Sunrise Resources plc’s option holder Tolsa USA Inc has received approval for a planned resource definition drill programme at the sepiolite project near Pioche in Nevada, USA.
OPEN PIT MINING
The US Bureau of Land Management has approved 24 drill holes, over a 2.5km by 2km area, scheduled to begin in mid-July.
A truck-mounted auger drill will drill holes to average depth of approximately 50ft.
Sunrise said that shallow drilling reflected the surface and near surface position of mapped and trenched sub-horizontal sepiolite beds, amenable to open pit mining.
Tolsa has an option to purchase the Pioche project for US$1.25 million no later than
28 December 2023.
If the Spanish subsidiary elects to exercise its option, Sunrise will retain 3% revenue royalty on production from the project.
ENTHUSIASM
“We are pleased to see the completion of this important permitting step in preparation for
Tolsa’s resource definition drilling programme and look forward to the results of drilling in due
course,” added executive chairman Patrick Cheetham.
“The Pioche sepiolite project has come a long way since our initial discovery thanks to Tolsa’s ongoing commitment and enthusiasm for the project.”