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Sunrise Resources commissions exploration work at Bakers Gold project

The company is looking for a joint venture partner on the project or to sell it outright. It commissioned some exploration work to better define what prospective buyers are likely to find at the Baker's Gold project in Western Australia

Gold veins
To date only two drill holes have tested the pit area and both intersected very wide intervals of low-grade gold mineralisation

Sunrise Resources Plc (LON:SRES) said recent exploration work at its Baker's Gold Project in Western Australia had enhanced the marketability of the asset.

The company paid for mapping and sampling within the Dicky Lee open pit at the up-for-sale Baker's Gold Project and to conduct infill soil sampling within the nearby DRL4 gold-in-soil anomaly.

READ Sunrise Resources eyes big pozzolan resource in Nevada​

Mapping and chip sampling of gold-bearing quartz-stockwork veins in the Dicky Lee open pit saw gold (Au) values of up to 32.1 grams per tonne (g/t), averaging 1.7 g/t.

Individual veins are generally narrow and so grades being reported cannot be considered representative of the deposit as a whole and no attempt was made to systematically evaluate the grade of the hydrothermally altered host dolerite although the few samples taken assayed up to 1.4 g/t Au, Sunrise advised.

Infill soil sampling at the DRL4 target, which lies some 750 metres (m) south-west of the Dicky Lee pit, confirmed a 500 metres-long gold-in-soil anomaly while increasing the tenor and enhancing the definition of drill target.

The target was drilled back in 1987 with the hole averaging 0.55 g/t Au over the 22m interval from 2m down-hole depth to the end of hole at 24m and the final 2m sample assayed 1.17 g/t Au.

“These new and positive exploration results were generated at low cost and enhance the value and marketability of the Baker's Gold project as we continue our divestment programme of non-core assets and focus on the development our CS Pozzolan-Perlite Project in Nevada, USA," said Patrick Cheetham, the executive chairman of Sunrise.

Quick facts: Sunrise Resources PLC

Price: 0.115 GBX

Market: AIM
Market Cap: £3.58 m

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on 1/8/19

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