By Joe Hoppe
Dawn Assets PLC mentioned Wednesday that Tolsa USA Inc. can pay $50,000 to proceed the choice to buy Dawn’s Pioche sepiolite undertaking in Nevada after optimistic outcomes from a trenching program.
The London-listed mining firm mentioned Tolsa’s October trenching program was a part of a method for additional analysis work of the Pioche undertaking. This system efficiently demonstrated the continuity of these sepiolite beds mapped on the floor, Dawn mentioned.
Tolsa is now planning a useful resource definition drilling program, additional industrial testing and feasibility research.
Tolsa should purchase the Pioche undertaking till December 2023 for $1.3 million and a unbroken 3% royalty fee.
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Write to Joe Hoppe at joseph.hoppe@wsj.com