Success! Sunvest Minerals exploration yields high copper values and gold and silver grades
In the same quarter that copper surged to three-year highs, and the price of gold began a bullish rampage that appears to know no bounds, a drill project completed by Sunvest Minerals Corp. (TSXV: SSS) (“Sunvest”) on their Evening Star property returned high copper values of up to 7.45%, as well as gold and silver grades of up to 1.81 g/t and 138 g/t respectively. Sunvest are chiefly focused on pursuing the development of copper, cobalt, gold and silver resources, the markets for all of which are looking extremely healthy this fall and beyond.
The Evening Star property is located in west central Nevada, in Mineral County, and is comprised of 43 unpatented mineral lode claims totaling 660 acres. Having confirmed significant precious metal values within the copper and base metals mineralization, a short surface program will begin soon and the company are permitted for additional drilling which is expected to recommence shortly.
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These results follow impressive grab sample and drilling at the company’s McKinnon Hawkins project which returned values of up to 33.5 g/t Au. The main zone of the resource has a NI 43-101 estimate of 239,100 ounces of gold (4,957,000 tonnes at 1.50 g/t Au), and, significantly, the team intersected an entirely new gold-bearing region in two holes located to the north of the main zone.
The new area, designated as the “Taylor Extension”, appears to approximately parallel the east-west strike of the Main Zone and is open along strike and at depth. The Taylor Extension represents a broad new mineralized environment which has returned sample values including 2.28 g/t Au over 3.0 meters; if the team proves the area to be as continuous as the main zone, it has serious potential to add significant resources to the project.
This should be no problem for the Sunvest ensemble; one of the company’s directors is the son of Don McKinnon himself. Don Mckinnon Sr was one of the men who discovered Ontario’s fourth largest mining camp, Hemlo, in 1981, and his son has been involved in the mining exploration industry from a very young age, managing all aspects of exploration including property acquisition, grass roots exploration and overseeing projects up to the development stage.
Mr McKinnon is joined by a team with exceptional experience in the industry led by Victor Bradley (chairman of the board and director). Over the past 30 years Bradley has founded, financed and operated several mining and advanced stage companies, including Yamana Gold Inc., Aura Minerals Inc. and Nevoro Inc. (sold to Starfield Resources). He was chairman of Osisko Mining Corp. until its $3.9 billion sale in 2014; Osisko managed to crack open a porphyry gold structure at Malartic, Quebec, creating the largest open pit gold mine in Canada.
Clearly, management are more than capable of taking these projects to production, and possibly even in time to catch the top end of the current metals bull run. Anyone who’s been watching the ascent of gold recently will be aware that it recently traversed the $1,350/oz resistance on the back of continuing geopolitical tensions and a tumbling dollar, but copper has had a similarly bullish year, seemingly recovering entirely from its post-recession correction period and steaming ahead amid renewed global construction efforts. Any investor looking for a truly long position on both gold and copper should consider Sunvest’s share price as having upside potential, as their recent additions create potential for considerable resource expansion.
Lara Smith has spent over a decade covering commodity markets. She started her career as a buyside analyst in South Africa where she covered soft ... <Read more about Lara Smith>