TIDMSRES
RNS Number : 9547P
Sunrise Resources Plc
23 February 2021
23 February 2021
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
Project Updates & Company Presentation
CS Pozzolan-Perlite Project, Nevada, USA
Natural Pozzolan
On 13 January 2021, the Company announced the successful
delivery of a 500-ton sample of natural pozzolan to a large cement
and ready-mix company (CRMC) in the western USA. The CRMC cannot be
identified at this stage for commercial reasons.
The CRMC has advised that the material is scheduled to be ground
by the end of March and will then be utilized in a number of
commercial concrete pours.
The Company has commissioned independent strength testing of
mortar blocks made using a 20% substitution of ordinary Portland
cement with natural pozzolan from a sub-sample of the 500-ton bulk
sample in accordance with ASTM C618 (the test standard for natural
pozzolan). Results show a mortar strength well in excess of the
requirements of ASTM C618 after just 7 days curing. This result is
consistent with previous laboratory testing of CS natural pozzolan
by both the Company and the CRMC. Accordingly, the Company is
expecting positive results from the CRMC's commercial trials once
complete.
Perlite
Further to its announcement of 16 November 2020, the Company has
been advised by potential customers who are trialing the Company's
raw perlite that they have experienced exceptional demand for
horticultural perlite in 2021 with one reporting the highest demand
in its decades-long history and a large backlog in orders that need
to be filled.
This is a very positive indicator for the Company's development
plans. However, as a result these potential customers have been
reluctant to cease commercial production in order to use their
production facilities to test the Company's product and as a result
testing was delayed, cut short and, in one case, not yet started.
Only one potential customer has provided detailed feedback to date,
describing the test as "promising but inconclusive". The expanded
perlite product was described as having a good, low, bulk density
and it had a good white colour, but it was too fine grained.
Particle size distribution in the raw perlite feed is largely a
function of the crushing and screening process and is important in
determining the particle size distribution of the expanded product
where a coarse particle size distribution is required for
horticultural perlite.
The Company's testing and analysis shows that during the
crushing and screening process carried out by the Company's
contractor the screens operated inefficiently resulting in
over-crushing of the perlite and the inclusion of too much fine
perlite in the products and that this is likely to have adversely
affected the quality of the expanded product.
The supply of a coarser particle size can be resolved with small
adjustments to the crushing and screening process but in this case
only 100 tons of material was available for processing and there
was insufficient opportunity to optimise the crusher and screen
settings.
It is important to note that another of the potential customers
has previously reported a very positive test on the Company's
perlite using perlite taken from the exact same location, but which
did not contain so many fines (see news release of 14 August 2019).
Consequently, the Company has further reason to believe that the
identified expansion issue can be resolved with delivery of raw
perlite having a coarser particle size distribution.
The Company is now working with its crushing and screening
contractor to modify the processing circuit to achieve a coarser
product for further trials. The contractor has indicated that a
process plant should be available for late March/early April. A
larger bulk sample, 200 tons of raw perlite, is already on hand for
this work.
Alongside the opportunities for horticultural perlite, the
Company is also continuing its evaluation of production
opportunities for industrial grades of perlite which make up 84% of
the perlite market and which have been produced successfully from
CS project perlite at a laboratory scale.
Bakers Gold Project, Australia
The Company is pleased to advise that its plans for drilling
various gold targets at its Bakers Gold Project are progressing
well and that a drill rig is provisionally booked for a drill start
at the end of March.
The proposed drill programme will comprise five reverse
circulation drill holes between 100 and 200m deep to test three
separate gold targets which include old mine workings, areas of
gold nugget production and a gold-in-soil geochemical anomaly.
Further information will be provided once a firm start date is
secured.
Company Presentation, Q & A Opportunity
On the Wednesday 3 March 2021, at 11.00am, the Chairman of the
Company, Patrick Cheetham, will be making a webinar presentation
and interested parties will be invited to register and submit
questions in advance to the meeting.
Further details will be published via an RNS Reach announcement
before Friday 26 February.
This announcement contains inside information as defined in
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)207 469 0930
Peterhouse Capital Limited
Broker
Lucy Williams/Duncan Vasey
Notes:
Forward Looking Statements.
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.
Covid-19
To date the Covid-19 pandemic has not affected the progress of
the Company's projects. Mining is considered an essential industry
in Nevada and existing operations are progressing largely as
normal, as is mineral exploration. However, the future impact of
Covid infections in Nevada and more widely in the US is
unpredictable. Travel bans are still in place between the US and
the UK and many US companies have self-imposed internal travel
bans. These factors have the potential to negatively affect and
delay the Company's plans.
Qualified Person Information
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 also a member of the Australasian
Institute of Mining & Metallurgy.
.
Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com
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END
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