LONDON (Alliance News) - Sunrise Resources PLC on Thursday said "significant" silver intersections were drilled at the Clayton silver-gold project in Nevada.
The mineral exploration & development company said 21 shallow holes were drilled with significant silver intersections, including 6.1 metres at 4.5 ounces of silver per tonne of ore at Hole CC-2, 3.0 metres at 4.8 ounces of silver per tonne of ore at Hole CC-6, and 7.6 metres at 4.8 ounces of silver per tonne of ore at Hole CL-15.
A number of holes did not reach the target depth due to difficult drilling conditions, Sunrise said. Grades were likely understated due to loss of fine silver-bearing sulphide minerals during the drilling programme.
"We are delighted to have acquired this project at a time of rising silver prices and at low cost as a keystone for the precious metal portfolio we are now assembling in our new subsidiary Westgold Inc. The silver intersection at the base of hole CL-15 warrants follow up diamond drilling as originally recommended by Freeport's exploration team," Executive Chairman Patrick Cheetham said in a statement.
Shares in Sunrise Resources were trading down 6.8% at 0.172 pence on Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Sunrise Res (SRES)