Mineral explorer Sunrise Resources Plc (LON:SRES) has completed a review of historical exploration at its Newark gold project in Nevada, with all signs pointing towards a Carlin-type gold deposit.
Surface sampling, carried out by Freeport-McMoRan Gold Co, returned anomalous gold with high values of arsenic, antinomy, thallium and barium – all of which suggest a Carlin-style deposit.
These types of deposits, characterised by invisible gold trapped in pyrite and arsenopyrite, take their name from the Carlin mine which became a mass producer of the yellow metal back in 1960s.
“This project contains all of the geochemical and structural ingredients for the occurrence of Carlin-style mineralisation and is a valuable addition to our Westgold precious metal portfolio,” said executive chairman Patrick Cheetham.
Sixteen reconnaissance holes were drilled by Freeport back in the late 1980s with one of them, hole NWK8, intersecting 47m of gold-anomalous jasperoid containing an average 0.14ppm gold from 75m.
Sunrise has said that most of the holes failed to reach target depth and so deeper drilling will be required to test the more favourable target areas.
The firm also added that the project is “favourably located” at the intersection of the Alligator Ridge and Battle Mountain-Eureka gold trends.
Shares were unchanged at 0.21p.