NEWS RELEASESUBSCRIBE TO UPDATES
SUNVEST STAKES ADDITIONAL CLAIMS AND COMMENCES FIELD WORK PROGRAM AT HIGH GRADE CLONE GOLD PROPERTY IN GOLDEN TRIANGLE, BC
Vancouver, British Columbia – October 12th, 2017 – Sunvest Minerals Corp. (TSX-V: SSS) ("Sunvest Minerals" or the “Company”) reports it has completed an initial site examination and sampling program at its recently acquired Clone project located about 20 kilometers southeast of Stewart in the Golden Triangle region of northwestern British Columbia. Company personnel gained access to the property collecting a total of 11 samples, with several samples taken in freshly exposed areas due to the rapidly receding glaciers. Results are pending from these representative samples. A additional larger volume sample was also collected for future metallurgical work, focused on gold and silver recoveries. Additional studies will be conducted on type and recovery of the cobalt mineralization. Company personnel also located and examined the diamond drill core from previous exploration programs.
A further program is now being organized for the coming week to begin refining the analysis and interpretation of core stored in several locations in Stewart from previous drill programs on the Clone property. Company geologists will conduct selective core logging and re-sampling, and analysis.
The Company is pleased to announce a significant increase in the size of the Clone property by staking. The property has been increased by 47% and now totals 6,788 ha. The new claims comprise 5 claims and 2,168 ha, and covers two Minfile showings, the Golden Wish prospect and the Glory showing. The Glory showing returned a grab sample from a quartz vein assayed 1.15 per cent copper, 24.2 grams per tonne silver (g/t Ag) and silver and 0.38 g/t gold (Au) (Assessment Report # 24745). The Golden Wish prospect assayed 0.785 g/t Au and 1.6 g/t Ag from a quartz vein in Lower Jurassic Hazelton Group sediments. Both prospects have seen little work since the late 1990’s and both have had significant new outcrops exposed due to receding glaciers (Assessment Report #25327).
“We are pleased to have visited the site and examined the previously drilled core on the Clone Property, and look forward to additional activities in the short term. We have been able to significantly increase the property size, covering two mineralized showings that warrant more work.” stated Mike England, CEO of the Company.
High-grade gold and gold-cobalt mineralization was discovered by Teuton-Silver Grail prospectors in 1995 within a series of shears exposed over a strike length of 500 meters and a vertical range of 130 meters. Trenching of the shears returned values ranging up to 3.59 oz/ton gold over 5.5m (18 feet). Significant cobalt values were found to accompany gold in the southeast portion of the zone.
MAIN ZONE (H ZONE) TARGET
- Trench Highlights - Trenching of the shears returned values ranging up to 123.1 grams/tonne (g/t) Au over 5.5 meters. Significant cobalt values were found to accompany gold in the southeast portion of the zone
- Drill Highlights - The best drill hole was Hole #110 which contained a 10.0 meter interval averaging 43.9 g/t Au
- Bulk Sample Highlights - In 2010 a bulk sampling program was completed at the high-grade portion of the H-1 zone. A total of 34 one ton samples were taken from the one-ton lots returned an average grade of 68.65 g/t gold. A larger bulk sample of 102 tons was then taken in 2011 and this averaged 137.1 g/t gold (4.0 oz/ton gold)
SA ZONE TARGET – Parallel to Main Zone
- Trench Highlights – trenching returned 3.0 meters averaging 135.3 g/t Au, with anomalous cobalt values
- Drill Highlights - Hole #18 into the S-2A contained a 6.0 meter intercept grading 52.5 g/t Au and 0.33% cobalt
- A 1990’s IP surveys indicated 13 anomalous areas that have not been tested
Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, is the independent qualified person responsible for reviewing and approving the technical contents of this press release as they pertain to the Clone 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).