RCS - Sunrise Resources - Garfield Royalty Interest

Sunrise ResourcesAnnouncement

03/06/2025 14:15

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RNS Number : 2616L  Sunrise Resources Plc  03 June 2025

 

3 June 2025

 

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

 

Garfield Royalty Interest

 

Sunrise Resources plc notes the announcement made earlier today by Guardian
Metal Resources plc (LON:GMET, OTCQX: GMTLF) ("GMR") in connection with its
Garfield Copper Project in the Walker Lane Mineral Belt, Nevada, USA, where
Sunrise holds a 2% Net Smelter Return ("NSR") Royalty.

Under the heading "Garfield Project - Exploration Update, Very High-Grade
Gold-Silver-Copper Assay Results" GMR has announced multiple gold, silver and
copper-bearing samples containing up to 61g/t gold from the Freeze and Pamlico
targets which lie immediately SE and adjacent to the Company's Garfield
Royalty Area. The newly reported high-grade samples are from epithermal veins
that are consistently oriented along WNW-ESE trending structures.

In the nearby "High-Grade Zone", around half of which is within the Garfield
Royalty Area, previously reported copper-magnetite-skarn mineralisation is
focused at the margins of a granitic intrusion. Follow up work reported by GMR
today at the High-Grade Zone has observed structures, veins and, notably,
hydrothermal breccias having the same WNW orientation, directly along strike
from the Freeze Zone.  Maps released by GMR today show gold values up 27.2g/t
from the High-Grade Zone within the Sunrise Garfield Royalty Area.

GMR is now investigating whether epithermal-style precious metal
mineralisation has overprinted the broader Cu-skarn mineralisation at both the
High-Grade Zone and, to the NW, the Power Line Zone (which lies wholly within
the Garfield Royalty Area) along a 6km long trend extending ESE to the Freeze
Zone.

Commenting today, Executive Chairman Patrick Cheetham said:

"The original discovery of gold-copper-silver at surface at Garfield was made
by Sunrise prior to selling the project mining claims. Sunrise has retained a
2% NSR royalty over the original claim area and a 1-mile surrounding area.

"NSR royalty interests such as this are risk free as they are payable from
future revenue and not exposed to profitability. Furthermore, they are free
carried and so, as holder, we are not required to contribute to exploration or
mine development costs. Royalty interests also have a ready market amongst
numerous specialist royalty holding companies. The Garfield royalty is just
one of a number of royalty interests held by the Company and built into our
agreements with other parties."

 

 

Further information:

 

 Sunrise Resources plc                  Tel: +44 (0)1625 838 884

 Patrick Cheetham, Executive Chairman
                                        Tel: +44 (0)207 628 3396

 Beaumont Cornish Limited

 Nominated Adviser

 James Biddle/Roland Cornish
                                        Tel: +44 (0)207 469 0930

 Peterhouse Capital Limited

 Broker

 Lucy Williams/Duncan Vasey

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Shares in the Company trade on AIM.

EPIC: "SRES". Website: www.sunriseresourcesplc.com
(http://www.sunriseresourcesplc.com)

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