Sunvest Minerals Corp. Drilling to Commence on the Evening Star Property, Nevada
TSX VENTURE: SKYG
Vancouver, British Columbia (FSCwire) - Sunvest Minerals Corp. (TSX-V: SSS) ("Sunvest Minerals" or the “Company”) reports it is mobilizing crews to commence a drill program on the Evening Star Property, located 16 kilometers southeast of Hawthorne, Nevada. Sunvest has contracted Altar Drilling Inc. based out of Tucson, Arizona, to perform the diamond drill program.
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. The Property is prospective for copper, gold, silver, lead, and zinc mineralization in favourable volcanic, intrusive and limestone sedimentary host rock units. The Evening Star property is located approximately 3.2 km northeast of Newrange Gold Corp.'s recent drill activity on the Merritt zone and Merritt decline area on the Pamlico property.
Activities by the Company in June 2017 on the Evening Star property comprises a modest diamond drill program of 222.3 meters in two holes. Both holes intersected copper mineralization, with hole ES17-02, returning:
- 17.5 feet (5.3 metres) averaging 0.84 g/t Au, 105.3 g/t Ag, 5.09 per cent Cu, 0.09 per cent lead (Pb) and 0.86 per cent zinc (Zn).
Due to time constraints with the drilling contractor, only two short holes were completed at this time. Hole ES 17-01 intercepted anomalous copper from a depth 9.8 meters, of 0.19 per cent Cu over a 2.9 meter drill width, and from a depth of 17.3 meters, 0.19% Cu over a 3.0 meter drill width.
Historic drilling completed by Phelps Dodge Mining Co. in 1991, on the property, was focused primarily on copper mineralization with the following intersections:
- Hole 91-3, from a depth of 42.7 meters, returned 0.24 % Cu over a 15.2 meter drill width;
- Hole 91-4, from a depth of 19.8 meters, returned 1.75 % Cu, over a 12.2 meter drill width;
- Hole 91-5, from a depth of 42.7 meters, returned 0.16% Cu, over a 7.6 meter drill width.
Assay information is incomplete for the Phelps Dodge drilling respect to gold and silver values.
The current proposed drill program will comprise 650 to 1,000 meters of diamond drilling, in 3 to 4 holes, with a primary focus on area where a single 1970 drill holes (D-E-01) returned:
- significant intercepts of 6.1 metres 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).
- Hole D-E-01 had a wide halo of copper, lead, zinc and silver mineralization, from a depth of 3.4 meters averaging 0.22% Cu, 84.3 g/t Ag, 3.24 % Pb and 1.41 % Zn. Note, hole D-E-01 was not assayed for gold. The geologist on drill hole E-D-01, H. G. Agnerian, has visited the site on behalf of the Company in February 2017, and is a consultant to the Company.
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 a better understanding of the geology and various styles of mineralization, we are eager to commence drilling on the target discovered by the 1970 drill hole E-D-01. Sunvest's Evening Star property represents a strategic, significant land position in the very active Pamlico mining district.” stated Mike England, CEO of Sunvest.
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
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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).