Sunrise Resources Plc NEW MINING CLAIMS: REESE RIDGE PROJECT (9636S)
15 März 2023 - 8:00AM
UK Regulatory
TIDMSRES
RNS Number : 9636S
Sunrise Resources Plc
15 March 2023
15 March 2023
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
NEW MINING CLAIMS: REESE RIDGE PROJECT
Sunrise Resources plc, the AIM-traded company focusing on the
development of its three key Nevada based industrial mineral
projects, wishes to announce that it has staked 27 new mining
claims (the "Reese Ridge Project") to cover targets for gold and
base metals in central Nevada immediately adjacent to its Ridge
Limestone Project.
-- Project located on the south side of the prospective Humboldt Structural Zone.
-- Numerous gossans and alteration zones at surface with grab
samples up to 15.8% zinc, 3.3% copper, 0.37g/t gold and 51g/t
silver in separate samples with multiple pathfinder elements,
including arsenic and thallium.
-- Satellite imagery shows large alteration areas associated with this mineralisation.
-- Significant low resistivity target identified below the surface mineralisation.
-- Target prospective for a number of different styles of mineralisation.
The Reese Ridge Project lies adjacent to the Reese River
geothermal system which has been, and continues to be, explored for
geothermal energy. This exploration has included use of a number of
geophysical techniques common to the mineral exploration industry,
including VTEM(TM) and MT electromagnetic methods. These surveys
have overlapped the area of the Company's new claims.
Both VTEM(TM) and MT surveys have independently identified a
zone of low-resistivity at a depth of about 250m below the surface
mineralisation in prospective lower-plate sediments. This low
resistivity zone is now considered a prime drill target and, in its
geological setting, is considered prospective for a number of
styles of mineralisation commonly found in Nevada, including
Carlin-type gold deposits, carbonate replacement lead-zinc-silver
deposits and epithermal gold/silver deposits.
Commenting today, Executive Chairman Patrick Cheetham said:
"The staking of the Reese Ridge claims is consistent with our
policy to generate 100% owned attractive exploration projects at
very low cost to be sold or joint ventured to other companies, and
to mitigate risk from over exposure to one project or resource. We
have already done this successfully with our Garfield, Stonewall,
Jackson's Wash and Pioche Projects.
The mineralisation we are seeing at surface at Reese Ridge is
associated with a significant heat cell boundary fault for the
adjacent geothermal system and, we believe, may represent
upper-level leakage from a larger mineralised source at depth
expressed as a resistivity anomaly. It is a stand-out target for
drill testing and has exciting potential.
Whilst our resources are focused on the continued development of
our key projects, we believe the staking of such geologically
interesting opportunities can prove very accretive to shareholder
value as demonstrated by our Pioche Project."
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 set out below is provided in accordance with the
requirements of Article 19(3) of 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').
Technical Glossary
Gossan: An exposed, oxidised portion of a mineral deposit, often
rust-coloured due to a high content of iron oxide formed from the
oxidation of metallic sulphide minerals.
VTEM(TM): Versatile Time Domain Electromagnetic . A low
frequency geophysical exploration system developed, patented and
trademarked by Geotech. VTEM(TM) has good depth penetration and is
useful for detecting conductive sulphides and discriminating
between low and high resistivity zones. Zones of low resistivity
can be due to sulphides and/or clay alteration associated with a
number of styles of mineralisation commonly found in Nevada.
MT: Magnetotelluric. An electro-magnetic survey and imaging
system that use naturally-occurring ionospheric current sheets and
lightning storms - passive energy sources - to map geologic
structures to depths of up to 500 metres or more. The MT
geophysical survey method combines measurements of the earth's
electric field and magnetic field over a wide band of frequencies.
Low frequencies sample deep into the earth and high frequencies
correspond to shallow samples.
Lower Plate: In Nevada, a term used to define rocks occurring
below the Roberts Mountain Thrust fault which separates two broad
layers of sedimentary rock: the "Upper Plate" and "Lower Plate".
Limestones and silty limestones in the Lower Plate host most of the
major Carlin-type gold deposits in the region. The Upper Plate does
not typically host large Carlin-type gold mineralisation, but can
contain indications of mineralisation in Lower Plate rocks that has
"leaked" upwards from Lower Plate mineral deposits. At Reese Ridge,
Lower Plate and Upper Plate rocks occur side by side due to
extensive faulting and differential vertical movements.
Note:
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCQZLFFXXLZBBL
(END) Dow Jones Newswires
March 15, 2023 03:00 ET (07:00 GMT)
Sunrise Resources (AQSE:SRES.GB)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Sunrise Resources (AQSE:SRES.GB)
Historical Stock Chart
Von Dez 2023 bis Dez 2024