Further Diamond results, Cue Project

RNS Number : 4437P

Sunrise Resources Plc

19 August 2014

 

19 August 2014

SUNRISE RESOURCES PLC

(the "Company")

CUE DIAMOND PROJECT

RECOVERY OF DIAMONDS FROM HIGH INTEREST SAMPLES

Sunrise Resources plc, the AIM traded diversified mineral exploration and development company, is pleased to report the recovery of diamonds from two high interest samples from its Cue Diamond Project ("Cue") in Western Australia.

Highlights:

·     15 small samples processed from 9 drill holes at 4 separate target areas

·     Diamonds recovered from two target areas

·     Diamonds include a yellow stone - coloured stones not previously seen at Cue

·     Results validate the Company's exploration methods and highlight additional areas for priority follow-up.

The results being announced today are for the second batch of drill samples submitted for diamond extraction from the Company's April 2014 drill programme. The background to this sample submission was given in the Company's news release of 30 June 2014.

Commenting today, Executive Chairman Patrick Cheetham said:"This is a very pleasing development. The results confirm that the new kimberlite discovery northwest of the Soapy Bore kimberlite is diamondiferous and that at least one drill hole at Area 6 intersected diamondiferous material. The unremarkable appearance of the diamondiferous material at Area 6 suggests it could have easily been missed but for the methodical work being undertaken. Other drill Intersections with similar geology and geochemistry remain of high interest."

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Gavin Burnell/Edward Hutton Alice Lane/Charles Laughton (Broking)	Tel:	[phone]
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor	Tel:	[phone]

DETAILED INFORMATION

The samples being reported today are from the drill programme reported in the Company's news release of 28 April 2014 and are further to the update provided on 30 June following an extensive programme of geochemical analysis and mineralogical work on various high interest drill samples.

This earlier work unequivocally identified two new kimberlite dyke discoveries - one located 300m northwest of the Soapy Bore Kimberlite (the "Soapy Bore Northwest Kimberlite") and one at the FW Prospect (the "FW Kimberlite ") which lies to the NW of Target 5. It also identified a number of high interest samples from Target Areas 6 and 1a.  First diamond sample results from these areas are presented below.

In total, 15 small samples from 9 drill holes at 4 separate target areas were processed for diamond extraction by caustic fusion by Saskatchewan Research Council Geoanalytical Laboratories Diamond Services ("SRC"). SRC is accredited to ISO/IEC 17025:2005. Industry standards have been followed to ensure that the Chain of Custody has been maintained.

Soapy Bore Northwest Kimberlite

Originally targeted on the basis of a surface geochemical anomaly, this kimberlite dyke discovery was made in the near surface weathered zone between 8-14m down-hole in drill hole 14CUAC44.

A 3.6kg sample was submitted for diamond extraction composited from the interval 11-13m downhole in 14CURC44. Two small diamonds were recovered in the +0.075-0.106mm sieve category with a weight of 1,950 octocarats (10^-8 carats). One of these was broken, off-white and translucent with minor inclusions the other was a yellow fragment, transparent and with no inclusions. This is the first time a coloured stone has been found at Cue.

No significance should be attached to the small size of the stones recovered from such a small sample. Small stones are invariably the most common in any diamondiferous kimberlite and thus the most likely to be recovered in small samples. The result does, however, show that the Soapy Bore Northwest kimberlite is diamondiferous and that further work on this kimberlite is warranted.

Area 6

Area 6 was identified during a field magnetic survey reported in February 2014 and targeted by a traverse of five drill holes, 14CURC48-52. This traverse intersected significant thicknesses of clay in most holes with ambiguous geochemistry suggestive of a possible kimberlite source.

Six high interest samples were submitted for diamond extraction from four of the holes (sample weights in the range 1.5-8.6kg).

One diamond was recovered from sample 50/1 from hole 14CURC50 in the centre of the traverse. The sample weighed 7.2kg and was taken from 12-24m down hole. The diamond was recovered in the +0.075-0.106mm sieve category and has a weight of 800 octocarats

(10^-8 carats). It is a white/colourless fragment with no inclusions.

Sample 50/1 is perhaps the least remarkable or distinctive of the samples tested in this round and the recovery of diamond from this sample validates the careful and systematic evaluation being carried out. 

The diamond is likely derived from a heavily weathered clay altered kimberlite dyke within the sampled interval and further drill testing at depth is warranted.

Area 1a

Area 1a was targeted by the Company with one drill hole 14CURC54 in April 2014 to test a geophysical anomaly previously tested by De Beers but where drilling had been abandoned by De Beers when the drill became bogged in swelling clays. Such clays can be a characteristic of weathered kimberlite.

Similar clays were successfully drilled in hole 14CURC54 and identified as mainly saponite, a mineral commonly derived from the weathering of kimberlite. Two samples totaling 15kg were submitted for diamond extraction from the interval 0-14m down hole. These were visually the most promising looking clay zones within the hole but no diamonds were recovered.

A 23kg sample from an additional clay zone in 14CURC54 (from 14-32m down hole) has now been submitted for diamond extraction as a further test in this hole.

Other Targets

A 2.2kg sample of the FW kimberlite dyke and a 5.75kg sample from drill hole 14CURC33 at Target 5 were processed for diamond extraction without diamond recovery.

It should be cautioned that the absence of diamonds in such small samples, such as those tested in this latest round, will not discriminate against the presence of kimberlite in such small (statistically unreliable) samples as diamonds tend to be unevenly distributed within any kimberlite body. Consequently a number of the samples where no diamonds were recovered remain of high interest based on the similar geological and chemical characteristics to those samples now found to be diamondiferous.

Ends

The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies.  Mr Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

About Sunrise Resources plc

Sunrise Resources plc is a diversified mineral exploration and development company. The Company has diamond exploration interests in Western Australia and Finland and holds a white barite project in South-West Ireland.

The Company has two gold exploration projects in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA.

It has recently staked claims over the Strike Copper Project, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA.

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

 

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