New Project, Ireland

 

TIDMSDS 
 
RNS Number : 0501D 
Sunrise Diamonds PLC 
25 November 2009 
 

 
 
 
 
 
 
www.sunrisediamonds.com 
25 November 2009 
PROSPECTING LICENCE FOR BARITE IN SW IRELAND 
 
 
  *  Previous Drilling Encountered High-Value White Barite Mineralisation 
 
  *  Market Opportunity For New European Producer of Paint-Grade Barite Filler 
 
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Sunrise Diamonds plc ("Sunrise" or "the Company") is pleased to announce that it 
has been granted a Prospecting Licence for base metals, barite, silver, gold and 
platinum group elements near Bantry, County Cork, in the south-west of Ireland. 
 
 
The Company is targeting the Derryginagh barite deposit for the production of 
high-value white "paint-grade" barite for use as mineral filler in paints and 
plastics. White paint-grade barite is the highest-value use for barite having 
significant sales volumes. Off-white barite is used as a lower value mineral 
filler and high volumes of low-grade barite are used as a weighting agent in 
drilling mud in the oil and gas industry. 
 
 
The Derrryginagh mine was worked in the period 1864-1922, supplying white barite 
to the local paint industry. The mine workings extend over a strike length of 
200m and to a maximum depth of 60m. In the 1970s the mine workings were 
de-watered and mapped by a local company and in the 1980s four inclined holes 
were drilled to intersect the barite vein at 100 meters below surface by Dresser 
Minerals International Inc., which at that time was a major supplier of drilling 
mud grade barite around the world. 
 
All four Dresser holes intersected white barite over an average interpreted 
"true" width of 2.4m and over a total strike length of 200m, with the vein being 
open along strike and at depth. 
 
 
There is a significant demand for white paint-grade barite in Europe but there 
is no major mine supply outside of China and India. Consequently there is a 
niche opportunity for a new European supplier as China's own internal demand 
limits traditional exports. The price currently quoted for white paint-grade 
barite is GBP195-220/tonne delivered to the UK. 
 
 
The Company will collect samples of the barite mineralisation for metallurgical 
characterisation and quality testing before undertaking further drilling and 
economic evaluation. 
 
 
The Derryginagh barite project is the second new project recently announced by 
the Company as it seeks to broaden its geographical base and widen its commodity 
interests which, until recently, have been focused on diamond exploration in 
Finland. 
 
 
 
 
Further information: 
 
 
Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone]. Mobile: 
[phone] 
Brett Miller/Gavin Burnell, Astaire Securities plc. Tel: [phone] 
 
 
 
 
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. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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