Bay State Silver Drill Permit

RNS Number : 7938U

Sunrise Resources Plc

03 August 2015

 

3 August 2015

 

SUNRISE RESOURCES PLC

(the "Company")

PERMIT RECEIVED FOR DRILL PROGRAMME AT BAY STATE SILVER PROJECT, NEVADA

Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to announce that, following receipt of bonanza silver grades from recent underground sampling at Bay State, it  has now received the required consent for its proposed drill programme from the US Bureau of Land Management ("BLM").

The programme that has been permitted comprises access track upgrading and the construction of up to 16 drill pads. The permit will allow for a multi-phase drill programme where one or more holes can be drilled from each pad.

The first phase of drilling is expected to comprise 3 holes at 150-200m spacing to test beneath existing workings on the Chihuahua vein and one of these holes will also test the area where bonanza silver grades were recently obtained from underground sampling (see announcement of 1 June 2015).

The Company will use diamond drilling in Phase 1, which, although more expensive than percussion drilling, will provide superior geological and grade distribution information for the planning of additional drill phases.

The Company has submitted a restoration bond to BLM for the permitted programme and is now in the finals stages of reviewing drilling contractor bids with a view to start drilling this month. A further announcement will be made when drilling is due to start.

Commenting today, Executive Chairman Patrick Cheetham said: "We are delighted to be fast-tracking the drill programme at Bay State and look forward to the first results. We believe that the permit now in place will cover sufficient phased drilling to meet our next objective which is to define a JORC compliant Mineral Resource Estimate."

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Edward Hutton/David Hignell John Howes/Mark Treharne (Broking) Dr Ryan Long (Research)	Tel:	[phone]
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor	Tel:	[phone]

About the Bay State Silver Project

The Bay State Silver Project is located on the west flank of the Newark Valley in Eastern Nevada, 15km due east of the County town of Eureka. It was acquired by the Company in September 2014 and further claims were recently added to the project.

The mine was worked for silver in the 1870s and again in the 1900s when mining focused on two main NW-SE striking veins sets hosted within limestone. The largest workings are on the Chihuahua and Buckeye State Patents which together cover a strike length of some 900m and extend north and south of Mining Canyon along the Chihuahua Vein System. Two shafts were sunk on the border between these two patents, near the floor of the canyon, and are reported to extend to a depth of 120m with production mainly from extensive stopes above the 60m level. The Chihuahua Vein dips steeply to the west.

In the 1940s tungsten mineralisation was reportedly discovered in the upper workings of the Chihuahua Adit and was worked during the war years providing tungsten for the war effort. The tungsten was reported to occur as a replacement mineralisation within limestone beds.

The Company first acquired rights to the Bay State Silver Project in late 2014 and has since completed a number of surface and underground sampling programmes.

About Sunrise Resources plc

Sunrise Resources plc is an AIM-traded diversified mineral exploration and development company.

The Company's objective is to develop profitable mining operations to sustain the Company's wider exploration efforts and create value for shareholders through the discovery of world-class deposits.

The Company has diamond and gold exploration interests in Western Australia and has staked claims and acquired leases over a number of projects in Nevada, USA, most recently at the Junction Gold Project.

The Company also holds diamond exploration interests in Finland and a white barite project in South-West Ireland.

Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com

 

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