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Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to provide an update on drilling progress and assay results from its Golden Range Project, located in the Murchison region of Western Australia (Figure 1).
HIGHLIGHTS:
- Assay results for a further two (2) diamond tails at Ricciardo confirm a 77m wide (not true width) mineralisation zone 180m down-dip of the current Resource beneath the Ardmore pit, including a high-grade shoot.
- Significant gold intervals include:
- 7.2m @ 4.51 g/t Au from 232.8m, incl. 3m @ 9.03 g/t Au from 234m
- 10.5m @ 1.53 g/t Au from 218.8m
- 3.9m @ 3.35 g/t Au from 218.8m
- 23.2m @ 1.60 g/t Au from 270.8m
- Mineralisation in this area is structurally complex, extends to a vertical depth of ~ 460m and remains open.
- Ricciardo sits in the middle of the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six (6) discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.
- Current diamond drilling program (now extended to 3,000m) at Ricciardo and M1 set to be completed in mid-August, with all assays expected by late-September.
- Update of the Ricciardo MRE is targeted for Q4 2024.
- Further growth-focussed drilling of the ‘Golden Corridor’ scheduled for H2 2024.
The results reported in this release are for a further two (2) of the diamond holes drilled in the current program. Results for the first twelve (12) diamond holes of the current program were previously reported (refer WA8 ASX releases dated 3 July 2024 and 19 July 2024).
The results for these two (2) holes again demonstrate wide infill of the broader Ricciardo deposit at depth, further validating the outstanding Mineral Resource Estimate (MRE) growth potential that exists at Ricciardo and along the broader ‘Golden Corridor’ trend (refer Figure 2).
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“The outcomes of these two diamond tails are significant, given that they represented substantial depth step-outs under the shallow Ardmore pit. A 77m wide mineralised zone (downhole) with a central high-grade shoot (4.51 g/t), 180m below the MRE is a great result. We don’t fully understand the structural geometry here yet, but we are delighted that the deeper part of hole 49 validates the drill results from a previous explorer – confirming the deposit extends to about 460m vertical depth and retains some good grade (3.19 g/t). Excellent progress.
We continue to drill ahead at Ricciardo as part of the current diamond program, with follow-up growth drilling activities in planning for the remainder of H2 2024.”
Figure 1: The Golden Range and Fields Find Projects. Mines and projects within trucking distance of the Warriedar tenure are shown.
Ricciardo deposit
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. Ricciardo possesses a current MRE of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1 The oxide material at Ricciardo has been mined by previous operators.
Click here for the full ASX Release
This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
WA8:AU
Targeted Exploration Focus Delivers an Additional 471koz or 99% Increase in Ounces, and a Higher Grade for Ricciardo
HIGHLIGHTS:
- Updated Mineral Resource Estimate (MRE) for the Ricciardo Deposit (part of the broader Golden Range Project) of 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold.
- Represents a 99% increase in Ricciardo MRE contained gold ounces.
- Proven high-returning exploration with the increased Ricciardo MRE ounces delivered at an attractive all-in discovery cost of only approx. A$16/oz.
- High-quality resource additions given drilling focus on high-grade growth ounces with strong commercial potential.
- The updated Ricciardo MRE comprises:
- 467.5 koz @ 1.6 g/t Au open-pit gold Resource (75% M&I) (optimised pit shell constrained at A$3,300/oz)
- 480.0 koz @ 2.0 g/t Au underground gold Resource
- Critically, the Ricciardo system remains wide open at depth and along strike.
- Total Golden Range Project Mineral Resources now stand at over 1.28 Moz gold, a 58% increase from the previous level.
- This initial outcome validates the excellent potential for further growth within the broader 25km ‘Golden Corridor’ via the ongoing, simple strategy of targeting fresh rock extensions under shallow existing pits.
- RC drilling at the southern end of the ‘Golden Corridor’ targeting high-grade Resource growth is progressing well; 9 holes completed for 1,472 metres to date, assays pending.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“This is the result we have been working towards all year. With less than 15,000m of targeted, efficient drilling we have added over 470 koz to the Ricciardo deposit, doubling the Resource.
We are excited by both the outcome itself, and the outlook that it delivers us for the wider corridor of gold deposits. The simple strategy of drilling below shallow open pits to find mineable ounces worked exceptionally well for our producing neighbours. The validity of this strategy is now beyond doubt, for us.
Not only is the Ricciardo system still wide open down-plunge, but the entire 25km long ‘Golden Corridor’ offers similar potential upside from such a relatively simple drilling focus.
In the middle of the infrastructure-rich southern Murchison, and located on existing Mining Leases, the opportunity in front of us is utterly irresistible.”
The Ricciardo Deposit
The Ricciardo Gold Deposit is located on existing mining leases 100% owned by WA8, in the Murchison Region, approximately 300 km east of Geraldton, and 420 km by road north-northeast of Perth. Sitting approximately 8km South of the Golden Range Mill on M59/421, and M59/458, within the Golden Range group of historic open pit mines and deposits.
Discovered in the 1990’s, open pit mining of the oxide resources commenced in 2001, and the plant entered Care & Maintenance twice (between July 2004 and 2009, and May 2010 to mid- 2013). Production was over 300 Koz before finally going into ongoing Care and Maintenance in August 2019.
The Ricciardo deposit is located 90km north of Capricorn Metals’ Mt Gibson Gold Project, 8kms south of the Company’s plant, 26km from the neighbouring Golden Grove processing facility and 40 km northeast of Vault Minerals’ high grade Rothsay gold mine (Figure 1).
Figure 1: The location of the Ricciardo gold deposit within the Golden Range Project; within the broader Southern Murchison region.
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth prior to Warriedar drilling. Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Warriedar’s drilling of Ricciardo during CY2024 achieved excellent results, demonstrating high- grade extensions to the resource. The results demonstrated that the previously quantified resource is part of a much larger system.
Warriedar engaged independent mining consultants, Measured Group to update the Ricciardo MRE, previously reported 476Koz gold.1
The Ricciardo Gold Deposit consists of six semi-continuous historical open pit mines along the 2.3 km arcuate stretch of the Mougooderra Shear Zone, running north to south. These mines are named (from north to south) Silverstone North, Ardmore, Copse, Silverstone, Silverstone South, and Eastern Creek (Figure 2).
Figure 2: Drilling carried out by the Company during 2023 & 2024, which was used to update the MRE.
Click here for the full ASX Release
This article includes content from Warriedar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Continued Delivery of High Grade Antimony Mineralisation at Ricciardo
HIGHLIGHTS:
- Review of the antimony (Sb) potential at Ricciardo is complete with drillhole assay data confirming Sb mineralisation of significant thickness and grade exists below both the Ardmore pit (previously identified) and the Copse-Silverstone pits (newly identified), representing a potential combined strike length of approx. 1km.
- Multiple significant Sb intervals have been identified (reviewing both historic and WA8 drill hole assays), in addition to results recently released (* indicated below):
- Most of the Sb mineralisation appears to be located above the main gold zone, a distinct metallurgical positive for future processing and economic potential. Similarly to the gold mineralisation, the Sb zones remain wide open at depth.
- Only 11% of historical drill samples at Ricciardo were assayed for Sb. Retained pulp samples from historical holes are currently being tested with pXRF, with those favourable for significant Sb set to undergo laboratory multi element assay.
- An approx. 100kg high-grade sample of antimony mineralisation from Ricciardo has also been dispatched for scoping-level metallurgical testwork.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“Following the recent high grade antimony intersections at Ricciardo, our initial review of the broader antimony potential has delivered further promise. An exceptionally high-grade antimony interval, as well as a much wider intersection, are now able to be placed in greater context. This context is a broader volume of antimony, not yet well-defined but with existing drilling showing serious scale and grade potential.
“Importantly, the high-grade antimony appears relatively discrete from higher-grade gold mineralisation, an excellent metallurgical outcome. While it remains early days, we are cautiously optimistic and have commenced initial metallurgical testing for potential processing and antimony recovery.
“While we are excited about this emerging opportunity at Ricciardo, I want to emphasise however that pursuit of this opportunity will be in parallel with our growth-focussed gold drilling at Golden Range, which remains our current core focus.”
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Key Ricciardo context
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. Ricciardo possesses a current Mineral Resource Estimate (MRE) of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1
Historical gold mining operations at Ricciardo were primarily focused on the oxide material, with the transition and primary sulphides mineralisation not systematically explored. Antimony was not a focus of previous exploration, with only about 11% of historic drill holes assayed for antimony.
The gold and antimony mineralisation at Ricciardo is predominantly hosted within intensely altered and deformed ultramafic units. The high-grade antimony-dominant mineralisation occurred later than the main gold events and generally sits above the high-grade gold mineralisation.
Click here for the full ASX Release
This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Further Strong Extensional Diamond Drill Results from Ricciardo
HIGHLIGHTS:
- All residual assay results received from the recent 2,701m (27 holes) diamond drilling program at Ricciardo.
- Drilling underneath the Silverstone pit confirms the identified high-grade shoot continues at depth and at better than previously modelled grades:
- 13.7m @ 3.27 g/t Au and 0.36% Sb (4.04 g/t AuEq) from 253.3m, inc.
1.2m @ 9.00 g/t Au and 0.00% Sb (9.00 g/t AuEq) from 264.85m (RDRC046) - 22.6m @ 2.11 g/t Au and 0.29% Sb (2.71 g/t AuEq) from 294m, inc.
3m @ 7.22 g/t Au and 0.02 % Sb (7.26 g/t AuEq) from 312m (RDRC044)
- 13.7m @ 3.27 g/t Au and 0.36% Sb (4.04 g/t AuEq) from 253.3m, inc.
- Drilling from the Eastern Creek area, located at the southern end of Ricciardo, confirms down dip continuity with increasing grade and width at depth:
- 7.0m @ 2.54 g/t Au and 0.24% Sb (3.05 g/t AuEq) from 170m (RDRC060)
- 25.0m @ 1.23 g/t Au and 0.17% Sb (1.60 g/t AuEq) from 232m, inc.
6.8m @ 2.37 g/t Au and 0.37% Sb (3.16 g/t AuEq) from 250.2m (RDRC059)
- Update of Ricciardo Mineral Resource Estimate (MRE) on track for Q4 2024.
- Aircore drilling program now in progress at the Golden Range Project targeting an underexplored section at the southern end of the 70-km long shear.
- Further growth-focussed Reverse Circulation (RC) drilling of the ‘Golden Corridor’ scheduled to commence in November.
The assays reported in this release are full results for the final 11 diamond holes (1,021m) from the recent 27-hole diamond tail program at Ricciardo. Results for the first 16 holes of this program have previously been reported (refer WA8 ASX releases dated 3 July 2024, 19 July 2024, 2 August 2024 and 26 August 2024).
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“This final set of diamond results from the recent Ricciardo drilling have really put a bow on the whole program for us. The broad-based extensional success delivered by this drilling is both real and exciting. The fact that these results are being delivered at what are still relatively shallow down-dip depths, and in such proximity to excellent surrounding infrastructure, also delivers excellent potential for the economic character of the anticipated resource additions at Ricciardo. It is my firm belief that we are just getting started in terms of the opportunity at Ricciardo, let alone within the larger ‘Golden Corridor’ and along the broader mineralised shear.”
Key Ricciardo context
The Ricciardo gold system is located within Warriedar’s flagship Golden Range Project in the Murchison region of Western Australia (refer Figures 1 and 2).
Ricciardo spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. It possesses a current MRE of 8.7 Mt @ 1.7 g/t Au for 476 koz gold. 1 Importantly, historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Figure 2: The ‘Golden Corridor’ within the Golden Range Project. The image on the right is gravity over shaded residualmagnetic RTP.
The most recent phase of RC and diamond drilling of Ricciardo has concluded. This release reports on the assays from the final 11 holes of the diamond program. These holes were predominantly located in the southern part of the Ricciardo deposit, focusing on down-dip extension where no previous drilling had been undertaken (refer Table 1 and Figure 3 for drill collar and relevant section locations).
All 11 holes returned significant intersections, delivering a further round of meaningful extensional success from the recent program (refer Table 2). All results are set to be incorporated into an update of the Ricciardo MRE, which remains on track for completion during Q4 2024.
Click here for the full ASX Release
This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Further Step-Out Gold Success and High-Grade Antimony Discovery
HIGHLIGHTS:
- Assay results received for a further 1,102m of diamond drilling at Ricciardo.
- Extremely high-grade antimony (Sb) intersected in multiple holes below the Ardmore pit, including in RDRC067 above the main zone of high-grade gold mineralisation:
- 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq*) from 229.2m
incl. 1.85m @ 28.50% Sb and 0.45 g/t Au (60.94 g/t AuEq) from 238.25m
- 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq*) from 229.2m
- A wide zone of antimony mineralisation was encountered in hole RDRC001:
- 34m @ 1.0% Sb and 0.59 g/t Au (2.72 g/t AuEq) from 158.80m
- This newly identified and exceptionally high-grade Sb zone, along with the broader antimony potential at Ricciardo, demands prompt follow-up and evaluation.
- Further high-grade gold extension delivered below the Ardmore pit:
- 18m @ 3.41 g/t Au and 0.27% Sb (3.97 g/t AuEq) from 276m (RDRC048B) incl. 4.5m @ 9.90 g/t Au and 0.01% Sb (9.93 g/t AuEq) from 286.5m
- 1m @ 28.31 g/t Au and 2.18% Sb (32.92 g/t AuEq) from 286m (NMRC005)
- 42.6m @ 1.08 g/t Au and 0.05% Sb (1.17 g/t AuEq) from 253.38m (RDRC067)
- ‘Golden Corridor’ diamond drilling now complete, with 31 holes drilled for 3,300m.
- All residual diamond assays expected to be received by late September, with update of the Ricciardo Mineral Resource targeted for Q4 2024.
- Further growth-focussed RC drilling of the ‘Golden Corridor’ scheduled for H2 2024, as well as planned aircore drilling along select parts of the regional shear.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“The results for these holes successfully demonstrate further extensional high-grade gold, and for the first time very high-grade antimony zones below the Ardmore pit area.
Given the relative absence of assaying for antimony in historical drilling at Golden Range, we are cautiously optimistic on the potential that might exist here. Moreover, the apparent zonation in RDRC067 is also highly encouraging for any future antimony development potential.
I want to emphasise however that pursuit of this opportunity will be in parallel with our growth-focussed gold drilling at Golden Range, which remains our current core focus.”
* Refer to page 8 of this release for full gold equivalent (AuEq) calculation methodology.
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Key Ricciardo context
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. Ricciardo possesses a current MRE of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1 Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Due to the limited number of multi-element assays from historical drill holes at Ricciardo, other mineral potential (outside of gold) has also not been properly evaluated historically.
Figure 2: The ‘Golden Corridor’ within the Golden Range Project. The image on the right is gravity over shaded residual magnetic RTP.
The gold mineralisation at Ricciardo is predominantly hosted with intensified altered and deformed ultramafic units. It is important to note that the newly identified antimony-dominant mineralisation identified in RDRC067 (discussed below) sits above high-grade gold mineralisation in the same area, and may overprint the earlier gold mineralisation in some areas.
High-grade antimony zone discovery below the Ardmore pit
RDRC067 was designed to drill south to north along strike to better understand the structural controls within the Ricciardo deposit and assess the continuity of the ultramafic unit (Figure 3). All previous drill holes (by Warriedar and previous explorers) have been drilled eastward perpendicular to the known mineralised structure. RDRC067 was considered an important hole by the Warriedar technical team in order to confirm there are no additional structural controls and to provide further confidence in the geological model.
Figure 3: Plan view of Ricciardo deposit with current cross section locations annotated. The holes drilled in Q2/Q3 as part of the current program are highlighted in red. Additional holes are also outlined but not presented in below cross sections.
Unexpectedly, RDRC067 intersected significant high-grade antimony mineralisation from 229.2m to 241.9m downhole, returning 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq) (Figure 4). Above this high-grade antimony zone, another significant zone was also identified from 183m to 198.1m downhole, returning 15.1m @ 1.42% Sb and 0.42 g/t Au (3.42 g/t AuEq) (Figure 4).
The antimony zones intersected by RDRC067 are interpreted to correlate with a lower grade antimony zone intersected in RDRC038 and RDRC049 (Figure 4). Encouragingly, drillhole RDRC001 returned a wide zone of antimony mineralisation: 34m @ 1.0% Sb and 0.59 g/t Au (2.72 g/t AuEq). Further work is required to determine the geometry and extent of the antimony mineralisation.
RDRC067 concluded at 296.96m downhole depth, within the gold mineralisation domain, as the target depth of the hole had been reached. As RDRC067 is not drilled perpendicular to the Mougooderra Shear, which is the main control of the mineralisation, it is important to note that the intersected thickness does not reflect the true thickness of the mineralisation.
Click here for the full ASX Release
This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Sun Summit Minerals: Advancing District-scale Gold and Copper Projects in British Columbia
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company advancing district-scale gold and copper projects in British Columbia. Its flagship JD Project, located in the prolific Toodoggone district, is the focus of an aggressive 5,000-meter drill program in 2025 targeting a potential multi-million-ounce epithermal gold-silver system.
With funding in place, a five-year exploration permit secured, and an on-site camp established, Sun Summit is executing a disciplined strategy to build scale, unlock resource value, and deliver returns to shareholders. Reinvigorated by a revamped leadership team and a refined vision, the company is leveraging high-grade, strategically located assets to drive long-term growth.
The JD and Theory projects cover over 25,000 hectares in the heart of British Columbia’s Toodoggone mining district, one of Canada’s most prospective regions for epithermal gold-silver and porphyry copper-gold systems. The district hosts several significant deposits, including Thesis Gold’s Ranch and Lawyers projects (4.7 Moz gold equivalent, ~C$250 million market cap), Centerra Gold’s Kemess underground development, and TDG Gold’s Shasta-Baker project. The area is well supported by infrastructure, including hydroelectric grid access, all-season roads, and the nearby Sturdee airstrip.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
This Sun Summit Minerals profile is part of a paid investor education campaign.*
Click here to connect with Sun Summit Minerals (TSXV:SMN) to receive an Investor Presentation
Sun Summit Minerals
Investor Insight
Sun Summit Minerals is targeting the delineation of a multi-million-ounce gold-silver resource at its flagship JD project. With strategic positioning in an emerging consolidation hotspot, compelling valuation metrics, and a track record of discovery, Sun Summit is primed to deliver substantial value creation in the coming quarters.
Overview
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company focused on developing its district-scale gold and copper projects in British Columbia. The company’s flagship JD Project, located in the Toodoggone district, is undergoing an aggressive 5,000-meter drill campaign in 2025 aimed at delineating a multi-million-ounce epithermal gold-silver system.
Complementing JD is the company’s Buck project, a large, bulk-tonnage gold-silver system near Houston, BC, with an initial NI 43-101 resource estimate and significant exploration upside.
With capital in hand, a five-year exploration permit secured, and a camp established at JD, Sun Summit is executing a focused strategy to build scale, unlock resource potential and drive shareholder value. The company has taken lessons from its past and re-emerged with a sharpened vision, an overhauled team and assets that are not only high-grade but strategically located to create shareholder value.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
Key Projects
JD & Theory Projects
The JD & Theory projects span more than 25,000 hectares in the heart of the Toodoggone mining district in north-central BC, one of Canada’s most prospective belts for epithermal gold-silver and porphyry copper-gold systems. The district is home to Thesis Gold’s Ranch and Lawyers deposits (4.7 Moz gold equivalent, C$250 million market cap), Centerra’s Kemess underground development, and TDG Gold’s Shasta-Baker project. Infrastructure around the project includes hydroelectric grid access, the nearby Sturdee airstrip and all-season roads.
The JD project hosts a 4.5 km mineralized corridor, known as Creek-Finn, with multiple underexplored targets showing evidence of both high-grade veins and broad disseminated gold systems. Historic and recent drill highlights include:
- 2.1 grams per ton (g/t) gold over 122.5 m including 121 g/t gold over 1.5 m (CZ-24-004)
- 11.7 g/t gold over 22 m including 61.2 g/t gold over 4 m (CZ97-008)
- 7.3 g/t gold over 35.7 m including 215.4 g/t gold over 1 m (JD95-0472)
The Creek Zone features high-grade epithermal veins within broader disseminated zones, supported by strong IP anomalies and gold-in-soil results up to 12.2 g/t gold. The Finn Zone hosts near-surface mineralization with extensive historical drilling (~270 holes) and is open in all directions. Other targets include McClair (porphyry copper), East McClair (copper-gold skarn) and Moosehorn.
The 2025 program includes 5,000 meters of core drilling across 25 holes, 20 km of IP geophysics, 2,000+ soil samples, and full-scale camp operations. A five-year permit secured in April 2025 provides exploration continuity through 2030.
Camp setup at JD project
Sun Summit can earn 100 percent of the JD project by making staged cash/share payments and completing work commitments through 2029. With ~C$6 million earmarked for the project this year alone, Sun Summit is expected to fulfill its 2025 and 2026 earn-in obligations without additional equity raises.
Buck Project
The 100 percent owned Buck project spans 52,000 hectares and is located near key deposits, including Artemis Gold’s Blackwater (8 Moz gold), Imperial’s Huckleberry copper mine, and Newmont’s historic Equity Silver mine. Buck features near-surface bulk-tonnage gold-silver mineralization with porphyry copper-molybdenum potential at depth.
In February 2025, Sun Summit published its inaugural NI 43-101 mineral resource:
- Indicated: 1.15 Mt @ 0.519 g/t gold equivalent (19,100 oz)
- Inferred: 52.2 Mt @ 0.489 g/t gold equivalent (820,400 oz)
Mineralization remains open in all directions. Buck is considered a strategic asset providing leverage to rising gold prices and future transaction potential, but currently receives minimal capital allocation as JD is prioritized.
Management Team
Niel Marotta – Chief Executive Officer and Director
Niel Marotta has more than two decades of capital markets experience, including a successful tenure at Fidelity (FMRCo.), where he managed the top-performing Select Gold Fund and oversaw >$1 billion in AUM. He was previously VP at Orezone Resources, where he helped lead its C$350 million acquisition by IAMGOLD. Marotta has raised over $1 billion in financing and is driving Sun Summit’s transition from a legacy explorer to a discovery-focused value generator.
Brian Lock – Executive Chairman
A veteran of the mining industry with 40+ years of executive experience, Brian Lock has led multiple public companies, including Castle Peak Mining and Scorpio Gold. His expertise spans project development, M&A and corporate governance.
Waseem Javed – Chief Financial Officer
A seasoned mining CFO, Waseem Javed ensures disciplined capital deployment and financial controls. His experience spans junior explorers and mid-tier producers across Canada and the US.
Ken MacDonald – VP Exploration
Ken MacDonald is a registered professional geologist with over 30 years in mineral exploration and permitting in BC. Formerly with the BC Mines Branch and multiple juniors, he leads Sun Summit’s technical programs and NI 43-101 compliance.
Christopher Leslie – Technical Advisor
An expert in porphyry and epithermal systems, Christopher Leslie led the discovery of the 8 Moz Blackwater deposit while at Richfield Ventures, and later served as VP exploration for Tower Resources. He was instrumental in advancing the JD-Theory project during its prior ownership.
Robert D. Willis – Senior Advisor
Founder of several successful exploration companies, including Pioneer Metals and Manhattan Minerals, Robert Willis has 35+ years of technical and executive experience across North and South America.
Terry Salman – Strategic Advisor
Founder of Salman Partners and one of Canada’s most influential mining financiers, Terry Salman has backed dozens of successful juniors over a 40-year career in mining investment banking.