Bay State Silver Project Drill Programme

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:	[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

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

 

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