Innovation Mining: Transforming Gold Mining with RZOLV — Safe, Cost-effective, High-performance alternative to Toxic Cyanide
Innovation Mining is disrupting the market and establishing itself as a leader in cleantech gold extraction through its RZOLV, a proprietary, non-toxic hydrometallurgical formula that’s sustainable, safe, and water-based alternative to cyanide. RZOLV addresses a long-standing industry challenge, enabling mining operations to transition toward sustainable and high-performance gold extraction without compromising profitability.
RZOLV offers similar cost and performance metrics as cyanide, but with a non-toxic, reusable and sustainable profile.
RZOLV allows efficient gold extraction that unlocks untapped resources. Innovation Mining is currently focused on validating its technology through a 100-tonne industrial test, after which full commercialization efforts will begin.
Company Highlights
- Innovation Mining has developed RZOLV, a proprietary, non-toxic hydrometallurgical formula for gold extraction. The formula offers a sustainable, safe, and water-based alternative to cyanide.
- RZOLV enables a seamless transition from cyanide without requiring additional infrastructure investments, making adoption cost-competitive and operationally efficient.
- The RZOLV formula has been tested on over 250 kilograms of ore, demonstrating high performance comparable to cyanide while eliminating toxic waste risks.
- Scalability and reliability: A 100-tonne leach test is planned within the next several months to further validate scalability and reinforce its economic and operational advantages for miners.
- Regulatory and social benefits: By removing cyanide from the process, RZOLV will simplify regulatory approvals, reduce compliance risks, and improve social licenses to operate, making it a future-proof solution for responsible mining.
- Enhanced ESG profile: Mining companies adopting RZOLV can significantly improve their environmental, social, and governance (ESG) standing, appealing to investors and stakeholders focused on sustainability and responsible resource development.
- Versatile gold recovery: RZOLV enables efficient gold extraction not only from traditional ores but also from low-grade ore, concentrates, and tailings, unlocking untapped resources.
This AInnovation Mining profile is part of a paid investor education campaign.*
Click here to connect with Innovation Mining to receive an Investor Presentation
Lode Gold Executes Agreement with Axiom to Initiate Drill Targeting Plan Focused on RIRGS Targets at WIN and Golden Culvert in Yukon
Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (“Lode Gold ” or the “Company”) is pleased to report it has engaged the services of Axiom Exploration Group Ltd. (“Axiom”) of Saskatoon, Saskatchewan. Axiom’s primary role will be to supply geological and field technical staff, along with equipment for our forthcoming field program. This program will target four distinct RIRGS (Reduced Intrusion-Related Gold System) prospects named Border, Steelhead, Stingray and Camp. Among these, the Border prospect on the WIN property is the most developed, exhibiting RIRGS-style gold mineralization in sheeted quartz veins hosted within hornfels, along with high bismuth to gold ratios. Our efforts will concentrate on this prospect, aiming to identify drill targets at Border for drill testing in the later part of the season. The entire operation will be overseen by Buddy Doyle, Gold Orogen’s Vice President of Exploration, a seasoned explorer with a 40-year career marked by numerous significant discoveries.
Axiom is well-positioned to execute this work effectively, leveraging its team of diverse geoscientists with extensive experience gained across Canada and internationally. The company’s professionals are equipped with cutting-edge industry knowledge and tools, ensuring the provision of reliable and accurate data. Additionally, Axiom’s in-house field equipment and established relationships with suppliers offer cost advantages through volume discounts, benefits that are typically unavailable to individual junior companies.
Left: Golden Culvert and WIN: 99.5 km² area spanning 27 km of strike length in the southern Tombstone Gold Belt. Four confirmed RIRGS targets highlight the district-scale potential of this high-grade gold trend Right: Boundary Zone Discovery Site: Gold-bearing sheeted quartz veins in hornfels-altered rock
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“We welcome the increased exploration investment and our ability to apply a systemic, technical approach to our prospective Golden Culvert and WIN properties, in particular the added opportunities provided by the recognition of RIRGS in addition to the known orogenic styles of mineralization in the area,” comments Jonathan Hill, Director and Head of the Technical Committee. “Prior exploration drilling has tested less than 10% of the overall >20km strike potential highlighted by our quality geochemical and geophysical datasets. We expect that the current work in 2025 will identify some compelling potential targets and progress them to initial drilling phases.”
The program is being executed in two stages. The first stage takes place at the Border prospect, a high-altitude site near an ice field that benefits from its close proximity to the all-weather Highway 10. The crews will map the extent of the sheeted quartz veins and collect channel samples across the vein system. Additionally, they will search for other vein swarms within the large hornfels roof pendant delineated by the QMAGT survey conducted in 2024. To maximize planning time for the drill program, samples will be expedited for gold assays to obtain rapid results. Concurrent work on other RIRGS targets is also planned, particularly during periods when weather conditions restrict access to the Border prospect.
Phase 2 is scheduled to commence in August 2025, featuring a 1400 m drill program consisting of seven holes, designed to test the targets generated during Phase 1.
About Lode Gold
Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.
In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1930’s.
Mining was halted in 1942 due the gold mining prohibition in World War Two (WWII) just as it was ramping up production. Unlike typical brownfield projects that are mined out, only 8% of the veins have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont.
The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.
Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment (“PEA”). A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV of USD $370M and a 31% IRR over an 11-year LOM. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.
All NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com)
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a “qualified person” as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
Cautionary Statement Regarding Forward-Looking Information
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.
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242650
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Forte Minerals Heads to PDAC 2025 Where Exploration Meets Opportunity
Forte Minerals Corp. (“Forte” or the “Company”) ( CSE: CUAU ) ( OTQB: FOMNF ) ( Frankfurt: 2OA ) is excited to announce its participation in the annual Prospectors & Developers Association of Canada ( PDAC ) Convention, happening March 2-5, 2025, at the Metro Toronto Convention Centre.
Join the Forte team at Booth 2736 in the Investor Exchange Pavilion, where copper, gold, and 2025 exploration plans take center stage.
Get an inside look at Forte’s growing portfolio of high-quality copper and gold assets in Perú and discover why industry leaders and investors are paying close attention.
President and CEO Patrick Elliott will be on hand with the technical team, ready to discuss upcoming drill programs, recent acquisitions, and what’s next in the company’s copper-gold pipeline.
And there’s more… A special guest from Perú will join the team at the booth. You won’t want to miss this!
ABOUT Forte Minerals CORP
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (” Cu “) and gold (” Au “) assets in Perú. Our strategic partnership with GlobeTrotters Resources Perú S.A.C. (” GTR “) grants us access to a comprehensive project pipeline, enabling us to target the most promising opportunities. This collaboration focuses on historically discovered, drill-ready targets, driving significant value in Cu and Au resource development.
On behalf of Forte Minerals CORP.
(signed) ” Patrick Elliott”
Chief Executive Officer
For further information, please contact:
Forte Minerals Corp.
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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Trillion Energy Announces Payment of Director Fees and Debt Settlements
Trillion Energy International Inc. (” Trillion ” or the “Company “) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces the issuance of an aggregate of 3,516,493 common shares of the Company in settlement of $204,436.07 in debt owed by the Company to directors, officers and consultants (the ” Debt Settlement “). Sean Stofer, Trillion’s Interim CEO & Chairman of the Board stated, ” I would like to thank the directors and employees who have opted to receive amounts payable to them in Shares. This is a show of confidence in Trillion as we continue to move forward aggressively with plans to recommence drilling and workovers on our projects”.
In connection with the Debt Settlement, an aggregate of 1,209,413 common shares of the Company were issued for 2024 directors fees and certain management services from directors and an officer of the Company (the ” Insider Settlement “).
The Insider Settlement is considered a “related-party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (” MI 61-101 “). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement based on that the fair market value of such insider participation does not exceed 25% of the Company’s market capitalization.
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedarplus.ca , and our website.
Contact
Sean Stofer, Chairman
Brian Park, VP of Finance
1-778-819-1585
E-mail: info@trillionenergy.com
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company’s ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedarplus.ca , and or request a copy of our reserves report effective December 31, 2023 and filed on April 25, 2024.
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NioBay Metals Intercepts Up to 22% Titanium (TiO₂) in its Drillings on Zone 1 of the Foothills Property
NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is proud to announce that it has intercepted titanium in several of the surface drill holes carried out in Zone 1, on the Foothills Property, located on the lands of the Séminaire de Québec.
The Company had filed an application for authorization for impact projects with the Ministry of Natural Resources with the aim of carrying out a drilling campaign as soon as authorization is received. Below, the Company provides the results of the TiO2 mineralized zones of interest, from the fall 2024 exploration campaign.
The Foothills project is located north of Saint-Urbain, 100 km north of Québec City and 90 km south of Saguenay (La Baie region), Québec. The project covers an approximate area of 285 km2 and includes five separate claim blocks. It covers most of the contact of the intrusive zone known as the Saint-Urbain anorthosite.
It should be noted that the drilling work generated 32.14 tonnes of CO2 equivalents. A donation was granted to Carbone Boreal (Université du Québec à Chicoutimi) as compensation.
Table of Results
Intersections calculated for a cut-off grade of 8% Ti, a minimum length of 1 m and a maximum internal dilution of 1 m.
| Drill Hole | From (m) | To (m) | Length (m) | Dilution (m) | TiO2 (%) |
| 1625-24-002 | 89.75 | 153.00 | 63.25 | 1.00 | 10.57 |
| 1625-24-002 | 185.00 | 186.80 | 1.80 | 0.00 | 17.09 |
| 1625-24-002 | 220.80 | 226.55 | 5.75 | 0.00 | 22.36 |
| 1625-24-003 | 135.25 | 149.00 | 13.75 | 0.00 | 12.62 |
| 1625-24-003 | 151.00 | 156.00 | 5.00 | 0.50 | 19.13 |
| 1625-24-003 | 172.30 | 180.00 | 7.70 | 0.00 | 14.44 |
| 1625-24-004 | 154.10 | 158.40 | 4.30 | 0.00 | 14.73 |
| 1625-24-006 | 16.50 | 18.80 | 2.30 | 0.00 | 9.22 |
| 1625-24-006 | 25.00 | 30.45 | 5.45 | 0.70 | 11.76 |
| 1625-24-006 | 37.00 | 38.00 | 1.00 | 0.00 | 8.01 |
| 1625-24-006 | 48.00 | 49.00 | 1.00 | 0.00 | 14.60 |
| 1625-24-007 | 44.20 | 47.00 | 2.80 | 0.00 | 11.14 |
| 1625-24-007 | 49.00 | 62.65 | 13.65 | 0.00 | 10.56 |
June 2024 prospecting area and sample locations
Map 2: Location of Drill Sites
Message from the President
“We are finally able to present our results from Zone 1. We were pleasantly surprised by the grade in certain holes. The next step will be to drill on a section of Zone 3. The application for authorization for this zone have been filed. Remember that sector 3 has demonstrated very good surface values in titanium (Press release of August 7, 2024)”, concluded Mr. David.
PDAC 2025
NioBay will be at PDAC again this year from March 2nd to the 5th inclusively, at the Toronto Convention Centre. Come meet us at booth 3015.
Qualified Persons
This press release has been reviewed and approved by Mr. Mikael Block, P.Geo., a Qualified Person under National Instrument 43-101. Mr. Block is a Project Manager employed by IOS Services Géoscientifiques.
About NioBay Metals Inc.
NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate.
In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation. The Company has also the option to acquire an 80% interest in the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Quebec.
About Titanium
Titanium (Ti) is as strong as steel, but much less dense. It is therefore important as an alloying agent with many metals, including aluminum, molybdenum and iron. These alloys are mainly used in aircraft and spacecraft because of their low density and ability to withstand extreme temperatures. They are also used in sports equipment, laptops, bicycles and medical prostheses. Recently, this metal has been used in some battery components.
Cautionary Statement
Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company’s plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc.
Jean-Sébastien David, P.Geo., MPM
President & CEO
jsdavid@niobaymetals.com
www.niobaymetals.com
Kimberly Darlington
Investor Relations
kimberly@refinedsubstance.com
Tel: 514-771-3398
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/29b6747d-ce60-40ad-b263-edd85dcc6921
https://www.globenewswire.com/NewsRoom/AttachmentNg/79550acc-c4ce-4e20-ae0d-13463ccafa16
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Sun Summit Announces Inaugural Mineral Resource Estimate on the Buck Project, Central B.C.
Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) (“Sun Summit” or the “Company”) is pleased to report the results of its inaugural Mineral Resource Estimate (“MRE”) for the Company’s 100% owned Buck Project in central British Columbia.
Highlights:
- Indicated Mineral Resources at Buck Main are estimated to include 19,100 gold equivalent ounces1 (oz AuEq) (18,300 oz gold and 158,000 oz silver) at a grade of 0.519 g/t gold equivalent1 (g/t AuEq) (0.496 g/t Au, 4.3 g/t Ag) contained within 1.15 million tonnes (Mt).
- Inferred Mineral Resources at Buck Main are estimated to include 820,400 oz AuEq1 (775,500 oz gold and 8,435,000 oz silver) at a grade of 0.489 g/t AuEq1 (0.462 g/t Au, 5.0 g/t Ag) contained within 52.2 Mt.
- The near-surface Mineral Resource at Buck Main is constrained within an optimized open-pit shell using a 0.25 g/t AuEq cutoff, ensuring reasonable prospects for economic extraction.
- Additional upside at Buck Main as the deposit remains open for expansion in most directions and at depth.
- Effective discovery with average drill costs of CAD $18 per ounce of AuEq included in the MRE.
Notes:
1. Gold Equivalent (AuEq) grade is based on AuEq = Au + 0.0053*Ag (see notes to Table 1 below)
Niel Marotta, Sun Summit CEO commented: “This initial resource is a major milestone for Sun Summit and demonstrates the significant gold-silver potential of the Buck Main deposit. Sound and aggressive infill drilling programs over the past three seasons have successfully achieved our goal of demonstrating the continuity of the resource in the central, high-grade area of the deposit. The deposit remains largely open at depth and along strike and future drilling will examine these areas for further expansion. The scale, grade, and potential economic viability of the Buck Main deposit provides a strong foundation for further expansion and reinforces the Company’s strategy of advancing this district-scale gold-silver asset in British Columbia.”
Buck Main Mineral Resource Estimate
Table 1. Summary of Indicated and Inferred Mineral Resources for the Buck Main deposit
| Class | AuEq Cutoff |
In Situ Tonnage and Grade | AuEq Metal |
Au Metal |
Ag Metal |
||||
| Tonnage | AuEq | Au | Ag | NSR | |||||
| (gpt) | (ktonnes) | (gpt) | (gpt) | (gpt) | ($CDN) | (kOz) | (kOz) | (kOz) | |
| Indicated | 0.25 | 1,148 | 0.519 | 0.496 | 4.3 | 40.40 | 19.1 | 18.3 | 158 |
| Inferred | 0.25 | 52,224 | 0.489 | 0.462 | 5.0 | 38.04 | 820.4 | 775.5 | 8,435 |
Notes to the 2025 Resource Table:
- Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines, as required National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)
- The base case Mineral Resource has been confined by “reasonable prospects of eventual economic extraction” shape using the following assumptions:
- Metal prices of US$2250/oz Gold, US$26/oz Silver
- Metallurgical recovery of 79% Gold and 38% Silver
- Payable metal of 95% Silver, 99% Gold in dore
- Forex of 0.72 $US:$CDN
- Offsite costs (transport, smelter treatment and refining) of CDN$8.50/oz Gold and CDN$0.25/oz Silver.
- Processing Costs of CDN$12/tonne milled and General & Administrative (G&A) costs of CDN$ 2.50/ tonne milled
- Mining cost of CDN$2.56 / tonne for mineralized material and CDN$2.50/tonne for waste
- 45-degree pit slopes
- The 120% price case pit shell is used for the confining shape
- The resulting net smelter return (NSR) for the purpose of the AuEq calculation = Au*CDN$98.60/g*79% recovery rate + Ag*CDN$1.08/g*38% recovery rate
- The resulting AuEq = Au + 0.0053*Ag
- Numbers may not add due to rounding
- Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the estimated mineral resources will be converted into mineral reserves.
The Mineral Resources for the Buck Main deposit has been estimated using a 0.25 g/t AuEq cutoff determined using assumptions listed in the footnotes of Table 1. These assumptions satisfy the requirements of reasonable prospects for eventual economic extraction. Table 2 shows cutoff sensitivities at different grades.
Table 2. Buck Main deposit cutoff sensitivities
| Class | AuEq Cutoff |
In Situ Tonnage and Grade | AuEq Metal |
Au Metal |
Ag Metal |
||||
| Tonnage | AuEq | Au | Ag | NSR | |||||
| (gpt) | (ktonnes) | (gpt) | (gpt) | (gpt) | ($CDN) | (kOz) | (kOz) | (kOz) | |
| Indicated | 0.2 | 1,604 | 0.435 | 0.414 | 3.9 | 33.85 | 22.4 | 21.3 | 203 |
| 0.25 | 1,148 | 0.519 | 0.496 | 4.3 | 40.40 | 19.1 | 18.3 | 158 | |
| 0.3 | 852 | 0.605 | 0.580 | 4.6 | 47.09 | 16.6 | 15.9 | 126 | |
| 0.35 | 645 | 0.695 | 0.669 | 5.0 | 54.12 | 14.4 | 13.9 | 103 | |
| 0.4 | 494 | 0.793 | 0.765 | 5.4 | 61.76 | 12.6 | 12.1 | 85 | |
| 0.5 | 317 | 0.989 | 0.957 | 6.0 | 76.99 | 10.1 | 9.8 | 61 | |
| 1 | 91 | 1.783 | 1.743 | 7.5 | 138.87 | 5.2 | 5.1 | 22 | |
| Inferred | 0.2 | 70,847 | 0.419 | 0.394 | 4.7 | 32.60 | 953.5 | 897.2 | 10,617 |
| 0.25 | 52,224 | 0.489 | 0.462 | 5.0 | 38.04 | 820.4 | 775.5 | 8,435 | |
| 0.3 | 39,248 | 0.560 | 0.532 | 5.3 | 43.60 | 706.5 | 670.9 | 6,721 | |
| 0.35 | 30,088 | 0.632 | 0.602 | 5.6 | 49.21 | 611.3 | 582.5 | 5,419 | |
| 0.4 | 23,644 | 0.703 | 0.671 | 5.9 | 54.71 | 534.0 | 510.3 | 4,477 | |
| 0.5 | 15,697 | 0.833 | 0.800 | 6.3 | 64.87 | 420.4 | 403.6 | 3,171 | |
| 1 | 3,126 | 1.485 | 1.440 | 8.5 | 115.64 | 149.2 | 144.7 | 857 |
The Buck MRE is centered on the Buck Main deposit, 12 km south of Houston, BC. The road accessible deposit comprises a broad, 800 metre striking zone of intermediate-sulfidation epithermal-related gold-silver mineralization hosted in intermediate to felsic volcanics and intrusions. The MRE is based on 42,440 metres of drilling in 161 holes, of which 34,386 metres in 98 holes were completed by Sun Summit between 2020 and 2023 (Figure 1, Figure 2, Table 3).
Table 3. Drill data used in the Mineral Resources Estimate
| Year | Total Number of DHs |
Total Depth (m) |
Length Assayed (m) |
Total % Assayed (m) |
Number of DHs within Domains |
Assayed Within Modelled Domains (m) |
% Assayed within the Domains |
| Total | 161 | 42,440 | 39,737 | 94% | 123 | 27,034 | 99% |
Figure 1: Buck Main Drilling and Resource Pit Outline
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Figure 2: Buck Main 3D View of Resource Constraining Pit showing AuEq blocks above 0.2 g/t
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The effective date of the MRE, completed by Moose Mountain Technical Services is January 28, 2025. The Company will file a National Instrument 43-101 (NI 43-101) technical report on SEDAR+ within the mandated 45-day period following the date of this press release.
Gold and silver mineral resources were estimated as follows:
- Wireframing of overburden and mineralized domains based on geology.
- Assay capping based on Cumulative Probability Plots (CPPs).
- Compositing of assays to 3m lengths based on the domains.
- Variography to determine the anisotropy of the Au and Ag within each domain.
- Block model interpolations by inverse distance cubed (ID3).
- Classification of the resource to Indicated and Inferred based on the variography.
- Creation of confining pit shape based on industry standard prices and comparable costs.
Discovery Metrics
Sun Summit has efficiently delineated the Buck Main deposit with a total drilling cost of approximately CAD$18 per AuEq ounce included in the MRE. Since 2020, the Company has completed 98 drill holes at Buck Main, totaling over 36,400 meters. The MRE was informed by assay results from 123 drillholes and 27,034 metres of assayed intervals. The Company incurred CAD $15 million in drilling expenditures since 2020.
The low discovery cost reflects the efficiency of Sun Summit’s exploration strategy, which included systematic targeting using advanced geological modeling, geophysical surveys, and geochemical analysis. This exploration success underscores the strong potential for further resource growth, as the deposit remains open in multiple directions.
Next Steps
- Additional metallurgical testing will be initiated to optimize metal recoveries and evaluate potential byproduct elements, ensuring the economic viability of future mining operations.
- Further drilling designed to investigate the extents of the Buck Main deposit is recommended. Areas open to the north, west, and east will be targeted in future drill programs.
National Instrument 43-101 Disclosure
The Buck Main MRE was prepared by Sue Bird, M.Sc., P.Eng., V.P. of Resources and Engineering at Moose Mountain Technical Services, an independent Qualified Person as defined by NI 43-101. Sue has also reviewed and approved the technical information about the MRE in this news release.
This news release has been reviewed and approved by Sun Summit’s Vice President Exploration, Ken MacDonald, P. Geo., a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr. MacDonald has verified the data disclosed in this press release pertaining to the MRE, including the sampling, analytical and test data underlying this information that has been collected by Sun Summit. Verification procedures include industry standard quality control practices. Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The historical technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.
Mineral resources that are not mineral reserves do not have demonstrated economic viability; however, a reasonable prospect of eventual economic extraction pit has been used to confine the Resource Estimate using parameters detailed in the table notes.
The QP for the Mineral Resource estimate is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the potential development of Mineral Resource Estimate. Factors that may affect the estimates include: metal price assumptions, changes in interpretations of mineralization geometry and continuity of mineralization zones, changes to kriging assumptions, metallurgical recovery assumptions, operating cost assumptions, confidence in the modifying factors, including assumptions that surface rights to allow mining infrastructure to be constructed will be forthcoming, delays or other issues in reaching agreements with local or regulatory authorities and stakeholders, and changes in land tenure requirements or in permitting requirement.
Upcoming Events
Sun Summit Minerals Corp. is also pleased to announce its participation in two key events in Toronto. The Company will join the Precious Metals Summit Conferences One-on-One Meeting program on March 3-4 and exhibit at the Prospectors & Developers Association of Canada (PDAC) Convention on March 4-5 at Booth 2412B. Sun Summit’s new CEO, Niel Marotta, and Executive Chairman, Brian Lock, will be available to share insights into the Company’s strategic direction and highlight recent project developments.
Community Engagement
Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.
About the Buck Project
The Buck Project is situated in a historic mining district near Houston, B.C., with excellent nearby infrastructure that allows for year-round, road-accessible exploration.
The project is host to the Buck Main intermediate-sulfidation epithermal-related gold-silver-zinc system. Most of the mineralization drilled to date at Buck Main consists of long, continuous zones of disseminated and breccia-hosted, bulk tonnage-style gold-silver-zinc. Vein-hosted, high-grade mineralization has also been intersected near the center of Buck Main.
Exploration at the Buck Project is focused on investigating the lateral and vertical extent of gold-silver-zinc mineralization at the Buck Main system, and to define additional drill targets across the entire land package through systematic exploration programs.
About Sun Summit
Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on expansion and discovery of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD Project in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.
Further details are available at www.sunsummitminerals.com.
Link to Figures
On behalf of the board of directors
Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com
For further information, contact:
Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226
Forward_Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, estimates of mineral resources, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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.