Project Updates

RNS Number : 6625V

Sunrise Resources Plc

30 October 2014

 

SUNRISE RESOURCES PLC

30 October 2014

PROJECT UPDATES

Sunrise Resources plc, the AIM quoted diversified mineral exploration and development company ("the Company") is pleased to provide the following update on its Australian exploration projects.

Corona Gold Project, Western Australia

·     Soil sampling programme completed. 523 soil samples collected on 200m x 200m grid.

·     Analytical results show point anomalies up to 62ppb gold (against 1ppb background).

·     50m x 50m infill anomaly sampling to take place next week to define drill targets.

·     Further soil results expected in 4 weeks.

Baker's Gold Project, Western Australia

·     534 samples collected on 200m x 100m and 100m x 50m grids.

·     Analytical results expected within 3 weeks.

Cue Diamond Project, Western Australia

·     Further geological and geophysical work planned in lead up to drill sampling of new kimberlite dike discoveries and further drill testing for source of Target 5 kimberlite float.

·     Evaluation of diamonds recovered in 2014 confirms reliability of reported stone size data; no further work planned for Soapy Bore Kimberlite as a result.

Commenting today, Executive Chairman Patrick Cheetham said: "I am pleased to be reporting progress on all of our Australian projects where the Cue Diamond Project continues to be a high priority. We are advancing exploration across our project portfolio and look forward to updating shareholders soon on work at our Nevada projects and to reporting further results as they become available."

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

Corona Gold Project, Western Australia

The Company has completed a soil sampling programme at its Corona project in the Murchison Goldfield of Western Australia.

523 soil samples have been collected on a 200m x 200m grid over an area of 20 square kilometres. All samples were analysed for gold and other trace elements at independent laboratory ¹Labwest in Perth, Western Australia, by Labwest's ExpressAu+20 method.

Analytical results show point anomalies up to 62 ppb (parts per billion) gold against a background of approximately 1ppb.  The current soil sample grid spacing, designed to cover a large area, is too wide to pin-point drill targets but the anomaly levels suggest drill targets may be defined with further infill sampling. Infill sampling on a 50m x 50m grid around the main anomalous samples will take place next week. Results should be available in approximately four weeks.

Baker's Gold Project, Western Australia

The Company has also completed a soil sampling programme at its Baker's Gold Project, 26km north of Corona.

534 soil samples have been collected and are being submitted for analysis to Labwest with results anticipated in approximately three weeks.

Cue Diamond Project, Western Australia

The Company has planned further geological and geophysical work prior to the end of the year with a focus on locating additional drill targets for the source of the Target 5 diamondiferous kimberlite float and on refining a follow up drill programme for further sampling of the new Soapy Bore Northwest and Area 6 kimberlite dike discoveries.

In the Company's release of 12 August 2014 the diamond size distribution was reported for diamonds recovered from a percussion drill hole through the Soapy Bore kimberlite. The size distribution was described as less favourable than that of the diamonds from Target 5 samples and a decision on processing further quantities of Soapy Bore kimberlite for diamond recovery was deferred pending investigation of stone breakage during drilling which has potential to negatively affect the interpretation of diamond grade.

A review of the diamonds recovered from the Soapy Bore kimberlite and the kimberlites discovered during the last reported drill programme has been made by a gemologist at the Diamond Services division of SRC Geoanalytical Laboratories (SRC). This review suggests that diamond breakage during the percussion drilling process is not significant. Consequently the Company has concluded that, where sampled, the diamond grade of the Soapy Bore kimberlite is likely to be low and no further work is planned for this kimberlite.

The SRC review will allow the Company to continue the use of the cheaper percussion drilling methods and to place more reliance on the diamond size distribution data in future.

The Cue Project remains a high priority for the Company.

Ends

1.         LabWest is accredited by NATA to ISO/IEC 17025 standard and the scope of accreditation includes all of its geochemical analysis techniques.  NATA is the peak accreditation body in Australia for accreditation of testing facilities, and ISO17025 is the international standard against which laboratories world-wide are assessed.

2.         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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