StockMarketWire.com - Sunrise Resources said it had signed an agreement with Liberty Moly for a lease of water rights to be used in the development of its CS pozzolan-perlite project in Nevada.

The lease covered an initial five-year period renewable for a further five one-year periods and covered enough water for the project's annual projected requirements at full production rates.

The company said that it would now, with assistance from Liberty Moly, apply to the Nevada Division of Water Resources for permits to enable extraction of water.

'This is another tick in the box for project development,' executive chairman Patrick Cheetham said.

'We need water for dust control and so are delighted to have secured this water lease.'




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