TIDMSRES
RNS Number : 0057V
Sunrise Resources Plc
25 January 2017
25 January 2017
SUNRISE RESOURCES PLC
("Sunrise Resources" or the "Company")
POZZ PROJECT - 2017 PROGRAMME
Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded
diversified mineral exploration and development company ("the
Company"), is pleased to advise the commissioning of a Concept
Study for development of its CS natural pozzolan project in Nevada
and to provide further details of the work programme proposed for
the first half of 2017. Natural pozzolans are seeing increased use
in cements and concrete as a "greenhouse gas friendly" alternative
to Portland cement.
HIGHLIGHTS:
Following the receipt of positive testwork results for the CS
Pozz Project (as announced on 22 December 2016):
-- The Company has retained Magmatics Inc., a consulting firm
with expertise in natural pozzolans, to assist in the development
of the CS Pozz Deposit.
-- A Concept Study has been commissioned to establish parameters
and timeline for the commercial production of natural pozzolan from
the CS Project; to be completed by the end of Q1, 2017.
-- A preliminary field visit has been completed by Magmatics and
additional testwork samples have been collected.
-- Variability and optimisation testwork to run in parallel to the Concept Study.
Commenting today, Executive Chairman Patrick Cheetham said: "We
are delighted to have retained Magmatics Inc. and its principal,
Joseph Thomas, who has over 20 years' experience in natural
pozzolan and is well placed to assist in the evaluation and
development of this project. The CS Pozz Project is a valuable
addition to our industrial minerals portfolio which includes the
large County Line Diatomite Project currently leased to EP
Minerals, LLC, where we look forward to the possibility of royalty
cash flow in June this year, and the recently acquired Ridge
(high-grade) Limestone Project."
Further information:
Sunrise Resources plc
Patrick Cheetham, Executive Chairman Tel: +44 (0)1625 838 884
Northland Capital Partners Limited
Nominated Adviser & Broker
Edward Hutton/David Hignell
John Howes/Rob Rees Tel: +44 (0)20 3861 6625
Beaufort Securities Limited
Joint Broker
Jon Belliss Tel: +44 (0)20 7382 8300
Detailed Information
The Company's Pozz Project was established to search for and
acquire, at low-cost, deposits having potential for the production
of natural pozzolan. Further details on the Company's opportunity
in natural pozzolan can be found on the Company's website at:
http://www.sunriseresourcesplc.com/projects/pozz-overview
The staking of the CS Deposit in Nevada was announced on 14
November 2016 and the Company has moved quickly to carry out
initial testwork. The results of this testwork, announced on 22
December 2016, were very positive for the production of natural
pozzolan and justify an ambitious programme to evaluate the
economic viability of the project.
The Company has therefore signed a retainer agreement with
Magmatics Inc. to provide consultation services including:
-- an initial Concept Study for development of the CS Deposit.
-- laboratory testing services to optimise the processing of pozzolan from the CS Deposit.
-- supervision of the certification process for Sunrise's pozzolan.
-- liaison with outside agencies, government departments and concrete and cement producers.
The principal of Magmatics, Joe Thomas, is an acknowledged
expert on the application of natural pozzolans and is a voting
member of both the ASTM(1) and ACI(2) pozzolan committees. He has
over 20 years' involvement in the development of natural pozzolan
products for market including over 16 years as Vice President -
R&D at Hess Pumice Products, a leading producer of natural
pozzolan (Hess Pozz) in Idaho.
The Concept Study is being carried out as a high level study to
define the parameters required for a commercial operation and guide
the further assessment of the Company's project. It will include an
initial evaluation of:
-- target markets for initial production.
-- target market size and value.
-- appropriate start up production rates and production strategies.
-- minimum deposit size/quality required(3) (.)
-- parameters for Capex/Opex and Revenue estimates.
-- key steps, budgets and timelines for the project leading up to a production decision.
Magmatics' laboratory testwork will initially test variability
in the performance of samples from across different areas of the
deposit at surface. This will allow decisions to be made on
compositing samples for optimisation testwork as well as drill hole
spacing for resource definition drilling.
Magmatics has completed an initial field visit and collected
samples for testwork.
Further testwork will aim to optimise Sunrise's pozzolan product
specifications in cement or concrete while maintaining economic
viability in terms of processing costs. It will also test Sunrise's
pozzolan in new applications such as geo-polymers, ultrafine
grouts, cementitious blends, etc. and generate baseline data that
will be useful for future projects involving the pozzolan.
The Company expects the Concept Study to be completed by the end
of Q1 2017.
Notes:
1. ASTM International, a globally recognized leader in the
development and delivery of voluntary consensus standards.
2. ACI, the American Concrete Institute
3. Whilst the Company has established that its CS mining claims
contain significant outcrop areas and exposed vertical thicknesses
of glassy rhyolite meeting the chemical requirements for natural
pozzolan, the Company has not yet carried out any drilling and no
code-compliant Exploration Target or Mineral Resource or Ore
Reserve has been defined.
4. This announcement contains inside information for the
purposes of Article 7 of Regulation (EU) 596/2014 of the European
Parliament and of the Council.
5. 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.
Notes to Editors:
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral
exploration and development company. The Company's objective is to
develop profitable industrial minerals mining operations to sustain
the Company's wider mineral exploration efforts and create value
for shareholders through the discovery of world-class precious
metal and diamond deposits.
The Company holds a royalty interest from EP Minerals, LLC in a
diatomite project in Nevada and is evaluating deposits of natural
pozzolan and high-grade limestone. It is also exploring for silver,
gold, and diamonds in Nevada and Western Australia.
Shares in the Company trade on AIM. EPIC: "SRES"
Website: www.sunriseresourcesplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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