Sun Metals Corp. (TSX-V: SUNM) CEO Steve Robertson Gives an Update on Drilling at the Stardust Project in British Columbia
Gerardo Del Real: This is Gerardo DelReal with Resource Stock Digest. Joining me today is the CEO of Sun Metals Corp. (TSX-V: SUNM)(OTC: SMTTF), Mr Steve Robertson. Steve, how are you this morning?
Steve Robertson: I'm doing great, Gerardo. Thanks very much for having me on.
Gerardo Del Real: I appreciate you taking the time, Steve. Of course everybody is excited on you following up that 100-meter interval of about 5% copper equivalent last year at the Stardust Project. How is the drill program progressing?
Steve Robertson: It's coming along very well. We've been going since mid-May. I think we had two drills turning before the end of May. So we are at least six weeks, seven weeks into the program at this point. The guys are doing a great job on site and drilling the targets as planned. We are looking very forward to getting some assay results back from the lab so we can start putting some new results out there on the street.
Gerardo Del Real: Excellent. Now I understand that you identified an EM conductor last year, and you actually started the drilling right in that area. Is that accurate?
Steve Robertson: Yeah. We were focusing around Hole 421, following both the geophysical response and the geologic trends that we've established in the previous program. So we've got sort of a multi-target expectation this year. I think that we're going to be following up on both geophysics and geological trends.
Gerardo Del Real: Now I understand that you actually are doing directional diamond drilling, which is a whole lot more efficient and gives you more data obviously, right?
Steve Robertson: Yeah. We're saving about 35% of the meterage that it would take to drill these targets from surface. So we're using pilot holes and then we can very accurately and precisely target where we want to step out from the previous intercept. So this is really an efficient way to go.
Gerardo Del Real: Now I understand that simultaneously, while the drills turn, you're also conducting a large loop ground EM survey at Canyon Creek, which is a skarn zone. Can you tell me about that?
Steve Robertson: Yeah. We've actually got three loops that we're trying to survey. There's one right over top of the Canyon Creek skarn area. We're going to be doing one survey to the south, which is where we had something called “anomaly A” that came out of our VTEM survey in 2018. We drilled that target, didn't really get an adequate explanation for what was causing that very large conductor. So we're going to try to hone in on that area with the ground geophysics to see if we can get better resolution on where their target actually lies.
Gerardo Del Real: Excellent. Now Steve, I believe the budget was what, approximately $5.4 million. All of it's fully funded of course.
Steve Robertson: That's correct. Yeah.
Gerardo Del Real: Fantastic. Cash position. What does that look like right now?
Steve Robertson: We've got about $5 million still ready at this point, so we have the adequate funds to complete the upcoming program and then some.
Gerardo Del Real: Fantastic. Well I know we're hoping for assays in the coming weeks. I obviously would love to have you back on as soon as we get those. I think you got a lot of people watching that are excited for the followup of last year's hit. Right?
Steve Robertson: Absolutely. I look forward to coming back and telling you about it.
Gerardo Del Real: Thanks a lot Steve. Appreciate the time.
Steve Robertson: All right, bye for now.