Cue Diamond Project - new Kimberlite Occurrences

RNS Number : 5065S

Sunrise Resources Plc

03 December 2012

 



3 December 2012

SUNRISE RESOURCES PLC

CUE DIAMOND PROJECT - NEW KIMBERLITE OCCURRENCES

Sunrise Resources plc ("Sunrise" or "the Company"), the AIM-quoted diversified mineral exploration and development specialist, is pleased to announce the discovery of two new surface occurrences of kimberlite on its Cue diamond Project in Western Australia.

Key Points:

·     Large area of kimberlite ¹float discovered at Target 5 within a parallel trend to Cue 1 kimberlite.

·     Kimberlite float also found outside of licence area at Target 8. New licence application made to cover Target 8.

·     Target 5 contains largest spread of kimberlite float (over 100m diameter) found on the project area to date.

The new areas of kimberlite float were found during a prospecting programme in areas containing high levels of kimberlite indicator minerals in stream sediments that had been recorded by De Beers in the 1990s but not followed up.

Commenting on today's announcement, Patrick Cheetham, Executive Chairman, said: "These new kimberlite occurrences are not associated with the trend of the known Cue 1 or Soapy Bore diamond bearing kimberlite dyke swarms and so point to entirely new kimberlite occurrences.

"These are exciting discoveries and add substantially to the potential of the Cue project."

Drill samples from the Cue1 kimberlite are currently being processed in Canada for diamond evaluation.

Further information:

Sunrise Resources plc                                                     Tel:  [phone]

Patrick Cheetham, Executive Chairman                

Northland Capital Partners Limited                                Tel: [phone]

Gavin Burnell / Edward Hutton

Alice Lane /John-Henry Wicks (Broking)

Yellow Jersey PR Limited                                                Tel: [phone]

Dominic Barretto                                           

Notes:

1. "Float" refers to rock now occurring on the current land surface which has broken from the original in-situ source body by natural weathering processes.

2.  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.

Notes to Editors

Sunrise Resources plc is a diversified mineral exploration and development specialist.

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 evaluating a product opportunity for white barite in south-west Ireland and diamond exploration interests in Western Australia and Finland.

Shares in the Company trade on AIM under the symbol "SRES".

http://www.sunriseresourcesplc.com

 

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