In the last three years, pozzolan, and CS in particular, has become the most important area for the group, with most of its other interests either sold or up for sale.
A second stage of drilling was recently completed to prove up the resource at CS and establish the parameters of a potential open pit operation.
CS also has a perlite credit. Perlite expands up to ten times when heated and because of this property it is used for cavity wall insulation and aerating soil.
Memorandum of Understanding
Sunrise signed a non-binding memorandum of understanding (MOU) that will pave the way for the first sales of perlite from its CS Pozzolan-Perlite project.
Under the terms of the agreement of the MOU, the parties would negotiate a purchase and sales agreement to sell/buy a minimum quantity of raw perlite over a specified period.
Sunrise also said that the proposed Offtake Agreement would account for a significant proportion of the production tonnage required to justify development of its perlite deposits.
Shares rose 35% to 0.18p on news of the perlite MOU.
Natural pozzolans were used in building as far back as Roman-times but are enjoying a revival as they are seen as more environmentally friendly than modern alternatives.
Portland cement, commonly used in cement and concrete mixes for example, is responsible for 5% of global man-made carbon dioxide emissions.
Portland cement manufacturers in the US have also traditionally used fly ash from coal-fired power stations as a key ingredient.
But as coal-fired power stations in the US are closed on environmental grounds, half have gone since 2010, natural pozzolan producers have seen demand start to rise again.
Sunrise Resources has two other pozzolan/perlite opportunities in Nevada: NewPerl and PozzAsh, though there are at an earlier stage of development than CS.
Baker’s Gold project in Western Australia
Sunrise Resources carried out exploration at Baker’s Gold project, and infill soil sampling confirmed 500 metres long gold-in-soil anomaly.
This sampling enhanced the value and marketability of the gold project, as the company is looking for a joint venture partner or to sell it outright.