Business
Exploration Update – Pioche Sepiolite Project
Exploration Update – Pioche Sepiolite Project.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n13 August 2024\n \nSUNRISE RESOURCES PLC\n(\"Sunrise\" or the \"Company\")\n \n \nExploration Update - Pioche Sepiolite Project\n \nFurther to the Company's announcement of 12 July 2024, Sunrise Resources plc is pleased to advise that the Phase 2 drilling and pitting programme at its Pioche Sepiolite Project in Nevada, USA has been successfully completed.\n \nSummary:\n \n· Drilling was carried out using the sonic drilling method1 by drilling contractor Harris Exploration.\n \n· Drilling focussed on the central and eastern area of the claim block (2022 drilling focussed on the central and western areas).\n \n· 12 vertical holes completed for a total of 460m over an area of 160 ha.\n \n· 6 pits were dug using an excavator to sample well defined sepiolite beds at surface\nover a strike length 2.7km.\n \n· 107 separate drill samples and 6 pit samples have been sent to Tolsa's lab in Spain for sepiolite characterisation.\n \nThe drill programme was managed and funded by Tolsa USA Inc (\"Tolsa\"), a subsidiary of Spanish sepiolite producer, Tolsa S.A., the world's largest sepiolite producer.\n \nTolsa holds an option to purchase the Pioche project for US$1.4 million exercisable by 28 December 2024 with future payments to Sunrise of a 3% revenue-based royalty on production.\n \n \nFurther information:\n\n\n\n\nSunrise Resources plc\nPatrick Cheetham, Executive Chairman\n\n\nTel: +44 (0)1625 838 884\n\n\n\n\n \nBeaumont Cornish Limited\nNominated Adviser\nJames Biddle/Roland Cornish\n\n\nTel: +44 (0)207 628 3396\n\n\n\n\n \nPeterhouse Capital Limited\nBroker\nLucy Williams/Duncan Vasey\n \n\n\nTel: +44 (0)207 469 0930\n \n\n\n\n\n \nMarket Abuse Regulation (MAR) Disclosure\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \n \nNomin...