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Sunrise Resources Plc: THE INVESTMENT CASE

Sunrise Resources eyes big pozzolan resource in Nevada

"I am delighted to report the intersection of substantial thicknesses of rock identified as perlite and pozzolan,” said Patrick Cheetham, Sunrise executive chairman.
mining truck
INVESTMENT OVERVIEW: SRES The Big Picture
An expanded programme has just completed

With the CS project in Nevada Sunrise Resources Plc (LON:SRES) is hoping to set a new foundation (using ‘green’ cement).

Sunrise is drilling out a potential source of Pozzolan, a natural material that that can be used to make more environmentally responsible mixes of cement.

Interest in pozzolan is growing as a natural and greener alternative to Portland cement and especially in the US where traditionally manufacturers have used fly ash from coal-fired power stations as a key ingredient.

But as coal-fired power stations in the US are closed, half have gone since 2010, natural pozzolan producers are seeing sales soar.

Previously, Sunrise told investors that tests at CS have shown it is a potentially large deposit of perlite, an industrial mineral which expands on heating to a lightweight material with multiple industrial uses.

This material also has potential as a high-quality natural pozzolan while there is also a separate, large area of non-perlitic pozzolan at CS. But, the concept study concluded that that Sunrise will not have carry put a full environmental study and a lower level Environmental Assessment (EA) will suffice.

The company will be able to carry out drilling and bulk sampling to provide samples for customer testing under a simple Notice level permit provided the total area of disturbance does not exceed 5 acres.

Anything produced will have to be trucked and logistics will be a key issue in a final decision on whether to develop the project.

Encouraging results from expanded programme

Sunrise has now completed an expanded drill programme (comprising nine holes rather than five) at CS and drill assays confirmed commercial quantities.

Preliminary results showed thick intervals of pozzolan and perlite-pozzolan, while tests on material from the Tuff Zone, which has been given priority by Sunrise, showed it comfortably met the international standard.

WATCH: Sunrise Resources firms up intervals of Pozzolan and Perlite at CS Project

A number of meetings have been held with potential US customers for both perlite and pozzolan and samples are being readied to be submitted to interested parties for their internal laboratory testing.

Additional trenching also showed extensions of the Main Zone towards the Northeast Zone. Sunrise added that the Pozzolan testwork has now moved onto extensive external certification, starting with the Tuff Zone samples.

Extensions to main zone

Patrick Cheetham, Sunrise’s executive chairman, said the preliminary testing had confirmed the visual observations while the trenching programme has indicated important extensions to the Main Zone’s perlite and pozzolan.

“We have prioritised pozzolan testing on the Tuff Zone and I am pleased to report that the preliminary results show that, in all cases, the pozzolan strength requirements of ASTM C618 required after 28 days curing have been exceeded after only 7 days curing."

The meetings with potential customers had been encouraging, he added.

Sunrise Resources' shares rose 33% to 0.2p.

 

--updates for preliminary drill results --

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