Sun Metals Issues Correction To October 3 Press Release
Press Release
October 17, 2019
Vancouver, B.C. – Sun Metals Corp. (“Sun Metals” or the “Company”) (TSXV: SUNM) wishes to correct its disclosure of assay results for drill hole DDH19-SD-441M reported in its news release dated October 3, 2019.
The October 3, 2019 news release incorrectly stated the drill results from hole DDH19-SD-441M as follows
| Drill Hole Name | From (m) | To (m) |
Length (m)(1) |
Copper Gold Silver (g/t) Zinc (%) Copper Equivalent Gold |
|||||
| DDH19-SD-441M | 609.25 | 650.80 |
41.55 |
1.20 |
1.37 |
24.0 |
0.03 |
2.29 |
3.62 |
The following table reflects the actual drill results from hole DDH19-SD-441M:
| Drill Hole Name | From (m) | To (m) |
Length (m)(1) Copper Gold |
Silver (g/t) |
Zinc (%) Copper Equivalent Gold |
||||
| DDH19-SD-441M | 609.25 | 650.80 |
41.55 |
2.33 |
2.73 |
44.3 |
0.07 |
4.47 |
7.08 |
Corrected results in Bold
Corrected results in Bold
______________________________
(1)True widths of the reported mineralized intervals have not been determined
(2) Assumptions used in USD for the copper equivalent calculation were metal prices of $3.00/lb. Copper, $1,300/oz Gold, $18/oz Silver, $1.25/lb. Zinc and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.6319) + (Silver (g/t) x 0.0087) + (Zinc (%) x 0.4167). The following equation was used to calculate gold equivalence: AuEq = (Copper (%) x 1.5824 + Gold (g/t) + (Silver (g/t) x 0.01385) + (Zinc (%) x 0.6593).
The technical information contained in this news release has been reviewed, verified and approved by Ian Neill P. Geo., Vice President Exploration of Sun Metals, who is a qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects.
For more information, please contact Susie Bell, Investor Relations for Sun Metals at sbell@sunmetals.ca, (604) 697-4953, or Steve Robertson, President and CEO of Sun Metals, at srobertson@sunmetals.ca, (604) 697-4942.
On Behalf of the Board of Directors of
SUN METALS CORP.
Steve Robertson
Chief Executive Officer
Neither 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.
About Sun Metals
Sun Metals is advancing its 100% owned flagship, high-grade Stardust Project located in northcentral British Columbia, Canada. Stardust is a high-grade polymetallic Carbonate Replacement Deposit with a rich history. Sun Metals also owns the Lorraine copper-gold project (joint-ventured with Teck Resources Limited), and the OK copper-molybdenum project.
The Canyon Creek copper-gold skarn zone at Stardust was the subject of a 2018, NI 43-101 resource estimate included in a technical report titled “Stardust Project, NI 43-101 Technical Report” dated January 8, 2018. In that report, GeoSim Services Inc. provided the following estimate.
Stardust Project – Canyon Creek zone Mineral Resource Estimate(3):
| Resource Category |
Tonnes |
Copper % |
Zinc % |
Gold g/t |
Silver g/t |
% Cu Eq (3) |
|
Indicated |
985,000 |
1.34 |
0.62 |
1.59 |
36.8 |
2.92 |
|
Inferred |
1,985,000 |
1.24 |
0.14 |
1.72 |
30.5 |
2.65 |
(3) The cut-off grade used in the resource estimate was 1.5% copper equivalent (Cu Eq). Metal price assumptions for the Cu Eq calculation in this table were $3.00/lb Copper, $1.25/lb Zinc, $1,300/oz Gold and $18/oz Silver. Adjustment factors to account for differences in relative metallurgical recoveries of the constituents will depend upon completion of definitive metallurgical testing. The following equation was used to calculate copper equivalence: Cu Eq = Copper + (Zinc x 0.4167) + (Gold x 0.6319) + (Silver x 0.0087). A cut-off grade of 1.5% Cu Eq represents an in-situ metal value of approximately $100/tonne which is believed to represent a reasonable break-even cost for underground mining and processing. These are not mineral reserves and no work has been completed that demonstrates economic viability at the Project.]
For further information please visit Sun Metals’ website at www.Sunmetals.ca.
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