Project Update Clayton Silver-Gold Project

RNS Number : 5799E

Sunrise Resources Plc

09 November 2020

 

9 November 2020

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

Project  Update

  Clayton Silver-Gold Project, Nevada USA  (100% owned by Sunrise)

Further to its announcement of 27 October the Company wishes to advise that it has now completed the planned drill hole at its Clayton Silver-Gold Project in the Walker Lane Mineral Belt, Nevada USA.

The hole was terminated at a depth of 104.7m having passed through the target zone. The hole was designed to twin and deepen a historic drill hole CL-15 which intersected 7.6m grading
165 grammes/tonne silver (4.8 ounces/ton) and 0.4 g/t gold from 82.3m depth to the base of hole at 89.9m depth.

Drilling conditions were extremely difficult, and progress was slow due to heavy faulting and extensive zones of swelling clays in fractured and hydrothermally altered rock. Whilst these geological conditions can be favourable indications for mineralisation, core recovery was very poor as a result.

Drill core samples have been removed to Reno for detailed logging, assay and analysis. Results will not be available for several weeks as there are backlogs at all the major analytical laboratories in Nevada due to the current high-level of exploration activity.

Commenting today, Executive Chairman Patrick Cheetham said:    "We look forward to receiving the assay results and will advise on the next steps for its Clayton Project once the results have been evaluated."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel: [phone]
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish	Tel: [phone]
Peterhouse Capital Limited Broker Lucy Williams/Duncan Vasey	Tel: [phone]

Notes:

1. 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.

2. 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.

3. 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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