Sunrise Resources Plc NEWPERL PROJECT - TEST RESULTS (0134M)
03 January 2019 - 6:00PM
UK Regulatory
TIDMSRES
RNS Number : 0134M
Sunrise Resources Plc
03 January 2019
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 Tel: +44 (0)1625 838 884
Patrick Cheetham, Executive
Chairman
Tel: +44 (0)207 628 3396
Beaumont Cornish Limited
Nominated Adviser
James Biddle/Roland Cornish
Tel: +44 (0)203 700 0093
SVS Securities Plc
Broker
Tom Curran/Ben Tadd
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).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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