VR Resources Ltd - Junction Project
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-div 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:
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Sunrise Resources plc
Patrick Cheetham, Executive Chairman
Tel: +44 (0)1625 838 884
Beaumont Cornish Limited
James Biddle/Roland Cornish
Tel: +44 (0)207 628 3396
SVS Securities Plc
Tom Curran/Ben Tadd
Tel: +44 (0)203 700 0093
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