Shares in Sunrise Resources (LON:SRES) shot up 35% this in early trade after receiving positive metallurgical testwork results from its 100%-owned Derryginagh barite mine in Ireland.
The results for samples collected from within the old workings confirmed that saleable barite concentrate can be produced by low cost gravity processing, while geophysical exploration indicated significant additional strike potential well beyond the limits of the existing mine workings.
Colour testing of the concentrates was also “very positive” with samples exceeding the colour specifications for high value off-white filler grades and approaching those of the highest value pure-white filler grades.
“We are very pleased with the quality of barite produced so far in testwork, especially considering the lower grade of the feed material and given that process optimisation has yet to be carried out.
“The geophysical results are also very encouraging and require immediate follow up,” said chairman Patrick Cheetham.
Results have also been received from a programme of micro-gravity surveying which was designed to test for possible strike extensions of the Derryginagh vein system.
The programme indicated that the vein may extend over a strike length of at least 750 metres, and also indicated a parallel vein.
Sunrise will now carry out infill gravity surveying to define sites for trenching and/or drilling and a concept study will be initiated to define the parameters for an economic mining operation.