SUNRISE RESOURCES PLC


                                                 

 

                   Market Cap - £3.4m :    Shares in Issue - 312m :      Epic - SRES :       Market - AIM

 

Sunrise have a significant opportunity on its Barite resource in southern Ireland, where global supply is tightening due to chinese and indian export restriction sunrise could become a major player in the european barite market. Sunrise resources also have an interesting stake in two diamond projects and also a gold project in canada with scope for additional resources of copper / nickel / platinum.

       

Sunrise Resources plc (‘SRES’) is a British-led diversified mineral exploration and development specialist. The Company's objective is to develop profitable mining operations to sustain the Company’s wider exploration efforts and create value for shareholders through the discovery of world-class deposits.The Company is evaluating a product opportunity for white barite in south-west Ireland and has an exploration portfolio including gold and base-metal exploration interests in Canada and diamond exploration interests in Finland and Western Australia.

 

DERRYGINAGH BARITE PROJECT,  IRELAND #


The Company is targeting the Derryginagh barite deposit for the production of high value white "paint-grade" barite for use as mineral filler in paints and plastics. White paint-grade barite is the highest-value use for barite having significant sales volumes. Off-white barite is used as a lower value mineral filler and high volumes of low- grade barite are used as a weighting agent in drilling mud in the oil and gas industry.

The Derryginagh mine was worked in the period 1864-1922, supplying white barite to the local paint industry. The mine workings extend over a strike length of 200m and to a maximum depth of 60m. In the 1970s the mine workings were de-watered and mapped by a local company and in the 1980s four holes were drilled to intersect the barite vein at 100 meters below surface by Dresser Minerals International Inc., which was then a major supplier of drilling mud grade barite around the world. Recent drilling by Sunrise has produced extremely encouraging results and has proven major high grade extensions to the resource are present, both at depth and along strike extending way beyond the old workings and 1980,s appraisal drilling.

In May this year, a positive concept study was completed which suggested that…

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