Announcement • Aug 01
Sun Peak Metals Corp Provides Update on Exploration Activities Across Its 100%-Owned Saudi Arabian Portfolio
Sun Peak Metals Corp. provided an update on exploration activities across its 100%-owned Saudi Arabian portfolio covering 1,072 km2 within the Arabian-Nubian Shield. During the first half of 2026, Sun Peak advanced multiple projects through systematic exploration programs including geological mapping, rock and soil geochemistry, ground and airborne geophysics, target generation and maiden diamond drilling. The Company’s initial drilling campaigns at Safra Main and Halahila Main were completed on schedule and significantly under budget. Completed maiden diamond drilling at Safra Main and Halahila Main, with 23 holes totalling 3,764 metres drilled across both targets. Drill holes in both programs intersected sulphide mineralization on structures or key horizons within typical VMS-style volcanic and sedimentary rock packages. Submitted 961 drill core samples for laboratory analysis, with initial assay results expected in late August 2026. Completed 1,345 line-kilometres of fixed-wing time-domain airborne electromagnetic surveying at the Al Miyah Project, along with gravity surveys at Hishashat (728 stations) and Al Miyah Main (117 stations) gold and copper VMS targets. Advanced the Washaq Target at the recently acquired Jabal Al Asad Project through a 637-station gravity survey, geological sampling (44 rock samples and 45 soil samples), and follow-up ground electromagnetic surveying currently underway. Exploration work identified a large VMS-style gossan extending approximately 1.5 kilometres along a northeast-southwest trend with a broad hydrothermal footwall alteration zone containing gossanous stringer mineralization was mapped. The Company’s maiden drill program at Halahila Main has been completed and comprised 13 diamond drill holes totalling 2,521.65 metres. A total of 402 drill core samples have been submitted to ALS Global in Jeddah for laboratory analysis, with initial assay results expected in late August 2026. Drilling tested the Halahila Main Zone, where geological mapping and systematic rock-chip sampling outlined a mineralized gossan extending for more than 650 metres along strike and measuring up to 30 metres in width. Surface samples returned values of up to 16.35 g/t gold and 180 g/t silver. Geological, geochemical, EM and gravity data were integrated to select and prioritize the drill targets. The maiden drill program at Safra Main has been completed and comprised 10 diamond drill holes totalling 1,242.35 metres. A total of 559 drill core samples have been submitted to SGS laboratory in Turkey for gold and multi-element analysis, with initial assay results expected in late August 2026. Drilling focused on the Safra Main Zone, where previous surface sampling returned values of up to 3.34 g/t gold, 6.72% copper, 864 g/t silver, 19.05% zinc and 9.89% lead. Previous trench sampling returned an interval of 22.5 metres with 0.90 g/t gold, 35.6 g/t silver, 0.20% copper, 1.83% lead and 1.21% zinc. Drill targets were selected using coincident gravity anomalies, time-domain electromagnetic conductors and strong surface geochemistry associated with gossans, alteration and copper-oxide mineralization. During 2026, the Company also completed 35 ground EM survey lines totalling approximately 33.4 line-kilometres and approximately 703 stations at Safra. Sun Peak recently completed approximately 1,345 line-kilometres of FTEM surveying across the Al Miyah licence. The Company also completed gravity surveys comprising 728 stations at the Hishashat Target and 117 stations at the Al Miyah Main Target. The survey results are being compiled and interpreted together with geological and geochemical data to refine and prioritize targets for follow-up exploration. Drilling is scheduled for Fourth Quarter at Al Miyah. Washaq is a high-priority VMS target that was identified within the Jabal Al Asad Property, one of the Company’s Round 9 license acquisitions. Initial mapping completed in April outlined a large VMS-style gossan extending approximately 1.5 kilometres along a northeast-southwest trend. The target is characterized by a broad hydrothermal footwall alteration zone containing gossanous stringer zones. The Company recently completed detailed geological mapping, collected 44 rock samples and 45 soil samples, and undertook an initial 637-station gravity survey covering approximately 6 km². Two follow-up ground EM loops comprising 24 survey lines and approximately 226 stations are underway to further refine and prioritize potential drill targets. Results received to date are being compiled and interpreted by the Company. The NGZ Target is located on Sun Peak’s Zayiyr Property immediately north of, and along strike from, the Bulghah North gold mine. The target represents an orogenic gold opportunity where historical drilling data indicates the potential continuation of mineralization along trend. The available historical database includes 18 diamond drill holes and 42 reverse-circulation drill holes. Historical drilling also indicates continuation of the prospective granodiorite host intrusion and includes a reported intercept of 10 metres averaging 11.3 g/t gold, including 1 metre grading 100 g/t gold. The Company will integrate and model the historical geological, geochemical, and drilling data to refine priority targets ahead of an initial reverse-circulation drill program. Historical rock, soil, and drill results referenced herein were completed by previous operators and have not as yet been independently verified by the Company. While the Company believes the historical data to be relevant and useful for exploration targeting, it should not be relied upon as current or conclusive or of suitable quality until confirmed through additional field work, sampling, and/or drilling.
