Sunvest Minerals Corp. Drilling Started On the Evening Star Property, Nevada
June 22, 2017 (Source) – Sunvest Minerals Corp. (TSX-V: SSS) (“Sunvest Minerals” or the “Company”) is pleased to report significant developments resulting in the commencement of a maiden diamond drill program, on the Evening Star Property, located 12 kilometers southeast of Hawthorne, Nevada. The Evening Star property comprises 43 claims covering 820 acres (323 ha) in the prolific Walker Lane Structural Zone of the west-central part of the state.
Recent developments include:
- The Notice of Work permit was recently received from the Bureau of Land Management (BLM), and a reclamation bond has been posted, and a diamond drilling program has commenced;
- The initial target is focused on the semi-massive to massive sulphide (zinc-lead-silver) mineralization that does not outcrop, but was intersected in a 1970 diamond drill hole with significant intercepts of 6.1 meters (“m”) averaging 408 grams per tonne silver (11.88 ounces per ton silver), 14.88 per cent lead, 4.7 per cent zinc and 0.16 per cent copper, from a depth of 48.3 m, and a second intercept of 18.6 m, averaging 277.8 grams per tonne silver (8.10 ounces per ton silver), 9.73 per cent lead, 5.36 per cent zinc and 0.27 per cent copper, (see press release dated Dec. 1, 2016).
- The Company has recently purchased a data package on the Evening Star property, which has assisted the geological interpretation. Included in this package was a complete report by H. G. Agnerian on the 1970 diamond drill program. Also included was a geological map and cross sections (with assays) completed by Phelps Dodge Mining Co., (“Phelps Dodge”) in 1991, on the property.
- Copper was the primary focus of the Phelps Dodge program, with most drill holes directed at the copper oxide mineralization on the Gold Bug target, however hole 91-4 intersected 12.2 m interval averaging 1.75 % copper. This hole plots higher then the 1970 drill hole, and is interpreted to represent the upper extent of the semi-massive to massive sulphide target. Hole 91-4 also averaged 0.45 grams per tonne gold over a width of 7.6 m, from a depth of 21.3 m. This represents the first indication of gold values in this target, as the 1970 core was not assayed for gold.
The reader is cautioned that these historic results were completed prior to the implementation of National Instrument 43-101, and must be considered only as a historic reference, and should not be relied upon. Neither the Company nor its qualified persons have done sufficient work to classify or verify this historic drill hole.
“With the receipt of our drill permit and the information from the recently acquired data package, Sunvest has moved quickly to mobilize a diamond drill program to test targets on the Evening Star property. The Evening Star property has excellent logistics and can readily be worked year-round.” stated Mike England, President of the Company.
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
ON BEHALF OF THE BOARD
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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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