Sunrise Resources Plc (LON:SRES) said results from latest drilling at the Bay State silver project in Nevada is now completed and results from two holes are expected in six weeks.
It was part of a broader release which gave an overview of the firm's strategy and businesses, reiterating it had a portfolio which spanned several different mineral assets.
"Sunrise is primarily focused on the quality of the opportunity rather than any one specific commodity or industrial mineral. For operational synergies, Sunrise prefers to generate new projects in commodities or geographical areas where it already has interests," it said, adding that it believes the commodity sector is now in a recovery phase.
At Bay State silver, the group is permitted for enough drilling to define a maiden mineral resource and plans to seek a joint venture partner for delineation drilling to target a minimum 10mln-ounce silver reserve.
In Nevada, it also has the County Line Diatomite Project, the Pozz Ash project and the Garfield Copper-Gold Project and the Junction gold project. It also has the Newark Gold project, the Clayton silver project. In Australia, there is the Cue diamond project and the Baker's gold project.
In Ireland, the group has the Derryginagh Barite Project.
Sunrise shares raced up 13.64% on the day to 0.25p. House broker Northland has a 'speculative buy' stance on the shares.