Sunrise Resources Plc CS PROJECT - UPDATE (0218N)
September 20 2019 - 1:00AM
UK Regulatory
TIDMSRES
RNS Number : 0218N
Sunrise Resources Plc
20 September 2019
SUNRISE RESOURCES PLC
(the "Company")
20 September 2019
CS PROJECT - UPDATE
Sunrise Resources is pleased to provide the following positive
updates on progress at its CS Pozzolan-Perlite Project in Nevada,
USA.
Permitting
The Company advises that good progress has been made since the
last mine permitting update on 31 July when the remaining
permitting steps were set out.
All of the Supplemental Environmental Reports ("SERs")
previously in preparation have now been completed and submitted to
the lead regulator, the Bureau of Land Management ("BLM"). The SERs
analyse the impact of the CS Project on various natural resources
(e.g. water, air quality, wildlife, soils, land use, vegetation,
geology, etc.) on a cumulative basis taken with other existing or
proposed developments in the project's wider area. These impacts
are considered by the Company's environmental consultants to be
minor or negligible in most cases except in respect of the mine
area itself where there is a moderate but localised impact on soils
and geology as would be expected for any mining operation.
The information from the SERs, the Company's baseline studies
and Plan of Operations are now being combined into the
Environmental Assessment "(EA") document. The preparation of the EA
is nearly complete and on approval of the SERs by the BLM this
document will be submitted and put forward by the BLM for public
comment as a part of the final permit approval process which is now
an expedited process under recent government directives.
Since the last permitting update, the BLM has introduced a
hydrological baseline study as a new permitting requirement for
mining projects. Whilst completing the SERs and drafting the EA,
the Company has completed and submitted this baseline study to the
BLM for approval so as not to delay the permitting process.
The Company's permitting timeline remains on track.
Mine Planning
The Company has been advancing its plans for the initial
production of perlite and pozzolan using mobile processing
equipment typically used in the quarry industry. The Company has
been working with equipment suppliers to cost and source the
required process plant and has received cost proposals for the
rental of the various plant items in line with the Company's
objective to develop the project at minimal capital cost. This
development option aims to produce a horticultural grade perlite
and a finely crushed natural pozzolan for direct feed to customers'
grinding facilities.
Marketing
Following the reporting of further successful commercial scale
perlite expansion tests the Company has received strong enquiries
from a number of potential new perlite customers. The Company now
plans a series of larger commercial scale tests and intends to
process the 100-ton perlite bulk sample currently located on site
to produce additional supplies of crushed and screened
horticultural grade raw perlite for supply to these new customers.
Consideration is also being given to processing a bulk sample from
the Company's NewPerl Project at the same time, for which a permit
has already been granted.
Commenting today Sunrise Executive Chairman Patrick Cheetham
said: "I am pleased to be reporting that our mine permitting
process remains on track for completion towards the end of the next
quarter. Our project has generated further strong interest amongst
the attendees of the Perlite Institute Annual Meeting held last
week where customer discussions continue to reinforce the
opportunity for a new supplier of raw perlite. The latest United
States Geological Survey commodity summary shows a growing market
for perlite with a 12% annual rise in US consumption in 2018 and a
22% rise over 2015, driven in part by increased use of perlite in
the expanding cannabis market in North America."
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 and Broker
James Biddle/Roland Cornish
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
UPDBUGDCRDBBGCC
(END) Dow Jones Newswires
September 20, 2019 02:00 ET (06:00 GMT)
Sunrise Resources (LSE:SRES)
Historical Stock Chart
From Apr 2024 to May 2024
Sunrise Resources (LSE:SRES)
Historical Stock Chart
From May 2023 to May 2024