Sunrise Diamonds PLC
30 March 2006
www.sunrisediamonds.com
30 March 2006
SUNRISE DISCOVERS NEW 'LAMPI' KIMBERLITE AT KUUSAMO
• Seventh Find Continues Company's 'Exceptional' Discovery Rate
• Lampi Located More Than 10km From Company's Earlier Finds
• Current Programme Continues To Test Other Kuusamo Targets
Sunrise Diamonds plc ('Sunrise' or 'the Company') is pleased to announce that a
new kimberlite has been intersected at the first of several targets scheduled
for drill testing in the current drilling campaign in the Kuusamo kimberlite
cluster in Finland. This new discovery is more than 10km away from the nearest
of the Company's previous discoveries and has been named the 'Lampi' kimberlite
('Lampi' is Finnish for 'small lake'). The kimberlite will now be sampled for
diamond indicator minerals and micro-diamonds.
The Lampi magnetic anomaly was targeted last year but the Company was unable to
complete definition work due to access restrictions over water in the summer and
two drill holes in the Company's last drilling campaign failed to explain the
anomaly.
The target was included in the recently completed winter ground geophysical
programme and modelling of the anomaly indicated the source to be complex in
shape. Although the first follow up hole in the current campaign also failed to
explain the anomaly, the second (vertical) hole, which collared in kimberlite
beneath 15m of overburden, remained in kimberlite to the bottom of the hole at
55m depth.
This success is made more noteworthy by the fact that open-file exploration
records show that De Beers drilled two holes targeting the Lampi magnetic
anomaly in the 1990's but failed to discover the kimberlite.
Commenting today, Sunrise Chairman, Mr Patrick Cheetham, said: 'This latest
discovery is particularly pleasing as our persistence has paid off. We have
tested only nine targets in the Kuusamo area to date and have found seven
kimberlites, three of which have so far been shown to contain micro-diamonds.
This discovery rate is quite exceptional.'
The current drilling programme will continue to test other targets in the
Kuusamo area including new ones in the Anomaly 45-47 kimberlite area.
Further Info: Patrick Cheetham, Sunrise Diamonds plc. Tel: +44 (0)1625-505947.
Mob: +44 (0)7767-458751
John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518
The information in this release has been compiled and reviewed by Mr. Patrick
Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM
Guidance Note for Mining Oil & Gas Companies issued on March 16, 2006. Mr
Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a
member of the Australasian Institute of Mining & Metallurgy.
This information is provided by RNS
The company news service from the London Stock Exchange