REG - Sunrise Resources - Pioche Resource Drilling Programme in Progress

Sunrise ResourcesAnnouncement

25/07/2023 07:00

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RNS Number : 0096H  Sunrise Resources Plc  25 July 2023

25 July 2023

 

 

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

 

 

Pioche Resource Drilling Programme in Progress

 

Further 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.

 

 

Highlights

 

Ø 24 drill hole programme provisionally planned.

 

Ø Holes being drilled by truck mounted auger drill to planned average depth
of approx. 50ft.

 

Ø Shallow drilling reflects the surface and near surface position of mapped
and trenched sub-horizontal sepiolite beds, amenable to open pit mining.

 

Ø Tolsa has an option to purchase the Pioche Project for US$1.25 million no
later than 28 December 2023.

 

Ø Sunrise to retain 3% revenue royalty on production from the project area
should Tolsa purchase the Pioche Project.

 

Ø Tolsa is a subsidiary of Spanish Company, Tolsa S.A., the world's largest
producer of sepiolite.

 

_________________________________________________________________________

 

 

Commenting today, Executive Chairman Patrick Cheetham said:

 

"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."

_________________________________________________________________________

 

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 (http://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
(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
(https://www.sunriseresourcesplc.com/news/category/news)

 

 

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