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NEVADA - Sunrise Resources Plc (AIM:SRES) announced Monday that its Hazen Project in Nevada has received Bureau of Land Management (BLM) approval for drill testing, according to a company press release.
The approval, dated September 8, triggers the start of a previously announced option period during which a large US-based company may purchase the project for $800,000.
In July, Sunrise had disclosed that the Hazen Project was under option for sale, but the option period was contingent upon receiving regulatory approval. With the BLM decision now secured, the three-month option period and any potential extensions will run from September 8.
The company did not provide additional details about the potential buyer beyond describing it as a "large US-based company" or specify its plans for the Nevada property should the sale proceed.
Sunrise Resources, which trades on London’s AIM market, is an exploration company with various mineral projects. The Hazen Project represents one of the company’s Nevada-based assets.
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