x

Join Our Mailing List

Enter your email below to sign up to receive the latest Sunvest Minerals news releases.

Please check your email to confirm your subscription.
Email invalid or already exists.
Your email has been successfully added - Thanks for subscribing.

NEWS RELEASE

SUBSCRIBE TO UPDATES

SUNVEST ACQUIRES THE ROY COBALT-SILVER PROPERTY

Sunvest Minerals Corp. has acquired the past-producing Roy mine cobalt-silver property, located about 11 kilometres northwest of Elk Lake. The Roy mine property is a former producer of silver, cobalt and copper with mineralization contained in north-trending calcite veins. It was discovered in 1912, and past development included three vertical shafts and underground and surface diamond drilling.

More recent works uncovered a vein about 210 metres north of the shaft. Fifty-five samples taken along this vein averaged 0.7 ounce per ton silver (24.0 g/t Ag), 1.64 per cent Co, 3.22 per cent Cu and 0.16 per cent nickel. Best values obtained were 4.7 ounces per ton Ag (161.1 g/t Ag), 7.4 per cent Co, 14.02 per cent Cu and 0.55 per cent Ni. Also, a grab sample of the vein, collected near the shaft and to the south, assayed up to 6.80 ounces per ton Ag (233 g/t Ag), 1.96 per cent Co, 13.6 per cent Cu and 1,510 parts per million Ni.

Sunvest president and chief executive officer Gordon Zelko commented: "The acquisition of a past-producing cobalt/silver mine gives us a great head start as far as work programs go. We anticipate commencing a work program shortly."

The cumulative acquisition terms to acquire a 100-per-cent interest in the Roy mine property are the issuance of 1.5 million shares of the company to arm's-length parties over a one-year period plus a work commitment of $50,000 in year one. A 2-per-cent net smelter return (NSR) will be granted to the vendors with 1 per cent purchasable by the company for $1-million. The acquisition is subject to TSX Venture Exchange approval. A finder's fee will be payable in accordance with TSX Venture Exchange policies.

The technical contents of this release were approved by Isabelle Robillard, MSc, PGeo, a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.

We seek Safe Harbor.

Corporate

Sunvest Minerals Corp.
1240-789 W Pender St.
Vancouver, BC, V6C 1H2

TEL +1-604-683-3995
TOLL FREE +1-888-945-4770
FAX +1-604-683-3988
EMAIL INFO@SUNVESTMINERALS.COM

Contact Us

Thanks for contacting us!
Please enter a message.