Sunvest Discovers New Gold Zone on Mckinnon-Hawkins Property
April 11, 2017 (Source) — Sunvest Minerals Corp. (TSX-V: SSS) (“Sunvest Minerals” or the “Company”) is pleased to announce an update on the drilling program on the Mckinnon-Hawkins gold projects located in Hawkins and Walls townships, Ontario. To date thirteen (13) drill holes have been completed, comprising 1,624. 4 meters. Drilling has been paused for spring break-up and is expected to resume in May. To date, complete results have only been received for four (4) holes with assays pending on the remaining nine holes.
Most significantly, a new zone has been intersected in two holes located in the Hanging Wall to the north of the Main Zone. The McKinnon-Hawkins project Main Zone has a National Instrument 43-101 resource estimate of 239,100 ounces of gold (4,957,000 tonnes at 1.50 grams per tonne gold (g/t Au), at a cut-off grade of 0.5 g/t Au).
The new zone, designated as the “Taylor Extension”, located 70 to 90 meters north of the Main Zone, appears to parallel the approximately east-west strike of the Main Zone, and is open along strike, and at depth. The Taylor Extension represents a broad new mineralized environment and if as continuous as the Main Zone, has potential to add significant resources for the project.
TAYLOR EXTENSION DRILL INTERCEPTS (to date)
Hole HW-17-05, Section 716,050 E, intersected 0.78 g/t Au over 5.0 meters (including 2.29 g/t Au over 1.0 meter) from 51.0 meters. Anomalous gold values were intersected over 12.0 meters. The total hole length was 60 meters but will be extended as anomalous gold values were located at the end of the hole.
Hole HW-17-06, Section 716,000 E, intersected 1.19 g/t Au over 10 meters from 67.0 meters (including 2.28 g/t Au over 3.0 meters). The Taylor Extension zone values lie within anomalous gold values (+0.10 g/t Au) over a core length of 15. 8 meters. Total hole length is 93.4 meters.
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Company CEO Mike England commented, “The discovery of the Taylor Extension is a significant development for the Mckinnon-Hawkins project. Further drilling, prospecting and trenching will be directed at defining this new target. ”
Garry Clark, P.Geo, is a qualified person as defined by National Instrument 43-101 and is the independent qualified person responsible for reviewing and approving the technical contents of this press release as they pertain to the McKinnon-Hawkins gold project.
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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