Last checked at 27 Jul 2016 14:00
SUNRISE RESOURCES PLC
27 July 2016
Project Updates
Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded diversified mineral exploration and development company ("the Company"), is pleased to provide the following project updates.
New Project, Nevada
The Company has staked 15 claims (SW1-15) over the Stonewall epithermal gold prospect in the Goldfield area of the Walker Lane Mineral Belt as an addition to the gold-and silver project portfolio it is building in its 100% owned Westgold Inc. subsidiary.
The Stonewall claims have been staked to cover a large vein structure showing epithermal vein textures commonly associated with gold and silver mineralisation. The Company is currently researching historical exploration results from the area and will release a further update when this becomes available.
Baker's and Corona Gold Projects, Australia
The Company has carried out an internal review of project priorities in Australia and has decided to focus on its Baker's Gold Project and consequently has surrendered its Corona Gold Project, Exploration Licence (E51/1586), ahead of the next annual rental payment.
The Company carried out soil sampling programmes at Corona and Baker's in 2014 and 2015 and whilst low level anomalies were identified at Corona they are considered to be a lower priority for follow up compared to the significant gold in soil anomaly found at Baker's. This anomaly occurs at the Dicky Lee Prospect where alluvial and secondary nugget gold specimens have also been found by recreational and professional prospectors.
The Company will seek a joint venture partner to test the drill-ready targets at Baker's.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0)1625 838 884 |
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Northland Capital Partners Limited Nominated Adviser & Broker Edward Hutton/David Hignell John Howes/Rob Rees
| Tel: | +44 (0)20 3861 6625
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Beaufort Securities Limited Joint Broker Jon Belliss | Tel: | +44 (0)20 7382 8300 |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No.596/2014 of the European Parliament and of the Council.
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.
Notes to Editors:
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral exploration and development company. The Company's objective is to develop profitable mining operations to sustain the Company's wider exploration efforts and create value for shareholders through the discovery of world-class deposits.
The Company is exploring a number of precious metal, base metal and industrial mineral projects in Nevada, USA. The Company holds a royalty interest from EP Minerals in a diatomite project in Nevada and holds a white barite project in South-West Ireland. The Company also holds diamond and gold exploration interests in Western Australia.
Shares in the Company trade on AIM. EPIC: "SRES"
Website: www.sunriseresourcesplc.com