Sunrise Resources starts drilling Eldorado 2013-04-22 08:41 ET - News Release Mr. Irvin Eisler reports DRILLING COMMENCES ON ELDORADO PROPERTY NEAR RED CHRIS DEPOSIT Sunrise Resources Ltd. has commenced a 1,500-metre diamond drilling program on the company's Eldorado property. The property covers the Eldorado and bonanza Minfile copper-gold showings located approximately 10 kilometres along strike to the northeast of Imperial Metals' Red Chris copper-gold deposit, which is in the mine construction phase. The current drill program will consist of a minimum of 1,500 metres in three to five holes and will provide a broad, first-past test of the deep chargeability anomaly identified in the fall of 2012. This program is being carried out by the optionee of the property, Colorado Resources Ltd., which was granted an option in 2012 to acquire up to a 75-per-cent interest in the property. In consultation with Sunrise, Colorado recognized that previous exploration had only tested the Eldorado property to a shallow chargeability anomaly with two discrete shallow zones in the north-central portion that were the focus of 1980s drilling, but, more importantly, show a 500-metre-by-2,000-metre strong chargeability anomaly in the south that was not detected by previous surveys and has never been tested. Sunrise and Colorado are encouraged by the fact that there is a sizable 500-metre-by-2,000-metre untested induced-polarization anomaly located in a broad valley under cover in a similar geological setting in such close proximity to Imperial Metals' Red Chris deposit. The geophysical anomaly is similar in size, shape and strength to geophysical anomalies with associated mineralized bodies at both NGEx's GJ property and Imperial Metals' Red Chris property. Highly anomalous copper and gold in soils located by previous work near the only outcrop on the property on the periphery of this geophysical anomaly also indicate that this sulphide system has the potential to carry anomalous copper and gold values. Irvin Eisler, chief executive officer of Sunrise, said: "We are delighted that Colorado's professional team has moved so quickly to conduct the IP survey and now commence drilling. Colorado has excellent management and is well financed." |