November 29, 2018 (Source) — Sunvest Minerals Corp . (TSX-V: SSS) (“Sunvest Minerals” or the “Company“) is pleased to report the results of the 2018 summer exploration program on its’ Clone Project, located 20 kilometres southeast of Stewart in the Golden Triangle region of northwestern British Columbia .
- SOUTHERN GLORY PROSPECT – A significant new mineralized vein was discovered approximately 7.5 kilometers south-west of the Clone prospect, termed the “Southern Glory Prospect” . The Southern Glory prospect was discovered within the recently ablated eastern face of a glacial valley, on new claims staked by the Company in January 2018 .
- An up to 1.25-metre-wide quartz vein was mapped and sampled containing semi-massive chalcopyrite, pyrite and bornite mineralization which was traced on surface for approximately 70 metres along strike . Rock sample results from this new bedrock showing include: sample number X516911 (1m chip sample), 6.45% Cu, 162g/t Ag, 0.11g/t Au, and 1079ppm Zn; sample number X516974 (1m chip sample), 4.11% Cu, 160g/t Ag, 0.52g/t Au, and 1449ppm Zn; sample number X516973 (outcrop sample) 3.96% Cu, 87.6g/t Ag, 0.20g/t Au; and sample number X516912 (1m chip sample), 2.95% Cu, and 53.6g/t Au .
- PORT 19 SHOWING – The Port 19 showing is a historic prospect that was rediscovered in 1994 and was prospected and geologically mapped this past summer with significant results obtained in both soil and rock (grab) sampling, and it is a high priority target for further work, including drilling in 2019 . Soil and rock sampling were conducted over an area of approximately 2.5 by 1.4 kilometers, centered approximately 5.0 kilometers west-northwest of the Clone prospect . There has been significant glacial abatement over the showing since the 1990’s . Soil sampling results expanded on the known footprint of the Port 19 showing and were highly encouraging, including five samples with greater than 1g/t Au (8.33g/t, 6.68g/t, 3.7g/t, 1.66g/t, 1.61g/t) . Rock samples results returned copper values of 0.52%, 0.99%, 1.02% and 1.64% Cu, and the highest silver value of 220 g/t Ag was obtained from the Port 19 area . Previous (1994, Assessment Report 23986) quartz-sulphide veins were mapped with four rock samples over 40 meters strike length returning an average grade of 6.03 g/t Au and 14.7 g/t Ag . In total 17 samples were taken in 1994 with an average grade of 2.99 g/t Au with gold values ranging from 0.05g/t to 10.66g/t Au .
- OUTBOUND SHOWING – The Outbound showing was discovered and 1995 and explored in 1996, with sulphide and precious metal mineralization reported similar to the Clone prospect located approximately 3.0 kilometers to the northeast . The Outbound area covers an area approximately 2.0 by 1.0 kilometers and has seen extensive glacial ablation and reduction of snow pack in the last two decades . Prospecting in the summer 2018 program returned multiple rock samples returning in excess of 0.10 % Cu and a peak value of 0.56% Cu, silver values up to 132 g/t Ag, and gold values in soil samples up to 1.04 g/t Au . Further work is planned prior to drill testing in 2019 .
- CLONE PROSPECT – Limited sampling and prospecting was completed over the main Clone prospect area and sampling returned significant values including: 10.9 g/t Au, and 0.64 % Cu in rock samples, and peak values of 1.26 g/t Au and 1.66 g/t Au from soil samples . All existing infrastructure was inventoried and mapped in detail during the 2018 program and this data has been included in the application for a multi-year area-based drilling permit submitted in preparation for the 2019 drilling campaign .
Company president and chief executive officer, Mike England, stated: “With the discovery of the Southern Glory Prospect and the expansion of the Port 19 and Outbound Showings, it is becoming clear that an expanded and robust mineralizing system is present on the Clone Property . Compilation of the summer program continues, with the integration and correlation with the recently flown airborne geophysical survey, and the earlier long-wave infrared (LWIR) survey . Permitting is underway in preparation for an aggressive drill program for summer 2019.”
Ed Kruchkowski, PGeo, a qualified person under 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 Clone property .
All samples were logged and prepared by Sunvest Minerals personnel prior to shipment to MS Analytical’s sample preparation lab in Terrace, B.C . Assays were completed by MS Analytical at their Langley laboratory.
Rock assays are performed as per MS Analytical’s method IMS-117 (20g aliquot), with Au overlimits (>1ppm Au) completed using FAS-111 . Soil and silt assays are preformed as per MS Analytical’s method IMS-116 (0.5g aliquot) . Ore grade analyses were completed on Pb (STI-8Pb), S (SPM-210), Ag (ICF-6Ag), Cu (ICF-6Cu), Pb (ICF-6Pb), and Zn (ICF-6Zn) . The analytical results are verified with the application of industry-standard quality control and quality assurance procedures .
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).