TIDMSRES
RNS Number : 4670L
Sunrise Resources Plc
13 January 2021
13 January 2021
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
Project Updates
Sunrise Resources plc is pleased to provide the following
project updates:
CS Pozzolan-Perlite Project, Nevada, USA (100% Sunrise)
-- Mining of 500-ton pozzolan sample completed on schedule in
collaboration with large cement and ready-mix company (CRMC) and
delivered to CRMC for processing and use in commercial concrete
trials.
-- Mining of additional 200-ton perlite sample completed and delivered to processing site.
Sundance Gold Project, Nevada, USA (New Project (100%
Sunrise)
-- Nine claims staked in Walker Lane Mineral Belt in same area
as 1.8 million ounce past producing Denton-Rawhide Gold-Silver
Mine.
-- Anomalous bedrock gold mineralisation in altered and quartz veined volcanics.
-- Soil sampling programme completed - gold in soil anomaly identified for further testing.
Baker's Gold Project, Western Australia (100% Sunrise)
-- Aboriginal Heritage Survey completed.
-- No Aboriginal sites identified - planned drill programme approved.
-- Five RC drill holes planned to test three target areas
including old mine workings, areas of gold nugget production and a
large gold-in soil geochemical anomaly.
-- Drill quotes being obtained, drilling to start as soon as possible.
Commenting today Sunrise Executive Chairman Patrick Cheetham,
said : "We have hit the ground running in 2021 with work continuing
across our project portfolio. We anticipate a high level of
activity now that our CS Project is permitted for production and as
we continue the exploration of our precious metals projects in
Nevada and Australia. The assay results from drilling at our
Clayton Silver-Gold Project in Nevada are now keenly awaited."
This announcement contains inside information as defined in
Article 7 of EU Regulation 596/2014.
Further information:
Sunrise Resources plc Tel: +44 (0)1625 838 884
Patrick Cheetham, Executive
Chairman
Tel: +44 (0)207 628 3396
Beaumont Cornish Limited
Nominated Adviser
James Biddle/Roland Cornish
Tel: +44 (0)207 469 0930
Peterhouse Capital Limited
Broker
Lucy Williams/Duncan Vasey
Detailed information
CS Pozzolan-Perlite Project, Nevada USA
The commencement of mining of a 500-ton bulk sample of pozzolan
was advised to shareholders in a news announcement dated 17
December 2020. The programme went smoothly and on budget with 498
tons of natural pozzolan delivered to the CRMC on schedule on a
shared cost basis.
As disclosed on 17 December 2020, t he sample will be ground in
the CRMC's existing mill and will be used in a number of separate
commercial concrete pours where the natural pozzolan will be
substituted for a proportion of ordinary Portland cement in the
concrete mixes.
The Company took advantage of mining equipment on site and a
back-haul opportunity to extract a further 200-ton sample of
perlite and this has been delivered to a processing site in Nevada
for processing into additional horticultural grade raw perlite for
ongoing market trials by potential off-takers.
Sundance Gold Project, Nevada, USA
The Sundance Gold Project is a new project for the Company
located approximately 90 miles southeast of Reno, Nevada. Access to
the project is excellent via a
well-maintained County road.
The project is located in the central portion of the Walker Lane
Mineral Belt, a major northwest-trending structural zone that is
host to numerous productive epithermal gold and silver deposits,
and it is in the same area as the past producing Denton-Rawhide
Mine (1.8 million ounces gold and 15.6 million ounces of silver
production) and the currently producing Isabella Pearl Mine.
The Company has staked nine mining claims within an extensive
regional alteration zone that includes the Isabella Pearl to the
southeast. The area is being targeted following the Company's
discovery of anomalous gold in surface samples containing up to 0.4
grammes/tonne gold in clay altered and quartz veined volcanic
rocks. The Company has recently completed an initial soil sampling
programme with 124 soil samples collected at 20m intervals on seven
lines spaced between 50 and 100m apart centered on this area of
interest .
Anomalous gold-in-soil values have were returned on most sample
lines with values up to 168 ppb gold and a 60m width >100 ppb
gold on one particular sample traverse. Whilst this particular
gold-anomalous area is located above bedrock, the project area is
laced with alluvial channels where soil samples are not likely to
be representative of the underlying bedrock and so there is no
coherent anomaly pattern.
However, the Company considers that the anomalous gold values at
surface may represent the halo to more significant mineralisation
as is the case at Isabella Pearl where drilling earlier in 2020
returned intersections of 26m of 18 g/t gold and 84m of 8 g/t gold
below lower grade mineralisation at surface.
The Company is planning a mapping and trenching programme to
follow up its anomalous gold results.
Baker's Gold Project, Western Australia
In December 2020, the Company commissioned Yugunga-Nya Heritage
Pty Ltd to undertake an archaeological and ethnographic survey for
the proposed exploration drilling program planned by Sunrise
Minerals Australia at the Bakers Project which lies within
Yugunga-Nya lands. The survey fieldwork was completed on 15
December 2020 and the survey report has now been received.
The objective of the fieldwork was to complete a survey that
identified and recorded any archaeological and/or ethnographic site
within the Baker's Project survey area and assess whether any
archaeological and/or ethnographic site potentially meets the
requirements of Section 5 of the Aboriginal Heritage Act 1972
(AHA).
During the archaeological and ethnographic survey the whole of
the Baker's Project survey area was assessed. No archaeological
sites were identified within the three proposed drill areas, and no
ethnographic sites were mentioned by Yugunga-Nya representatives as
being within project tenements.
The survey has cleared the way for the Company to undertake its
proposed drill programme which includes an initial five reverse
circulation drill holes to test three separate gold targets which
old mine workings, areas of gold nugget production and a gold-in
soil geochemical anomaly. Drill planning is in progress and further
details will be provided once a drilling contractor has been
secured and a drill start is scheduled.
Notes:
1. Units: ppb =parts per billion
g/t - grammes per tonne
1,000 ppb =1 g/t
2. Forward Looking Statements.
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward-looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties, and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely unduly on any forward-looking statements and save
as required by the AIM Rules for Companies or by law, the Company
does not accept any obligation to disseminate any updates or
revisions to such forward-looking statements.
3. Covid-19
To date the Covid-19 pandemic has not affected the progress of
the Company's projects. Mining is considered an essential industry
in Nevada and existing operations are progressing largely as
normal, as is mineral exploration. However, the future impact of
Covid infections in Nevada and more widely in the US is
unpredictable. Travel bans are still in place between the US and
the UK and many US companies have self-imposed internal travel
bans. These factors have the potential to negatively affect and
delay the Company's plans.
4. Qualified Person Information
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.
Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com
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