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Sunrise Resources makes good progress towards production at CS

Snapshot

  • Sunrise Resource owns the CS pozzolan and perlite project in Nevada
  • Pozzolan is a more environmentally cement substitute, while plant growers use perlite
  • Received final permit for mine and mineral processing plant
plant

Quick facts: Sunrise Resources PLC

Price: 0.2675 GBX

AIM:SRES
Market: AIM
Market Cap: £9.86 m
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What it owns

CS Project, Nevada: The Plan of Operations envisages a 27-year mine life where both perlite and natural pozzolan are mined from the Main Zone in years 1-15 with pozzolan continuing to be mined in the Tuff Zone in years 16-27.

NewPerl, Nevada: The NewPerl Prospect comprises a conical outcrop of glassy volcanic rock having a base diameter of approximately 400m and a height of up to 45m above the surrounding plain.

Two key targets have now been identified for follow up where samples have shown excellent expandability results for horticultural grades of perlite.

Jackson Wash, Nevada: 16km away from NewPerl, this was originally part of that project but for permitting reasons is now separate.

 

What it does

"Natural pozzolans are experiencing a resurgence in demand based on their strong “green” credentials.

"Today, pozzolans are used as a direct additive to concrete mixes and as a partial replacement for cement in amounts of up to 35% of the cementing material

"Perlite is a glassy raw material which, when heated in a furnace, pops like popcorn and expands by up to 20 times in volume into a white or pale coloured, low-density material.

"Expanded perlite is used in various industrial and household applications such as insulation, paint texturing, building materials, filter aids, insulating industrial cryogenic storage vessels and as a potting medium in gardening and horticulture to aid water retention and aeration of the soil."

The company also owns some gold projects in Nevada.

 

How is it doing

In October, the firm said it was making progress to deliver test samples of perlite to potential offtake partners at the CS Pozzolan-Perlite Project.

At the end of the month it was about to process a 100-ton bulk sample of perlite, then around 20-30 tons of coarse horticultural grade raw perlite would subsequently be split between five different customers across the US for expansion testing.

In September the company received  an Air Quality Operating Permit, the final permit required for a mine and mineral processing plant.

At the Clayton silver-gold project, also in Nevada, a drilling contract was signed and drilling was expected to start before November.

The drilling will follow up historical exploration where a number of holes ended in mineralisation or did not reach the target depth.

The company also said that a notice of intent to drill the Newark gold project in Nevada was submitted to the Bureau of Land Management.

Down under, preparations continued ahead of planned drilling at the Baker’s gold project in Western Australia.

 

What the boss says: Patrick Cheetham, executive chairman 

"I am pleased to advise that good progress is being made at our permitted CS Perlite-Pozzolan Project to deliver tonnage quantity test samples of perlite to a range of customers as part of the offtake negotiations. We are moving forward with more detailed engineering and financial planning as we aim for first commercial production in Spring 2021.”

"This is an exciting time for Sunrise with regular news updates expected over the coming months from both our CS Project and our gold and silver assets. We are fully funded for the planned work programmes and for the foreseeable future and I look forward to updating shareholders in due course."

 

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