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Update - Junction Project

17 Apr 2018 12:41

RNS Number : 1916L
Sunrise Resources Plc
17 April 2018
 

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

 

17 April 2018

 

 

 VR COMMENCES 2018 SURFACE EXPLORATION AT JUNCTION; GRAVITY ANOMALY CONFIRMS THE DOWN-DIP POTENTIAL OF COPPER-SILVER VEINS

 

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to provide the following exploration update provided by VR Resources Ltd ("VR") for the Junction Copper-Silver-Gold Project area in Nevada, USA, in which Sunrise holds an interest.

 

This follows on from the recent announcement of the expansion of the project area and the discovery high grade copper-silver-gold mineralisation along a 6km trend as announced on 12 December 2017.

 

Highlights:

 

· 2018 surface exploration at Junction underway with gravity survey already completed

 

· Large high-contrast gravity anomaly at Denio Summit confirms the down dip potential of copper-silver veins, all in the Sunrise Area of Interest

 

· Further exploration planned for this spring at Junction includes:

 

· Induced Polarisation geophysical survey

 

· Airborne magnetic and radiometric survey

 

VR also advises that it has increased the size of the Junction Property again by staking an additional 19 claims within the Sunrise Area of Interest.

 

Commenting on the news today, VR stated: "We are compelled to see the strong spatial association of the gravity anomaly and surface copper-silver showings at the Denio Summit target; the size and magnitude (density contrast) of the anomaly are evidence for the down-dip continuation of the sulphide veins, and potentially a sulphide bearing intrusive source. The overall vein system at Junction extends for six kilometres along the Antelope Shear Zone; our work this spring will increase our understanding of the entire system, and more specifically refine and evaluate the Denio Summit target for first-pass drilling."

 

 

Further information

 

Sunrise Resources plc

Patrick Cheetham, Executive Chairman

Tel:

+44 (0)1625 838 884

Northland Capital Partners Limited

Nominated Adviser & Broker

Edward Hutton/Matthew Johnson/Jamie Spotswood

John Howes/Rob Rees

 

 

 

Tel:

+44 (0)20 3861 6625

 

 

 

 

Additional Information

 

The gravity survey, now completed, covered the entire are of the Sunrise Area of Interest and extended eastwards to the full extent of the VR Property. The data was collected on a 400 metre station grid, with 200 metre infills over the Denio Summit anomaly. The grid gravity data has been merged with 51 public domain stations.

 

The merged grid-based and regional gravity data indicate that Junction appears to be underlain by an apophysis of a large intrusion and associated gravity high located immediately to the west. The Hall deposit (Mo-Cu-Au quartz veins in diorite) and Ashdown deposit (Cu-Ag quartz veins in granodiorite) are located at the north and south end of the intrusion, respectively.

 

VR has stated that the large, high contrast gravity anomaly at Denio Summit could represent the continuation of the surface copper-silver veins and dykes down-dip to the northwest. This anomaly and the associated surface mineralisation lie entirely within the Sunrise Area of Interest.

 

The IP Survey lines will comprise two test lines, 2 kilometres long each, over the Denio Summit gravity anomaly and adjacent surface copper-silver showings and copper-silver-gold-tungsten soil anomaly.

 

The airborne magnetic and radiometric survey will comprise 200 metre spaced lines with 100 metre spaced infills over key targets

 

The version of this news release posted on the Sunrise website will include additional illustrative maps. More complete information on the Junction property overall, including field photographs and maps, is available at the Company's website at www.sunriseresourcesplc.com

 

Sunrise holds shares in VR and ongoing interests in the Junction Project which may result in additional VR shares being issued to Sunrise if certain exploration milestones are met, for example drilling and resource estimation, and which includes a 3% royalty on any future production payable to Sunrise. Full details of the original sale agreement with VR are given in Sunrise's news release dated 30 August 2017.

 

The ongoing interests held by Sunrise relate to the original 15 mining claims staked by Sunrise, and to all claim areas staked within a 2 mile area surrounding this original mining claims (the Area of Interest).

 

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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRFKODKDBKDBQD
Date   Source Headline
30th Jan 20197:00 amRNSVR Resources Ltd - Junction Project
9th Jan 20197:00 amRNSPlacing and Total Voting Rights
3rd Jan 20197:00 amRNSNEWPERL PROJECT - TEST RESULTS
20th Dec 201811:00 amRNSPosting of Annual Accounts and Notice of AGM
20th Dec 20187:00 amRNSDirector's Dealing
18th Dec 20187:00 amRNSVR Resources Ltd - Junction Project Update
11th Dec 20182:39 pmRNSFinal Results
7th Dec 20187:00 amRNSAppointment of Nominated Adviser
26th Nov 20187:00 amRNSUpdate re Nominated Adviser Status
7th Nov 20182:41 pmRNSJunction Project - Exploration Update
7th Nov 201812:34 pmRNSDirector Dealing, Issue of Equity, TVR
1st Nov 20183:53 pmRNSNominated Adviser Status
31st Oct 20187:00 amRNSNewPerl Project - new perlite discoveries
30th Oct 20187:00 amRNSCS Project - Update
3rd Sep 20187:00 amRNSCS Project - Commercial Trials
22nd Aug 201810:31 amRNSDirector dealing and issue of equity
24th Jul 20182:45 pmRNSPlacing and Total Voting Rights
11th Jul 20181:55 pmRNSJunction Project - Exploration Update
4th Jul 20187:00 amRNSCS Project - Update
11th Jun 20188:00 amRNSAdmission to AIM of Block Energy plc
4th Jun 20187:00 amRNSCS Project - 2nd Offtake MOU
21st May 201810:30 amRNSHalf-year Report
27th Apr 20187:00 amRNSCS Project - Offtake MOU
19th Apr 20187:00 amRNSBaker's Gold Project - Exploration Update
17th Apr 201812:41 pmRNSUpdate - Junction Project
5th Apr 20184:08 pmRNSUpdate - Junction Project
27th Mar 20187:00 amRNSCS Project Update
2nd Mar 20181:23 pmRNSStatement re Joint Broker
16th Feb 20187:00 amRNSCS Project - Positive Drilling Results
1st Feb 20181:31 pmRNSIssue of Warrants
31st Jan 201812:15 pmRNSResult of AGM
22nd Jan 201810:00 amRNSProject Updates
29th Dec 20177:00 amRNSTotal Voting Rights
22nd Dec 201710:26 amRNSCS Project Drill Start
21st Dec 20177:00 amRNSAnnual Report and Accounts and Notice of AGM
13th Dec 20174:21 pmRNSFinal Results
12th Dec 20178:33 amRNSHigh grade discovery, Junction Project
11th Dec 20177:00 amRNSPermit, Mine-Plan Drill Programme
6th Dec 20173:00 pmRNSPlacing and Total Voting Rights
20th Nov 20177:00 amRNSUpdate - Junction Project
1st Nov 201710:09 amRNSDirector Dealing and Issue of Equity
30th Oct 201711:41 amRNSDirector/PDMR Shareholding
16th Oct 20177:00 amRNSCS Project Update & New Discovery
20th Sep 20178:30 amRNSCompletion of Sale of Junction Gold Project
4th Sep 20177:00 amRNSCS Pozzolan-Perlite Project - Testwork Update
30th Aug 20177:00 amRNSSale of Junction Gold (-Copper) Project
3rd Aug 20177:00 amRNSCS Project - Drilling Update
20th Jul 20178:47 amRNSNew Website
13th Jul 20177:00 amRNSCS Project Drilling & Trenching Update
29th Jun 201711:11 amRNSPlacing and Total Voting Rights

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