Sunrise Resources PLC (LON:SRES) told investors it has completed the planned drill hole at its Clayton silver-gold Project in Nevada, United States.
The hole passed through the target zone before being terminated at a depth of 104.7 metres.
It was designed to twin and deepen a historic drill hole CL-15 – which measures 7.6 metres with a silver grade of 165 grams per tonne and 0.4 g/t gold – and drill core samples have been sent for assay and analysis.
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“We look forward to receiving the assay results and will advise on the next steps for its Clayton Project once the results have been evaluated,” said Patrick Cheetham, Sunrise executive chairman.
The samples for sent to a facility in Reno, Nevada. Results are not expected for several weeks due to backlogs at all major analytical laboratories in Nevada, due to the current high-level of exploration activity.
Sunrise noted that drilling conditions were extremely difficult, and progress was slow because of heavy faulting and extensive zones of swelling clays in fractured and hydrothermally altered rock.
The company added that such conditions can be favourable indications for mineralisation, but it also noted that core recovery was very poor as a result.