Last checked at 27 Apr 2015 07:00
27 April 2015
SUNRISE RESOURCES PLC
(the "Company")
UPDATE - NEVADA PROJECTS
Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to provide the following updates on its minerals projects in Nevada, USA:
Highlights:
· Independent testing produces high-value filtration grade flux calcined diatomite from
County Line Diatomite Project.
· Drill permitting initiated at Bay State Silver Project
· Further gold results from rock and soil sampling at Junction Gold Project
· Soil sampling completed at Garfield Gold-Copper-Silver Project - results awaited.
Commenting today, Executive Chairman Patrick Cheetham said: "I am delighted with the recent testwork results from the County Line Diatomite deposit. This is a real breakthrough that underlines the commercial potential of this large deposit. I am also pleased to be reporting further progress at other projects in Nevada."
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 |
Detailed Information
County Line Diatomite Deposit
The County Line Diatomite Project is located in southwest Nevada and comprises a large group of claims covering an extensive deposit of diatomite. Diatomite is an industrial raw material comprised of the hollow and lattice like silica skeletons of aquatic algae (diatoms). It is mainly used, after heat treatment (calcination) with or without flux addition, in the filtration of beer, wine, fats and fruit juices, etc. It is also used as an industrial filler. For use in high value filtration applications the physical and chemical properties of the calcined and flux calcined diatomite are critical. Currently demand for flux calcined diatomite is in excess of supply.
Over the past few months, two further programmes of surface sampling and testing have been carried out by an independent company. Testing has included calcination and flux calcination processing of raw diatomite and evaluation of the calcined and flux calcined products.
This testwork builds on the Company's preliminary testwork which was considered promising but was not optimized.
The Company is pleased to report that the most recent testwork was successful in producing calcined and flux calcined diatomite with key physical and chemical properties that meet the commercial requirements for use in filtration. The broken character of a significant proportion of the diatoms in the deposit was not a limiting factor.
A programme of exploration is planned to take place in May to test samples from below surface and identify areas that might support early production from the project.
A further 7 claims have been staked bringing the total number of claims on this project to 118.
Bay State Silver Project
Acquired in September 2014, the Bay State Silver Project covers the historical Bay State silver mine where the Company holds leases over patented claims and a claim block in its own right.
Following encouraging sampling results already announced the Company has moved quickly to drill planning and is pleased to announce that it has appointed Hunsaker Inc., independent geological consultants, to manage the Company's drill permit application with the U.S. Bureau of Land Management.
The Company will apply for a Notice Level Permit for an initial programme of 5 diamond drill holes (approx. 1,000m of drilling in total) to test both the Chihuahua and Lincoln vein systems below the level of historical mine workings.
Three holes will test the Chihuahua vein system over a strike length of some 320m. 11 surface samples of the Chihuahua vein returned values averaging 11.3 ounces/tonne silver over a strike length of 280m.
Two holes will test the Lincoln vein system over a 150m strike length.
The Company will also contract a specialist mine access company to access and sample the Chihuahua vein along the main development adit beyond the rock fall that has so far prevented access for underground sampling. This work is scheduled to take place for the end of this month.
It is expected that the vein sampling and drilling will allow for an initial evaluation of the silver resource potential of the Bay State Project.
Garfield Gold-Copper Project
The Garfield claims were staked last year to cover an occurrence of copper-gold bearing float material discovered by the Company's reconnaissance programmes in Nevada. The float, which contained 6% copper, 3.5 grammes/tonne gold and 4 ounces/tonne silver, is considered by the Company to have a local provenance (see announcement dated 30 June 2014).
A soil sampling programme has recently been completed to define drill targets and results are awaited. 122 soil samples were collected.
Junction Gold Project
The Junction Gold Project was acquired earlier in the year and a further field sampling programme has been carried out this month.
Rock sampling returned assay values up to 4.56 grammes/tonne gold but did not significantly extend the known mineralisation. However, a trial soil line across the mineralisation accurately pinpointed the main gold vein and suggests that soil sampling will be a useful next step to determine the size of target prior to a drilling decision.
Australian Projects
Work planned for the Company's diamond and gold projects in Australia during April was deferred due to heavy rains, flooding, and road closures in the project field areas.
Further information will be provided when this work has been rescheduled.
Ends
Note:
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 dated June 2009. 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 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