- Sunrise Energy Metals (SRL) has received bonanza-grade assay results from its first drill hole in the Platinum Zone of the Sunrise Project in NSW
- The first hole of a planned six-hole diamond core drill program returned high-grade intersections of platinum and other platinum group elements
- Best results include 0.6 metres from 255.9 metres at 129g/t platinum, 1.23g/t palladium and 1.79g/t rhodium
- Drilling results also confirmed additional high-grade platinum areas from historic downhole intersections, with further drilling planned to follow up additional targets within the Phoenix Platinum Zone
- Sunrise Energy Metals shares are down 4.72 per cent, trading at $2.22
Assays from the first drill hole at Sunrise Energy Metals’ (SRL) Phoenix Platinum Zone at the Sunrise Project in NSW have returned high-grade intersections.
The first hole of a planned six-hole diamond core drill program returned an unexpectedly high-grade intersection across 0.6 metres from 255.9 metres at 129 g/t platinum, 1.23 g/t palladium, 1.79g/t rhodium, 4.00g/t iridium, 0.89g/t osmium and 0.28g/t ruthenium.
The drill program intersected structures up to 390 metres below surface, with chromite sequences appearing between 125 metres and 260 metres downhole, coincident with the platinum mineralisation.
The dunitic host structure’s extent was found to be many kilometres long and is considered to be the source of much of the near-surface platinum mineralisation in the Sunrise laterite.
On top of testing the deeper areas below 200 metres, the initial hole was targeting an area of high-grade platinum mineralisation around 110 metres below surface, which was previously identified in historical drilling.
“Although it’s still early days for this new and exciting development, this stunningly high-grade platinum intercept is highly encouraging in terms of the potential for what may lie below this amazing Sunrise ore body,” said Sunrise Energy Metals Co-Chairman Robert Friedland.
“We will be following up this initial success with great enthusiasm.”
Further drilling has now been planned to follow up additional targets within the potentially significant Phoenix Platinum Zone.
Sunrise Energy Metals shares are down 4.72 per cent, trading at $2.22 at 10:00 am AEST.