Sunrise Raises $7.5M as High-Grade Scandium Drilling Boosts Syerston Project
Sunrise Energy Metals reports strong high-grade scandium drill results at Syerston and secures $7.5 million to accelerate project development. The company is updating its feasibility study amid growing market demand and geopolitical supply pressures.
- 125-hole drilling campaign confirms high-grade scandium mineralisation
- Re-assay of 1997 drill samples reveals additional significant scandium intercepts
- Placement and Share Purchase Plan raise $7.5 million to fund pre-development
- Feasibility study update underway, targeting a scalable, low-capital mine
- Ongoing discussions with specialty alloy, semiconductor, and aerospace customers
Strong Drilling Results Reinforce Syerston's Potential
Sunrise Energy Metals Limited (ASX – SRL) has delivered a robust update on its flagship Syerston Scandium Project in central-west New South Wales. A recent reverse circulation drilling campaign comprising 125 holes and over 3,500 metres has returned multiple high-grade scandium intercepts, including standout results such as 7 metres at 884 parts per million (ppm) scandium starting from just 1 metre depth. These results build on the company’s earlier work and re-assayed historical drill samples from 1997, which also revealed significant scandium mineralisation previously untested for this critical metal.
Capital Raising to Accelerate Development
To capitalise on these encouraging exploration outcomes, Sunrise successfully raised $7.5 million through a combination of a Placement and Share Purchase Plan. The funds are earmarked primarily for advancing pre-development activities at Syerston, including the ongoing update of the project’s feasibility study. This financial boost comes at a pivotal time as the company seeks to refine a scalable, low-capital mine and processing facility design that can expand in line with anticipated market demand.
Feasibility Study Update and Market Engagement
The updated feasibility study, expected by September 2025, aims to incorporate the latest drilling data and cost estimates to optimise the project’s scope. Sunrise is actively engaging with potential customers and end-users across specialty alloy, semiconductor, and aerospace sectors to better understand product specifications, volumes, and pricing. This dialogue is critical given recent geopolitical developments, including China’s export restrictions on scandium and related rare earths, which have tightened global supply chains and heightened demand for alternative sources.
Exploration and Project Optionality
Beyond Syerston, exploration continues in Queensland through the Clonagh Trend Joint Venture, where a 31-hole air core drilling program is underway to test for mineralisation indicators. Meanwhile, activities in New South Wales remain focused on maintaining tenement holdings. The company also maintains its Sunrise Nickel-Cobalt Project in a state of readiness, preserving optionality until market conditions improve. With a strong cash position of $10.7 million as of June 30, 2025, Sunrise is well placed to advance its strategic objectives.
Innovation and Intellectual Property
Sunrise is expanding its patent portfolio related to scandium alloys, targeting applications such as sputtering targets, additive manufacturing alloys, battery conductor foils, and welding wire. These innovations align with the growing importance of scandium in emerging technologies, including 5G/6G telecommunications and advanced aerospace materials.
Bottom Line?
As Sunrise prepares to release its updated feasibility study, the market will be watching closely to see how this high-grade scandium project can capitalize on tightening global supply and growing demand.
Questions in the middle?
- Will the updated feasibility study confirm a viable low-capital, scalable scandium operation?
- How quickly can Sunrise convert expressions of interest into binding offtake agreements?
- What impact will China’s export restrictions have on global scandium pricing and Sunrise’s market positioning?
