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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sunrise Resources Plc | AQSE:SRES.GB | Aquis Stock Exchange | Ordinary Share | GB00B075Z681 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0215 | 0.019 | 0.024 | 0.0215 | 0.0215 | 0.0215 | 0.00 | 06:27:47 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Mar 2023 to Mar 2025
TIDMSRES
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:
Hot Features
Premium
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
MSCSEEFMLEDSESW
(END) Dow Jones Newswires
July 25, 2023 02:00 ET (06:00 GMT)
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