VANCOUVER, BC / ACCESSWIRE / February 28, 2019 / Sunvest Minerals Corp. (TSX-V: SSS) (US: SRKZF) ("Sunvest Minerals" or the "Company") wishes to provide the following corporate update with regards to a phase I, 2019 drill program on its' flagship Clone Gold Project located in B.C.'s prolific Golden Triangle.
Sunvest Minerals technical team has had the opportunity over the past 18 months to compile and digitize both historic data in addition to results from the Company's 2018 field program at their Clone project. A 2019 field program at Clone has been approved by the Board which will include an initial phase I diamond drill program to test concepts pertaining to the main H zone. Concurrent with the drill program a geological team will be deployed to further ground-truth targets discovered last summer as well as to investigate a host of new prospects now visible due to recent glacial ablation on the Clone claims. Over the course of the summer these new targets meeting certain criteria will be prioritized with the objective of drilling the top prospect(s) at the end of the season. The company will provide additional updates regarding the 2019 field program over the coming months in anticipation for Sunvest Minerals inaugural drill program on the Clone.
"We are looking forward to an exciting field season at the Clone. Our technical team has been working extremely hard over the last 18 months to understand the Clone main zone as well as to take into account numerous never before seen targets uncovered by the retreating glaciers over the past 25 years since its initial discovery. Our understanding of the property is the best it has ever been and we are poised to build on discoveries made by our field crews in 2018 during our 2019 field campaign." stated Mike England, CEO of Sunvest Minerals.
The Company has received from, the Ministry of Energy, Mines and Petroleum Resources, an acknowledgement letter of the Notice of Work and Reclamation Program application being referred to other resource agencies and First Nation groups. Related to the Notice of Work and the planning drill program a bond has been set and posted, with final approval from the Ministry expected in the near-term. The Company acknowledges, with thanks, that we are on the shared traditional territories of the Nisga'a Nation.
The Company further announces it will no longer be proceeding with the Hemlo West property and will be issuing 200,000 common shares to the Vendors per the termination agreement.
About Sunvest Minerals
Sunvest Minerals Corp. is a junior exploration company engaged in acquiring and advancing mineral properties across Canada's top mining jurisdictions. The Company's flagship asset is the Clone high-grade gold project located in B.C's Golden Triangle. Sunvest Minerals is based in Vancouver, British Columbia, and is listed on the TSX-V under the symbol "SSS".
ON BEHALF OF THE BOARD
Mike England, CEO&DIRECTOR
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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).