Business
Cue Diamond Project Exploration Licence Granted
Cue Diamond Project Exploration Licence Granted.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7511B Sunrise Resources Plc 24 February 2011 \n \n\n \n \n 24 February 2011\n \nCUE DIAMOND PROJECT \nEXPLORATION LICENCE GRANTED\n \nSunrise Resources plc (\"Sunrise\" or \"the Company\"), the AIM-quoted diversified mineral exploration and development specialist, is pleased to announce that its exploration licence application for the Cue Diamond Project, in Western Australia, has now been granted.\n \nHIGHLIGHTS:\n \nØ Exploration Licence 20/727 granted for an initial 5 year period.\n \nØ Covers diamondiferous kimberlite dykes at Cue 1 and Soapy Well Prospects.\n \nØ Three parallel kimberlite dykes at Soapy Well, up to 3m wide.\n \nØ Multiple kimberlite targets at Fennels Well 2.5km along strike from Soapy Well.\n \nThe successful exploration licence application (ELA20/727) covers an area of approximately 70 square km and is located 70km to the north-west of the town of Cue in the Murchison Mineral Field in the Yilgarn Craton, Western Australia.\n \nThe Company will now initiate the usual Aboriginal heritage surveys and further drilling is being planned for the second quarter of the year, subject to the successful completion of the heritage surveys and drill rig availability. The objectives of the first drill programme will be to obtain samples from the known kimberlites, to evaluate their diamond content/characteristics, and to test kimberlite targets at Fennels Well and Soapy Well.\n \nPatrick Cheetham, Executive Chairman of the Company, commented today: \"De Beers found diamondiferous kimberlites in two separate areas on the licence and considered that the area had excellent potential for further discoveries. A number of targets were defined by De Beers before their strategic decision to ce...