Shares in Sunrise Resources Plc (LON:SRES) shined on Wednesday as the explorer revealed that drilling at its CS pozzolan-perlite project in Nevada is due to get underway in a matter of weeks.
Sunrise said it has received the required permits for the proposed drilling and trench programmes and is now in the final stages of appointing a drilling contractor, with a view to start the drill programme in mid-July.
Trenching will be carried out in the meantime, and the AIM-quoted firm added that it is continuing to progress its industrial application testing of surface samples for use as natural pozzolan and perlite.
“I am pleased to be reporting further progress at the CS Project and look forward to providing further updates on a regular basis as we progress this exciting project towards a production decision,” said executive chairman Patrick Cheetham.
The permit award from the US Bureau of Land Management follows the completion of a positive concept study at the project last month.
The programme that the BLM has permitted comprises access track upgrading and the construction of up to 11 drill pads and up to three trenches, Sunrise said.
Multi-phase drill programme
The permit allows for a multi-phase drill programme, with the first phase expected to comprise five holes at approximately 150-250 metre spacing.
This will test the core of the main zone where extensive surface sampling has demonstrated large areas of outcropping perlite with pozzolanic properties.
The main objectives of the first phase of drilling is to collect around ten tonnes of samples for industrial application testing; demonstrate continuity of surface zones at depth; and assist mine planning and industrial trials.
Once the results are back from this first part of drilling, follow on drilling phases will be planned.
What is pozzolan?
Natural pozzolan is a “greener” alternative to the use of Portland cement in cement and concrete mixes.
Interest in pozzolan is growing, especially in the US where traditionally manufacturers have used fly ash from coal-fired power stations as a key ingredient in cement mixes.
But as coal-fired power stations in the US are closed – half have gone since 2010 – natural pozzolan producers are seeing sales soar.
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.
Shares were 25%, or 0.03p, to 0.15p.