Sunrise Resources Plc Pioche Project Update (4372X)
April 26 2023 - 2:00AM
UK Regulatory
TIDMSRES
RNS Number : 4372X
Sunrise Resources Plc
26 April 2023
26 April 2023
SUNRISE RESOURCES PLC
("Sunrise" or the "Company")
Pioche Project Update
Sunrise Resources plc is pleased to provide an update on Tolsa's
planned activities for the Company's Pioche Sepiolite Project
following the recent doubling of the project area.
___________________________________________________________________________
Key Points
-- Testwork on several one-ton bulk samples collected from the
previously reported trenching programme is progressing
satisfactorily in Tolsa's laboratories in Spain.
-- Detailed site topographic survey to commence next month.
-- Resource definition drilling programme scheduled to start in June.
-- Tolsa, the world's largest producer of sepiolite, has an
option to purchase the Pioche Project for US$1.25 million no later
than 28 December 2023.
-- Sunrise to retain 3% revenue royalty from the expanded
project area should Tolsa purchase the Pioche Project.
The topographic survey will be a high-definition survey and will
allow the shallow sepiolite beds identified in the previous
trenching programme to be projected more accurately for drill
planning.
Tolsa plans to mobilise a drill rig from its Wyoming bentonite
operations to carry out the drill programme which is currently
scheduled to start in June.
Commenting today, Executive Chairman Patrick Cheetham said:
"We are pleased to see that Tolsa's exploration programme is
gathering pace ahead of its option decision towards the end of the
year. We understand that the results of all work programmes to date
are positive, and we look forward to seeing the results of Tolsa's
drilling programme in due course."
__________________________________________________________________________
About Sepiolite
Sepiolite 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.
Further information:
Sunrise Resources plc Tel: +44 (0)1625 838 884
Patrick Cheetham, Executive
Chairman
Tel: +44 (0)207 628 3396
Beaumont Cornish Limited
Nominated Adviser
James Biddle/Roland Cornish
Tel: +44 (0)207 469 0930
Peterhouse Capital Limited
Broker
Lucy Williams/Duncan Vasey
Shares in the Company trade on AIM. EPIC: "SRES".
Website: www.sunriseresourcesplc.com
Market Abuse Regulation (MAR) Disclosure
The 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.
Notes
-- Further information on the Pioche Project can be found on the Company's website at:
https://www.sunriseresourcesplc.com/pioche-sepiolite-project
-- Further information on the Company's agreement with Tolsa and
information on Sepiolite and Tolsa can be found in the company's
news release of 28 June 2022 at:
https://www.sunriseresourcesplc.com/news/category/news
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END
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