Sunrise Resources Plc – SRES – CS PROJECT: MINE PERMIT IS GRANTED

Sunrise Resources Plc – SRES – CS PROJECT: MINE PERMIT IS GRANTED

Further to its announcement of 24 June 2020 the Company is delighted to announce the issue of the mine permit for its CS Perlite-Pozzolan Project in Nevada, USA.

 

Highlights

 

Ø Environmental Assessment Final - Federal Bureau of Land Management (BLM) delivers a "Finding of No Significant Impact" (FONSI).

 

Ø BLM Decision Record (Mine Permit) issued thereby authorising:

 

·     Mine Plan of Operations ("the Plan");

 

·     Production of up to 1,656,000 tons of perlite and 14,523,000 tons of natural pozzolan; and

 

·     Rights of Way for water well site and access development.

 

Ø Perlite and natural pozzolan now permitted as locatable minerals - No Federal royalty payable.

 

Ø Initial reclamation bond agreed.

 

Ø Draft Air Quality Permit Issued by Nevada Division of Environmental Protection Bureau of Air Pollution Control.

 

Ø Project to move into trial mining stage, detailed engineering and financial modelling/mine finance evaluation.

 

 

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "This positive mine permit decision comes after 2½ years of mine planning, environmental studies and reporting and I am very proud of the tremendous effort put in by our employees with limited budgets and resources.

 

We can now move forward with the staged development of mining and mineral processing operations at the CS Project free from the ground disturbance limitations that have previously constrained our ability to extract and process large scale samples for customer development. This is required to secure offtake agreements and the grant of the mining permit will be a major catalyst in this process.

 

The mine permit comes at a propitious time as cement industry demand is growing for natural pozzolan as a fly ash replacement and the horticultural demand for perlite is increasing with the rising cultivation of medicinal marijuana.

 

We believe that this is a major value adding milestone for the Company and puts the project firmly on the map as one of just a few permitted deposits of perlite and high quality natural pozzolan in the US."

 

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