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Alliance News


Sunrise Resources Partner Set To Begin Drilling At Junction Project

Wed, 7th Nov 2018 17:34


LONDON (Alliance News) - Sunrise Resources PLC said Wednesday investee VR Resources Ltd is making field preparations for a first pass diamond drill programme at the Junction copper-silver-gold project located in the US state of Nevada.

Sunrise holds an interest in the project after selling it to VR Resources. As part of the transaction, Sunrise is owed further shares in VR Resources, if a drill programme is conducted.

VR Resources has received final approvals for required drill permits, a drill contract has been executed, and start-up is planned for later this month.

"I am pleased that VR is shortly to commence its drill programme, an event that will trigger a further issue of shares to Sunrise. Whilst our focus remains firmly on developing the CS Project in Nevada, this news is a useful reminder of the value that we have built up in our wider portfolio of drill stage exploration projects," said Sunrise Executive Chairman Patrick Cheetham.

One drill target, Denio Summit, occurs wholly within Sunrise's area of interest shows a series of mineralized quartz-feldspar granite dykes and gold-bearing quartz veins at surface along a 1.5 kilometre trend.

Shares in Sunrise Resources closed up 5.8% Wednesday at 0.16 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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