Sunrise Energy Metals (ASX:SRL), a company focused on developing the Syerston Scandium Project, today announced a substantial update to the Mineral Resource Estimate (MRE) for its Australian rare earth deposit. The announcement reveals a 160% increase in contained scandium metal within high-grade mineralisation zones, solidifying Syerston’s position as the world’s largest and highest-grade scandium deposit. This upward revision comes at a crucial time, as reports indicate growing supply shortages of rare earth elements.
The updated MRE now boasts a global resource of 19,007 tonnes of contained scandium, with an average grade of 414 g/t, representing a 98% increase in contained metal. Notably, over 90% of this global resource is classified within the Measured and Indicated categories, reflecting a high degree of geological confidence. The company highlighted that mineralisation extends from the surface to a depth of 35 metres, allowing for potentially expandable, low-cost mining operations and rapid project development.
CEO Sam Riggall commented, “We’re delighted that the world’s largest and highest-grade primary scandium deposit is now estimated to be even bigger than previously thought following our most recent drilling.” The announcement also noted recent negotiations indicating tightening scandium supply and increased prices following China’s export licensing restrictions imposed in April 2025.
The Syerston Feasibility Study, due for completion later this month, will provide further support for ongoing discussions regarding project financing and offtake agreements. Sunrise Energy Metals also owns the Sunrise Nickel-Cobalt Project, one of the largest and most cobalt-rich nickel laterite deposits in the world. The company remains engaged with potential customers and end-users, progressing financing discussions with government, customers, and investors.
