Monday, December 22, 2014

Sunrise Resources says Target 5 float is diamondiferous

Tuesday, March 26th, 2013

Sunrise Resources (LON:SRES) has had a positive result from its latest sampling exercise at its wholly owned Cue diamond project in Western Australia.

The results from a 46 kilogram (kg) sample collected from the target five kimberlite float in early February 2013 returned what the company termed a “high” microdiamond count of 1.27 per kg.

The company added 71% of the microdiamonds are white or colourless and 98% are transparent.

The stone size distribution shows potential for the company to discover larger size stones in bigger samples.

“This is a positive result for the project. The Target 5 kimberlite float is confirmed as diamondiferous; the stone count (stones/kg) is the highest seen so far, and whilst the small size of this first sample does not provide enough stones for a meaningful statistical evaluation of diamond grade, initial modelling suggests that the grade is higher than that of the recent drill samples from the Cue 1 kimberlite and that larger stones could be found,” revealed Patrick Cheetham, Sunrise’s executive chairman.

“The surface float at Target 5 is much more extensively developed than that associated with the Cue 1 and Soapy Bore kimberlites suggesting potential for a larger source kimberlite,” he added

Follow up work is now being planned to locate the bedrock source which is thought by the company to be very local, if not beneath the sampled area.

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