Sunrise Resources (LON:SRES), the diversified mining explorer, has made "excellent" progress in its two main aims, it said, reporting results for the year to end September.
These goals are to generate cash flow from more advanced projects, and to add value by drill testing more speculative exploration targets.
Earlier this month, the firm revealed it had staked claims over a second industrial minerals project - a pozzolan project - in Nevada, USA. That followed news it had leased out its County Line Diatomite claims to EP Minerals in the US for 25 years.
At the Bay State silver project, also in the US, highlight of the period include bonanza grades from underground sampling, while high grade silver was also intercepted from the first three holes.
The pre-revenue firm reported a loss before tax was £301,271 compared to a loss of £700,295 in the 2014 year.