Drilling Reveals Gold-Silver Breakthrough in British Columbia

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Sun Summit Minerals Corp. (SMN:TSX.V; SMREF:OTCQB) has announced the mobilization of a second drill rig and provided an operational update on its 2025 exploration campaign at the JD Project, located in the Toodoggone Mining District of north-central British Columbia. The update includes new drilling at the Creek and Finn zones, as well as completed reconnaissance drilling at the Belle South porphyry target.

The second rig has been deployed to follow up on hole CZ-25-007 at the Creek Zone, which previously intersected 78.0 meters grading 3.72 grams per tonne (g/t) gold from 30 meters downhole. According to the company, mineralization from CZ-25-007 remains open along trend. Sun Summit plans to test the strike and dip extent of this zone to the northwest. Assay results from ten additional holes at the Creek Zone, totaling 3,340 meters, are pending.

Drilling has also commenced at the Finn Zone, a gold-silver target characterized by historical results such as 35.7 meters of 7.26 g/t gold and 94 g/t silver, and 45 meters of 3.02 g/t gold and 143 g/t silver. The current drill program includes confirmation and step-out holes designed to evaluate mineralization continuity and depth.

At the Belle South target, over 900 meters of reconnaissance drilling has been completed across two holes. These were designed to test a copper-gold porphyry system identified within the 12-kilometer-long JD Porphyry trend. The drill samples are being analyzed to inform the company's geological model of the area. Belle South features coincident chargeability and magnetic-high anomalies, characteristics consistent with other copper-gold porphyry systems in the region.

In a statement, CEO Niel Marotta said, "The exceptional grades and strong continuity in [CZ-25-007] highlighted what we believe may be a new parallel zone, making it a top priority to test further while the drills are turning. We are also excited to begin drilling at the silver-rich Finn Zone, and, separately, to have completed 900 meters at Belle South, one of our most prospective porphyry targets."

The JD Project is fully permitted and funded for over 5,500 meters of drilling, soil sampling, mapping, and geophysical work in 2025. The current campaign is designed to advance multiple gold-silver epithermal and copper-gold porphyry targets, including the 4.5-kilometer Finn-to-Creek corridor.

Gold and Silver Prices Surge Amid Supply Strain and Sovereign Demand

Gold prices continued to rise in 2025, supported by macroeconomic volatility, supply limitations, and evolving investor sentiment. In a September 16 report for RiskHedge, Chris Reilly noted that gold had climbed more than 40% year-to-date, crossing US$3,700 per ounce. Reilly suggested that if current momentum continues, 2025 could mark gold's strongest annual performance since 1979. He underscored the appeal of gold's financial independence, pointing out that its value is not tied to economic growth or trade dynamics. Physical gold, he wrote, is viewed by many as a long-term asset that remains insulated from digital and institutional vulnerabilities.

On September 18, Ahead of the Herd published a detailed analysis of ongoing supply issues in the gold sector. The report cited 2024 mine production at a record 3,661.2 tonnes, while global demand reached 4,974.5 tonnes, requiring an additional 1,370 tonnes of recycled material to meet consumption. The publication described this as evidence of "peak gold," the point at which new mine output fails to keep pace with demand, even as high-grade mining strategies are deployed.

Silver has entered what analysts are calling a historic breakout, marking the completion of a rare 45-year cup-and-handle chart formation. On September 22, The Silver Academy reported that silver had cleared a long-standing resistance level at US$42, opening the week above US$43. This breakout comes as sovereign entities begin to accumulate silver, with Russia adding to its holdings and Saudi Arabia acquiring shares in the iShares Silver Trust. The report also highlighted a significant development in China, where a clause embedded in US$15 billion worth of corporate bonds requires physical silver delivery if the price exceeds US$41.

With that trigger now activated, an estimated 350 million ounces may be demanded from a market already facing structural deficits. India, the world's largest silver importer, is also seeing record demand, with domestic futures prices up 49% year-to-date. The Silver Academy described these developments as part of a "global silver squeeze" that may represent a structural revaluation of silver's role in global finance. The publication further noted that, based on historical comparisons and adjusted for today's monetary environment, silver could be positioned for a seventeen-fold rise, calling it "history's greatest catch-up trade."

Analysts Highlight Drilling Progress and District-Level Investment Surge

Sun Summit Minerals' 2025 exploration campaign at the JD Project continues to draw attention from industry analysts, with coverage reflecting both local momentum and broader regional interest. On June 30, Couloir Capital's senior mining analyst Ron Wortel reviewed the company's CA$6 million program, which includes 5,000 meters of diamond drilling supported by geochemical sampling and geophysical surveys. Wortel focused in particular on the Creek and Finn zones along a 4.5-kilometer mineralized trend, noting that historical gold grades from these targets compare well against other deposits in the Toodoggone District.

Wortel confirmed the program was fully funded following a private placement that closed in June, surpassing the company's initial raise target and even exceeding its market capitalization at the time. He cited increasing exploration activity across the Toodoggone as a key backdrop, estimating that total regional investment could top CA$100 million this year. The uptick, he said, reflects renewed interest in copper-gold systems and recent partnerships between juniors and major operators such as Freeport-McMoRan. He also pointed to access to roads and hydroelectric power as important logistical advantages for ongoing exploration.

By mid-July, drilling was officially underway. Jay Taylor of Hotline reported on July 18 that the first hole had been collared at the northwest extent of the Creek Zone, targeting both high-grade and bulk-tonnage styles of near-surface gold mineralization. Taylor noted that the initial phase was expected to include up to 3,000 meters of drilling. In a September 12 update, he wrote, "Sun Summit Minerals Corp. reported results from its first drill hole completed in 2025 at the JD project... these are obviously fabulous results, and with them I have to think this story is going to start to attract some eyeballs."

Brien Lundin, writing in the July 31 issue of Gold Newsletter, also weighed in, describing the JD program as well-timed to benefit from a strong precious metals backdrop. He suggested the drilling could yield both high-grade intercepts and wide intervals of bulk-tonnage mineralization, and reiterated a "Buy" recommendation for the company.

Lundin reaffirmed his outlook in an August 28 update, emphasizing the potential of the Creek and Finn zones. "Given the significant gold and silver grades that Sun Summit Minerals Corp.'s Creek and Finn zones have produced in past drilling," he wrote, "they have a chance to deliver good results to the market this fall. The company is a Buy at current levels." Lundin offered a further update on September 19, stating, "Sun Summit Minerals Corp. made headlines last week with a hit of 78m running 3.72 g/t gold from the first hole completed this year at the JD project. . .I'm very interested to see what the follow-up drilling will produce, and the company remains a Buy."

Sun Summit Drills Turning Across Multiple Zones

Sun Summit's 2025 exploration program is designed to support resource delineation across key targets. At the Creek Zone, follow-up drilling is focused on expanding the mineralized area identified in CZ-25-007 and confirming whether it represents a new parallel zone. The company previously reported other significant intervals in this zone, including 122.5 meters at 2.1 g/t gold (CZ-24-004) and 57.95 meters at 2.7 g/t gold (CZ-24-005).

At the Finn Zone, approximately 270 historical holes provide a baseline for current drilling aimed at verifying mineralization continuity and structural controls. Prior campaigns extended mineralization down-dip by 350 meters and along strike by 500 meters. The company is now targeting both the high-grade core and broader bulk-tonnage zones with new infill and step-out holes.

The JD Project also includes the Belle South target within the broader JD Porphyry trend. According to the company's investor presentation, this area shares geological characteristics with other large-scale copper-gold systems in the region. A recent induced polarization (IP) survey and historical magnetic data have outlined high-priority targets, which are now being tested through diamond drilling.

Sun Summit raised CA$10 million in May 2025 through a private placement to support this year's exploration work. With infrastructure in place, including access roads and a 5-year exploration permit, the company anticipates completing over 5,500 meters of drilling in 2025. Results from the current program are expected to contribute to a future mineral resource estimate for the JD Project. 

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$42 million with 213.9 million free float shares and a 52-week range of CA$0.065 to CA$0.340.