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LONDON (Alliance News) - Sunrise Resources PLC said Thursday that the recent exploration at its gold project in Australia has returned positive samples.
However individual veins were "generally narrow" and so grades being reported "cannot be considered representative of the deposit as whole", Sunrise said.
No attempt was made to systematically evaluate the grade of the hydrothermally altered host dolerite, the company added, although the few samples taken assayed up to 1.4 grammes per tonne gold.
The Baker's gold project in Western Australia was mapped and chip sampling of gold bearing quartz-stockwork veins in the Dicky Lee open pit was carried out.
The results showed gold values to 32.1 grammes per tonne, averaging 1.7 grammes per tonne gold.
Infill soil sampling at DRL4, 750 metres south west of the Dicky Lee pit, confirms 500 metre long gold-in-soil anomaly.
Executive Chairman Patrick Cheetham said: "These new and positive exploration results were generated at low cost and enhance the value and marketability of the Baker's Gold project as we continue our divestment programme of non-core assets and focus on the development our CS Pozzolan-Perlite project in Nevada, USA."
Shares in Sunrise were down 4.3% Thursday to 0.13 pence each.
