Sunrise Resources plc partner and option holder has completed phase II drilling and pitting at the Pioche sepiolite project in southeastern Nevada.
CHARACTERISATION
Tolsa USA Inc engaged Harris Exploration to use sonic drilling, suitable for drill sampling of soft and unconsolidated materials, focusing on the central and eastern area of the claim block.
The campaign comprised drilling 12 vertical holes for 460m over 160 ha.
An excavator dug six pits to sample “well defined” sepiolite beds at surface over a strike length 2.7km.
A total 107 separate drill samples and six pit samples will undergo sepiolite characterisation at Tolsa’s laboratory in Spain.
Subsidiary Tolsa USA is managing and funding the programme for an option to acquire Pioche for US$1.4 million, exercisable by 28 December 2024.
Future payments to Sunrise are at a 3% revenue-based royalty on production.