October 29, 2020 – Vancouver - Sun Peak Metals Corp (the “Company” or “Sun Peak”, TSX-V: PEAK) is pleased to announce two drills have commenced work at the gold and base metal Shire Project, located in Northern Ethiopia. A third planned drill is expected to begin in late November 2020.
The drill program is scheduled to complete 18,000 meters by June of 2021, with 8,000 meters expected by the end of 2020. The program will test several high priority gold and copper VMS targets developed by the Company and also focus on the three targets previously drilled (March 2020); Meli VMS target located ~40 km southwest of the town of Shire; Argo and Keel VMS targets located ~45 km north of Shire. – Reference: Sun Peak News Release dated September 3, 2020.
Greg Davis, Sun Peak’s President and CEO stated, “We are executing our plan to drill test our high priority targets and expand the mineralized zones drilled earlier this year. The program will create a steady news flow of drill results over the next nine months.”
Sun Peak is committed to the health and safety of all employees, contractors, and local communities. The Company has implemented additional controls and safety protocols in accordance with Ethiopian guidelines and government requirements related to the COVID-19 pandemic.
About Sun Peak Metals Corp.
Sun Peak Metals Corp. is exploring the district-scale Shire Project in the Tigray Region of northern Ethiopia. The Shire Project is comprised of four exploration licenses and covers approximately 900 square kilometers in the prospective Arabian Nubian Shield. The licenses are in the same geological environment as both the Bisha Mine and the Asmara Projects to the north in Eritrea and Newmont's Project, also in northern Ethiopia, to the south. The Sun Peak team have worked together in East Africa for almost two decades and the Company’s strategy is to apply exploration techniques that have worked successfully in the region before in significant discoveries, to build assets through major discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Vice President, Corporate Development
(T): +1 778 945 3952
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Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the planned timing and scope of the exploration programs on the Shire Projects and the extent that COVID-19 may impact the timing or execution of these plans. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the results of the planned exploration programs at the Shire Project to not meet expected results. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Prospectus filed with Canadian security regulators.