SUNRISE RESOURCES PLC
(the "Company")
3 January 2019
NEWPERL PROJECT - TEST RESULTS
Further to its announcement of 31 October 2018 Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to announce positive results from expansion testing of perlite samples from the new discovery areas on its NewPerl Project.
Highlights
· Expandability testing indicates that the majority of October's reconnaissance samples are suitable for production of horticultural grade perlite.
· Project can move quickly to drilling and bulk sampling and commercial scale testing.
· For future permitting reasons the NewPerl Project area is now split into a new northern area now named as the Jackson Wash Project, and the original southern area which will continue to be known as the NewPerl Project.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: "This is further good news from the NewPerl exploration areas. Our work and project expenditure will remain firmly focused on developing the CS Project in 2019 but we now have sufficient confidence in the quality of the perlite on the NewPerl claims to consider this as future feed to the CS Project and to plan for drilling, bulk sampling and commercial-scale testing, the next steps in the evaluation of these large areas of high quality perlite."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman |
Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish |
Tel: +44 (0)207 628 3396 |
SVS Securities Plc Broker Tom Curran/Ben Tadd |
Tel: +44 (0)203 700 0093 |
Detailed Information
In October 2018 the Company carried out further reconnaissance exploration on its NewPerl Project which is located in Nevada, USA approximately 85km from its CS Pozzolan-Perlite Project. This resulted in the discovery of extensive outcrops of perlite and the staking of a large number of additional claims as set out in the Company's news release of 31 October 2018.
Results have now been received from expandability testing of the 12 reconnaissance samples taken from outcropping areas of perlite. This testwork was carried out at In.mat-Lab in Greece in accordance with the Company's established procedures and evaluated the suitability of the sampled material for expansion to produce valuable horticultural grades of perlite.
The reconnaissance samples were collected from two target/claim groups. These groups are 16km apart and for permitting reasons the northern target/claim group will now be split out from the NewPerl Project and referred to as the Jackson Wash Project whilst the original southern target/claim group will retain the NewPerl Project name.
NewPerl Project
In the original discovery area seven samples were taken within an area 4.6km long by 1.5km wide within which perlite outcrops in a number of isolated mounds, hillocks and mesas underlain by rhyolite and surrounded by broad flats of alluvial cover. Two key targets have been identified for follow up where samples have shown excellent expandability results for horticultural grades of perlite. In one of these areas perlite has been found along a 200m wide flank of a 1km long ridge with up to 80m vertical relief. The second target area is a small knoll where high quality horticultural grade perlite protrudes from the surrounding alluvial plain over an area 150m by 150m. Whilst small in area, similar material occurs as float over a wide surrounding area suggesting that similar material is found under shallow cover in the area surrounding this knoll.
Jackson Wash Project
Five reconnaissance samples were taken in this area which was included in the claim staking referred to in the 31 October news release. Test results highlight a significant new perlite target for horticultural grade perlite. The best samples come from a perlite flow that outcrops more or less continuously over a length of 1.6km with a width averaging 150m and a vertical projection of up to 10m from its immediate surroundings. Other perlite flows within this northern claim block have yet to be sampled.
None of the samples taken during the October reconnaissance have been tested for other perlite applications and additional horticultural-related tests remain to be carried out. However, based on the experience gained at the CS Project the Company has sufficient confidence in the results obtained to date to start planning for drilling and bulk sampling. It is likely that the company will move to commercial-scale testing of samples from NewPerl and Jackson Wash at a much earlier stage than was possible for the CS Project.
Notes:
1. The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and a member of the Australasian Institute of Mining & Metallurgy.
2. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
About Sunrise Resources plc
The Company's objective is to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in our diverse portfolio of industrial minerals, precious metals and base metal projects.
Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).
