REG - Sunrise Resources - Pioche Sepiolite Project - Update

Sunrise ResourcesAnnouncement

23/07/2025 07:00

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RNS Number : 1252S  Sunrise Resources Plc  23 July 2025

23 July 2025

 

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

 

 

Pioche Sepiolite Project - Update

 

 

Sunrise Resources plc is pleased to advise that it has now taken delivery of
all remaining surface and drill samples from its Pioche Sepiolite Project in
Nevada.

 

The samples were collected by Tolsa USA, Inc. ("Tolsa"), during the period it
held the project under option from the Company (June 2022 to December 2024).
The samples have a cumulative weight of approximately one tonne and have been
shipped from Tolsa's head office in Spain. The samples come from surface
trenching and two periods of drilling using auger and sonic drill rigs.

 

The sepiolite samples will now be used for additional in-house testing by the
Company's partner in the project, Tom Powell, an expert in sepiolite, and to
provide material to various parties who have expressed interest in the Pioche
Project since Tolsa's withdrawal from the project at the end of 2024.

 

The results from Company's work on a small subset of samples shipped in
advance of the main consignment were reported in a news release dated 15 April
2025. Those results compare very favourably with commercially available
sepiolite in the US and confirm the commercial potential of the large
sepiolite clay deposits at Pioche across a range of applications including
critical saltwater applications in the valuable oil and gas drilling market.

 

Since then, the Company has carried out 3D modelling of the sepiolite horizons
drilled by Tolsa. This work has demonstrated that the main sepiolite horizon
can be correlated between drill holes, despite their wide spacing.

 

A drill plan and schematic drill cross sections can be found at the end of
this news release, illustrating the large near surface extent of the main
sepiolite horizon and a second, lower sepiolite horizon, seen only in deeper
drill holes.

 

 

Commenting today, Executive Chairman Patrick Cheetham said:

 

"It has taken rather longer than anticipated to obtain these samples, but we
are now able to move our discussions with interested parties to the next
stage.

 

"We are very encouraged to see a high level of interest in the Project from
both US domestic companies, as well as international industrial mineral
companies and feel that Tolsa's work has added substantially to the value of
the Project over and above the US$1.2 million option purchase price that was
first agreed with Tolsa back in 2022, prior to any exploration taking place."

 

 

 

 

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)

 

 

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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.

 

Qualified Person Information:

The information in this release has been compiled and reviewed by Mr. Patrick
Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the
AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of
the Institute of Materials, Minerals & Mining and also a member of the
Australasian Institute of Mining & Metallurgy.

 

Cautionary Notice

The news release may contain certain statements and expressions of belief,
expectation or opinion which are forward looking statements, and which relate,
inter alia, to the Company's proposed strategy, plans and objectives or to the
expectations or intentions of the Company's directors. Such forward-looking
statements involve known and unknown risks, uncertainties and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such forward-looking statements. Accordingly, you should not rely on any
forward-looking statements and save as required by the AIM Rules for Companies
or by law, the Company does not accept any obligation to disseminate any
updates or revisions to such forward-looking statements.

 

 

 

 

NOTES:

 

About the Pioche Sepiolite Project

The Pioche Sepiolite Project claims are 100% owned by SR Minerals Inc.
("SRM"), a Nevada-registered and wholly owned subsidiary of Sunrise Resources
plc. Tom Powell holds a 20% beneficial interest in the Project.

The Project is located in Lincoln County, Nevada, to the northeast of Pioche,
a historic mining town just off US Route 93. The Company's mining claims are
on Federally owned land administered by the Bureau of Land Management. Access
to rail is available at the town of Caliente, 35 miles south of the project
area on Route 93.

Originally documented as a sepiolite occurrence in the 1970s, the occurrence
was relocated by the Company in 2021. In 2022, Tolsa, a US subsidiary of
Spanish sepiolite producer Tolsa SA, entered into an option to purchase
agreement with SRM and explored the property until December 2024 when the
option period expired.

Tolsa completed programmes of geological mapping, trenching, auger drilling
and sonic drilling. This identified two (possibly three) sub-horizontal and
extensive sepiolite beds outcropping intermittently along the margins of two
mesas now known as the West and East Mesa areas. A silica rich caprock tops
the sepiolite at the discovery location forming low mesas and flattened
ridgetops.

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 a number of industrial products.

At present, there is only one active sepiolite mining operation in the USA,
but the future of that operation is limited by the encroachment of areas of
critical environmental concern.

Technical Glossary

 

Auger drilling: a method of drilling where the ground is penetrated by and
sample recovered on a helical screw. Suitable for shallow reconnaissance
drilling of unconsolidated materials. The drill hole is not cased (enclosed)
and so is susceptible to wall rock contamination and poor recoveries.

 

Sonic drilling: a method of drilling where a hollow drill stem is vibrated at
high frequency under load, sometimes under rotation, penetrating the ground
and recovering an uncontaminated sample. Ideally suited for drilling clays
where the samples are recovered as solid cores or plugs.

 

 

 

 

 

 

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