Zug (pta/16.12.2022/09:30 UTC+1)
Zug, Switzerland: 16 December 2022– As an update to previous communications, SunMirror AG ("SunMirror", Vienna Stock Exchange: ROR1; Frankfurt Stock Exchange: ROR; Düsseldorf Stock Exchange: ROR; ISIN CH0396131929) remains focused on the development of its existing projects, and selectively on the acquisition of other prospective battery metals assets. Over the next 12 months, the Company intends to push forward exploration efforts on its Moolyella and Kingston Keith tenements in Western Australia, where it believes there is significant potential to define and develop high class resources of metals, including lithium, gold and nickel.
With that strategy in mind, the company signed an agreement with MagSpec Airborne Surveys Pty Ltd, Western Australia, to fly aeromagnetic and radiometric surveys over both its Moolyella Lithium Exploration Licence (E 45/5573) and its Kingston Keith Nickel – Gold Exploration Licence (E 53/1953). The surveys are being flown by a single piston engine Cessna 210 or 206 aircraft, with sensor flight height of 30m and line spacing between flight lines of 50m, resulting in a total of 2,358-line kilometers for Moolyella and expected 4,303-line kilometers at Kingston Keith.
As of the date of this news release, the survey over Moolyella has been completed without any standby day charges and the data collected is currently being processed.
The Moolyella airborne data will be interpreted early in the new year with the Company's field data along with public domain data from neighbouring tenements to establish the potential continuity of lithium-bearing structures under the surface cover for drilling.
The survey over Kingston Keith is expected to start mid-January 2023. The data collected will be used to identify potentially gold-bearing structures beneath the surface cover (for follow up drilling) and also outline extent of the granite body in the southern part of the licence, which may have the potential to host lithium mineralisation.
The Company is continually evaluating new battery metal projects (or partnerships on similar assets), primarily in Europe and Australia, which may complement its portfolio of assets. The Company does not anticipate at this stage that any such acquisitions would require a material amount of capital as it primarily focuses on organic growth. Management believes that this nimble approach will put the Company in a position to take advantage of the powerful momentum behind battery metals globally and create significant value for all shareholders.
Separately, SunMirror has been informed by a shareholder that third parties are currently recommending the purchase of SunMirror shares through newsletters and e-mails. SunMirror has not commissioned such newsletters or e-mails and does not pay for their publication or dispatch. SunMirror warns investors not to rely on any such newsletters or e-mails. Authentic information on SunMirror is available on its website at sunmirror.com, which also includes information on stock analysts covering SunMirror.
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About SunMirror AG
The Group invests into strategic mineral exploration assets with a focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as iron ore and gold deposits in developed markets. The company aims to either produce minerals at a later stage or sell those assets to strategic buyers. SunMirror is differentiated by taking a "mine-to-market" approach to sustainability across 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 on the regulated unofficial markets Frankfurt, Düsseldorf and Berlin (ticker: ROR) as well as on tradegate and Xetra. For further information, please visit: www.sunmirror.com.
Dr. Reuter Investor Relations
Dr. Eva Reuter
Friedrich Ebert Anlage 35-37
60327 Frankfurt – Germany
Phone:+49 (0) 69 1532 5857
48145 Münster – Germany
About SunMirror AG
Die SunMirror-Gruppe investiert in strategische Explorationsprojekte mit einem Schwerpunkt auf
|Contact Person:||Dr. Reuter Investor Relations|
|Phone:||+49 69 1532 5857|
|Stock Exchange(s):||Official Trade in Vienna|
|Other Stock Exchanges:||Freiverkehr in Berlin, Düsseldorf, Frankfurt, München, Stuttgart|