Business
Long Lake Project, Canada - U
Long Lake Project, Canada - U.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n RNS Number : 0687O Sunrise Resources Plc 23 June 2010 \n \n\n \n \n \n \nwww.sunriseresourcesplc.com \n23 June 2010\n \nPROJECT UPDATE \nLONG LAKE GOLD PROJECT, SUDBURY, CANADA\n \n___________________________________________________________________________\n \nSunrise Resources plc (\"Sunrise\" or \"the Company\") is pleased to announce that it has acquired additional exploration data for its recently acquired Long Lake gold project in Canada and completed an initial field evaluation of selected targets for Copper-Nickel-Platinum Group Metal (Ni-Cu-PGM) mineralisation.\n \nThe privately held data relates to gold exploration carried out by Dupont Exploration in 1981-82 and Pronto Exploration during 1987-88 before the land became open to staking. It includes the detailed results of mapping, sampling and drilling around the site of the abandoned Long Lake gold mine and in an unworked area 350m south of the mine drilling results where highlights of the drilling include gold mineralised intersections of 5.7m grading 30g/t gold in 1973 with follow up results of 4.1m grading 12g/t gold in 1987. The newly acquired data will be incorporated into the drill planning programme currently underway.\n \nThe consideration for the acquisition was a cash payment of Canadian $2,000 and the issue of 600,000 three year share warrants each exercisable at a price of 0.75p per share.\n \nSeparately, the Company has commenced field evaluation of a number of high priority targets for Copper-Nickel-PGM within the claim block - including Anomaly 19, an untested high-priority electromagnetic anomaly identified during a 2008 airborne survey. Electromagnetic anomalies are targeted for conductive metal sulphide mineralisation.\n \nThe field evaluation of Anomal...