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Sunrise Resources making good progress

The company is very close to producing perlite samples from the CS project for potential off-take partners while it is also preparing to drill at its other projects in Nevada and Western Australia

Sunrise Resources PLC -

Sunrise Resources PLC (LON:SRES) said good progress is being made at its CS Perlite-Pozzolan Project to deliver test samples of perlite to potential offtake partners.

In a stock market release providing updates on the company’s projects in Nevada (USA) and Western Australia, Sunrise said a 100-ton bulk sample of perlite is to be processed at the end of this week at the CS Pozzolan-Perlite Project.

Around 20-30 tons of coarse horticultural grade raw perlite will subsequently be split between five different customers across the USA for expansion testing.

The company said it is aiming for the first commercial production of perlite in the spring of next year.

At the Clayton silver-gold project, also in Nevada, a drilling contract has been signed and drilling is expected to start before the end of this month, Sunrise added.

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 has been submitted to the Bureau of Land Management.

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

"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,” said Patrick Cheetham, the executive chairman of Sunrise in the statement.

"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," he added.

Quick facts: Sunrise Resources PLC

Price: 0.272 GBX

AIM:SRES
Market: AIM
Market Cap: £10.02 m
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