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Sunrise Resources reports 'significant' silver grades from maiden drill hole at Clayton Silver-Gold Project in Nevada
StockMarketWire.com
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Mineral sands producer Sunrise Resources has confirmed the presence of 'significant silver mineralisation' at its Clayton Silver-Gold Project in Nevada, USA.
The company advised that assay and analytical results have been received for drill core from its maiden drill hole, 20CLDD001 at the project.
It recovered core from a 7.92m mineralised interval graded 303 g/t (8.84 ounces/ton) silver and 0.2 g/t gold, including 4.27m interval grading 408 g/t (11.89 ounces/ton) silver and 0.23 g/t gold from a depth of 83.82m.
It found an 84% higher silver grade in hole 20CLDD001 compared to twinned 1980s-hole CL-15, which reported 7.62m grading 165 g/t silver (4.8 ounces/ton) and 0.4 g/t gold.
Executive chairman Patrick Cheetham said: 'This is a great result. The higher grades now being reported vindicate our belief that silver grades were under-reported in the 1980s reverse circulation drill holes due to the loss of fine-grained silver minerals in the drill circulation water.
'Whilst our own samples were affected by poor core recovery, the results now being reported, when taken together with the historical results, confirm the presence of significant silver mineralisation in an area with several active mines and extensive current and historic exploration. This intersection warrants further intensive exploration.'
Cheetham added that the company will consider the possibility of finding a joint venture partner to continue its exploration.
At 2:30pm: (LON:SRES) Sunrise Resources PLC share price was 0p at 0.26p
Story provided by StockMarketWire.com
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