Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSunrise Res Regulatory News (SRES)

Share Price Information for Sunrise Res (SRES)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0575
Bid: 0.05
Ask: 0.065
Change: 0.01 (21.05%)
Spread: 0.015 (30.00%)
Open: 0.0475
High: 0.0575
Low: 0.0475
Prev. Close: 0.0475
SRES Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Further Diamond results, Cue Project

19 Aug 2014 07:00

RNS Number : 4437P
Sunrise Resources Plc
19 August 2014
 

 

19 August 2014

 

SUNRISE RESOURCES PLC

(the "Company")

 

CUE DIAMOND PROJECT

 

RECOVERY OF DIAMONDS FROM HIGH INTEREST SAMPLES

 

Sunrise Resources plc, the AIM traded diversified mineral exploration and development company, is pleased to report the recovery of diamonds from two high interest samples from its Cue Diamond Project ("Cue") in Western Australia.

 

 

Highlights:

 

· 15 small samples processed from 9 drill holes at 4 separate target areas

 

· Diamonds recovered from two target areas

 

· Diamonds include a yellow stone - coloured stones not previously seen at Cue

 

· Results validate the Company's exploration methods and highlight additional areas for priority follow-up.

 

 

The results being announced today are for the second batch of drill samples submitted for diamond extraction from the Company's April 2014 drill programme. The background to this sample submission was given in the Company's news release of 30 June 2014.

 

 

Commenting today, Executive Chairman Patrick Cheetham said:"This is a very pleasing development. The results confirm that the new kimberlite discovery northwest of the Soapy Bore kimberlite is diamondiferous and that at least one drill hole at Area 6 intersected diamondiferous material. The unremarkable appearance of the diamondiferous material at Area 6 suggests it could have easily been missed but for the methodical work being undertaken. Other drill Intersections with similar geology and geochemistry remain of high interest."

 

 

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/Charles Laughton (Broking)

 

Tel:

+44 (0)20 7382 1100

Yellow Jersey PR Limited

Dominic Barretto/Kelsey Traynor

Tel:

+44 (0)7768 537739

 

 

 

 

 

 

DETAILED INFORMATION

 

The samples being reported today are from the drill programme reported in the Company's news release of 28 April 2014 and are further to the update provided on 30 June following an extensive programme of geochemical analysis and mineralogical work on various high interest drill samples.

 

This earlier work unequivocally identified two new kimberlite dyke discoveries - one located 300m northwest of the Soapy Bore Kimberlite (the "Soapy Bore Northwest Kimberlite") and one at the FW Prospect (the "FW Kimberlite ") which lies to the NW of Target 5. It also identified a number of high interest samples from Target Areas 6 and 1a. First diamond sample results from these areas are presented below.

 

In total, 15 small samples from 9 drill holes at 4 separate target areas were processed for diamond extraction by caustic fusion by Saskatchewan Research Council Geoanalytical Laboratories Diamond Services ("SRC"). SRC is accredited to ISO/IEC 17025:2005. Industry standards have been followed to ensure that the Chain of Custody has been maintained.

 

Soapy Bore Northwest Kimberlite

 

Originally targeted on the basis of a surface geochemical anomaly, this kimberlite dyke discovery was made in the near surface weathered zone between 8-14m down-hole in drill hole 14CUAC44.

 

A 3.6kg sample was submitted for diamond extraction composited from the interval 11-13m downhole in 14CURC44. Two small diamonds were recovered in the +0.075-0.106mm sieve category with a weight of 1,950 octocarats (10-8 carats). One of these was broken, off-white and translucent with minor inclusions the other was a yellow fragment, transparent and with no inclusions. This is the first time a coloured stone has been found at Cue.

 

No significance should be attached to the small size of the stones recovered from such a small sample. Small stones are invariably the most common in any diamondiferous kimberlite and thus the most likely to be recovered in small samples. The result does, however, show that the Soapy Bore Northwest kimberlite is diamondiferous and that further work on this kimberlite is warranted.

 

Area 6

 

Area 6 was identified during a field magnetic survey reported in February 2014 and targeted by a traverse of five drill holes, 14CURC48-52. This traverse intersected significant thicknesses of clay in most holes with ambiguous geochemistry suggestive of a possible kimberlite source.

 

Six high interest samples were submitted for diamond extraction from four of the holes (sample weights in the range 1.5-8.6kg).

 

One diamond was recovered from sample 50/1 from hole 14CURC50 in the centre of the traverse. The sample weighed 7.2kg and was taken from 12-24m down hole. The diamond was recovered in the +0.075-0.106mm sieve category and has a weight of 800 octocarats

(10-8 carats). It is a white/colourless fragment with no inclusions.

 

Sample 50/1 is perhaps the least remarkable or distinctive of the samples tested in this round and the recovery of diamond from this sample validates the careful and systematic evaluation being carried out.

 

The diamond is likely derived from a heavily weathered clay altered kimberlite dyke within the sampled interval and further drill testing at depth is warranted.

 

Area 1a

 

Area 1a was targeted by the Company with one drill hole 14CURC54 in April 2014 to test a geophysical anomaly previously tested by De Beers but where drilling had been abandoned by De Beers when the drill became bogged in swelling clays. Such clays can be a characteristic of weathered kimberlite.

 

Similar clays were successfully drilled in hole 14CURC54 and identified as mainly saponite, a mineral commonly derived from the weathering of kimberlite. Two samples totaling 15kg were submitted for diamond extraction from the interval 0-14m down hole. These were visually the most promising looking clay zones within the hole but no diamonds were recovered.

 

A 23kg sample from an additional clay zone in 14CURC54 (from 14-32m down hole) has now been submitted for diamond extraction as a further test in this hole.

 

Other Targets

 

A 2.2kg sample of the FW kimberlite dyke and a 5.75kg sample from drill hole 14CURC33 at Target 5 were processed for diamond extraction without diamond recovery.

 

It should be cautioned that the absence of diamonds in such small samples, such as those tested in this latest round, will not discriminate against the presence of kimberlite in such small (statistically unreliable) samples as diamonds tend to be unevenly distributed within any kimberlite body. Consequently a number of the samples where no diamonds were recovered remain of high interest based on the similar geological and chemical characteristics to those samples now found to be diamondiferous.

 

Ends

 

The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

 

 

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 has 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, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA.

 

Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFLFMAFLSESA
Date   Source Headline
27th Jun 201710:39 amRNSNew Pozzolan Zone - CS Project
16th Jun 20174:56 pmRNSHolding(s) in Company
14th Jun 201711:03 amRNSCS Project - Drill Programme Update
22nd May 20177:00 amRNSHalf-year Report
18th May 20173:07 pmRNSHolding(s) in Company
5th May 20177:00 amRNSChairman's Interview
4th May 20177:00 amRNSCS Concept Study, Test Results & Strategic Review
11th Apr 201711:24 amRNSHolding(s) in Company
3rd Apr 20173:45 pmRNSDirector Dealing and Issue of Equity
23rd Mar 201712:09 pmRNSHolding(s) in Company
21st Mar 20171:40 pmRNSHolding(s) in Company
13th Mar 201710:00 amRNSCS Project - Update
7th Mar 20177:00 amRNSPlacing and Total Voting Rights
2nd Mar 20177:00 amRNSCS Project - Update
14th Feb 20178:24 amRNSCounty Line Diatomite Project
8th Feb 201711:12 amRNSHolding(s) in Company
7th Feb 20172:00 pmRNSHolding(s) in Company
1st Feb 20175:00 pmRNSShare and Warrant Issue & Total Voting Rights
31st Jan 201712:44 pmRNSResult of AGM
25th Jan 20177:00 amRNSPozz Project - 2017 Programme
24th Jan 201711:21 amRNSEnergy Metals & Minerals Initiative and Funding
22nd Dec 20164:00 pmRNSAnnual Report and Accounts and Notice of AGM
22nd Dec 20167:00 amRNSPozz Project - Positive Test Results
14th Dec 201610:17 amRNSFinal Results
30th Nov 201612:08 pmRNSTotal Voting Rights
16th Nov 201610:31 amRNSHolding(s) in Company
16th Nov 20167:00 amRNSIssue of New Ordinary Shares & Total Voting Rights
14th Nov 201610:11 amRNSPozz Project Expansion
9th Nov 201611:00 amRNSNew staking, Ridge Limestone Project
8th Nov 20162:00 pmRNSUpdate on Bay State Silver Project
24th Oct 20167:00 amRNSBay State Sampling & Drilling Results
19th Sep 20167:00 amRNSStrategy and Business Overview
31st Aug 20169:15 amRNSTotal Voting Rights
30th Aug 20162:00 pmRNSBay State Silver Project - Drill Start
15th Aug 20167:00 amRNSNevada Industrial Minerals Projects - Update
5th Aug 20162:00 pmRNSIssue of Equity
3rd Aug 20169:30 amRNSBay State Silver Project Drill Programme
27th Jul 20162:00 pmRNSProject Updates
26th Jul 20169:07 amRNSGarfield Copper-Gold Project - Update
19th Jul 20167:00 amRNSNewark Gold Project, update
13th Jul 201612:16 pmRNSHolding(s) in Company
7th Jul 20169:51 amRNSClayton Silver-Gold Project, Update
14th Jun 201611:34 amRNSHolding(s) in Company
26th May 20165:27 pmRNSHolding(s) in Company
26th May 20167:00 amRNSStrategic Financing for Precious Metal Exploration
23rd May 20167:00 amRNSHalf-Yearly Report
19th May 20167:00 amRNSNew US subsidiary and projects
12th May 20167:00 amRNSIssue of Equity
10th May 20167:00 amRNSDirectorate Change
29th Apr 201611:00 amRNSTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.