Sunrise Resources PLC (LON:SRES)

Sunrise Resources PLC (LON:SRES)


Share Price
0.09 p
Change
-0.0025 (-2.78 %)
Market Cap
£2.41 m
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Sunrise Resources PLC RNS Release

VR Resources Ltd - Junction Project


RNS Number : 4621O
Sunrise Resources Plc
30 January 2019
 
30 January 2019

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

 

VR Resources Ltd - Junction Project.

 

 

Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to advise that VR Resources Ltd ("VR") has announced the drill discovery of a Cretaceous-age porphyry copper mineralised system within the 6km mineralised trend defined by earlier exploration.

 

Two reconnaissance drill holes have been completed by VR, one at each of the Denio Summit and Granite Mountain targets which lie at either end of the mineralised trend.  VR has stated that it will now advance exploration in 2019 focusing on three key targets, Denio Summit, Lone Mountain and Granite Mountain. The Denio Summit target is within the area where Sunrise holds a 3% net smelter royalty (the "Sunrise Royalty Area") and the Lone Mountain target is on the edge of this area. The Granite Mountain target is outside of the Sunrise Royalty Area.

 

In addition to its royalty interest, Sunrise holds 100,000 shares in VR and will be issued with a further 250,000 shares should VR's exploration in the Sunrise Royalty Area result in the definition of a Mineral Resource.

 

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "This is great news. VR has stated that the upside potential of the porphyry-style copper mineralization discovered in this drill program lies in its age. The Junction property is hosted within a polyphase, middle Cretaceous batholith that has the same age as the Robinson porphyry copper deposit at Ely, Nevada which has a history going back to 1876 and which is still in production today operated as a large open-pit mine by KGHM Polska Miedz S.A.. This is a proven analogue for further exploration at Junction."

 

The full text of the VR release can be found at: 

 

https://vrr.s3.amazonaws.com/news/January2019/2CYgiu4NBwdZKHx8RFSp.pdf

 

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: +44 (0)1625 838 884

 

Beaumont Cornish Limited

Nominated Adviser

James Biddle/Roland Cornish

Tel: +44 (0)207 628 3396

 

SVS Securities Plc

Broker

Tom Curran/Ben Tadd

Tel: +44 (0)203 700 0093

 

 

 

Note:

 

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.

 

 

Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com

 


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 [email protected] or visit www.rns.com.
 
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