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Sunrise Resources shares rise as new analysis upgrades Baker’s gold results

Executive chairman Patrick Cheetham described it as a pleasing result.

Sunrise Resources PLC - Sunrise Resources shares rise as new analysis upgrades Baker’s gold results

Sunrise Resources PLC (AIM:SRES, FRA:S4D) shares advanced on Monday as the Baker's gold project in Western Australia returned high-grade results.

The company, in a statement, told investors that a routine re-analysis of high-grade samples returned better results than before.

As example, Sunrise noted that in the new analysis drill hole 21SBRC002 on the DLR4 Target the results showed 14.4 grams per tonne gold across 2 metres, from 64 metres downhole, including 1 metre at 26.5 g/t – this compares with the prior analysis which showed 11.5 g/t and 20.4g/t over the 2 metres at the same depth.

“This is a pleasing result as the prime objective in conducting the re-analysis was to make sure the original analysis did not over-report the gold content due to the potential for the nugget effect,” said executive chairman Patrick Cheetham. “The higher values being reported today are considered to be a more accurate measure of the gold grade due to the larger sample size."

The latest result come from the analysis of 1 kilogram bulk cyanide leach and leach tail fire assay, whereas the prior results were the product of 50g fire assay.

Sunrise noted in Monday’s statement that 95% of the contained gold is cyanide leachable.

In London, Sunrise shares rose by 12.4% on Monday to change hands at 0.28p.

Quick facts: Sunrise Resources PLC

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Price: 0.255 GBX

Market Cap: £9.44 m

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