2013-08-26 14:11:27 -
August 26, 2013 /FSC/ - Sunrise Resources Ltd. (SHI - TSX Venture), ("Sunrise" or the "Company") is very pleased to report the results of the first two holes completed on its 100% owned Man-Prime property located approximately 30 km north of Princeton, B.C. These results including 123 m of 0.25% copper and 0.085 g/t gold at the bottom of one hole with the very bottom 24 m averaging 0.34% copper and 0.066 g/t gold. See further details below.
The property is underlain by Triassic age Nicola Volcanic rocks of the Quesnel Trough intruded by Jurassic age diorite / monzonite / syenite intrusions. The geological setting is similar to that of the Copper Mountain deposit located some 45 km to the
The Company undertook a re-evaluation of all data covering the Man-Prime property and, as a result, selected an area in the northern portion of the claims as having the potential for possible deep mineralization. Earlier diamond drilling completed in the late 1960's returned a number of diamond drill intersections averaging 0.2% - 0.5% copper from shallow drill holes, mostly ending around 30 - 50 m depth. The presence of a large, strong and complex IP anomaly with dimensions of approximately 1200 m x 1500 m coupled with highly anomalous copper values in rock samples on surface added to the attractiveness of the area. An overall structural fabric in the immediate area was interpreted as possibly trending 330o with a steep NE dip.
Drill hole PR13-01 was targeted at attempting to confirm an earlier diamond drill hole (67-7) that reported 0.55% copper over the total hole depth of approximately 44 m. The hole was spotted in a best approximation of the earlier drill hole location and was drilled on an azimuth of 180o and a dip of -70o to twin the earlier hole. While the hole encountered very encouraging fracturing, alteration and weak mineralization in the upper portion of the hole, it became apparent that the deeper the hole advanced, the better the mineralization / alteration became. The hole encountered very fractured, faulted and broken rock, and was finally terminated at 468.6 m when further drill advance became impossible with the existing drill rig. This was unfortunate, as the final 0.7 m encountered in the hole (after drilling in andesite / diorite for the complete hole), consisted of a highly K feldspar altered monzonite assaying 0.43% copper and 0.104 g/t gold. The entire length of PR13-01 from 7.7 m to 468.6 m averaged 460.9 m of 0.10% copper and 0.043 g/t gold. The deepest section of the hole from 345.0 m - 468.6 m averaged 123.6 m of 0.25% copper and 0.085 g/t gold with the bottom 24.6 m averaging 0.34% copper and 0.066 g/t gold.
After analyzing the drill log from the first hole, it was interpreted that a deep, well mineralized structure could exist, trending in a northwest direction.
Drill hole PR13-02 was drilled from the same location as PR13-01 at an azimuth of 240o and a dip of -50o. A plot of the proposed extension of the deep intersection from the newly revealed deep mineralization in hole PR13-01 targeted a horizontal spread of approximately 140 m at a somewhat similar depth below surface. Once again, the hole encountered extremely fractured, faulted and broken ground with sections of poor core recovery. The hole was drilled in a similar andesite / diorite (dioritized andesite) as hole PR13-01 until 400 m when it intersected a weakly mineralized monzodiorite to 480 m. Subsequent andesite / diorite became better mineralized as the hole progressed with additional monzodiorite sections. The final 83 m was in andesite / diorite. The presence of disseminated bornite became evident from approximately 400 m in the hole and continued to the end at 821.3 m. The entire length of PR13-02 from 14.0 m to 821.3 m averaged 807.3 m of 0.08% copper and 0.016 g/t gold. Included within this interval are 621.0 - 645.0 m (24.0 m) averaging 0.25% copper and 0.042 g/t gold and 668.3 - 821.3 m (153.0 m) averaging 0.21% copper and 0.045 g/t gold. This last interval includes 735.0 - 756.0 (21.0 m) averaging 0.24 % copper and 0.045 g/t gold, and 786.0 - 798.0 (12.0 m) averaging 0.33% copper and 0.073 g/t gold.
Sunrise has not collected enough structural information to determine how the down hole drill intervals might relate to the actual true thickness of the mineralization encountered.
FROM TO INTERVAL GRADE
metres metres metres Cu % Au g/t
7.7 468.6 460.9 0.100 0.043
incl 345.0 468.6 123.6 0.250 0.085
incl 444.0 468.6 24.6 0.343 0.066
FROM TO INTERVAL GRADE
metres metres metres Cu % Au g/t
72.0 96.0 24.0 0.132 0.009
111.0 120.0 9.0 0.105 0.037
132.0 138.0 6.0 0.210 0.021
200.3 201.0 0.7 0.642 1.830
249.0 258.0 9.0 0.283 0.092
426.0 462.0 36.0 0.076 0.026
504.0 516.0 12.0 0.109 0.017
531.0 549.0 18.0 0.127 0.015
561.0 645.0 84.0 0.165 0.027
incl 621.0 645.0 24.0 0.254 0.042
668.3 821.3 153.0 0.206 0.045
incl 735.0 756.0 21.0 0.235 0.045
incl 786.0 798.0 12.0 0.328 0.073
14.0 821.3 807.3 0.075 0.016
The samples were analyzed by Actlabs in Kamloops, B.C. Copper values were first determined by ICP methods using Actlabs 1E3 procedure which reports values in ppm. Subsequent to the receipt of the ICP data, all samples with copper values > 1000 ppm were analysed by Actlabs assay procedure 8-AR with values reported as % copper. Gold results were determined using Actlabs fire assay procedure 1A2-50 with results reported in ppb / g/t gold.
Sunrise is very encouraged by the consistent mineralization encountered at depth over significant intervals as well as the presence of bornite in recordable amounts in hole PR13-02. The indications of a well mineralized monzonite intrusive at the bottom of hole PR13-01 plus a similar well mineralized monzonite in hole PR13-02, 250 m to the west, lends size potential to this newly discovered mineralization. The mineralized structure remains open in all directions and most importantly, to depth. Drilling is presently focused on the eastern moderate IP flank of a 1200 m x 1500 m anomaly.
According to Irvin Eisler, Chief Executive Officer and President of Sunrise: "These initial two holes remind me how exciting exploration can be. I am very pleased with the results and I look forward to drilling further holes on this highly prospective property."
Mr. J.W. Murton P. Eng. is the qualified person who is responsible for the technical information contained in this News Release. Mr. Murton is a Director of Sunrise.
For further information, please contact:
Responsible Officer: Irvin Eisler, CEO and President
Telephone: (250) 546-6559
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to size potential, that a deep, well mineralized structure could exist, trending in a northwest direction, that drilling is focused on the eastern moderate IP flank of a 1200 m x 1500 m anomaly, and that the property is highly prospective. Important factors that could cause actual results to differ materially from the Company's expectations are management's discretion to adjust the exploration plans for its properties as well as the need for ongoing financing.
The Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
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Source: Sunrise Resources Ltd. (TSX.V-SHI)
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