Sunrise Resources PLC - Cheshire, England-based company focused on industrial mineral projects in Nevada - Notes yesterday’s announcement by Guardian Metal Resources PLC of results from the ground magnetic and high-resolution induced polarisation survey at the Pilot Mountain and Garfield projects in Nevada on which Sunrise owns a 2% net smelter return royalty. GMR reports at Pilot Mountain a significant magnetic anomaly has been delineated at the Porphyry West target. The ground magnetic survey grid was extended east of Porphyry South, it adds. At Garfield, three dimensional inversion modelling of magnetic data highlights two large deep seated intrusive/magnetic bodies at the high-grade and power line zones. Adds that GMR is finalising drillhole locations and will afterward submit a permit application to the local Bureau of Land Management.

Chair Patrick Cheetham says: ‘We are delighted to see GMR advancing the Garfield Project with drilling now planned and fully funded. Our 2% royalty interest is a cost-free, risk-free and free-carried interest, and could be of substantial value if GMR’s drilling is successful.’

Sunrise Resources current share price: 0.05 pence

12-month change: down 50%

Guardian Metal Resources current share price: 35.00 pence

12-month change: up 312%

Copyright 2024 Alliance News Ltd. All Rights Reserved.