Sunrise Res Regulatory News (SRES)

13 Oct 2005 08:00

Sunrise Diamonds PLC13 October 2005 www.sunrisediamonds.com October 13, 2005 MICRO-DIAMONDS FOUND IN NEW KIMBERLITE CLUSTER AT KUUSAMO, FINLAND • 5 Micro-Diamonds Recovered From Core Sample Of Kimberlite 45 • Till Sampling Results Identify High Priority Diamond Indicator Mineral Trains • Further Magnetic Targets Identified In Proximity To New Discoveries________________________________________________________________________________ Sunrise Diamonds plc, ("Sunrise Diamonds" or "the Company") is pleased toannounce that it has recovered five micro-diamonds from a drill core sample ofKimberlite 45 at its Kuusamo exploration area in northern Finland where theCompany has discovered a new kimberlite cluster, with five separate kimberlitesidentified to date. The results confirm the diamond prospectivity of the Earth's mantle beneath theKuusamo project area, previously only inferred from indicator mineral chemistry,and vindicate the Company's exploration strategy. The five micro-diamonds were recovered from a sample of Kimberlite 45 weighing25.6kg analysed at Kennecott's Laboratory in Canada (accredited to ISO/IEC17025). All are fragments and have a longest axis between 0.27mm and 0.39mm.Four are white and transparent with minimal resorption whilst one is grey andtransparent with no evident resorption. Samples from a second kimberlite, Kimberlite 47, did not return micro-diamondsbut mineralogical work during the summer reveal it to be a higher-leveldiatreme-type kimberlite, unlike Kimberlite 45 and the earlier discoveries atKuusamo which are all hypabyssal-type occurrences. Kimberlite 47 thus indicatesthat the discovery of larger kimberlites is possible in the Kuusamo area as notall of the pipes are eroded to their hypabyssal roots. Till sampling during the summer has identified several trains of kimberliteindicator minerals that need to be followed up with further sampling anddrilling. These include mineral trains containing diamond-diagnostic G10pyrope-garnets, kimberlitic ilmenites, chrome diopsides and chromites and are ofa notably higher order than those associated with the kimberlite discoveriesmade to date. Kimberlites 45 and 47 were drilled solely on the basis of their magneticsignature. The magnetic data from the areas surrounding these kimberlites hasnow been re-processed and this has identified additional priority drill targetsin the vicinity of Kimberlites 45 and 47. Commenting on the results, Sunrise Chairman Mr. Patrick Cheetham said today "Thediscovery of micro-diamonds at Kuusamo is a major milestone for Sunrise and hasbeen achieved on a very limited budget. We are look forward to the very realpossibility of further discoveries in this exciting new kimberlite field." ABOUT SUNRISE DIAMONDS Sunrise Diamonds plc is exploring for diamonds in the Karelian Craton in Finland- a geological block that is host to world-class diamondiferous kimberlites atGrib and Lomonosova in the Arkhangelsk region of neighbouring Russia. The Company was formed in 2005 to continue the diamond exploration activities ofits parent, Tertiary Minerals plc. A pre-IPO fundraising was completed as anentitlement issue to the shareholders of Tertiary Minerals and was followed witha placing on AIM admission on 6 June 2005. In 2004 Tertiary Minerals discovered two new kimberlites in the Kuusamo districtof northern Finland in what is now known as the Kuusamo kimberlite cluster. Since admission to AIM on 6 June the Company has progressed quickly in itsevaluation of its untested targets at Kuusamo and, to-date, two new kimberlitediscoveries have been made one of which is now known to be diamondiferous. The Company intends to progressively test priority targets defined by acombination of magnetic anomalies and kimberlite indicator minerals. Indicatormineral sampling and picking is continuing. The Company continues to work closely with the diamond experts at the GeologicalSurvey of Finland (GTK), its main consultant and contractor and gratefullyacknowledges their contribution to the success of the programmes to date. Further Information: Patrick Cheetham, Sunrise Diamonds plc. Tel: +44 (0)1625-505947. Mobile: +44 (0) 7767-458751 John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518 This information is provided by RNS The company news service from the London Stock Exchange