LONDON (ShareCast) - Mineral exploration group Sunrise Resources said its US project in County Line showed a diatomite product that could be generate to commercial standards.
The London-listed company said following the positive results of two programmes of surface sampling on its Nevada site, it was planning further exploration in May to identify areas suitable to support early production.

Group chief executive Patrick Cheetham described the results as a "real breakthrough" for the group, adding they highlighted the potential of the project.

"The initial production of the higher-value filtration grade diatomite product from the County Line Diatomite deposit is a very important development for the company," analysts at Northland Capital Partners said in a note on Monday.

"Previously the large proportion of broken diatoms from Sunrise's preliminary testing seemed to be a potential limiting factor in the production of filter grade product.

"This latest work demonstrates that this is not the case and significantly improves the attractiveness of the project."

Meanwhile, Sunrise added that it had hired independent consultants to manage the drill permit application with the US Bureau of Land Management at the Bay State Silver project, where it aims to test two different veins.

Sunrise shares were down 8.36% to 0.252p at 16:22 on Monday.

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