values, which can quickly be advanced to the drill stage”, reports Mike England, President of the Company. “Sunvest’s Evening Star property represents a strategic, significant land position in the very active Pamlico mining district. Our current exploration activities are focused to test multiple targets with a drill program on the Evening Star property planned for early 2018. The Evening Star property has excellent logistics and can readily be worked year-round.”
All samples from the surface program were sent to the laboratory, ALS USA Inc, Reno, Nevada, a facility accredited by ISO/IEC 17025 (Lab 790) of the Standards Council of Canada. All samples were collected by company personnel and securely stored until delivery to ALS. This limited sampling program relies on the certified standards utilized by ALS as part of it analysis protocols. No quality assurance/quality control anomalies were noted in the analyses.
The Company also wishes to announce it has determined to not proceed with the acquisition of the Parrot Lake property (see PR dated December 14th, 2017). No shares were issued in conjunction with this transaction.
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.
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.
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).