Nevada Sunrise and Advantage Lithium intersect 426.72 metres averaging 243.44 mg/l lithium in brines at Clayton Northeast Project, Nevada
Nevada Sunrise and Advantage Lithium intersect 426.72 metres averaging 243.44
mg/l lithium in brines at Clayton Northeast Project, Nevada
TSXV: NEV
VANCOUVER, March 1, 2017 /CNW/ - Nevada Sunrise Gol d Corporation ("Nevada Sunrise" or
the "Company") (TSXV: NEV) and its exploration partner, Advantage Lithium Corp. ("Advantage Lithium")
(TSXV: AAL) are pleased to announce that the first borehole of the 2017 drilling campaign at their Cla yton
Northeast property ("Clayton NE, or the "Property") in Clayton Valley, Nevada, has intersected lithium -
bearing brines. This follows successful results from the first three boreholes drilled in 2016 (see Nevada
Sunrise news releases dated November 1, 2016, Decem ber 5, 2016, and December 21, 2016). Hole
CNE-17-04 , drilled to a total depth of 609.6 metres (2,000 feet), has intersected multiple aquifer
formations, including 426.72 metres of brine-producing strata averaging 2 43.44 milligrams per litre
("mg/l") lithium between a depth of 140.21 to 609.6 metres, including a higher-grade interval
averaging 274.6 mg/l lithium over 79.2 metres from a depth of 530.35 metres to 609.6 metres.
"Exploration drilling at Clayton NE continues to intersect classic Clayton Valley aquifer systems cont aining
lithium," said Warren Stanyer, President and CEO of Nevada Sunrise. "Every successful hole brings us
closer to our goal, and that of our partner, Advantage Lithium, of producing a lithium brine resource
estimate for Clayton NE."
The Phase 2 drilling program is comprised of a total of approximately 1,800 metres (5,905 feet) in thr ee
reverse circulation ("RC") holes expected to test depths of a minimum 600 metres each. Using a similar
approach to the successful Phase 1 program that hit wide intercepts of lithium brine with strong brine flow
rates, these new holes are focused on high-priority conductive horizons identified and imaged in the 2 016
3-D resistivity survey and confirmed by drilling to be lithium-bearing brines. All four holes drilled to date
are adjacent to Silver Peak lithium brine field operation, North America's only producing lithium mine ,
operated by Albemarle Corporation ("Albemarle") (NY SE: ALB) in close proximity to several of their
production wells.
2017 Drilling Program Highlights
• Continued 100% Drilling Success Rate with Strong Li thium Brine Results . Hole CNE-17-04 has
intersected multiple aquifer formations:
• Total composite of 426.72m of brine producing stra ta at an average grade of 243.44 mg/l
lithium, including:
• 274.6 mg/l lithium over 79.2 metres (530.35m to 60 9.6m)
• Extension of mineralized brine trend to 4.46km. The highly-successful Phase 1 program defined
a 3.43km mineralized trend. The results of Phase 2 drilling to date has extended this trend length to
4.46km.
• Drilling deeper into potentially untested aquifers. Phase 2 holes are targeting possible deeper
aquifers that may not have been intersected by previous drilling in the Clayton Valley. Previous hole
CNE-16-03, from the Phase 1 program, was one of the deepest boreholes drilled in the Clayton
Valley and, based on results obtained, may have hit a previously untested aquifer.
• Permits/waivers obtained for future development of a lithium brine resource and wells. In
November 2016, waivers were received from the Nevad a Division of Water Resources for 5 of the 6
permitted holes, which allows for reaming a borehole to a larger diameter well, pump testing, and
flow rate determination in order to provide the necessary technical information for development of an
initial lithium brine resource at Clayton NE.
CNE-17-04 – Technical Details
CNE-17-04 was completed to a depth of 609.6 metres (2,000 feet), intersecting the base of the Clayton
Valley salar sedimentary basin at 579.12 metres (1,885 feet). Drilling has intersected typical Clayton
Valley strata consisting of alternating layers of gravel, volcanic ash and clay as well as units consisting of
carbonate deposits and other evaporites. A total of 80 grab groundwater samples were collected as
brine-bearing formations were encountered. Table 1 presents a compiled summary of the depths of the
aquifer systems with brine interval thickness and associated average lithium grades and TDS
concentrations. Anomalous lithium results with average concentration of 243.44 mg/l were obtained fro m
six (6) discrete brine-bearing formations intersected over a 469.39 metre section (from 140.21 to 609. 6
metres) within the Salt Aquifer, Main Ash Aquifer, Tufa Aquifer, Lower Aquifer System, Lower Gravel
Aquifer, and a possible fractured bedrock aquifer.
Table 1: Results of Brine Samples for CNE-17-04
Drill
Hole
Aquifer
System
Interval (m) Total Dissolved
Solids (TDS) mg/l
Lithium
Range (mg/l)
Lithium
Average
Grade (mg/l) From To Width
CNE -17 -04 Salt Aquifer System - A 140.21 146.30 6.10 230,000 N/A 182.00
Salt Aquifer System - B 152.40 158.50 6.10 255,000 N/A 238.00
Main Ash - A 182.88 188.98 6.10 310,000 N/A 310.00
Main Ash - B 195.07 201.17 6.10 175,000 N/A 177.00
Tufa Aquifer 201.17 219.46 18.29 114,000 - 183,000 63 - 105 89.17
Lower Aquifer System - A 219.46 249.94 30.48 118,200 - 154,000 194 - 301 266.80
Lower Aquifer System - B 256.03 469.39 213.36 161,000 - 234,000 162 - 274 242.29
Lower Gravel Aquifer 469.39 579.12 109.73 200,000 - 268,000 223 - 283 260.11
Bedrock 579.12 609.60 30.48 219,000 - 242,000 269 - 286 274.00
Within this section, a 24.38 metre interval composed of compacted, confining clay was intersected from
depth of 158.50 to 182.88 metres. Water was not produced from this unit. This zone is not included in the
calculation of total average lithium concentrations. In addition, recoverable water was not present in three
6.1-metre intervals within this 469.39-metre section because of excessive fine-grained solids content. The
Salt Aquifer System contains two brine-bearing zones (A and B as shown in table 1) separated by an
unsampled zone from 146.30 to 152.40 metres. The Ma in Ash Aquifer contains two brine-bearing zones
(A and B as shown in Table 1) separated by an unsam pled zone from 188.98 to 195.07 metres. The
Lower Aquifer System contains one unsampled zone fr om 249.94 to 256.03 separating the aquifer into
two brine-bearing zones as shown in Table 1 (Lower Aquifer System – A and B). These three unsampled
zones are not included in the calculation of total average lithium concentrations for these aquifers.
The highest grade results were obtained in the Main Ash Aquifer with a peak concentration up to 310 mg /l
lithium (182.88 to 201.17 metres), and in the deeper Lower Gravel Aquifer, with a peak concentration u p
to 301 mg/l (219.46 to 225.55 metres). In addition to brine samples, drill cuttings were collected for each
1.5 metre interval and 87 samples have been submitt ed for analysis. Analytical results for the drill
cuttings are pending.
Clayton Valley Project Overview
• Clayton NE consists of 55 unpatented claims totali ng approximately 1,080 acres (437 hectares)
located in the Clayton Valley sedimentary salar and is contiguous to the eastern boundary of
Albemarle's Silver Peak property, North America's only lithium producer;
• O'Keefe Drilling, of Butte, Montana, has been reta ined for the Phase 2 program to drill by RC
equipment;
• Several of Albemarle's lithium brine production we lls are situated within approximately 100 metres
and less of the Clayton NE western claim boundary;
• Clayton NE is subject to an option earn-in agreeme nt where Advantage Lithium can earn up to a
70% interest in the Project after fulfilling CDN$3.0 million in exploration expenditures on a package
of five lithium properties optioned from Nevada Sunrise (for further details, see Nevada Sunrise
news release dated June 20, 2016);
• Nevada Sunrise is the project manager at Clayton N E on behalf of Advantage Lithium, the operator.
For further information about the Company's explora tion properties, please access the Nevada Sunrise
website at: http://www.nevadasunrise.ca/projects/nevadalithium/
Robert M. Allender, Jr., CPG, RG, SME is the Compan y's designated Qualified Person for this news
release within the meaning of National Instrument 43-101 and has reviewed and approved the technical
information contained herein.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration comp any with a strong technical team based in
Vancouver, BC, Canada, that holds interests in nine mineral exploration projects in the State of Nevada,
USA. Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include
options to earn a 75% interest in the Neptune project (Resolve Ventures Inc. (TSXV: RSV) owns a 25%
interest), a 100% interest in the Clayton Northeast project, and a 100% interest in the Aquarius Proje ct, all
located in the Clayton Valley area. The Company also holds options to earn 100% interests in the
Jackson Wash and Atlantis projects, and has a 50% p articipating interest in the Gemini project, each
located in playas proximal to the Clayton Valley. T he Company has recently optioned five of the Nevada
lithium projects to Advantage Lithium Corp. (TSXV: AAL), and the Atlantis project is currently under option
to American Lithium Corp. (TSXV: LI). The Salt Wells Lithium project, in the Carson Basin near Reno, is
currently the subject of due diligence by the Compa ny.
The Company's three key gold assets include a 21% interest in a joint venture with Pilot Gold Inc. (TSX:
PLG) at Kinsley Mountain near Wendover, a 100% inte rest in the Golden Arrow project near Tonopah,
and an option to earn a 100% interest in the Roulette gold property in the southeastern Carlin trend n ear
Ely, with each of the properties subject to certain production royalties.
FORWARD LOOKING STATEMENTS
All statements in this release, other than statements of historical fact, are "forward-looking information"
with respect to Nevada Sunrise Gold Corporation ("Nevada Sunrise") within the meaning of applicable
Canadian securities laws, including statements that address the properties transaction with Advantage
Lithium Corp., the successful transfer of Place of Use and Point of Diversion of water rights, proposed
exploration and development of our lithium exploration properties and the potential for estimation of
mineral resources. Forward-looking information is often, but not always, identified by the use of words
such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict", "potential",
"targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of
such words and phrases or state that certain actions, events or results "may", "should", "could", "would",
"might" or "will" be taken, occur or be achieved. These statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievement of
Nevada Sunrise to differ materially from those anticipated in such forward-looking information.
Such factors include, among others, risks related to the interpretation and actual results of historic al
exploration at its lithium properties, reliance on technical information provided by third parties on any of
our exploration properties, including access to historical information on its lithium properties, current
exploration and development activities; changes in project parameters as plans continue to be refined;
current economic conditions; future prices of commodities; possible variations in grade or recovery rates;
failure of equipment or processes to operate as ant icipated; the failure of contracted parties to perform;
labor disputes and other risks of the mining industry; delays in obtaining governmental approvals,
financing or in the completion of exploration, as well as those factors discussed in the section entitled
"Risk Factors" in the Company's Management Discussi on and Analysis for the Year Ended September
30, 2016, which is available under Company's SEDAR profile at www.sedar.com .
Although Nevada Sunrise has attempted to identify i mportant factors that could cause actual actions,
events or results to differ materially from those described in forward-looking information, there may be
other factors that cause actions, events or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate as actual results and future event s
could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intent ion
or obligation to update or revise any forward-looking information, whether as a result of new informat ion,
future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking
information.
Forward-looking statements are made as of the date hereof and accordingly are subject to change after
such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect the
potential impact of any non-recurring or other special items or of any dispositions, monetizations,
mergers, acquisitions, other business combinations or other transactions that may be announced or that
may occur after the date hereof. Forward-looking st atements are provided for the purpose of providing
information about management's current expectations and plans and allowing investors and others to get
a better understanding of our operating environment. Nevada Sunrise does not undertake to update any
forward-looking statements that are included in this document, except in accordance with applicable
securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsib ility for the adequacy of accuracy of this
release. The Securities of Nevada Sunrise Gold Corp oration have not been registered under the
United States Securities Act of 1933, as amended, a nd may not be offered or sold within the
United States or to the account or benefit of any U.S. person.
SOURCE Nevada Sunrise Gold Corporation
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For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 484-7143, Email: [email protected], Website:
www.nevadasunrise.ca
CO: Nevada Sunrise Gold Corporation
CNW 08:30e 01-MAR-17