Sunvest Minerals Corp.: Drill Hole HW-17-13 Returns 1.38 g/t Au over 23.0 Meters in Newly Discovered Taylor Extension Zone
May 2, 2017 (Source) — Sunvest Minerals Corp. (TSX-V: SSS) (“Sunvest Minerals” or the “Company”) is pleased to announce an update on results from the winter diamond drill program (13 holes 1624 metres, PR April 11, 2017) on the Mckinnon-Hawkins gold projects located in Hawkins and Walls townships, Ontario. Hole HW-17-13 returned an intersection from 63.0 meters averaging 1.38 grams of gold per tonne (g/t Au) over 23.0 metres, including grades of 2.89, 4.12 and 11.2 g/t Au over one meter intervals.
The new zone, The Taylor Extension, is open along strike and at depth indicating a broad new mineralized environment parallel and approximately 100 metres north of the Main Zone. The Main Zone is a continuous mineralized trend and if the Taylor Extension zone is similar it could add significantly to the resource potential of the project.
The Taylor Extension Zone has now been intersected over a 300 meter strike length (from Section 715,750 north to Section 716,050 East), trending approximately east-west, located in the Hanging Wall (north of), 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).
Company CEO Mike England commented, “With a wider (23.0 meter) and higher grade interval, the new Taylor Extension zone is a significant development for the Mckinnon-Hawkins project. Assays are still pending and further drilling, prospecting and trenching will be directed at defining this new target immediately.”
Hole HW-17-13 is located on Section 715,750 East, approximately 250 meters west of Hole HW–17-06 that intersected 1.19 g/t Au over 10 meters from 67.0 meters (including 2.28 g/t Au over 3.0 meters) (PR April 11, 2017). This zone is interpreted as the Taylor Extension. The large step out was completed to take advantage of the frozen conditions allowing testing of a swampy low area on the projected strike. The 250 meter intervening area will be evaluated for potential trenching and sampling followed by drilling, once weather permits.
Hole HW-17-13 was drilled due north, at -50° dip for a total depth of 118.0 metres. Drilling on both sections are with single holes to the north, so the dip of the new mineralized zone is unknown, but if it is similar to the Main Zone (steeply, near-vertical dip), then both intersections could represent an estimated true widths of 85 – 90 % of the drill intersections.
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Exploration work will recommence shortly, subject to weather conditions. The drill rig remains on the property. In addition to recommencing drilling, the Company is proposing to expand the baseline to the east from Section 716,050 East, to cover the Culbert-Dubroy Showing, approximately 4.0 kilometers due east. Historic sampling from the Culbert-Dubroy Showing, reported in assessment files (42B13NE0210-1988), ranged from 0.013 to 25.75 g/t Au (six surface grab sample 0.013, 0.24, 3.67, 7.75, 24.51 and 25.75 g/t Au). Prospecting, trenching, sampling and geological mapping will be conducted on the Culbert-Dubroy showing area, the interval between the prospects and the Taylor Extension drill intercepts.
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 pertaining 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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