Sunrise Resources PLC (LON:SRES) shares were lifted on Monday after the group hit a “key milestone” with the submission of a plan of operations for its CS Pozzolan-Perlite Project in Nevada, USA.
The resource developer said the document would now be reviewed by the US Bureau of Land Management, which would conduct an environmental assessment once the process was deemed complete.
READ: Sunrise Resources reports positive progress at CS Pozzolan-Perlite project
The document includes development plans for the site as well as programmes for drilling and bulk sampling to test for extensions of perlite and natural pozzolan, which would take place alongside the mining activity.
"This is a key milestone in the permitting of the CS Project following months of hard work by our small team”, said Patrick Cheetham, Sunrise’s executive chairman.
“We look forward now to progressing the project on several fronts as we continue to advance the project towards production."
The update followed news at the end of April when the company said new tests at the CS project had shown promise for the production of premium-value super-coarse horticultural grades of perlite.
In mid-morning trading, shares were up 4% at 0.1p.