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MCKINNON HAWKINS CHANNEL SAMPLES YIELD UP TO 18 GRAMS PER TON GOLD
Vancouver, British Columbia – November 10, 2016 – Sunvest Minerals Corp. (TSX-V: SSS) ("Sunvest Minerals" or the “Company”) is pleased to report recently received surface sample results from the Goldfields Prospect on the Mckinnon-Hawkins Project, located in Hawkins and Walls Townships, Ontario. The sampling was completed to verify previous (2015) sampling by the vendor of the property (NR 2016-09-07). Two known zones of mineralization were chip channel sampled, with the south zone returning 18.46 grams per tonne gold (g/t Au) over 2.5 meters (five 0.5 metre samples), and the northern zone returning 15.58 g/t Au over 1.5 meters (three 0.5 meter samples). The Goldfields Prospect is located on the western portion of the Mckinnon-Hawkins gold Project.
“The confirmation of high grade gold mineralization located away from the inferred resource is very positive. With some further geology work, we will identify additional prospective targets for our upcoming diamond drill program at the McKinnon Hawkins Gold Project.” stated Mike England, CEO of Sunvest Minerals.
The recently acquired McKinnon-Hawkins Gold Project has Inferred Resources of 4,957,000 tonnes at 1.50 g/t Au (239,100 ounces of contained gold) at a cut-off grade of 0.5 g/t Au, as prepared by Eugene Puritch, P.Eng., President of P&E, an independent “Qualified Person”, for the purposes of NI 43-101. The Goldfields prospect is located approximately 6 kilometers southwest of the western extent of the inferred resource area.
The outcrop site sampled had previously been channel sampled in 2015 using a portable gas powered diamond rock saw. The current samples were obtained by sampling the channel edges, over the same 0.5 meter intervals. All samples were taken by Company personnel, and tables of all samples will be posted on the Company’s website. The host rock is very strongly silicified, folded and foliated amphibolite. The visible mineralization at the Goldfield prospect comprises finely disseminated pyrite-pyrrhotite associated with a steep, west-plunging structure. In weathered exposure, the mineralization is illustrated by a weak to moderate oxidation of the host rock. In the area of the surface samples, previous exploration has included five, southeasterly trending, shallow drill holes (1989). Only one of these holes returned significant values (HK89-01, 5,01 g/t Au over 1.7 meters, from a depth of 15.3 meters). The lack of geological understanding of the intensely folded and subtle nature of the mineralization warrants additional investigation.
During the site visit, Company personnel also visited the surface features comprising trenches, drill hole collar locations and mineralized outcrops of the Main Zone that hosts the inferred resources, which extends in an east-west direction, over a strike length of 3.7 kilometers. The Company has filed a 43-101 technical report supporting the mineral resource estimate with the regulatory agencies for approval. Once approved the technical report will be accessible on the company’s website.
Garry Clark, P. Geo, is the independent qualified person responsible for the Company’s McKinnon - Hawkins Property and has reviewed and approved the technical contents of this press release as they pertain to the McKinnon - Hawkins Property.
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.
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).