25 May 2012

Sunrise high grade

06/02/2012 Ben Jaglom

AIM-quoted barite explorer Sunrise Resources (SRES) has reported high-grade results from its drilling programme in South-West Ireland.

Sunrise announced results from the analysis of the drill core from its project at Derryginagh in South-West Ireland had shown there were 'high-grade vein intersections' below historical workings. The company's drilling programme was comprised of six holes of varying thicknesses.

The group notes that mineralisation 'remains open at depth and along strike' with further feasibility studies being planned. Chairman Patrick Cheetham remarked the latest results 'confirm that high-grade extensions' to the Derrybinagh system exist 'well below' the old mine workings adding that further feasibility studies are as a result 'justified'.

Operating at the small end of AIM miners, shares in Sunrise currently trade at 1.68p, valuing the company at £5.24 million.

Tags: Commodities in Ireland, Drilling in Ireland, Mining updates

Sector: Mining

Companies: Sunrise Resources

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