Sunrise Resources Plc Newark Gold Project, update (5211E)

TIDMSRES

RNS Number : 5211E

Sunrise Resources Plc

19 July 2016

SUNRISE RESOURCES PLC

(the "Company")

19 July 2016

Newark Gold Project

(Westgold Inc.)

Further to its announcement of 19 May 2016 Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded diversified mineral exploration and development company ("the Company") advises that it has completed a review of historical exploration carried out at its Newark Gold Project in Nevada by Freeport-McMoRan Gold Co ("Freeport") and is pleased to provide the following information:

HIGHLIGHTS:

-- Targeting Carlin-style gold mineralisation which includes some of the largest gold deposits in the world.

-- Favourably located at intersection of the Alligator Ridge and Battle Mountain-Eureka gold trends.

-- Freeport surface sampling returned anomalous gold with high values of Carlin-style geochemical indicator elements arsenic, antimony, thallium and barium.

-- A major silicified structure is associated with favourable north-south striking anticline "trap".

   --     16 reconnaissance holes drilled by Freeport in 1986-87: 

-- Hole NWK8 intersected 47 m of gold-anomalous jasperoid containing an average 0.14 ppm gold from 75m to the end of hole at 122 m.

   --    A number of the follow-up holes failed to reach target depth. 
   --     Deeper drilling is required to test the favourable target horizons. 
   --     Company's reconnaissance surface samples confirm prospective geochemistry. 

Commenting today, Executive Chairman Patrick Cheetham said: "This Project contains all of the geochemical and structural ingredients for the occurrence of Carlin-style mineralisation and is a valuable addition to our Westgold precious metal portfolio."

Further information:

 
 Sunrise Resources plc 
  Patrick Cheetham, Executive 
  Chairman                       Tel:    [phone] 
 
 Northland Capital Partners 
  Limited 
  Nominated Adviser & Broker 
  Edward Hutton/David Hignell 
  John Howes/Rob Rees            Tel:    [phone] 
 Beaufort Securities Limited 
  Joint Broker 
  Jon Belliss                    Tel:    [phone] 
 

Detailed Information

Nevada is the one of the largest gold producing regions in the world with production of 5 million ounces recorded in 2014. Most of this production comes from so-called "Carlin-style" gold deposits where microscopic gold particles occur in silicified, carbonaceous and decalcified silty limestones.

Carlin-style deposits are visually unremarkable and were only recognized as a distinct style of gold deposit with the discovery of the Carlin deposit in 1961. Since then numerous discoveries have been made many of which are currently producing. They can be both large (e.g. Goldstrike which contains 39 million ounces gold at a grade of 3.3 g/t) and high-grade (e.g. Barrick's recent Goldrush discovery which contains 8.6 million ounces gold at a grade of 10.6 g/t).

The majority of known Carlin-style deposits occur in one of a small number of linear belts ("trends") believed to reflect regional crustal discontinuities. Favourable factors include chemically receptive limestone host rocks, particularly where folded into anticlines and cut by suitable fault structures. The silicification of the host rocks that accompanies gold mineralisation is often manifest at or near surface by so-called jasperoids containing anomalous levels of the elements arsenic, antimony, thallium, barium and mercury.

The Newark Gold Project is located at the southern end of the Battle Mountain-Eureka (Cortez) gold trend where intersected by the projection of the Alligator Ridge gold trend. It lies 40 km south of and along the same structural zone as the past-producing Alligator Ridge Mine, 12 km north of the Mt. Hamilton Gold Project and 20 km east of the Pan Gold Mine.

The Newark Project was originally targeted by Freeport-McMoRan Gold Co. in the 1980s following the discovery of gold anomalous values in silicified rocks in a favorable structural and stratigraphic setting. Surface sampling returned a high of 0.18 ppm gold along with high arsenic, antimony and thallium.

Freeport drilled a total of 16 holes. Significantly, hole NWK8 intersected 47m of low-level gold (average 0.14 ppm) gold in jasperoid from 75m to the end of the hole at 122m. All holes targeted the Chainman Shale but not the more prospective lower levels of the stratigraphy (Joanna Limestone and Pilot Shale) which are now known to host most of the gold in the deposits in this region.

In April this year the Company staked 29 mining claims covering the core of the prospective area. A field visit was carried out in June and a number of surface samples collected have confirmed the anomalous geochemistry. It is likely that the Company's future exploration at Newark will include soil sampling and a deeper drill hole at the location of hole NWK8.

This Company's Newark field visit was part of a wider fieldwork and reconnaissance programme carried out in Nevada during June. The programme included a small trenching programme at the Garfield Copper-Gold Project, where analytical results should be available shortly, and reconnaissance of a number of areas not currently subject to claim and where follow-up evaluation and sampling is currently underway.

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament.

The information in this release is sourced from archived information held by the Nevada Bureau of Mines & Geology and from privately held sources associated with the previous exploration programmes. It 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"

http://www.sunriseresourcesplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 19, 2016 02:00 ET (06:00 GMT)