Proactive Investors - Run By Investors For Investors

Sunrise Resources receives new shares in VR Resources following start of drilling at Junction project

The shares were issued as part of a sale agreement signed last year, with another 250,000 shares due once VRR completes a 43-101 compliant mineral resource estimate
Share
Sunrise now holds 100,000 shares in VRR

Sunrise Resources PLC (LON:SRES) has received 50,000 new shares in VR Resources Ltd (CVE:VRR) following the start of drilling at the Junction copper-silver-gold project in Nevada.

The shares were issued to Sunrise as part of a sale agreement with VRR signed last year, with another 250,000 shares due in the event VRR completes a 43-101 compliant mineral resource estimate for the project.

READ: Sunrise Resources to gain new shares in VR Resources as preparation begins for drilling at Junction project

Following the latest share issue, Sunrise now holds 100,000 shares in VRR.

The company also holds a 3% net smelter return royalty interest in the original 15 claims sold to VRR as part of the project, in addition to any additional claims staked in a two-mile radius by VRR.

VRR began preparations for drilling at the site in early November after receiving final approvals for drill permits at the project.

In early trading Tuesday, Sunrise shares were steady around 0.1p.

-- Adds share price --

View full SRES profile View Profile

Sunrise Resources PLC Timeline

Related Articles

Lithium on table of elements
April 04 2019
The McDermitt Lithium Project features a high-grade ETR of 20-80 million tonnes at 2100-2600 ppm.
Piedmont's Carolina location map, showing nearby mines and lithium processing facilities
April 22 2019
Piedmont Lithium is a large landholder in North Carolina pursuing regulatory approvals for its Piedmont US-lithium project.
project area
February 06 2019
Drilling to improve the JORC classification and extend the current resource will start this quarter.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use