Sunrise Resources Plc NewPerl Project - new perlite discoveries (7656F)

TIDMSRES

RNS Number : 7656F

Sunrise Resources Plc

31 October 2018

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

31 October 2018

NEWPERL PROJECT - NEW PERLITE DISCOVERIES

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to announce the discovery of further extensive areas of perlite at its NewPerl Project which is located approximately 85km from its CS Project in Nevada, USA.

Highlights

   --     Recent mapping has identified new, large areas of outcropping perlite. 
   --     Additional 40 claims staked. 
   --      Project claim area increased by over 250%. 

-- Additional samples from new discovery areas submitted for characterisation and testing for horticultural grade perlite.

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "I am pleased to be announcing the expansion of our claim holdings at the NewPerl Project. This new discovery is proof of concept of the targeting method that originally led us to the discovery of the perlite and pozzolan deposits at our CS Project and which we now know can be successfully applied elsewhere. We have now found and claimed extensive areas of perlite at NewPerl, at multiple separate locations. Earlier testing results from the initial discovery outcrops tested positive for expansion to horticultural grade perlite and the additional samples collected from these new areas during the latest mapping programme appear to be similar. These samples are now at the lab in Greece for testing. It is too early to say how the NewPerl Project will fit in with the development of our CS Project - which is clearly our priority - but it adds value to and has synergy with the business we are developing."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Further information:

 
 Sunrise Resources plc 
  Patrick Cheetham, Executive Chairman    Tel:    [phone] 
 
 Northland Capital Partners Limited 
  Nominated Adviser & Joint Broker 
  Matthew Johnson/Edward Hutton/ 
  Jamie Spotswood (Corporate Finance) 
  Isabella Pierre (Corporate Broking)     Tel:    [phone] 
 SVS Securities Plc 
  Joint Broker 
  Tom Curran/Ben Tadd                     Tel:    [phone] 
 

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.

Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com

About Perlite

Perlite is a type of rock, a glassy raw material which, when heated in a furnace, pops like popcorn and expands by up to 20 times in volume into a white or pale coloured, low density material.

Expanded perlite is used as a potting medium in gardening and horticulture to aid water retention and aeration of the soil. Perlite is used extensively in the cultivation of cannabis with a growing market driven by the legalisation of cannabis in various US States and in Canada.

Perlite is also used in various industrial and household applications such as insulation, paint texturing, building materials, filter aids, and for insulating industrial cryogenic storage vessels.

Some perlites can also be used as a natural pozzolan.

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October 31, 2018 03:00 ET (07:00 GMT)