TIDMSRES
RNS Number : 3947D
Sunrise Resources Plc
29 June 2021
29 June 2021
Sunrise Resources plc ("Sunrise" or "the Company")
Baker's Project - Drilling Results
Sunrise Resources plc is pleased to advise that high-grade gold
assay results have been received from the recently completed drill
programme at its wholly owned Baker's Gold Project in the
Meekatharra District of the Murchison Goldfield in Western
Australia.
Highlights:
Ø Five holes drilled to depths of 100-200m for a total of
589m.
Ø Hole 21SBRC002 on DLR4 Target intersected 2m grading 11.5 g/t
gold from 64m downhole:
Ø Includes 1m grading 20.4 g/t gold from 64m;
Ø Drill testing of the Dicky Lee pit encountered multiple narrow
zones of low-grade Au mineralisation - best intersection of 1m
grading 2.2 g/t gold.
Commenting today, Executive Chairman Patrick Cheetham said :
"The objective of the drilling was to enhance the value of the
project for sale or joint venture whilst remaining focused on the
development of our CS Pozzolan-Perlite Project in Nevada. The drill
programme was completed on schedule and under budget. The
high-grade gold drill intersection in hole 21SBRC002 was made in a
three-hole traverse drilled to test beneath a surface gold-in-soil
anomaly and warrants immediate follow up. The soil anomalies extend
over 500m so we are hopeful that the mineralisation will have good
strike extent, but further drilling will be required to determine
the full potential of this high-grade mineralisation. The
Meekatharra District has a long history of production from rich
gold deposits with several million ounces of gold already produced
and in remaining defined resources with active production from a
number of open pit and underground mines."
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
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 which forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com
Detailed Information
The Baker's Gold Project is located 25 kilometres south-east of
Meekatharra in the Murchison Goldfield of Western Australia. It
lies on the eastern limb of the Meekatharra Greenstone Belt which
has yielded several million ounces of gold and contains a number of
present and past producing gold mines.
The project area has seen various rounds of historical
exploration including separate programmes of wide-spaced but
shallow percussion drilling.
Sunrise has previously carried out mapping and three rounds of
soil sampling generating a number of gold-in-soil anomalies which,
together with historical exploration results, have defined the
three targets which have recently been drill tested.
Five holes were drilled for a total of 589m using the reverse
circulation percussion method as detailed in the Company's news
release of 29 April 2021. Drill samples were collected every metre
down hole and analysed for gold at independent geochemical
laboratory, ALS Perth, using 50g charge fire assays(2) .
Significant results are presented in the table below.
DLR4 Target
The Target is named after the hole number of a shallow historic
rotary air blast drill hole (DLR4) which was completed by
Australian Consolidated Minerals in 1987. Historic hole DLR4
averaged 0.55 g/t gold over the 22m interval from 2m down hole
depth to the end of hole at 24m and the final 2m sample assayed
1.17 g/t gold.
Project-wide and follow-up soil sampling carried out by Sunrise
defined a 500m long zone of gold-in-soil anomalies centred on hole
DLR4. Quartz float can be observed at surface and appears to be the
target for the historical drilling.
Three holes, 21SBRC002, 3 & 5, were drilled at 50m spacing
in a fence configuration across the soil anomaly with the most
north-easterly hole in the traverse, 21SBRC002, encountering
high-grade gold mineralisation proximal to historical hole DLR4. A
2m interval from 64m down hole (approximately 50m below surface)
graded 11.50 g/t gold and included a 1m interval grading 20.40 g/t
gold. A 7-metre zone with low-grade gold values was intersected
immediately below.
The Company believes the DLR4 Target to be highly prospective
being currently open along strike and at depth. Further drilling is
justified to determine the orientation and extent of the newly
discovered high-grade mineralisation.
Dicky Lee Target
One hole was drilled at the Dicky Lee pit, 21SBRC001, to follow
up on historical drill results which encountered wide intervals of
low-grade gold mineralisation.
21SBRC001 was drilled to a depth of 196m and intersected a
number of narrow low-grade gold mineralisation with a best
intersection of 1m grading 2.19 g/t Au.
Third Target
The Third Target was a narrow zone of prospector scale working
where sampling by the Company has returned high gold values. This
target was speculative and tested by a single drill hole,
21SBRC004, but no significant results were returned.
Table of Significant Assay Results (down hole intervals)(3)
Target Hole Number From (m) To (m) Interval (m) Gold Grade (g/t)
============= ========= ======= =============
DLR4 21SBRC002 62 63 1 0.27
64 66 2 11.50
includes 64 65 1 20.40
66 73 7 0.34
------------------------- --------- ------- ------------- -----------------
Dicky Lee 21SBRC001 8 9 1 0.55
11 12 1 0.65
19 20 1 0.32
37 38 1 0.35
44 45 1 0.36
47 48 1 2.19
66 70 4 0.36
========================= ========= ======= ============= =================
A plan showing the location of the features described in this
announcement will be available on the Baker's project page of the
Company's website at:
https://www.sunriseresourcesplc.com/bakers-gold-project-australia
Notes:
1. Units: ppb = parts per billion
ppm = parts per million
g/t = grammes/tonne
1000ppb = 1ppm
1ppm = 1 g/tonne
1% = 10,000ppm
1 (Troy) ounce =31.105g
m= meters
2. Drilling was conducted by Wizard Drilling using the reverse
circulation percussion method under supervision of a RSCMME (RSC
Mining and Mineral Exploration Services) contract geologist.
Samples were collected every metre of the drilling run and
transported under chain of custody to ALS Minerals facilities in
Perth, Western Australia (ALS) for sample preparation and analysis.
Samples were prepared using method code PREP-31Y and analysed by
method AU-AA26, an o re grade fire assay with AAS finish. ALS
carries out duplicate and standard materials analysis as part of
its internal QA/QC procedures. Sunrise QA/QC standard samples were
also inserted into the sample run as part of the sample
submission.
3. Significant results are reported at a 0.25g/t gold cut-off.
4. 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.
5. 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 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.
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