Sunrise Resources PLC (LON:SRES) said it is aiming for first commercial production in 2021 at its CS Pozzolan project in Nevada.
Assay results from the maiden hole of a three-hole programme at the Clayton silver-gold project, also in Nevada, are pending it said alongside results for the year to September 2020.
Sunrise completed a raft of permits for CS during the past year, which has enabled a 100 ton bulk sample of perlite sent to potential horticultural customers and while a large sample of pozzolan is set to be extracted for concrete trials.
Elsewhere, Sunrise also has obtained a drilling permit obtained for the Newark gold project, while a survey of old results will get underway at Bakers Gold Project, Western Australia ahead of drilling early in the New Year.
Patrick Cheetham, executive chairman, said the mine permits at CS were the result of two years of relentless hard work and it is now permitted for the production of an average of 100,000 tons per year of perlite and 500,000 tons per year of natural pozzolan although initial production will be lower.
Cheetham added that perlite from CS is being tested by five potential customers with the aim that these lead to offtake agreements and/or initial orders which will then allow for commercial production to start in 2021.
“The outlook for natural pozzolan demand is bright as the supplies of the fly ash we seek to replace continue to decline with the continuing closure of coal-fired power stations across the USA and the increasing reliance on cheaper and greener renewables and natural gas.”
Sunrise posted a loss of GBP303,000 (GBP301,000) for the year ending September 2020 with cash and equivalents at the year-end of GBP1.1mln.