IN BRIEF: Sunrise says Tolsa will not purchase Pioche project
27th Dec 2024 18:48
Sunrise Resources PLC - focused on industrial mineral projects in Nevada - Tolsa USA Inc says it will not exercise its option to purchase Sunrise's Pioche sepiolite project. However, Tolsa has "suggested it is open to discuss alternative arrangements for the project," Sunrise says. The option was granted in June 2022 and extended for an additional 12 months in December 2023. During negotiations, Tolsa cautioned it would "difficult to correlate specific sepiolite grades (and so values) between drill holes," Sunrise explains, despite large deposits of sepiolite clay having been identified by wide spaced drilling at the site. The company says it has not verified Tolsa's claim due to the lack of data it has provided. Read More