Sunrise Resources plc has agreed a purchase option over a mining claim and staked a further 10 mining claims to form a new copper-silver-gold project in Nevada, USA.
CALIBRE
The “low entry-cost” lease and option along with the adjacent claims, together named Lake, are located in the Lake mining district in Churchill County, Nevada, USA.
The acquisition reflects the company’s recently announced strategy to focus on base and precious metals.
Utah International discovered the acreage in 1985 and found copper-silver mineralisation from surface.
Utah’s drilling intersects included 50 metres from surface grading 0.73% copper, 31 grammes per tonne silver and 0.2g/t gold in skarn-type mineralisation.
Sunrise’s recent surface sampling showed up to 198 grammes per tonne silver (6.4oz/t) 0.13% copper and 0.3g/t gold in sulphide rich sample.
The company noted that Lake is at the southwest end of the Humboldt Range which hosts “numerous large-scale current, planned and past producing gold and silver deposits.”
“Mineralisation occurs with a 450m long arsenic and antimony anomaly coincident with mineralised area within a regional low-level gold-in-rock anomaly that extends 1.5 km through the claim block,” said Sunrise.
The company aims to target an intrusion-related copper-precious metals deposit.
Executive chairman Patrick Cheetham added: “With historical drill intersections of economically significant grades, the target is well-defined with a number of drill holes intersecting thick zones of skarn mineralisation from surface, a style of mineralisation that can host significant copper, silver and gold deposits and which, importantly, can also provide a vector to porphyry copper deposits.
“Projects of this calibre are hard to come by and the acquisition results from a long-standing programme of archival research and field reconnaissance.
“The path forward for this project is clear with the next steps already defined to include geophysical surveying and follow up drilling as resources allow.”