Last checked at 27 Mar 2014 07:00
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
27 March 2014
PROJECT UPDATE
Drilling to commence shortly at Cue Diamond Project
Positive sampling results from Strike Copper Project
Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to announce the start of drilling at its Cue Diamond project in Western Australia and positive initial sampling results from its Strike Copper Project in Nevada.
KEY POINTS:
Cue Diamond Project, Western Australia
· Drill contract signed for Cue Diamond Project.
· Drilling to start on or around 1st April 2014.
· Programme aims to evaluate diamond content of Soapy Bore kimberlite and test
other targets including a source for diamondiferous kimberlite float at Target 5.
Strike Copper Project, Nevada, USA
· Preliminary chip samples from workings and trenches returned values up to 3.14%
copper over 1.8m and 0.70% over 6.0m.
· Grab samples returned values up to 2.64% copper.
· Soil sampling now planned for drill targeting.
Commenting on today's news, Executive Chairman Patrick Cheetham said: "Following our recent fundraising we are progressing quickly with our planned exploration programmes and I am pleased to be announcing the start of drilling at the Cue Diamond Project in Australia and the positive sampling results from the Strike Copper Project in Nevada where follow up work is now being planned."
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0) 845 868 4590 |
Northland Capital Partners Limited Gavin Burnell/Edward Hutton Alice Lane/Mark Simpson (Broking)
| Tel: | +44 (0)20 7382 1100 |
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor
| Tel: | +44 (0)7768 537739 |
DETAILED INFORMATION
CUE DIAMOND PROJECT
The 100% owned Cue Diamond Project is located in the Murchison Mining District 80km northwest of the town of Cue in Western Australia. The area was explored in the 1990s by De Beers who located kimberlites in two areas within the Company's licence area just prior to a decision to quit all diamond exploration in Australia. The two known in-situ kimberlite occurrences are at Cue1 and Soapy Bore.
To date, exploration by Sunrise, including drilling of the Cue 1 kimberlite, has confirmed the high diamond prospectivity of the licence area and resulted in the discovery of new occurrences of diamondiferous kimberlite on surface as well as defining several other targets for follow up.
During December 2013 the Company carried out a programme of ground magnetic surveying in a number of separate areas in order to enhance drill targeting and earlier this month the Company completed an Aboriginal Heritage Survey clearing access to the current drill targets.
More detailed information on the objectives of the current drill programme and the targets to be tested were given in the news release dated 13th February 2014.
The drill programme is expected to commence on 1st April and will last 2-3 weeks. A further announcement on the initial findings of the programme will be made once the programme has been completed.
STRIKE COPPER PROJECT
The Strike Copper Project is located approximately 225 km southeast of Reno, Nevada and comprises six claims which have been staked to cover an area of outcropping oxide-copper mineralisation.
The claims are located within the large Walker Lane mineral belt, a major fault zone running parallel to the Nevada-California border. This mineral belt has been a prolific producer of gold and silver from epithermal deposits and hosts a number of major porphyry and skarn type copper and molybdenum deposits.
At the Strike Copper Project oxide-copper minerals outcrop at surface and have been exposed in a number of prospector workings and bulldozer trenches in what appears to be a skarn geological environment.
During the claim staking programme the Company collected 11 chip and grab samples from existing workings and trenches in mineralisation that extend over an area approximately 800m x 250m. Analytical results, now available, show an average copper content for the 11 samples of 0.71% copper. Grab samples returned values up to 2.64% copper and results from chip samples included:
Sample 139769 - 1.8m grading 3.14% copper in chip sample across existing workings.
Sample 139775 - 6.0m grading 0.70% copper in chip sample through existing trench.
These two chip samples are approximately 300m apart and the sampling results generally are consistent with the historical record which refers to a single drill hole which intersected 30m at 0.98% copper in the first 30m from surface. Gold values in the samples were low.
The results justify drill testing and a programme of soil geochemistry is now planned to better define drill targets.
About Sunrise Resources plc
Sunrise Resources plc is a diversified mineral exploration and development company.
The Company has diamond exploration interests in Western Australia and Finland and holds a white barite project in South-West Ireland.
The Company holds applications for two gold exploration projects in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA. It has recently staked claims over the Strike Copper Project and the County Line Diatomite Project in Nevada, USA.
Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com