17th Feb 2014 10:33
LONDON (Alliance News) - Sunrise Resources PLC saw its shares rise Monday after the firm announced the latest expansion of its project portfolio with the acquisition of two groups of mineral claims in Nevada, USA targeting copper, gold and industrial minerals.
The AIM-listed diversified mineral exploration development company said it has incorporated a new subsidiary in Nevada, US - SR Minerals Inc. Within the business two new projects have been generated, following research and reconnaissance, said the firm.
The County Line Diatomite Project includes 61 claims staked over a large area of diatomite - a specialist industrial material - after the evaluation of initial grab samples showing the potential for high quality deposits, said the firm. Sunrise is currently collecting two larger samples for testwork.
The Strike Copper-Gold Prospect has six claims acquired over it, and is targeting copper-gold skarn deposit, said the firm. So far, 30m grading 0.98% copper has been reported in a single drill hole from the surface, said Sunrise.
Executive Chairman Patrick Cheetham said, "The announcement being made today marks the start of a project acquisition programme in Nevada which has been several months in the making. Nevada is one of the world's major mining regions and has a rich endowment of precious metals, base metals and industrial minerals. Most importantly, the mining law allows for very rapid progression of exploration as work can be carried out immediately claims are staked and registered. It is a very attractive exploration and mining jurisdiction with limited sovereign risk."
Shares in Sunrise Resources have steadily climbed during morning trading, up 12.73% at 0.62 pence per share Monday, one of the biggest gainers on AIM.
By Alice Attwood; [email protected]; @AliceAtAlliance
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