Last checked at 19 Aug 2015 07:00
(the "Company")
DRILL CONTRACT SIGNED FOR BAY STATE SILVER PROJECT, NEVADA
DRILLING TO START NEXT WEEK
Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to announce that it has signed a contract with Boart Longyear for a drill programme at its Bay State Silver Project in Nevada, USA.
The drill and drill crew will mobilise to site on Monday 24th August for an immediate drill start; drill access roads and drill pads have already been constructed.
As previously advised, the first phase of drilling is expected to comprise 3 holes at 150-200m spacing to test for mineralisation beneath existing workings on the Chihuahua Vein system and one of these holes will also test the area where bonanza silver grades were recently obtained from underground sampling (see announcement of 1 June 2015).
The Phase 1 drill programme comprises approximately 500m of diamond drilling and is expected to last about two weeks, with analytical results available within eight weeks, subject to satisfactory drill conditions and analytical laboratory turnaround times.
Commenting today, Executive Chairman Patrick Cheetham said: "This is the first modern exploration programme on the Chihuahua Vein system and we anticipate this initial drill programme will provide valuable grade and geological information and pave the way for more substantial programmes of drilling aimed at resource definition."
A Company presentation focused on the Bay State Silver Project and the upcoming drill programme will be available on the Company's website this morning.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0) 845 868 4590 |
Northland Capital Partners Limited Edward Hutton/David Hignell John Howes/Mark Treharne (Broking)
| Tel: | +44 (0)20 7382 1100
|
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor | Tel: | +44 (0)7768 537739 |
About the Bay State Silver Project
The Bay State Silver Project is located on the west flank of the Newark Valley in Eastern Nevada, 15km due east of the County town of Eureka. It was acquired by the Company in September 2014 and further claims were recently added to the project.
The mine was worked for silver in the 1870s and again in the 1900s when mining focused on two main NW-SE striking vein sets hosted within limestone. The largest workings are on the Chihuahua and Buckeye State Patents which together cover a strike length of some 900m and extend north and south of Mining Canyon along the Chihuahua Vein System. Two shafts were sunk on the border between these two patents, near the floor of the canyon, and are reported to extend to a depth of 120m with production mainly from extensive stopes above the 60m level. The Chihuahua Vein dips steeply to the west.
In the 1940s tungsten mineralisation was reportedly discovered in the upper workings of the Chihuahua Adit and was worked during the war years providing tungsten for the war effort. The tungsten was reported to occur as a replacement mineralisation within limestone beds.
The Company first acquired rights to the Bay State Silver Project in late 2014 and has since completed a number of surface and underground sampling programmes.
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral exploration and development company.
The Company's objective is to develop profitable mining operations to sustain the Company's wider exploration efforts and create value for shareholders through the discovery of world-class deposits.
The Company has diamond and gold exploration interests in Western Australia and has staked claims and acquired leases over a number of projects in Nevada, USA, most recently at the Junction Gold Project.
The Company also holds diamond exploration interests in Finland and a white barite project in South-West Ireland.
Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com