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Sun Peak Metals Announces First Assay Results from 2024 Drill Program
VANCOUVER, BC / ACCESSWIRE / July 25, 2024 / As part of its goal in discovering significant Copp...
About this update from Sun Peak Metals Corp.
[{"type":"text","content":"Sun Peak Metals Announces First Assay Results from 2024 Drill ProgramVANCOUVER, BC / ACCESSWIRE / July 25, 2024 / As part of its goal in discovering significant Copper-Gold VMS deposits in northern Ethiopia, Sun Peak Metals Corp. (the \"Company\" or \"Sun Peak\") (TSXV:PEAK)(OTCQB:SUNPF) is pleased to report results from the first nine holes of its initial 2024 drill program on Sun Peak's extensive 1,450 sq km Shire Project in Ethiopia. The Company drilled 24 diamond drill holes, totaling 5,236 meters, testing the Terer and Hamlo VMS Targets, which are both located on the Terer Exploration License. The results confirm the effectiveness of Sun Peak's discovery methodology, and the Company is eager to resume drilling after the rainy season concludes in October.HighlightsTerer Target:Drill hole TR-002 intersected:18.46 meters of 1.34% copper-equivalent (\"CuEq\")including 9.80 meters of 2.13% CuEqand 8.71 meters of 1.04% CuEqDrilling has intercepted VMS style alteration and mineralization, including massive and semi-massive sulphide and sulphide stringer zonesThe Terer VMS zone is located 2 km west and directly along strike of the Anguda North gravity high anomaly, which will be tested in the next drilling phase.Hamlo Target:Defined a new VMS mineralized zone with extensive hydrothermal alteration, trending over 1 km along strike.Assay results received for the initial seven holes at Hamlo indicate a pyrite-rich VMS mineralized system, which appears to increase in metal content at greater depths. This is consistent with typical VMS metal zoning.Drill hole HM-006 intersected10.90m of 0.29 g/t Au and 1.36% Zn,including 4.88m of 3.04 % Zn.The drill results at Terer and Hamlo, combined with findings from Anguda South, confirm a significant VMS system extending over 10 km, validating the geological model and exploration methods used by Sun Peak. The VMS trend is supported by mapped VMS gossan outcrops, hydrothermal alteration zones, VTEM airborne geophysics, geochemistry, and gravity anomalies, including the large gravity target at Anguda North.Commenting on the results, Greg Davis, President and CEO stated, \"Combined with the results in the Sun Peak news release dated May 28, 2024, these first assay results from Terer and Hamlo demonstrate the effectiveness of Sun Peak's discovery methodology in uncovering valuable VMS deposits and we ...