23rd Sep 2014 09:42
LONDON (Alliance News) - Sunrise Resources PLC Tuesday said soil sampling at its Corona gold project is now underway and that soil sampling at the Bakers gold project is due to start within a fortnight.
The company said soil sampling at the Corona project has commenced, with around 525 samples being collected from a 200 metre by 200 metre offset grid. It expects results from the sampling to be available in around six weeks.
Sunrise said the soil sampling process at the Bakers project is expected to start in two weeks, with around 575 samples to be collected from a 200 metre by 100 metre offset grid, along with sampling from a 100 metre by 50 metre section focusing on areas of high interest. The results from this are expected in around 8 weeks, Sunrise said.
The company also said Tuesday that an application has been made for a prospecting licence adjoining the west side of the Bakers project which will target gold-bearing quartz-stockwork at the Dickey Lee Gold Mine.
"The main objective of our soil sampling programmes is to add targets to those already set for testing in the first drill programmes which we hope to carry out later this year," said Sunrise Executive Chairman Patrick Cheetham.
"We will look to fast track the grant of the Dickey Lee licence application by including it in the existing Aboriginal Heritage Agreement as this also presents a drill-ready target," Cheetham added.
Sunrise shares were trading 6% lower at 0.3525 pence per share on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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