Sunrise Resources Plc Update - Junction Project
November 20 2017 - 2:01AM
RNS Non-Regulatory
TIDMSRES
Sunrise Resources Plc
20 November 2017
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
20 November 2017
Update - Junction Project
Sunrise Resources plc ("Sunrise" or "the Company"), the
AIM-traded company focusing on the development of its CS
Pozzolan-Perlite Project in Nevada, USA, is pleased to provide the
following update on activities at the Junction Project in Nevada
where the Company has ongoing interests.
VR Resources Ltd ("VR"), the registered owner of the property,
has announced that:
-- Mapping, prospecting and soil sampling are nearly complete.
-- Copper sulphide mineralisation related to pegmatites and
quartz veins is evident at surface in numerous showings along a
strike length of nearly 1,600 m.
-- It anticipates completion of a high resolution airborne
magnetic/electromagnetic survey in 2018, in order to test
along-strike sub-surface continuity of the outcropping
mineralisation, and in preparation for a first pass diamond drill
program.
As a result of the sale of the Junction Project, Sunrise is a
shareholder in VR and, subject to certain exploration milestones
being met, will be issued with further VR shares and receive a cash
royalty on any future production. A copy of the announcement
containing full details of the Junction sale transaction can be
seen at:
https://www.sunriseresourcesplc.com/downloads/sunrise-resources-plc-rns-sale-of-junction-gold-copper-project-30-august-2017.pdf
A copy of VR's corporate update containing details of the
Junction Project can be seen at:
https://vrr.ca/investor/files/vrr-nr-20171116.pdf
Commenting today, Executive Chairman Patrick Cheetham said: "The
Junction Project transaction was the first of what we hope to be a
series of transactions to valorise our mineral project portfolio
following our decision earlier this year to focus on the
development of the CS project in Nevada. We are pleased that VR
Resources has moved so quickly to initiate exploration of the
Junction Property and we look forward to any benefits this may
bring to Sunrise in future."
Further information
Sunrise Resources plc
Patrick Cheetham, Executive
Chairman Tel: +44 (0)1625 838 884
Notes:
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward-looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely unduly on any forward-looking statements and save
as required by the AIM Rules for Companies or by law, the Company
does not accept any obligation to disseminate any updates or
revisions to such forward-looking statements. This announcement
contains inside information.
Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAOKODPABDDFDD
(END) Dow Jones Newswires
November 20, 2017 02:01 ET (07:01 GMT)
Sunrise Diamonds (LSE:SDS)
Historical Stock Chart
From Apr 2024 to May 2024
Sunrise Diamonds (LSE:SDS)
Historical Stock Chart
From May 2023 to May 2024