https://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Sun, 18 Nov 2018 02:16:19 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Sunrise Resources steams ahead with CS pozzolan-perlite project as it makes new discoveries at NewPerl ]]> https://www.proactiveinvestors.co.uk/companies/news/209111/sunrise-resources-steams-ahead-with-cs-pozzolan-perlite-project-as-it-makes-new-discoveries-at-newperl-209111.html Sunrise Resources Plc (LON:SRES) is powering ahead with its flagship CS pozzolan-perlite project in Nevada, having recently completed commercial trials on bulk samples at the project.

Two tons of raw perlite have been successfully expanded in a commercial production furnace to produce horticultural grade perlite suitable for the cannabis industry.

READ: Sunrise Resources completes commercial trials on bulk samples from CS project

In addition, 100 tons of pozzolan has been ground in a commercial scale production mill and tested positive for compliance with industry standards for natural pozzolan.

More perlite at NewPerl

About 85 kilometres away from CS, the group has also discovered extensive areas of perlite at its NewPerl project.

It has now staked an additional 40 claims, which has more than trebled the size of the project claim area.

READ: Sunrise Resources finds more perlite at NewPerl project in Nevada

The firm has taken some additional samples from the new discovery areas which it has sent to a lab in Greece for characterisation and testing for horticultural-grade perlite.

Earlier samples tested positive for horticultural-grade perlite – meaning it can be added to soil to prevent compaction – with Sunrise executive chairman Patrick Cheetham saying the latest ones “appear to be similar”.

Demand growing for pozzolan and perlite

Natural pozzolans were used in building as far back as Roman times but are enjoying a revival as they are seen as more environmentally friendly than modern alternatives.

Portland cement, commonly used in cement and concrete mixes, for example, is responsible for 5% of global man-made carbon dioxide emissions.

Portland cement manufacturers in the US have also traditionally used fly ash from coal-fired power stations as a key ingredient.

But as US coal-fired power stations are closed on environmental grounds, half have gone since 2010, natural pozzolan producers have seen demand start to rise again.

“Cement companies and fly ash suppliers are already grappling with shortages of key raw materials, which is set to increase further given that largest supplier to western markets, the coal-fired Navajo Power Station in Arizona is scheduled to close 2019,” said City broker Northland Capital in a note.

Perlite, an industrial mineral often used in horticulture to stop soil compacting, is also enjoying an uptick in demand as a result of the burgeoning cannabis industry, particularly since the legalisation of recreational use in Canada in October.

“The perlite market in North America continues to be strong as industrial-scale cannabis growers build-out major new capacity following Canadian legalization and the relaxation of legislation within a growing number of US states,” Northland said, adding that the discoveries at NewPerl could potentially offer synergies that would add value to SunRise's core CS project.

With shares trading at around 0.16p, Sunrise carries a market cap of about £4mln.

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Tue, 13 Nov 2018 09:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209111/sunrise-resources-steams-ahead-with-cs-pozzolan-perlite-project-as-it-makes-new-discoveries-at-newperl-209111.html
<![CDATA[News - Sunrise Resources to gain new shares in VR Resources as preparation begins for drilling at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/208754/sunrise-resources-to-gain-new-shares-in-vr-resources-as-preparation-begins-for-drilling-at-junction-project-208754.html Sunrise Resources Plc (LON:SRES) is expecting new shares in VR Resources Ltd, in which it already holds an interest, as the company began preparations for drilling at the Junction Copper-Silver-Gold Project area in Nevada, USA.

Patrick Cheetham, executive chairman of Sunrise, said that the commencement of drilling would trigger the issue of 50,000 VR shares to Sunrise as per a sale agreement signed in August last year, taking the total shares issued under the agreement so far to 100,000.

WATCH: Sunrise Resources chairman spells out steps towards production at CS Project

The company said VR had received final approvals for drill permits and start-up was planned for later this month.

VR’s target areas for drilling include the Denio Summit, which lies within Sunrise’s area of interest, defined as the original 15 mining claims staked by Sunrise on the Denio Summit target and to all claim areas staked by Sunrise or VR within a 2-mile area surrounding these.

Sunrise said VR would drill-test several anomalies in the Denio Summit area, including a series of mineralized quartz-feldspar granite dykes and gold-bearing quartz veins at surface along a 1.5 kilometre trend, a broad soil anomaly with copper, silver, gold and tungsten enriched in multiple stations on multiple lines, and chargeability and resistivity anomalies below the surface dykes.

In late-afternoon trading Wednesday, Sunrise shares were steady around 0.1p.

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Wed, 07 Nov 2018 15:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208754/sunrise-resources-to-gain-new-shares-in-vr-resources-as-preparation-begins-for-drilling-at-junction-project-208754.html
<![CDATA[RNS press release - Junction Project - Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107144137_13858883/ Wed, 07 Nov 2018 14:41:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107144137_13858883/ <![CDATA[RNS press release - Director Dealing, Issue of Equity, TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107123404_13858713/ Wed, 07 Nov 2018 12:34:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107123404_13858713/ <![CDATA[RNS press release - Nominated Adviser Status ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181101155348_13852084/ Thu, 01 Nov 2018 15:53:48 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181101155348_13852084/ <![CDATA[Media files - Sunrise Resources chairman spells out steps towards production at CS Project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11079/sunrise-resources-chairman-spells-out-steps-towards-production-at-cs-project-11079.html Thu, 01 Nov 2018 10:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11079/sunrise-resources-chairman-spells-out-steps-towards-production-at-cs-project-11079.html <![CDATA[News - Sunrise Resources finds more perlite at NewPerl project in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/208196/sunrise-resources-finds-more-perlite-at-newperl-project-in-nevada-208196.html Sunrise Resources Plc (LON:SRES) has discovered further extensive areas of perlite at its NewPerl pozzolan-perlite project in Nevada.

NewPerl is located 85 kilometres away from the company’s flagship CS pozzolan-perlite project.

WATCH: Sunrise boss sets out steps towards production at CS READ: Sunrise completes commercial trials on bulk samples from CS project

Recent mapping carried out by Sunrise at NewPerl identified new, large areas of outcropping perlite.

It has now staked an additional 40 claims, which has more than trebled the size of the project claim area.

Targeting method works (again)

“I am pleased to be announcing the expansion of our claim holdings at the NewPerl project,” said executive chairman Patrick Cheetham.

“This new discovery is proof of concept of the targeting method that originally led us to the discovery of the perlite and pozzolan deposits at our CS project and which we now know can be successfully applied elsewhere.

“We have now found and claimed extensive areas of perlite at NewPerl, at multiple separate locations.”

He added: “It is too early to say how the NewPerl Project will fit in with the development of our CS project - which is clearly our priority - but it adds value to and has synergy with the business we are developing.”

Samples sent to Greek lab

The AIM-quoted firm has taken some additional samples from the new discovery areas which it has sent to a lab in Greece for characterisation and testing for horticultural-grade perlite.

Earlier samples tested positive for horticultural-grade perlite – meaning it can be added to soil to prevent compaction – and Cheetham said the latest ones “appear to be similar”.

Canadian cannabis growers to fuel demand for perlite

City broker Northland Capital said the new discoveries fit in will with Sunrise’s development of the more advanced CS project, “potentially offering synergies while adding value to the company’s core business opportunity”.

Analysts also highlighted the “more favourable” market conditions for pozzolans and perlite, with cannabis growers in Canada, where the drug was recently legalised, expected to push up demand.

“Cement companies and fly ash suppliers are already grappling with shortages of key raw materials, which is set to increase further given that largest supplier to western markets, the coal-fired Navajo Power Station in Arizona is scheduled to close 2019,” read a note to clients.

“Meanwhile the perlite market in North America continues to be strong as industrial-scale cannabis growers build-out major new capacity following Canadian legalization and the relaxation of legislation within a growing number of US states.”

Shares rose 5.2% to 0.17p in mid-morning trade on Wednesday.

--Updates for share price and analyst comment--

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Wed, 31 Oct 2018 07:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208196/sunrise-resources-finds-more-perlite-at-newperl-project-in-nevada-208196.html
<![CDATA[RNS press release - NewPerl Project - new perlite discoveries ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181031070004_13848447/ Wed, 31 Oct 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181031070004_13848447/ <![CDATA[News - Sunrise Resources completes commercial trials on bulk samples from CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/208098/sunrise-resources-completes-commercial-trials-on-bulk-samples-from-cs-project-208098.html Sunrise Resources PLC (LON:SRES) saw its shares rise on Tuesday after the firm revealed it has completed commercial trials on bulk samples taken from the CS pozzolan-perlite project in Nevada.

Two tons of raw perlite have been successfully expanded in a commercial production furnace to produce horticultural grade perlite suitable for the cannabis industry.

READ: Sunrise Resources focused on pozzolan/perlite development plans

And 100 tons of pozzolan has been ground in a commercial scale production mill and tested positive for compliance with industry standards for natural pozzolan.

Sunrise has now also completed its initial three phase, 15-year mine plan for the CS project.

Demand for natural pozzolan is expected to increase as fly ash shortages continue to build, while demand for horticultural grade perlite is being stimulated by increasing legalisation of cannabis.

"I am delighted to be announcing the successful completion of commercial-scale trials on bulk samples of both the pozzolan and perlite from our CS project,” said Sunrise chairman Patrick Cheetham.

“These pave the way for commercial arrangements with the parties involved and tests are also in progress with other potential customers. It is a good time to be entering these markets. Cement companies and fly ash suppliers are already grappling with a shortage of fly ash and this shortage will be intensified when the largest supplier to western markets, the large coal-fired Navajo power station in Arizona, closes, as expected in 2019.

"Meanwhile, the perlite market in the western US continues to be strong as more US States, and now Canada, continue the legalisation of cannabis for which perlite provides an ideal growing medium," Cheetham added.

In early afternoon trading, Sunrise shares were 13.8% higher at 0.17p.

In a note to clients, analysts at ‘house’ broker Northland Capital commented: “The successful completion of commercial-scale trials on bulk samples of both the pozzolan and perlite from Sunrise's CS Project paves the way for commercial arrangements with the parties involved, while tests are also is underway with other potential customers.”

They added: “In anticipation of meeting strong demand for its output, Sunrise continues to advance its plant design and mine permitting.”

 -- Adds share price, analyst comment --

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Tue, 30 Oct 2018 08:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208098/sunrise-resources-completes-commercial-trials-on-bulk-samples-from-cs-project-208098.html
<![CDATA[RNS press release - CS Project - Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181030070006_13846699/ Tue, 30 Oct 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181030070006_13846699/ <![CDATA[News - Sunrise Resources completes bulk sampling for commercial trials at the CS project in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/204034/sunrise-resources-completes-bulk-sampling-for-commercial-trials-at-the-cs-project-in-nevada-204034.html Sunrise Resources Plc (LON:SRES) has completed bulk sampling for commercial-scale trials at its CS pozzolan-perlite project in Nevada.

100 tons of natural pozzolan has been mined and supplied to a potentially large customer for commercial-scale testing.

READ: Sunrise Resources focused on pozzolan/perlite development plans

Eight tons of perlite has been mined for testing pursuant to a marketing memorandum of understanding signed earlier this year with a potential customer. Meanwhile, the contract has now been awarded to SGS for processing perlite bulk sample to horticultural perlite grades. Internal mine planning work has also been completed and a contract awarded to SRK Consulting to prepare mine designs for inclusion in the company's permit applications.  

"This phase of bulk sampling marks an important transition from exploration, bench-scale testing and smaller scale customer trials to commercial-scale testing and market development,” said executive chairman Patrick Cheetham.

“This is progressing hand-in-hand with mine design, plant design and mine permitting."    

 

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Mon, 03 Sep 2018 08:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204034/sunrise-resources-completes-bulk-sampling-for-commercial-trials-at-the-cs-project-in-nevada-204034.html
<![CDATA[RNS press release - CS Project - Commercial Trials ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180903070005_13775539/ Mon, 03 Sep 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180903070005_13775539/ <![CDATA[RNS press release - Director dealing and issue of equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180822103148_13764498/ Wed, 22 Aug 2018 10:31:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180822103148_13764498/ <![CDATA[News - Sunrise Resources raises new capital to support progress at CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/201465/sunrise-resources-raises-new-capital-to-support-progress-at-cs-project-201465.html Sunrise Resources Plc (LON:SRES) has raised £400,000 in a share placing to support the company’s CS Pozzolan-Perlite Project in Nevada, USA.

Some 285.7mln new shares are being sold at a price of 0.14p each.

READ: Sunrise Resources jumps higher on news of CS project progress

In a statement the company said that it will use the new capital will be used as it continues mine planning and permitting process work, and, as it continues customer trials of its cement ingredient products.

"We are pleased to welcome new shareholders to our register which share the board's vision for the company and we look forward to reporting on future progress as we advance the CS Project towards production and build our customer base," said Patrick Cheetham, Sunrise executive chairman.

The placing was arranged by SVS Securities, which is now named as the company’s joint broker.

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Tue, 24 Jul 2018 15:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201465/sunrise-resources-raises-new-capital-to-support-progress-at-cs-project-201465.html
<![CDATA[RNS press release - Placing and Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180724144507_13729630/ Tue, 24 Jul 2018 14:45:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180724144507_13729630/ <![CDATA[News - Sunrise Resources jumps on VR Resources’ exploration programme at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/200598/sunrise-resources-jumps-on-vr-resources-exploration-programme-at-junction-project-200598.html Sunrise Resources PLC (LON:SRES) shares jumped in afternoon trading as the company announced an update for the Junction copper-silver-gold-project area in Nevada, USA.

VR Resources Ltd revealed that its ongoing surface exploration this spring has strengthened the targets within the high-grade copper-silver-gold vein system at the Junction Project, in which Sunrise holds an interest.

READ: Sunrise Resources jumps higher on news of CS project progress

VR said it continued to compile and synthesize new data towards the prioritisation of targets for a first-pass drill programme planned for this autumn.

The company said the summary update for the Denio Summit Target, which occurs wholly within the Sunrise area of interest, revealed 1.5km trend of surface showings of copper-silver-gold quartz veins and pegmatites.

Patrick Cheetham, executive chairman, commented: "I am pleased to see that VR is continuing its systematic exploration of this exciting property and planning a drill programme this autumn, an event that triggers a further issue of shares to Sunrise.”

He added: “Whilst our focus remains firmly on developing the CS Project in Nevada, this news is a timely reminder of the value that we have built up in our wider portfolio of drill stage exploration projects.”

In afternoon trading, Sunrise Resources shares jumped 4.8% to 0.17p. 

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Wed, 11 Jul 2018 14:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200598/sunrise-resources-jumps-on-vr-resources-exploration-programme-at-junction-project-200598.html
<![CDATA[RNS press release - Junction Project - Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180711135506_13714242/ Wed, 11 Jul 2018 13:55:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180711135506_13714242/ <![CDATA[News - Sunrise Resources jumps higher on news of CS project progress ]]> https://www.proactiveinvestors.co.uk/companies/news/200101/sunrise-resources-jumps-higher-on-news-of-cs-project-progress-200101.html Sunrise Resources PLC (LON:SRES) shares rose on Wednesday as the firm updated investors on developments at the CS Pozzolan-Perlite Project in Nevada, where it is progressing towards establishing production.

In a statement, the AIM-listed company noted that the permitting and regulatory process is on track, with baseline studies now complete.

Environmental consultants have advised that the baseline studies have not identified any obstacles to the proposed mine development, and the final assessment now rests with the regulatory authorities.

READ: Sunrise Resources focused on pozzolan/perlite development plans

In the field, testing work remains ongoing, with analysis being conducted on samples from recent drilling.

Additionally, the company noted that talks have continued with potential customers, for the HQNP and perlite produced from the site.

Patrick Cheetham, Sunrise executive chairman, said: "I am pleased to be reporting further progress as we advance the CS Project towards production.

“The favourable results from our baseline environmental studies will facilitate a smooth permitting process and the regulatory process is on track.

“Testwork results continue to be outstanding and will feed into our mine and process plant designs which we expect to complete within the next two months.”

He added: “In addition to the previously reported interest in our future perlite production, we are pleased with the high level of interest being shown by potential customers in our future HQNP production and we continue to service these enquiries and provide samples for the customers' own testwork."

In late morning trading, Sunrise shares were 6.9% higher at 0.19p.

In a note to clients, analysts at ‘house’ broker Northland Capital said; “The additional test work results should be useful as the Company continues to advance its discussions with potential customers.”

 -- Adds share price, analyst comment --

 

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Wed, 04 Jul 2018 07:56:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200101/sunrise-resources-jumps-higher-on-news-of-cs-project-progress-200101.html
<![CDATA[RNS press release - CS Project - Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180704070003_13704536/ Wed, 04 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180704070003_13704536/ <![CDATA[RNS press release - Admission to AIM of Block Energy plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180611080006_13674040/ Mon, 11 Jun 2018 08:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180611080006_13674040/ <![CDATA[News - Sunrise Resources finds second potential customer for Perlite at CS in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/198155/sunrise-resources-finds-second-potential-customer-for-perlite-at-cs-in-nevada-198155.html Sunrise Resources Plc (LON:SRES) has found a second customer for perlite from its CS Project in Nevada.

A non-binding memorandum of understanding has been signed with the unnamed company that Sunrise hopes will lead to a definitive purchase and sales agreement for minimum quantities of raw perlite.

Patrick Cheetham, executive chairman, said that while that no formal agreements had yet been signed, the combined minimum annual offtake tonnages specified in the two MOUs exceeds the expected perlite production when operations get underway.

Perlite expands up to ten times when heated and because of this property it is used for cavity wall insulation and aerating soil.

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Mon, 04 Jun 2018 07:37:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198155/sunrise-resources-finds-second-potential-customer-for-perlite-at-cs-in-nevada-198155.html
<![CDATA[RNS press release - CS Project - 2nd Offtake MOU ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180604070006_13664746/ Mon, 04 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180604070006_13664746/ <![CDATA[News - Sunrise Resources pushing hard to deliver production in the first half of next year ]]> https://www.proactiveinvestors.co.uk/companies/news/197372/sunrise-resources-pushing-hard-to-deliver-production-in-the-first-half-of-next-year-197372.html Sunrise Resources PLC (LON:SRES) has made good progress towards the development of the CS Pozzolan-Perlite project since its mid-December update.

In its half-year results statement, executive chairman, Patrick Cheetham, said Sunrise is pushing ahead with mine planning and permitting, and season sensitive environmental baseline studies have been completed or are in progress.

The developer said it is also starting to see the results of its market development work and highlighted “a significant step forward” in the recent signing of a memorandum of understanding for an off-take agreement and commercial testing with a major buyer and processor of raw perlite.

READ: Sunrise Resources shares surge as it secures MOU for development of CS project​

“We are continuing to push hard in developing the CS Project with the ambition to deliver first production by the end of the first half of 2019,” Cheetham added.

As for the half-year results, they were much as expected, with a loss before tax of £174,517 in the six months to the end of March, versus a loss of £162,860 the year before.

At present, the company has no revenue.

The group ended the reporting period with £320,636 in cash and cash equivalents, up from £287,982 the year before.

Shares in Sunrise were unchanged.

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Mon, 21 May 2018 11:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/197372/sunrise-resources-pushing-hard-to-deliver-production-in-the-first-half-of-next-year-197372.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180521103004_13648617/ Mon, 21 May 2018 10:30:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180521103004_13648617/ <![CDATA[Media files - Sunrise Resources signs MOU for first sales of perlite from CS project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9158/sunrise-resources-signs-mou-for-first-sales-of-perlite-from-cs-project-9158.html Fri, 27 Apr 2018 12:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9158/sunrise-resources-signs-mou-for-first-sales-of-perlite-from-cs-project-9158.html <![CDATA[News - Sunrise Resources shares surge as it secures MOU for development of CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/195921/sunrise-resources-shares-surge-as-it-secures-mou-for-development-of-cs-project-195921.html Sunrise Resources PLC (LON:SRES) shares surged in early trading Friday after it said it had signed a non-binding memorandum of understanding (MOU) that will pave the way for the first sales of perlite from its CS Pozzolan-Perlite project in Nevada, USA.

The AIM-listed miner said that under the terms of the MOU, the parties would negotiate a purchase and sales agreement to sell/buy a minimum quantity of raw perlite over a specified period.

WATCH: Sunrise Resources signs MOU for first sales of perlite from CS project

Sunrise added that the purchaser, a long established buyer and processor of raw perlite, would provide commercial and logistical support and advice to Sunrise during the development of the perlite deposits on its CS and NewPerl Projects.

The purchaser would also make its production plant available to the projects for commercial scale testing, the company said in a statement.

Sunrise also said that the proposed Offtake Agreement would account for a significant proportion of the production tonnage required to justify development of its perlite deposits.

Patrick Cheetham, executive chairman of Sunrise, said: "This is a significant step forward for the Company and a key value driver for the CS Project. The perlite deposits at our CS and NewPerl Projects represent new discoveries and are creating significant interest amongst consumers of raw perlite.

He added: “The market for horticultural grades of perlite is particularly strong and we look forward to working with the Purchaser to bring the project into production. In the meantime our mine permitting work and pozzolan testwork is continuing apace."

In late afternoon trading, Sunrise Resources shares topped the London market's gainer board, up shares were up 46.2% at 0.19p.

In a note to clients, analysts at 'house' broker Northland Capital said: "It’s important to note that the current MOU for a proportion of the potential perlite production is non-binding and there remains a risk that it will not lead to a commercial offtake agreement. However, it remains an important first step towards securing an offtake agreement."

 -- Adds broker comment, updates share price -- 

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Fri, 27 Apr 2018 07:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195921/sunrise-resources-shares-surge-as-it-secures-mou-for-development-of-cs-project-195921.html
<![CDATA[RNS press release - CS Project - Offtake MOU ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180427070006_13620890/ Fri, 27 Apr 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180427070006_13620890/ <![CDATA[News - Sunrise Resources focused on pozzolan/perlite development plans ]]> https://www.proactiveinvestors.co.uk/companies/news/195877/sunrise-resources-focused-on-pozzolanperlite-development-plans-195877.html AIM-listed Sunrise Resources PLC (LON:SRES) is now almost fully focused on its CS Pozzolan-Perlite project in Nevada, US.

In the last three years, pozzolan, and CS particularly, have become the most important area for the group, with most of its other interests either sold or up for sale.

READ: Sunrise Resources lifted by VR Resources’ exploration success at Junction project

A second stage of drilling was recently completed to prove up the resource at CS and establish the parameters of a potential open pit operation.

CS also has a perlite credit. Perlite expands up to ten times when heated and because of this property it is used for cavity wall insulation and aerating soil.

Memorandums of understanding for perlite

Sunrise has signed two non-binding memorandums of understanding (MOU) that will pave the way for the first sales of perlite from CS.

Under the terms of the agreements of the MOU, the parties would negotiate a purchase and sales agreement to sell/buy a minimum quantity of raw perlite over a specified period.

Patrick Cheetham, executive chairman, said that while no formal agreements had yet been signed, the combined minimum annual offtake tonnages specified in the two MOUs exceeds expected perlite production when operations get underway.

Demand growing

Natural pozzolans were used in building as far back as Roman times but are enjoying a revival as they are seen as more environmentally friendly than modern alternatives.

Portland cement, commonly used in cement and concrete mixes, for example, is responsible for 5% of global man-made carbon dioxide emissions.

Coal ash

Portland cement manufacturers in the US have also traditionally used fly ash from coal-fired power stations as a key ingredient.

But as US coal-fired power stations are closed on environmental grounds, half have gone since 2010, natural pozzolan producers have seen demand start to rise again.

Sunrise Resources has two other pozzolan/perlite opportunities in Nevada: NewPerl and PozzAsh, though these are at an earlier stage of development than CS.

Baker’s Gold project in Western Australia

Elsewhere, Sunrise Resources has carried out exploration at Baker’s Gold project with infill soil sampling confirmed 500 metres long gold-in-soil anomaly.

This sampling enhanced the value and marketability of the gold project, as the company is looking for a joint venture partner or to sell it outright.

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Thu, 26 Apr 2018 12:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195877/sunrise-resources-focused-on-pozzolanperlite-development-plans-195877.html
<![CDATA[News - Sunrise Resources commissions exploration work at Bakers Gold project ]]> https://www.proactiveinvestors.co.uk/companies/news/195343/sunrise-resources-commissions-exploration-work-at-bakers-gold-project-195343.html Sunrise Resources Plc (LON:SRES) said recent exploration work at its Baker's Gold Project in Western Australia had enhanced the marketability of the asset.

The company paid for mapping and sampling within the Dicky Lee open pit at the up-for-sale Baker's Gold Project and to conduct infill soil sampling within the nearby DRL4 gold-in-soil anomaly.

READ Sunrise Resources eyes big pozzolan resource in Nevada​

Mapping and chip sampling of gold-bearing quartz-stockwork veins in the Dicky Lee open pit saw gold (Au) values of up to 32.1 grams per tonne (g/t), averaging 1.7 g/t.

Individual veins are generally narrow and so grades being reported cannot be considered representative of the deposit as a whole and no attempt was made to systematically evaluate the grade of the hydrothermally altered host dolerite although the few samples taken assayed up to 1.4 g/t Au, Sunrise advised.

Infill soil sampling at the DRL4 target, which lies some 750 metres (m) south-west of the Dicky Lee pit, confirmed a 500 metres-long gold-in-soil anomaly while increasing the tenor and enhancing the definition of drill target.

The target was drilled back in 1987 with the hole averaging 0.55 g/t Au over the 22m interval from 2m down-hole depth to the end of hole at 24m and the final 2m sample assayed 1.17 g/t Au.

“These new and positive exploration results were generated at low cost and enhance the value and marketability of the Baker's Gold project as we continue our divestment programme of non-core assets and focus on the development our CS Pozzolan-Perlite Project in Nevada, USA," said Patrick Cheetham, the executive chairman of Sunrise.

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Thu, 19 Apr 2018 08:19:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195343/sunrise-resources-commissions-exploration-work-at-bakers-gold-project-195343.html
<![CDATA[RNS press release - Baker's Gold Project - Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180419070002_13610150/ Thu, 19 Apr 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180419070002_13610150/ <![CDATA[News - Sunrise Resources lifted by VR Resources' exploration success at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/195160/sunrise-resources-lifted-by-vr-resources-exploration-success-at-junction-project-195160.html Shares in Sunrise Resources Plc (LON:SRES) surged after an exploration update on the Junction project in Nevada, in which Sunrise has an interest.

VR Resources Ltd (CVE:VRR) revealed that surface exploration is in progress at its Junction copper-silver property in north-western Nevada.

A gravity survey has been completed and a large, high contrast gravity anomaly has confirmed the down-dip potential of copper-silver veins at the Denio Summit target in the western part of the property.

An induced polarisation survey (IP) is now taking place to evaluate and refine the target.

VR also revealed that it had increased the size of the Junction property again by staking an additional 19 claims within the area in which Sunrise is interested.

“We are compelled to see the strong spatial association of the gravity anomaly and surface copper-silver showings at the Denio Summit target; the size and magnitude (density contrast) of the anomaly are evidence for the down-dip continuation of the sulphide veins, and potentially a sulphide bearing intrusive source,” VR said.

“The overall vein system at Junction extends for six kilometres along the Antelope Shear Zone; our work this spring will increase our understanding of the entire system, and more specifically refine and evaluate the Denio Summit target for first-pass drilling," the company added.

Shares in Sunrise were up 4% at 0.13p in lunchtime trading.

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Tue, 17 Apr 2018 13:27:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195160/sunrise-resources-lifted-by-vr-resources-exploration-success-at-junction-project-195160.html
<![CDATA[RNS press release - Update - Junction Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180417124159_13607802/ Tue, 17 Apr 2018 12:41:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180417124159_13607802/ <![CDATA[News - Sunrise Resources pleased at Junction project's claim expansion ]]> https://www.proactiveinvestors.co.uk/companies/news/194406/sunrise-resources-pleased-at-junction-project-s-claim-expansion-194406.html Sunrise Resources PLC (LON:SRES) said it was pleased to see the company, which bought its Junction copper-silver-gold project in Nevada, USA expand its footprint there.

Sunrise holds an interest in VR Resources Ltd and says the latter's claim staking on the ground has increased nearly sevenfold since the project was sold.

READ: Sunrise Resources prepares for bulk sample at CS, as potential customers circle

"Junction was our first project disposal following our commitment to focus Sunrise's strategy on our pozzolan and perlite business," said Sunrise executive chairman Patrick Cheetham.

"It is pleasing to see VR advance this highly prospective project and we continue to explore opportunities to unlock value for our shareholders through further disposals of our portfolio of non-core mineral assets."

Sunrise holds shares in VR and ongoing interests in Junction which will result in further VR shares being issued to Sunrise if drilling is carried out and again if a  resource estimate is achieved.

Sunrise is also entitled to a 3% royalty on any future production.

VR has said that work to-date at the site demonstrated a "... robust mineral system which the company will explore aggressively in 2018, including expanded geochemistry, and grid-based ground and airborne geophysics, all towards prioritizing integrated exploration targets for first-pass diamond drilling."

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Fri, 06 Apr 2018 07:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/194406/sunrise-resources-pleased-at-junction-project-s-claim-expansion-194406.html
<![CDATA[RNS press release - Update - Junction Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180405160859_13593900/ Thu, 05 Apr 2018 16:08:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180405160859_13593900/ <![CDATA[News - Sunrise Resources prepares for bulk sample at CS, as potential customers circle ]]> https://www.proactiveinvestors.co.uk/companies/news/193851/sunrise-resources-prepares-for-bulk-sample-at-cs-as-potential-customers-circle-193851.html Sunrise Resources PLC (LON:SRES) shares were higher on Tuesday, helped by news it has submitted 120 composite drill samples from its CS pozzolan-perlite project in Nevada for testing.

Eighty are being tested for pozzolan and 40 for perlite. The tests follow on from the intersection of thick zones of tephra pozzolan from bedrock surface in step-out holes in the Main and Northeast Zones earlier in the year.

READ: Sunrise Resources announces positive results from phase 2 drilling at CS project

Sunrise is now in the process of planning a bulk sample, and requests have already been received from potential customers to supply raw perlite for commercial scale expansion trials, the company said in a statement. 

In addition, the natural pozzolans at CS are being evaluated as a green replacement for Portland cement in cement mixes and concrete mixes.

Perlite is used as a lightweight industrial material and horticultural growing medium.

Baseline permitting is set to begin in April and contractors have already been selected for the work.  

“Interest in our planned perlite production from consumers is keen and we will accelerate the bulk sampling and commercial scale trials to service this demand,” said Sunrise chairman Patrick Cheetham.

In afternoon trading Sunrise shares were 3.9% higher at 0.14p.

 -- Adds share price -- 

 

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Tue, 27 Mar 2018 07:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/193851/sunrise-resources-prepares-for-bulk-sample-at-cs-as-potential-customers-circle-193851.html
<![CDATA[RNS press release - CS Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180327070002_13582086/ Tue, 27 Mar 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180327070002_13582086/ <![CDATA[RNS press release - Statement re Joint Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180302132317_13553156/ Fri, 02 Mar 2018 13:23:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180302132317_13553156/ <![CDATA[News - Sunrise Resources announces positive results from phase 2 drilling at CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/191755/sunrise-resources-announces-positive-results-from-phase-2-drilling-at-cs-project-191755.html Sunrise Resources Plc (LON:SRES) has announced positive results from the phase 2 of drilling at the CS pozzolan-perlite project in Nevada.

The company completed 25 reverse circulation percussion drill holes at 838m to better define the zones of commercial interest and assist in the preparation of mine plans for permitting.

Thick zones of Tuff pozzolan were intersected from bedrock surface in all but one of eight holes drilled in the Tuff Zone .In the Main Zone, 12 drill holes intersected perlite from bedrock surface. Thick perlite intersections of up to 26m were encountered.The first step-out hole into Northeast Zone hit tephra pozzolan from bedrock surface to a depth of 40m.

Drilling results exceed expectations 

"The phase 2 drill programme has delivered everything that was hoped for and more,” said executive chairman Patrick Cheetham.

“The thick and open-ended intersections of tephra pozzolan from bedrock surface in the step-out holes in the Main Zone and Northeast Zone are impressive and demonstrate potential to add substantially to the known pozzolan deposits in the Tuff and Main Zones.

“We are now very confident that the Main and Northeast Zones are part of one continuous zone with a very large open-pit tonnage potential."

READ: Sunrise Resources boosted by findings of cement testing

The group said 81 composite samples from drilling will be submitted for pozzolan testing and 40 composite samples for perlite testing. 

The testing will take place over several months.

READ: Sunrise Resources prepares to kick off phase two drilling of CS pozzolan-perlite project

The company said now that the high quality of the pozzolan is established, it will not be releasing interim test results unless they differ materially from previously announced results. 

A summary of the results of the testing programme for Phase 2 drill samples will be released on completion but important results from step out holes, the ongoing perlite application tests and advanced pozzolan testing will be announced “as and when meaningful conclusions can be reached”, Sunrise said.

 

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Fri, 16 Feb 2018 07:49:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/191755/sunrise-resources-announces-positive-results-from-phase-2-drilling-at-cs-project-191755.html
<![CDATA[RNS press release - CS Project - Positive Drilling Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180216070002_13535463/ Fri, 16 Feb 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180216070002_13535463/ <![CDATA[RNS press release - Issue of Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180201133157_13518433/ Thu, 01 Feb 2018 13:31:57 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180201133157_13518433/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180131121518_13516438/ Wed, 31 Jan 2018 12:15:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180131121518_13516438/ <![CDATA[News - Sunrise Resources boosted by findings of cement testing ]]> https://www.proactiveinvestors.co.uk/companies/news/190381/sunrise-resources-boosted-by-findings-of-cement-testing-190381.html Sunrise Resources PLC (LON:SRES) told investors it has now received independent certification testwork results for samples of natural pozzolan, from the group’s CS project in Nevada, which could significantly reduce a form of cement degradation.

The results show that the product mitigates the negative impact of "concrete cancer", Sunrise said.

READ: Sunrise Resources prepares to kick off phase two drilling of CS pozzolan-perlite project

The company added that the CS sample results places it amongst the best natural pozzolans available on the market.

"This is a very important milestone in our testwork,” said Patrick Cheetham, Sunrise chairman.

“The CS pozzolan was tested using some of the most reactive aggregates known in the western USA. Substituting 25% CS natural pozzolan for Portland cement gave an average 96% reduction in expansion compared to control samples using 100% Portland cement after the prescribed 14 days test period.

“The performance of the CS pozzolans in this test places it amongst the best commercially available pozzolans, industrial or natural, and will assist the Company in positioning its products in the market."

READ: Sunrise Resources puts spotlight on Nevada project milestones

As Sunrise explained, the term ‘concrete cancer’ refers to the expansion and consequential cracking which can cause structural failures that can occur when alkalis in cement react with aggregates containing reactive silica. Another term for the phenomenon is ‘Alkali-Silica Reaction’ or ASR.

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Mon, 22 Jan 2018 10:27:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/190381/sunrise-resources-boosted-by-findings-of-cement-testing-190381.html
<![CDATA[RNS press release - Project Updates ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180122100001_13504413/ Mon, 22 Jan 2018 10:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180122100001_13504413/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171229070001_13479729/ Fri, 29 Dec 2017 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171229070001_13479729/ <![CDATA[News - Sunrise Resources prepares to kick off phase two drilling of CS pozzolan-perlite project ]]> https://www.proactiveinvestors.co.uk/companies/news/189240/sunrise-resources-prepares-to-kick-off-phase-two-drilling-of-cs-pozzolan-perlite-project-189240.html Sunrise Resources Plc (LON:SRES) said its phase two drill programme of the CS pozzolan-perlite project in Nevada will begin on January 3.

Drilling will take place at up to 22 different sites at up to 3,000 feet with the aim of defining permitting boundaries for one or more open-pit mine sites for the production of perlite and pozzolan.

READ: Sunrise Resources puts spotlight on Nevada project milestones

The programme will include the Tuff and Main Zones and is estimated to take up to five weeks to complete.

Pozzolans are glassy volcanic rocks, including perlite, having potential as an environmentally friendly replacement for Portland cement in cement mixes and concrete mixes.

READ: Sunrise Resources says Canadian investee firm VR Resources discovers high grade mineralisation at its Junction property in Nevada

Perlite is also used as a lightweight industrial material and horticultural growing medium.

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Fri, 22 Dec 2017 10:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/189240/sunrise-resources-prepares-to-kick-off-phase-two-drilling-of-cs-pozzolan-perlite-project-189240.html
<![CDATA[RNS press release - CS Project Drill Start ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171222102645_13475959/ Fri, 22 Dec 2017 10:26:45 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171222102645_13475959/ <![CDATA[RNS press release - Annual Report and Accounts and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171221070003_13473419/ Thu, 21 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171221070003_13473419/ <![CDATA[News - Sunrise Resources puts spotlight on Nevada project milestones ]]> https://www.proactiveinvestors.co.uk/companies/news/188784/sunrise-resources-puts-spotlight-on-nevada-project-milestones-188784.html Sunrise Resources Plc (LON:SRES) highlighted project milestones and looked forward to an active 2018 as it released its full year results at Wednesday’s stock market close.

The AIM-quoted mining group, focused on projects in Nevada, put the spotlight on its strategic decision to focus on the CS Pozzolan-Perlite project where it is advancing towards a production start-up target in 2019.

READ: Sunrise Resources says Canadian investee firm VR Resources discovers high grade mineralisation at its Junction property in Nevada

It also highlighted that the market for natural pozzolan, as a "green" replacement for Portland cement, in cement and concrete mixes is growing while the horticultural market for perlite is also growing, driven by the continuing legalisation of cannabis in the US.

A successful concept study was among the standout project milestones in the year, with the study endorsing proposed open pit mining and a simple processing method - the financial model indicates attractive financial returns based on low capital and operating cost estimates.

Meanwhile, the company also conducted a successful maiden drill programme at the project, confirming thick intervals of pozzolan and perlite in Main Zone and Tuff zones, and a second drill programme will zero-in on the proposed open pit areas.

“I am pleased to report on the evolution and delivery of our strategic plan in 2017 as we advance our CS Project towards potential production,” said chief executive Patrick Cheetham.

READ: Sunrise Resources gets go-ahead for more drilling at Nevada pozzolan deposit

“We have achieved a number of project milestones during the year and have an active work programme planned for 2018 aimed at a start to mining operations in the first half of 2019.

“I look forward to reporting further progress and to meeting shareholders at our upcoming AGM."

The pre-production company reported a £311,046 loss for the twelve months ended September 30, with administration cost accounting for £276,568.  It ended the period with £234,181 of cash and equivalent.

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Thu, 14 Dec 2017 07:27:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188784/sunrise-resources-puts-spotlight-on-nevada-project-milestones-188784.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171213162155_13464564/ Wed, 13 Dec 2017 16:21:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20171213162155_13464564/ <![CDATA[News - Sunrise Resources says Canadian investee firm VR Resources discovers high grade mineralisation at its Junction property in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/188644/sunrise-resources-says-canadian-investee-firm-vr-resources-discovers-high-grade-mineralisation-at-its-junction-property-in-nevada-188644.html Sunrise Resources Plc (LON:SRES) has revealed that Canadian firm VR Resources Ltd. (TSX.V:VRR), in which has a stake, has announced the discovery of high grade, polymetallic copper-silver-gold sulphide mineralisation at its Junction property in north-central Nevada, USA.

In its statement, VR Resources said it has discovered high grade copper-silver-gold mineralisation on the surface at 29 different locations in two main areas spanning a 6 kilometre strike length.

READ: Sunrise Resources gets go-ahead for more drilling at Nevada pozzolan deposit

The Junction property is located some 50 kilometres north of VR’s flagship Bonita copper-gold property.

VR's CEO Dr Michael Gunning commented: "Simply stated, Junction has surpassed our expectations.  The consistent rock and mineral associations in nearly 30 different occurrences across 6 kilometres of strike speaks to a robust mineralising system”. 

He added: “To be clear, we view these collective attributes at Junction as highly prospective and a material opportunity for the Company in 2018".

VR said it plans to aggressively follow-up this discovery in 2018.

READ: Sunrise Resources raises £500,000 to advance CS pozzolan-perlite project

AIM listed Sunrise Resources – which is focused on the development of its CS Pozzolan-Perlite Project - holds shares in VR and ongoing interests in the Junction Project which may result in additional VR shares being issued to Sunrise if certain exploration milestones are met and which includes a 3% royalty on any future production payable to Sunrise.

Commenting on VR’s announcement, Sunrise Resources’ executive chairman Patrick Cheetham said: "Our ongoing interests in VR and the Junction Project result from the sale of the project and allow us to participate in the value creation that mineral discoveries can bring, at no further cost to Sunrise and this provides a great template for the valorisation of our portfolio of 100% owned projects now that we are focussed on the development of our CS Project."

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Tue, 12 Dec 2017 09:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188644/sunrise-resources-says-canadian-investee-firm-vr-resources-discovers-high-grade-mineralisation-at-its-junction-property-in-nevada-188644.html