Sunrise Resources Plc Bay State Silver Project Drill Programme (1131G)
03 August 2016 - 9:30AM
UK Regulatory
TIDMSRES
RNS Number : 1131G
Sunrise Resources Plc
03 August 2016
SUNRISE RESOURCES PLC
3 August 2016
Bay State Silver Project - Drill Programme
Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded
diversified mineral exploration and development company ("the
Company"), is pleased to announce that it has signed a contract for
a further drill programme at its Bay State Silver Project in
Nevada.
HIGHLIGHTS:
-- Three further drill holes planned as follow up to high-grade
silver mineralisation found in Phase 1 drilling.
-- Two holes to test Chihuahua Vein south of Mining Canyon and
beneath 19(th) /20(th) Century mine workings.
-- Additional hole planned as first test of Lincoln Vein System.
-- Archaeological clearance work underway.
-- Programme start provisionally scheduled for end of August.
Commenting today, Executive Chairman Patrick Cheetham said:
"High-grade silver mineralisation was encountered in all three
holes in our first phase of drilling on the Chihuahua Vein, so I am
pleased to be announcing a contract for follow up drilling as well
as a proposal for our first drill test of the parallel Lincoln
Vein. Our key objective in this next phase of drilling is to
demonstrate continuity of mineralisation along strike; to justify a
substantial resource definition drilling programme, and a scoping
study for the development of future silver mining operations".
Further information:
Sunrise Resources plc
Patrick Cheetham, Executive Chairman Tel: +44 (0)1625 838 884
Northland Capital Partners Limited
Nominated Adviser & Broker
Edward Hutton/David Hignell
John Howes/Rob Rees Tel: +44 (0)20 3861 6625
Beaufort Securities Limited
Joint Broker
Jon Belliss Tel: +44 (0)20 7382 8300
Detailed Information
An agreement has now been signed with drill contractor Boart
Longyear for the provision of drill services for Phase 2 drilling
at the Company's Bay State Silver Project in Nevada.
The new drill programme will follow up the positive results from
Phase 1 drilling where high-grade silver mineralisation was
intersected in all three drill holes (1,460g/t silver over 0.2m;
566g/t silver over 0.5m & 503g/t silver over 1.4m - for further
details see news release dated 22 October 2015).
Two holes are planned to test the Chihuahua Vein System to the
south of Mining Canyon and along strike from the areas tested in
Phase 1 and will target the Chihuahua Vein beneath the deepest
levels of the historical mine workings which last produced high
grade silver ore in the late 19(th) and early 20(th) centuries.
A third hole is designed as a shallow test of the parallel
Lincoln Vein system and this will be the first hole the Company has
drilled on this target. The Lincoln Vein has yielded good silver
grades in the Company's surface sampling but was only worked by
shallow surface diggings in the past.
The success of the Company's Phase 1 drill programme was aided
by a prior programme of mapping and sampling within the Chihuahua
adit that extends north from Mining Canyon. A similar mapping and
sampling exercise was attempted by the same technical team earlier
this summer in the historical workings south of Mining Canyon but
was curtailed due to the poor condition of the old mine workings.
The down dip projection of the Chihuahua Vein south of Mining
Canyon is therefore based on historical mine plans and surface
mapping.
Phase 2 drilling will be carried out using a reverse circulation
drilling method rather than with diamond drilling as this is
significantly cheaper and will allow for additional drill meterage
on the same budget.
The planned drill collars are located on federal land and close
to man-made features associated with the old mine and so an
archaeological survey has been commissioned to determine an
appropriate avoidance strategy, if required.
Currently the drill programme is scheduled to start around the
end of August but an exact start date will depend on the time taken
for the completion of both the archaeological work and the prior
work commitments of the drill rig assigned to this project. A
further announcement will be made when a firm start date is
available.
Further information on the Bay State Silver Project, including
maps, photos, previous drilling results and an underground video
tour of the Chihuahua Adit are available on the Bay State Project
page of the Company website,
http://www.sunriseresourcesplc.com/projects/bay-state-silver-project
Notes:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 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
This information is provided by RNS
The company news service from the London Stock Exchange
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