LONDON (Alliance News) - Sunrise Resources PLC Tuesday said it is about to launch the second phase of drilling at the Bay State silver project which should lead to assay results being published in about seven weeks.
The objective is to demonstrate continuity of mineralisation along strike, to justify a substantial resource definition drilling programme and a scoping study for the development of future mining operations.
The company plans to drill three holes to follow-up the high grade silver mineralisation found during the first phase of drilling on the project, which lies in Nevada in the US. Two holes will be drilled to test the Chihuahua vein south whilst the third will test the Lincoln vein system.
The company said archaeological clearance work has been completed and drilling will start next Tuesday, taking around two weeks to complete, with assay results then expected within six weeks of the programme being completed.
"We are pleased to be announcing a start date for drilling, and we look forward to releasing results as soon as they become available," said Executive Chairman Patrick Cheetham.
Sunrise Resources is exploring a number of precious metal, base metal and industrial mineral projects in Nevada and it also holds a royalty interest from EP Minerals in a diatomite project in the state. The business also holds a white barite project in the Republic of Ireland and interests in diamond and gold assets in Western Australia.
Sunrise shares were trading up 3.9% to 0.239 pence per share on Tuesday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Sunrise Res (SRES)