LONDON (Alliance News) - Sunrise Resources PLC said Wednesday it discovered further extensive areas of perlite at its NewPerl project in Nevada, trebling the size of the project claim area.
Shares in the company focused on developing its CS pozzolan-perlite project in Nevada were trading up 6.1% at 0.18 pence each.
The company said it found 40 additional claims which significantly increased the project's claim area.
Executive Chairman Patrick Cheetham said: "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."
On Tuesday, Sunrise Resources had said it had completed commercial-scale trials at the CS pozzolan-perlite project with positive results, leading to a significant share price jump that day.
Perlite is a type of volcanic glass used to aid water retention in soil. Natural pozzolans are used to make cement.
Sunrise Res (SRES)