Sunrise Resources Plc (LON:SRES) has released the results of historic test-work conducted by former owner Freeport McMoRan on its Clayton silver-gold project.
The work was carried out in the 1980s and consisted of 21 shallow holes drilled across the property which hit significant silver intersections.
These included 6.1 metres at 155 grams per tonne, three metres at 165 grams per tonne and 7.6 metres grading 165 grams per tonne.
In addition, a number of holes ended in mineralisation or did not reach target depth due to difficult drilling conditions.
What’s more, Freeport concluded that grades were likely understated due to the loss of fine silver-bearing sulphide minerals during the drilling programme.
With this information now plugged into previous work that Sunrise has done on the Clayton property, the decision has now been taken to undertake a fresh drill campaign.
“We are delighted to have acquired this project at a time of rising silver prices and at low cost as a keystone for the precious metal portfolio we are now assembling in our new subsidiary Westgold Inc,” said Sunrise’s executive chairman Patrick Cheetham.
“The silver intersection at the base of hole CL-15 warrants follow up diamond drilling as originally recommended by Freeport’s exploration team.”