Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to provide the following project update:
- Commercial trials completed for bulk samples:
- 2 tons of raw perlite successfully expanded in commercial production furnace to produce horticultural grade perlite suitable for the cannabis industry.
- 100 tons of pozzolan ground in commercial scale production mill and tested positive for compliance with ASTM C618 standard for natural pozzolan.
- Initial three phase, 15-year mine plan completed.
- Perlite and pozzolan process options include low capex alternatives.
- Positive market developments:
- Demand for natural pozzolan expected to increase as fly ash shortages continue to build.
- Horticultural grade perlite market stimulated by increasing legalisation of cannabis.
- Permitting timeline reviewed following regulator's procedural changes - estimated completion (mine ready) during third quarter 2019.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: "I am delighted to be announcing the successful completion of commercial-scale trials on bulk samples of both the pozzolan and perlite from our CS Project. These pave the way for commercial arrangements with the parties involved and tests are also in progress with other potential customers. It is a good time to be entering these markets. Cement companies and fly ash suppliers are already grappling with a shortage of fly ash and this shortage will be intensified when the largest supplier to western markets, the large coal-fired Navajo Power Station in Arizona, closes as expected in 2019. Meanwhile the perlite market in the western US continues to be strong as more US States, and now Canada, continue the legalisation of cannabis for which perlite provides an ideal growing medium."