News blog
Sunrise Diamonds
- BY: Andrew Hore |
- POSTED: 08/05/2008 |
Sunrise Diamonds has made the most of the geophysical data of Finland it acquired from BHP Billiton.
It identified two potential kimberlite targets on a rival company’s licence area. It agreed to disclose the location to Mantle Diamonds Ltd in return for a 20% free carried interest in the two targets. They are located near to the Lahtojoki kimberlite pipe in the Kaavi region of central Finland. Drilling at Lahtojoki has indicated a diamond grade of approximately 35 carats per hundred tonnes
Sunrise will not have to pay any thing towards drilling and testing. It will only have to contribute to maintain its stake when it comes to a decision to mine.
The shares rose 0.25p to 1.375p.
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