TIDMSRES
RNS Number : 4619J
Sunrise Resources Plc
23 August 2021
23 August 2021
Sunrise Resources plc ("Sunrise" or "the Company")
Baker's Gold Project - Drilling Results Update
Sunrise Resources plc is pleased to announce a 25% increase in
gold grades from re-analysis of the reported high-grade drill
samples at its Baker's Gold Project in Western Australia when
compared to those announced on 29 June 2021.
Highlights:
Ø Routine re-analysis of high-grade samples carried out to
evaluate possible nugget effect.
Ø New reporting interval in Hole 21SBRC002 on DLR4 Target,
analysed by 1kg bulk cyanide leach and leach tail fire assay:
2m grading 14.4 g/t gold from 64m downhole including 1m grading
26.5 g/t gold.
Ø Previously reported interval from Hole 21SBRC002 on DLR4
Target analysed by 50g fire assay:
2m grading 11.5 g/t gold from 64m downhole including 1m grading
20.4 g/t gold.
Ø 95% of contained gold is cyanide leachable.
Commenting today, Executive Chairman Patrick Cheetham said :
"This is a pleasing result as the prime objective in conducting the
re-analysis was to make sure the original analysis did not
over-report the gold content due to the potential for the nugget
effect. The higher values being reported today are considered to be
a more accurate measure of the gold grade due to the larger sample
size."
More detailed information can be found below
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 a
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 Company's Baker's prospecting licences contain a number of
areas where metal detecting has previously produced significant
quantities of gold nuggets and gold-quartz specimens.
Information on the drill programme caried out at Baker's, and
the results obtained, is contained in the Company's announcement of
29 June 2021.
In any sample containing gold, the gold grains can be variable
in size and/or unevenly distributed through the sample (so called
nuggety distribution). Consequently, the larger the sample the more
likely that it will contain a representative number and size of
gold grains.
Routinely individual drill samples of approx. 2-4kg are
submitted to the analytical laboratory where typically they are
crushed to a size 70% below 2mm and then a split off the crushed
sample, typically 250g-1kg is pulverised to a size of 85% below 75
microns. An aliquot ("charge") is taken from the pulverised
material for extraction and measurement of the gold content and the
balance of the pulp, the pulp reject, is stored.
In traditional wet chemical methods only 0.25-0.75 grammes of
pulverised sample is chemically digested for gold extraction. A
fire assay method is preferred because a larger (10-50g) charge is
used for gold extraction and measurement and the extraction is
usually considered total.
The analytical results reported on 29 June 2021 were for 50g
fire assays. Since reporting, and as a check to eliminate any
possible nugget effect, the pulp rejects from four one-metre drill
samples comprising the two one-metre drill samples previously
reported and the sample one metre either side were re-submitted for
analysis by 1kg cyanide leach. In this method, a 1kg sample is
leached with a cyanide solution to extract the cyanide soluble
gold. The leach residue (tail) was then assayed by 50g fire assay
to allow determination of the total gold content.
This combined method has the advantage that gold is extracted
from a much larger sample and it eliminates or at least reduces the
nugget effect.
The table below shows the results of the original analysis (50g
fire assay) and the re-analysis (1kg cyanide leach and 50g fire
assay of the leach tail):
Results indicate that gold was previously under-reported, and
the high-grade intersection is now reported as 2m grading 14.4 g/t
gold from 64m downhole including 1m grading 26.5 g/t gold.
The results also show that 95% of the gold in the sample is
cyanide soluble, a favourable metallurgical indication.
Original Analysis Check Analysis
-----------------------------------------
Fire Assay Cyanide Leach Tail Fire Assay Total
-------------- ---------------- -------
Hole Number From (m) To (m) Au g/t Au g/t Au g/t Au g/t
------------------ -------------- ---------------- -------
21SBRC002 63 64 0.02 0.02 0.01 0.03
--------- ------- ------------------ -------------- ---------------- -------
64 65 20.40 25.30 1.21 26.51
--------- ------- ------------------ -------------- ---------------- -------
65 66 2.59 2.14 0.08 2.22
--------- ------- ------------------ -------------- ---------------- -------
66 67 0.51 0.56 0.04 0.60
--------- ------- ------------------ -------------- ---------------- -------
Notes:
1. Units: m=metres
g/t = grammes/tonne
1ppm = 1 g/tonne
1 (Troy) ounce =31.105g
2. 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. Samples were
originally analysed by method AU-AA26, a 50g fire assay with AAS
finish. Samples were subsequently re-analysed using method codes
An-CN12/ ME-CON02.
3. 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
original sample submission.
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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END
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