LONDON (ShareCast) - Sunrise Resources, the AIM-traded diversified mineral exploration and development specialist, has unveiled positive diamond results from the recently discovered kimberlite float at target five on its wholly-owned Cue diamond project in Western Australia.

The company reported that a high microdiamond count had been returned from a 46.5kg sample and 71% of microdiamonds were white or colourless while 98% were transparent.

Stone size distribution showed potential for larger stones in larger samples, the company added.

Patrick Cheetham, Executive Chairman of Sunrise Resources, said: "This is a positive result for the project. The target five kimberlite float is confirmed as diamondiferous.

“The stone count is the highest seen so far, and whilst the small size of this first sample does not provide enough stones for a meaningful statistical evaluation of diamond grade, initial modelling suggests that the grade is higher than that of the recent drill samples from the Cue 1 kimberlite and that larger stones could be found."

He added: "The surface float at Target Five is much more extensively developed than that associated with the Cue 1 and Soapy Bore kimberlites suggesting potential for a larger source kimberlite."

Sunrise Resources’ share price was up 4.17% to 0.62p at 09:21 on Monday.

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