Gold Explorer Launches High-Grade BC Drill Program

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Sun Summit Minerals Corp. (SMN:TSX.V; SMREF:OTCQB) has commenced its fully funded 2025 exploration program at the JD Project, located in the Toodoggone Mining District of north-central British Columbia. The program includes approximately 5,000 meters of diamond drilling targeting multiple high-grade and bulk-tonnage gold-silver zones across the 15,000-hectare property. 

The first drill hole is currently in progress at the Creek Zone, where up to 3,000 meters of drilling is planned. The program aims to evaluate the extent and continuity of near-surface mineralization. Historical and recent intercepts at the Creek Zone include 122.53 meters of 2.11 grams per tonne (g/t) gold (Au), including 1.5 meters of 121.0 g/t Au (hole CZ-24-0047), and 22.0 meters of 11.7 g/t Au including 4.0 meters of 61.2 g/t Au (hole CZ97-0085). 

Following the Creek Zone drilling, the campaign will shift to the Finn Zone with up to 2,000 meters planned. This area hosts a broad zone of epithermal-related gold-silver mineralization. Historic highlights from the Finn Zone include 35.7 meters of 7.26 g/t Au, including 1 meter of 215.4 g/t Au (hole JD95-0472), and 22 meters of 12.5 g/t Au, including 0.8 meters of 171.5 g/t Au (hole JD95-0642). 

Beyond drilling, project-wide exploration continues with geophysical surveys, soil sampling, geological mapping, and prospecting. Over 20 kilometers of induced polarization geophysics have been completed along the JD Porphyry Trend. Additionally, more than 1,000 soil samples have been collected across the Belle South grid and other areas of interest. Mapping efforts are currently focused on McClair Creek and have already been completed along the Finn to Creek corridor.

"It's exciting to see the drill rig turning on the first hole of our fully funded US$6 million exploration program," said Niel Marotta, CEO of Sun Summit, in a company news release. "This year's campaign is focused on advancing and expanding the Creek and Finn gold-silver targets, while also generating and refining new priority targets across the JD Project."

Sun Summit's JD Project lies in an emerging mineralized belt with access to infrastructure such as roads, hydroelectric power, and an airstrip. It is positioned near several notable properties, including those held by Thesis Gold, TDG Gold, and Centerra Gold.

Gold Sector Shows Continued Central Bank Demand and Market Resilience

According to a July 4 report from the World Gold Council, global central banks increased their gold purchases to 20 tonnes in May, up from 16 tonnes in April. Although this figure remained below the 12-month average of 27 tonnes, Marissa Salim, Senior Research Lead for APAC, stated that "fresh tensions in the Middle East may have reinforced the strategic appeal of gold for central banks looking to safeguard reserves against geopolitical shocks." The National Bank of Kazakhstan, the Central Bank of Turkey, and the National Bank of Poland each added significant volumes to their reserves, with Poland emerging as the largest buyer in 2025 to date. Meanwhile, the Monetary Authority of Singapore led the month's gold sales, reducing its holdings by 5 tonnes.

Salim also cited the World Gold Council's 2025 Central Bank Gold Reserves Survey, which found that 95% of respondents expected an increase in global central bank gold reserves over the next year. The percentage of institutions planning to boost their own holdings rose to 43%, compared to 29% in 2024. She noted that central banks in emerging and developing economies showed the strongest intent to increase reserves.

Kitco News reported on July 9 that gold prices remained stable above US$3,300 per ounce, supported in part by the U.S. Federal Reserve's decision to hold interest rates steady in June. The Fed's meeting minutes indicated that while most members preferred to wait for more economic data before adjusting rates, "a couple of participants noted that, if the data evolve in line with their expectations, they would be open to considering a reduction in the target range for the policy rate as soon as at the next meeting." Analyst Jeffrey Roach, Chief Economist at LPL Financial, remarked that "despite headwinds, the economy continues to trudge along, giving policymakers time to assess the projected impact from tariffs."

On July 11, Yahoo Finance reported that spot gold rose to US$3,321.68 per ounce as the U.S. dollar and Treasury yields softened. Nicholas Frappell, global head of institutional markets at ABC Refinery, said, "Gold bounced off a technical support level and also, the broader dollar declined." The article noted that lower bond yields can reduce the opportunity cost of holding non-yielding assets like gold, while a weaker dollar tends to make gold more affordable for international buyers.

Gold Exploration Activity Expands Across British Columbia's Toodoggone District

Gold exploration in British Columbia's Toodoggone District remained active, with significant capital commitments and resource development reported across the region in mid-2025.

*In a May 23 opinion, Technical Analyst Clive Maund called Sun Summit Minerals "extraordinarily attractive," citing its project locations, recent financing, and long-term trading history. He noted that the company's JD and Buck gold-copper projects in British Columbia were in "safe, mining-friendly, prolific" jurisdictions and positioned in the "sweetest of sweet spots on the Lassonde Curve."

Maund highlighted the JD Project's location in the underexplored Golden Horseshoe and emphasized its proximity to other active exploration sites. He pointed to the company's recently upsized CA$10 million financing as a sign of strong market interest and validation of its assets. From a technical perspective, Maund described the stock as historically undervalued, with recent increased volume suggesting accumulation by new investors. He concluded that Sun Summit's land position, jurisdiction, and funding made it well situated within a broader surge of exploration activity in British Columbia.

According to a June 30 research note from Ron Wortel, senior mining analyst at Couloir Capital, "Sun Summit Minerals Corp. launched a CA$6 million 2025 exploration program at the 15,000-hectare JD project, one of its two assets in British Columbia's Toodoggone Mining District." Wortel added that the program included 5,000 meters of drilling and various geophysical and geochemical surveys aimed at expanding known mineralized zones and generating new targets.

Wortel emphasized that the JD project's Creek and Finn zones were positioned along a 4.5-kilometer corridor, which he described as having "several prospects at and better grades than" those seen at other projects in the district. He explained that the JD project was part of a larger regional trend and wrote that the Creek-to-Finn strike shared similar geological characteristics with nearby advanced-stage deposits. Wortel also noted that the JD program was "fully financed," following a CA$10 million private placement in June that was upsized from CA$3.5 million and exceeded the company's market capitalization prior to the raise.

In the same research note, Wortel referenced the broader momentum in the region, noting that exploration activity across the Toodoggone District was accelerating, with investment estimated to exceed CA$100 million in 2025. He wrote that this surge followed new copper-gold discoveries and supported the area's emergence as "an active area play." He further stated, "Freeport-McMoRan earn-in agreements underscore district-scale potential," highlighting the involvement of major mining firms in advancing projects in the region.

Wortel also remarked on the qualifications of Sun Summit's CEO, Niel Marotta, who brought experience in corporate finance, capital markets, and mergers and acquisitions. He described the leadership transition as arriving "at a promising inflection point" for the company's exploration goals in the district.

Overall, Wortel characterized the Toodoggone as a mining-friendly jurisdiction with significant infrastructure, including road access and hydroelectric power, and noted that the area "has attracted market and corporate support via funding and earn-in agreements." In his assessment, the combination of early-stage project scale, favorable jurisdictional conditions, and ongoing regional investment activity presented an opportunity within the junior gold exploration sector.

Advancing Key Targets Across a Large-Scale Property

Sun Summit's current exploration strategy reflects a multi-zone approach focused on discovery and resource delineation. The Creek and Finn zones anchor the program with significant historical results, while the broader 4.5-kilometer Finn to Creek corridor is under continued investigation for its gold-silver potential. Geophysical data and soil sampling are being used to refine additional targets along the 12-kilometer JD Porphyry Trend, a structural and geologic corridor believed to host copper-gold porphyry systems.

According to the company's July 2025 investor presentation, the JD Project is permitted for a five-year program and is part of a broader 25,000-hectare land package with multiple prospective zones, including Belle, McClair, Moosehorn, Oxide, and East McClair. The company noted that the 2025 program includes 25 drill holes, 2,000 soil samples, 150 rock samples, and additional geophysical coverage.

A May 2025 private placement raised US$10 million to fund the current season's exploration activities. Sun Summit reported a market capitalization of approximately CA$17 million and noted that the Buck Project, its other British Columbia asset, has an indicated resource of 19,100 ounces gold equivalent and an inferred resource of 820,400 ounces gold equivalent. The company anticipates that drilling and complementary exploration at the JD Project will continue through September.

Ownership and Share Structure

According to SEDI filings, 5.9% of Sun Summit Minerals Corp is owned by management and insiders.

Sun Summit has a market cap of CA$18.2 million with 213.9 million free float shares and a 52-week range of CA$0.065 to CA$0.340.