Sunvest Minerals Corp.: Surface Grab Samples Return 7.19 % Cobalt, 10.20% Copper and 71 G/T Silver from the Roy Mine Property, Elk Lake, Ontario
November 15, 2016 (Source) — Sunvest Minerals Corp. (“Sunvest” or the “Company”) (SSS-TSX:V) is pleased to announce the assay results from preliminary sampling during a recent site visit to the “Roy Mine Cobalt-Silver Property” (“Roy Mine Property”). Six grab samples were collected from dumps, stripped areas and historic trenches located nearby the main Roy Shaft and submitted to Activation Laboratories Ltd. (Actlabs Group), Timmins, ON for Cobalt (Co), Copper (Cu), Nickel (Ni) and Silver (Ag). Cobalt varied from 0.45 to 7.19% with an average value of 4.01%. Copper varied from 0.014% to 10.20%, with an average value of 4.00% (see table below).
|Lab #||Easting||Northing||Co %||Cu %||Ni %||Ag g/t|
Grab samples are selectively taken and random in size, and may not accurately represent mineralization characteristic of, or typical, the property. Company management is very pleased with the assay results on these samples, especially considering that one anomalous Co and Cu sample (1133053) was collected 265 meters north from the Roy shaft, in an area that was poorly investigated in the recent years.
The Company also wishes to report that additional staking has been completed on the Roy Mine Property, increasing the size of the property from 48 ha to 288 ha. The new claims cover several additional historic workings, showings and prospects such as the Little Ottisse shaft. Past exploration works in this area revealed abundant cross fracturing and considerable calcite vein material with cobalt mineralization.1
The technical contents of this release were approved by Isabelle Robillard, MSc, P.Geo a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
1. MacVeigh, E.L. 1964 Report on a geological Survey of the Tormont Mines Property in Farr Township, Elk Lake Silver Area, Ontario. 20 p.
The Roy Mine property is located 91 kms southwest of Kirkland Lake in the Larder Lake Mining District in northeastern Ontario. It was first developed in 1912 with 3 shafts that were sunk. It was later operated for cobalt in the early fifties by Roy Silver Mines Ltd, during which further underground development, such as the deepening of the main shaft and the drilling of surface and underground drill holes were undertaken.
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Sunvest Minerals Corp. is a junior mineral exploration company focused on seeking and acquiring mineral properties of merit. Sunvest continues to evaluate suitable properties in Canada and the U.S.A.
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 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).
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