15th Aug 2014 07:25
LONDON (Alliance News) - Sunrise Resources PLC Friday said it has got further positive results from the County Line Diatomite Project in Nevada, US, saying the results support a large tonnage potential at the site, sending its shares higher in early trade.
Sunrise said testing showed consistency across all of the samples collected, comparable to those previously reported by the company in May, and said drilling or trenching and further minerals processing at the site is now justified.
In May, the company said the County Line project had shown positive results from an initial independent assessment of diatomite samples, saying the results showed promise for commercial products.
The news saw shares in Sunrise rise in opening trade on Friday, up 6.4% to 0.399 pence and sitting among the top five risers on the AIM All-Share index. Sunrise had seen its shares fall as much as 20% on Tuesday this week after it said diamond size distribution from its Soapy Bore kimberlite site at the Cue Diamond Project in Western Australia were less favourable than the Target 5 samples.
By Sam Unsted; [email protected]; @SamUAtAlliance
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