Sunrise Resources plc is pleased to provide details of further testwork results and the completion of a positive concept study for development of the CS Pozzolan-Perlite Project in Nevada. Sunrise would also like to update the market on the results of a Board review of the Company’s strategy.
Highlights:
Testwork
· Successful independent certification testing of Main Zone pozzolan.
Concept Study
· Positive Concept Study completed by the Company for production of both pozzolan and perlite.
· Study assumes that long-life, quality deposits will be defined within the known large outcrop areas of pozzolan and perlite.
· Surface mining and simple production process envisaged.
· Preliminary modelling shows attractive financial returns based on low capital and operating cost estimates.
· Permitting study suggests an expeditious Environmental Assessment process rather than full Environmental Impact Statement process.
Board Strategic Review
· Board to focus current management and financial resources on development of CS Project into production and other natural pozzolan opportunities.
· Board will seek progressive valorisation of the Company’s existing precious metal and other industrial minerals projects through joint venture, sale or other arrangements.
Commenting today, Executive Chairman Patrick Cheetham said:
“I am very pleased to report a successful independent certification of CS pozzolan and the positive findings of the Concept Study just a few months after first staking claims for the project. The CS Project’s natural pozzolan has strong “green” credentials for partial replacement of Portland cement which is responsible for 5% of global man-made CO2 emissions.
We have identified a low capital cost development option with attractive returns on the production of both natural pozzolan and perlite. Whilst best practice does not allow the release of forward-looking financial projections before drilling has defined the deposit, we have confidence in the large surface areas of perlite and pozzolan mapped to date. The Board has discussed the findings of the Study and is excited to announce a strategic decision that development of the CS Project should be the Company’s priority.
We will move quickly to initiate the necessary technical work, feasibility studies and start the permitting process. Various value adding marketing and technical milestones have been identified and we hope to move forward with bulk sampling and customer trials later this year.
Meanwhile management will seek to unlock the value intrinsic in its diverse precious, base metal and other industrial minerals portfolio through joint venture, sales or other arrangements.”
