Nevada Projects Update

RNS Number : 4863X

Sunrise Resources Plc

20 November 2014

 



          SUNRISE RESOURCES PLC

20 November 2014

NEVADA PROJECTS UPDATE      

Sunrise Resources plc, the AIM quoted diversified mineral exploration and development company ("the Company"), is pleased to provide positive updates on its Bay State Silver and County Line Diatomite Projects in Nevada, USA.

Bay State Silver Project

·     Preliminary reconnaissance sampling completed in two campaigns

·     11 samples from first campaign average 11.3 ounces/ton silver along a 280 metre strike length of the Chihuahua-Buckeye vein system

·     New areas of mineralisation discovered - breccia sample from unworked outcrop east of the Chihuahua vein assays 26.3 ounces/ton silver

·     Second sampling campaign includes samples from Lincoln vein system. Results expected in 4 weeks

County Line Diatomite Project, Nevada USA

·     Further 36 claims staked to cover additional areas of diatomite

·     Total claim coverage increased to over 8 square kilometres, mostly underlain by diatomite

·     Additional samples now under evaluation

Commenting today, Executive Chairman Patrick Cheetham said: "Whilst it is early days in our evaluation of the Bay State Silver Project I am delighted to be reporting high grade sampling results over a significant strike length on the main vein Chihuahua-Buckeye vein system as well as the discovery of a new occurrence of high grade silver mineralisation. It is an exciting start to the project."

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

Bay State Silver Project, Nevada USA

Following the acquisition of an interest in the historic Bay State Silver Mine in September the Company has moved quickly to make an initial evaluation of the project and in the past three weeks has completed two sampling campaigns. The objective of this sampling has been to evaluate the condition of mine workings, collect samples of veins and wall rock material within existing mine workings and facilitate the planning of a more comprehensive sampling campaign.

The first sampling campaign was mainly limited to sampling on the adjoining Chihuahua and Buckeye patents which lie north and south respectively of Mine Canyon. Eleven samples were taken on the main Chihuahua-Buckeye vein system over a strike length of 280m. The Chihuahua adit and associated workings are known to extend along the vein system a further 200 metres north of the sampled area but a collapse 30 metres into the Chihuahua adit prevented access to this section of the mine workings.

The Chihuahua-Buckeye vein system is complex and comprises at least two main veins and a number of vein-splays. The main veins are up to 2 metres wide and contain silver and base metal sulphides with a central rib richer in silver sulphides. The veins are often paralleled by silicified breccia and vein stockworks which can be several metres in thickness. In the old mine workings only the higher grade parts of the vein system were extracted in narrow stopes accessed from adits, shafts and open workings into the canyon walls leaving the lower grade parts of the vein system in place.

The recent sampling campaigns were reconnaissance in nature. Sample types varied from systematic chip samples across unmined vein material in the narrow stopes to more random chips of vein material along adit walls and in one case, dump material. The very steep terrain, collapse of some mine workings and general safety considerations limited the locations where samples could be taken.

The vein sections available for sampling likely represents the lower grade material left behind by past mining activity. Nevertheless, the 11 samples taken from the Chihuahua-Buckeye vein system returned silver values ranging from 1.2 to 29.2 ounces/ton silver and averaging 11.3 ounces/ton silver. Seven of the 11 samples assayed greater than 10 ounces/ton silver. The samples also returned significant base metal values, most notably zinc with a highest value of 7.2% zinc.

Whilst accessing the upper Chihuahua workings, a sulphide rich breccia was discovered in the canyon wall east of the Chihuahua vein. A sample of this breccia returned a very high silver assay - 26.3 ounces/ton silver. The outcrop is surrounded by scree and therefore the extent and significance of this new discovery is yet to be determined.

These initial sampling results are impressive and demonstrate continuity of silver mineralisation over significant strike lengths on the Chihuahua-Buckeye patents. Mining did not extend deeper than 60 metres below the canyon floor and, as there is no reason to believe the mineralisation does not continue at depth, the entire vein system below 60 meters presents an exciting exploration target.

In the second sampling campaign completed this last week further samples were taken including samples from the Lincoln vein system and from other areas of geological interest within the Company's claim block. Results for these samples are expected in about 4 weeks.

County Line, Diatomite Project, Nevada USA

The Company has staked a further 36 claims to cover northern extensions to the surface occurrence of the diatomite deposit demonstrated by the Company's recent exploration.

The Company now controls 101 claims over an area in excess of 8 square kilometres, most of which is occupied by surface outcrops of diatomite.

Additional surface samples from the project are currently under evaluation.

Ends

Note:    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 and gold exploration interests in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA. It has staked claims over the Strike Copper Project, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA and most recently has acquired an interest in the Bay State Silver 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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