Last checked at 4 Dec 2023 13:55
4 December 2023
SUNRISE RESOURCES PLC
("Sunrise" or the "Company")
Garfield Royalty Interest
Sunrise Resources plc notes the announcement made today by Golden Metal Resources plc, ("GMR") owner of the Garfield Copper Project in the Walker Lane Mineral Belt, Nevada USA where Sunrise holds a 2% Net Smelter Return Royalty.
Under the heading "Potential for Tier 1 Copper Deposit" GMR has announced "extensive high-grade copper, silver and gold mineralisation from laboratory assay testing undertaken following the recently completed ground exploration?" and that "?the mineralisation now confirmed through the rock sample laboratory assay results extends over a large footprint which indicates the potential for Garfield to host a material copper deposit including:
- High-Grade Zone: >1% copper results returned over an area of approximately 1500 x 500m (open in multiple directions); and
- across the entire Project: >1% copper results returned over an area of approximately 3000 x 1500m (open in multiple directions)."
Further details can be found at:
https://polaris.brighterir.com/public/golden_metal_resources/news/rns/story/x4o8n0w
With additional background at:
https://polaris.brighterir.com/public/golden_metal_resources/news/rns/story/w6mmoqx
Commenting today, Executive Chairman Patrick Cheetham said:
Sunrise made the original surface discovery of copper-gold mineralisation at Garfield so we are pleased to see GMR continuing the exploration that we started at Garfield, prior to selling the project. We always look to retain a royalty when we sell projects as royalty interest are readily realisable at all stages of exploration and development. We will follow GMR's progress with great interest."
Sunrise holds a 2% royalty over the Powerline Zone and the majority of the High-Grade Zone. GMR may purchase one half of the royalty interest for US$1million. For further details see:https://www.sunriseresourcesplc.com/garfield-copper-gold-project-nevada
Sunrise also holds a royalty interest over the Stonewall Project held by GMR.
"Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
Peterhouse Capital Limited Broker Lucy Williams/Duncan Vasey
| Tel: +44 (0)207 469 0930
|
Shares in the Company trade on AIM.
EPIC: "SRES". Website: www.sunriseresourcesplc.com