Sunrise shares fell 20% to
The group said that all kimberlite samples from the
But it conceded the size distribution of the recovered diamonds was lower than the float samples from the high priority Target 5, though it said further evaluation will be required, in particular on the impact of stone breakage at Soapy Bore.
Sunrise said the kimberlite from Soapy Bore is silicified, meaning the potential for breakage is increased, a development which has implications for the projection of diamond grade and which will require further evaluation. As a result, the group will defer further processing of the kimberlite drill sample from Soapy Bore until advice on the issue is obtained.
"The size distribution of the recovered diamonds from Soapy Bore is less favourable than that obtained from float samples at high priority Target 5, but firm conclusions cannot be drawn until the effect of stone breakage at Soapy Bore is carefully evaluated," said Sunrise Executive Chairman
Sunrise also briefly said it has won an exploration licence for the
Most Popular Stories
- Consumer Prices Edge Up, Surprising Economists
- Steris to Add 100 Jobs in Birmingham
- Clinton Rallies New England Women
- Market Jolt Offers a Reality Check for Investors
- Ebola in New York, Mali Raises Travel Jitters
- Do Voters Want Compromise?
- Beepi Eases Peer-to-peer Auto Sales
- Stocks Close Out Best Week in Nearly 2 Years
- Microsoft Earnings Drive Stocks Higher
- Timeline for New York Ebola Doctor