Proactive Investors - Run By Investors For Investors

Sunrise Resources surges as it reports positive results from latest discoveries at NewPerl

The firm said expansion testing of reconnaissance samples taken in October had indicated that the majority were suitable for the production of horticultural grade perlite
Perlite
Perlite is often used in horticulture to prevent soil compacting

Sunrise Resources Plc (LON:SRES) shares surged in early trading Thursday after it reported positive results from the testing of perlite samples from new discovery areas of its NewPerl project in Nevada.

The resources developer said expansion testing of reconnaissance samples taken in October had indicated that the majority were suitable for the production of horticultural grade perlite, and now the project could move “quickly” toward drilling, bulk sampling, and commercial scale testing.

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

Perlite is a form of volcanic glass that is often used in horticulture to prevent soil compaction and allow more air around the roots of plants.

Sunrise added that the project area was now split in a new northern area named as the Jackson Wash project, while the southern area would continue to be known as NewPerl.

The results follow news in October that the company had staked 40 additional claims at NewPerl, more than trebling its area after mapping discovered new, large areas of outcropping perlite.

Sunrise’s executive chairman, Patrick Cheetham, said the firm now had “sufficient confidence in the quality of the perlite on the NewPerl claims” to consider it as a future feed to its flagship CS project, located around 85km from NewPerl.

Shares were up 18.2% at 0.13p.

--Adds perlite description and updates share price--

View full SRES profile View Profile

Sunrise Resources PLC Timeline

Related Articles

Landscape in Peru
January 24 2019
Ayawilca is a 150 sq km area 200 km northeast of Lima in the zinc-lead-silver belt of central Peru. Tinka owns 100% of the concessions
A map of Torrens ground's proximity to high-profile mining deposits in the Olympic Dam province
April 04 2019
The company holds the Torrens project with Aeris Resources, a copper producer at the Tritton operations in NSW.
Toral
April 30 2019
A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln

© 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