Zug, Switzerland: May 31, 2023- As an update to previous communications, SunMirror AG (the “Company”, “SunMirror”, Vienna Stock Exchange: ROR1; Frankfurt Stock Exchange: ROR; Düsseldorf Stock Exchange: ROR; ISIN CH0396131929) is pleased to provide further news to announce its exploration activities in Western Australia.
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Explorationslizenz Moolyella (E 45/5573) (92 km2) – Lithium
Following the completion of the MagSpec airborne radiometric and magnetic survey previously reported on March 1, 2023, the Company engaged Southern Geoscience Consultants (SGC) for advanced data processing of the MagSpec data for a complete lithologic and structural interpretation of the license area. SGC is a group of geoscientists dedicated to providing the extractive industries with integrated geophysical solutions of the highest quality.
The work of the SGC includes the following steps:
– Compilation of all available geoscientific data, including newly acquired and processed aerial magnetic and radiometric data, into a GIS.
– Evaluation, including the:
o Areas of magnetic and radiometric anomalies
o Differentiation of magnetic and radiometric trends
o Interpretation and classification of structures, lineaments, faults and folds
o Delineation and interpretation of lithology and stratigraphic relationships
– Selection and prioritization of goals
– Creation of the final interpretation maps
The final results include:
– A fully attributed, digital, GIS-enabled surface geology and structural interpretation (MapInfo/ArcGIS/QGIS)
– Scaled digital maps
– Classified and rated target areas in attributed GIS format (MapInfo/ArcGIS/QGIS)
– A full interpretation report
SunMirror is pleased to announce that the above work is now complete and 25 targets within the license have been identified to be tested for lithium potential. These objectives have been grouped (in terms of priority) into 13 high priority areas, 11 medium priority areas and 2 low priority areas as shown in the map above.
A thorough soil sampling survey is planned over these priority targets to determine their lithium recoveries and to narrow down drill locations. The proposed survey will consist of a maximum of 5,000 soil samples taken on a 50m x 100m grid using a mini drill. This allows the Company to collect a more representative sample beneath the weathered surface material. These samples are then sent for analysis. The work is expected to be completed before the end of July 2023.
The results of the soil sampling will allow the Company to more accurately determine drill hole locations (which will still need to be verified on site during a soil survey) before submitting a Plan of Work (POW) to the Department of Mines, Industry Regulation and Safety (DMIRS) is submitted.
The proposed work plan will then consist of an application for 5,000m of reverse circulation (RC) drilling. Initially, the Company is considering a 3,000m drill program in 5 key target areas to test their potential for lithium bearing pegmatites. The remaining 2,000m of drilling would then be used to verify the results of the initial 3,000m drill program. The RC drilling (subject to Board approval and subject to results) would enable the Company to prepare a core drill program to define a JORC compliant resource.
Kingston Keith Explorationslizenz (E 53/1953) – Lithium + Nickel + Gold
Separately, a third party that has expressed interest in the lithium and gold potential on the Company’s Kingston-Keith license has provided SunMirror with the results of its proprietary artificial intelligence (AI) technology, which includes all known publicly available geological and geophysical data Includes data in Western Australia.
This data, along with other information the Company has collected, forms the basis of a field program about which the Company will provide more information in the near future.
Financial update
As announced in previous communications, SunMirror has reduced its overheads and other expenses in recent months in order to focus its capital resources on shareholder value-added activities centered on its assets in Western Australia. SunMirror currently has $4.2 million in cash on hand as of May 30, 2023 and therefore anticipates that the Company will be able to fund the above exploration activities from existing cash on hand.
About SunMirror AG
The group invests in strategic mineral exploration assets with a focus on sustainable green battery metals such as cobalt, lithium and nickel, as well as copper and gold deposits in developed markets. The Company’s goal is to either produce the minerals at a later date or to sell these assets to strategic buyers. SunMirror differentiates itself from other companies by taking a mine-to-market approach to sustainability throughout the value chain, creating a mining industry best practice.
The company’s shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (official market, ticker: ROR1) and are traded over the counter in Frankfurt, Düsseldorf and Berlin (ticker: ROR) and on Xetra. For more information please visit: www.sunmirror.com
Contact
COMMUNICATION
PUBLIC AFFAIRS
Alexander Schmitt-Geiger
Office Munich
Schwandorfer Str. 3
81549 Munich – Germany
Tel.:+49 (0) 89 51 39 96 00
Mail: [email protected]
Web: www.public-affairs-net.de
(End)
Emitter: –
SunMirror AG
General-Guisan-Strasse 6
6300 Zug
Switzerland-
Contact: -Alexander Schmitt-Geiger
Tel.: -+49 89 51399600
E-Mail: [email protected]
Website: – www.sunmirror.ch
ISIN(s): -CH0396131929 (Aktie)
Stock exchange(s): -Official trading in Vienna
Other trading places: -Freiverkehr in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart
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company contact
SunMirror AG
Dr. A.S. Heinz R Copper
Steinhauserstrasse 74
6300 Zug
+41 (0) 43 505 1400
https://sunmirror.com/
Press contact
SunMirror AG
Dr. Heinz
Steinhauserstrasse 74
6300 Zug
+41 (0) 43 505 1400
https://sunmirror.com/