UPDATE & AGM STATEMENT

RNS Number : 6458Q

Sunrise Resources Plc

21 February 2019

 

21 February 2019

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

UPDATE & AGM STATEMENT

Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to advise that a successful concrete test has been completed by a major international cement/ready mix company using the Company's natural pozzolan.

Until now all of the Company's natural pozzolan testwork has involved mortar blocks in accordance with standard testing procedures (ASTM C618) where the Company's natural pozzolan is mixed with cement and sand and the resulting mortar blocks tested for strength. This has been carried out using drill samples (see news release dated 4 July 2018) and more recently with bulk samples (see news release dated 30 October 2018).

The successful test now being reported evaluated the behaviour of concrete made with the Company's natural pozzolan replacing 20% of the cement in the concrete mix. The test was benchmarked against an identical test using a commercially available pozzolan. The Company's natural pozzolan performed well with good strength, low shrinkage and good setting times comparing favourably with the benchmark commercial sample. This test is important in demonstrating the value of the Company's natural pozzolan as a replacement for fly ash in the large end-use ready mix concrete market.

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "We are releasing this news to highlight that, behind the scenes and out of the spotlight, the Company is actively engaged in a number of ongoing testing programmes with a number of international cement companies and ready mix companies that have large operations in the western United States and which are potential customers and partners for our future production of natural pozzolan from the CS Project.

I would like to take the opportunity of the Annual General Meeting to summarise the achievements and progress made since the last AGM and which have been detailed in the 16 separate project related news releases that we have made since then. We have:

·   Completed a 2nd round drilling programme on the CS Project to provide samples for testwork and for mine planning.

·    Initiated and progressed the mine permitting process.

·    Completed permit related baseline environmental and cultural studies.

·    Completed extensive laboratory scale testing of natural pozzolan and perlite samples.

·   Signed MOU's for commercial scale testing and future sales of perlite with two separate raw perlite consumers.

·    Completed a commercial scale test for production of horticultural grade perlite and a commercial scale test for the production of ground natural pozzolan. 

·     Completed initial mine designs for the permitting plan of operations.

·     Completed initial plant designs for both mobile and fixed perlite processing plants.

·     Continued testing programmes with a number of potential customers for both natural pozzolan and perlite - including concrete trials.

·     Made new perlite discoveries at the NewPerl and Jackson Wash projects in Nevada.

This work has been funded through two modest placings this last year which raised a total of £750,000 before expenses.

The Company has been extremely active in advancing the CS Project towards production on a modest budget and I look forward to alerting the market to further developments towards this objective in 2019."

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]

Note:

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 unduly 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. EPIC: "SRES". Website: www.sunriseresourcesplc.com

 

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