NEWPERL PROJECT - EXPLORATION PERMIT APPROVAL

RNS Number : 8780Y

Sunrise Resources Plc

14 May 2019

 

SUNRISE RESOURCES PLC

(the "Company")

14 May 2019

NEWPERL PROJECT - EXPLORATION PERMIT APPROVAL

Further to its announcement of 24 February 2019, Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to announce that its Notice Level permit submission for exploration at the NewPerl Project has been approved by the Bureau of Land Management.

Highlights

• Permitted work programme designed to test the Knoll Prospect at NewPerl.

• Permit allows for 8 drill holes and bulk sampling 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.

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "We see potential for the NewPerl Project to provide a supplemental feed to the CS Project. 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." 

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: [phone]
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish	Tel: [phone]
SVS Securities Plc Broker Tom Curran/Ben Tadd	Tel: [phone]

Background Information

In 2018 and early 2019 the Company carried out a number of reconnaissance sampling programmes 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 mining claims.

Results from reconnaissance samples taken from outcropping areas of perlite showed the potential to produce valuable horticultural grades of perlite. The reconnaissance samples were collected from two targets on two separate claim groups 16km apart and have been split out from the original NewPerl Project and are now 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. The second target area is a small knoll where high quality horticultural grade raw 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. Test results highlight a significant additional 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 claim block have yet to be sampled.

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.

Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).

 

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