Update - Junction Project

RNS Number : 1916L

Sunrise Resources Plc

17 April 2018

 

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

17 April 2018

 VR COMMENCES 2018 SURFACE EXPLORATION AT JUNCTION; GRAVITY ANOMALY CONFIRMS THE DOWN-DIP POTENTIAL OF COPPER-SILVER VEINS

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to provide the following exploration update provided by VR Resources Ltd ("VR") for the Junction Copper-Silver-Gold Project area in Nevada, USA, in which Sunrise holds an interest.

This follows on from the recent announcement of the expansion of the project area and the discovery high grade copper-silver-gold mineralisation along a 6km trend as announced on 12 December 2017.  

Highlights:

·     2018 surface exploration at Junction underway with gravity survey already completed

·     Large high-contrast gravity anomaly at Denio Summit confirms the down dip potential of copper-silver veins, all in the Sunrise Area of Interest

·     Further exploration planned for this spring at Junction includes:

·     Induced Polarisation geophysical survey

·     Airborne magnetic and radiometric survey

VR also advises that it has increased the size of the Junction Property again by staking an additional 19 claims within the Sunrise Area of Interest.

Commenting on the news today, VR stated: "We are compelled to see the strong spatial association of the gravity anomaly and surface copper-silver showings at the Denio Summit target; the size and magnitude (density contrast) of the anomaly are evidence for the down-dip continuation of the sulphide veins, and potentially a sulphide bearing intrusive source. The overall vein system at Junction extends for six kilometres along the Antelope Shear Zone; our work this spring will increase our understanding of the entire system, and more specifically refine and evaluate the Denio Summit target for first-pass drilling."

Further information

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Nominated Adviser & Broker Edward Hutton/Matthew Johnson/Jamie Spotswood John Howes/Rob Rees	Tel:	[phone]

Additional Information

The gravity survey, now completed, covered the entire are of the Sunrise Area of Interest and extended eastwards to the full extent of the VR Property. The data was collected on a 400 metre station grid, with 200 metre infills over the Denio Summit anomaly. The grid gravity data has been merged with 51 public domain stations.

The merged grid-based and regional gravity data indicate that Junction appears to be underlain by an apophysis of a large intrusion and associated gravity high located immediately to the west. The Hall deposit (Mo-Cu-Au quartz veins in diorite) and Ashdown deposit (Cu-Ag quartz veins in granodiorite) are located at the north and south end of the intrusion, respectively.

VR has stated that the large, high contrast gravity anomaly at Denio Summit could represent the continuation of the surface copper-silver veins and dykes down-dip to the northwest. This anomaly and the associated surface mineralisation lie entirely within the Sunrise Area of Interest.

The IP Survey lines will comprise two test lines, 2 kilometres long each, over the Denio Summit gravity anomaly and adjacent surface copper-silver showings and copper-silver-gold-tungsten soil anomaly.

The airborne magnetic and radiometric survey will comprise 200 metre spaced lines with 100 metre spaced infills over key targets

The version of this news release posted on the Sunrise website will include additional illustrative maps. More complete information on the Junction property overall, including field photographs and maps, is available at the Company's website at www.sunriseresourcesplc.com

Sunrise holds shares in VR and ongoing interests in the Junction Project which may result in additional VR shares being issued to Sunrise if certain exploration milestones are met, for example drilling and resource estimation, and which includes a 3% royalty on any future production payable to Sunrise. Full details of the original sale agreement with VR are given in Sunrise's news release dated 30 August 2017.

The ongoing interests held by Sunrise relate to the original 15 mining claims staked by Sunrise, and to all claim areas staked within a 2 mile area surrounding this original mining claims (the Area of Interest).

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

 

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