Sunrise Resources Plc (LON:SRES), the diversified mineral exploration and development company, is to conduct more drilling at its Bay State silver project in Nevada.
It plans to drill three more holes after finding high-grade silver mineralisation in the first phase of drilling.
Two of the holes will test the Chihuahua vein, south of Mining Canyon and beneath 19th and 20th century mine workings, while the third will be the first test of the Lincoln vein system.
"High-grade silver mineralisation was encountered in all three holes in our first phase of drilling on the Chihuahua vein, so I am pleased to be announcing a contract for follow up drilling as well as a proposal for our first drill test of the parallel Lincoln Vein,” said Patrick Cheetham, executive chairman of Sunrise.
“Our key objective in this next phase of drilling is to demonstrate continuity of mineralisation along strike; to justify a substantial resource definition drilling programme, and a scoping study for the development of future silver mining operations," he explained.
Shares in Sunrise were little changed in a flat market on Wednesday afternoon.