Business
Pioche Resource Drilling Programme in Progress
Pioche Resource Drilling Programme in Progress.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n\n25 July 2023\n \n \nSUNRISE RESOURCES PLC\n(\"Sunrise\" or the \"Company\")\n \n \nPioche Resource Drilling Programme in Progress\n \nFurther to its announcement of 12 June 2023, Sunrise Resources plc is pleased to advise that resource definition drilling is now underway at its Pioche Sepiolite Project in Nevada, USA.\n\n \n\n \nHighlights\n \nØ 24 drill hole programme provisionally planned.\n \nØ Holes being drilled by truck mounted auger drill to planned average depth of approx. 50ft.\n \nØ Shallow drilling reflects the surface and near surface position of mapped and trenched sub-horizontal sepiolite beds, amenable to open pit mining.\n \nØ Tolsa has an option to purchase the Pioche Project for US$1.25 million no later than 28 December 2023.\n \nØ Sunrise to retain 3% revenue royalty on production from the project area should Tolsa purchase the Pioche Project.\n \nØ Tolsa is a subsidiary of Spanish Company, Tolsa S.A., the world's largest producer of sepiolite.\n \n_________________________________________________________________________\n \n \nCommenting today, Executive Chairman Patrick Cheetham said:\n \n\"We are pleased to see the start of resource definition drilling at Pioche. Expectations are high, given the success of previous mapping and trenching carried out by Tolsa. Commercial deposits of sepiolite are rare, and any development of the Pioche deposit will benefit from its proximity to both road and rail as high-value sepiolite clays are traded on a global basis. We wish Tolsa every success with the drilling programme and look forward to further developments.\"\n_________________________________________________________________________\n \nAbout Sepiolite\n \nSepiolite is a rare form of clay with very few commercial deposits in the world. It is non-swelling, lightweight and highly porous. It is used extensively in pet litter, agriculture as a slow-release absorbent and adsorbent carrier for chemicals and pesticides and in animal feeds as a binder and carrier for nutrients and growth promoter. It is also a valuable gelling agent and viscosity modifier in several industrial products.\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\...