Sunrise Resources PLC shares jumped on Tuesday as it said it has had its permit submission for exploration at the NewPerl perlite project in the USA approved by the Bureau of Land Management.
The work programme is designed to test the Knoll prospect at NewPerl.
READ: SVS has ‘speculative buy’ on Sunrise Resources, sees 0.41p target rising sharply as permitting progresses
The permit allows for eight drill holes and bulk sampling of up to 1,000 tons.
Perlite from the surface of the Knoll Prospect has returned excellent expansion results in testing for coarse and super coarse horticultural applications.
"We see potential for the NewPerl project to provide a supplemental feed to the CS project,” said Sunrise chairman Patrick Cheetham.
“Our objective is to define mineable tonnages of premium quality perlite that can be processed using the planned CS project infrastructure. This will allow us to move into commercial-scale testing of samples from NewPerl at a much earlier stage than was possible for the CS project."
In afternoon trading, shares in Sunrise Resources were 10% higher at 0.11p.
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