Nevada Sunrise and Liberty Gold commence drilling program at Kinsley Mountain Gold Project in Nevada
Nevada Sunrise and Liberty Gold commence drilling program at Kinsley Mountain
Gold Project in Nevada
TSX Venture Exchange: NEV
VANCOUVER, April 5, 2018 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) is pleased to announce that drilling has commenced at the Kinsley Mountain
Gold Project ("Kinsley Mountain" or the "Project"), located near Wendover in eastern Nevada, USA.
Kinsley Mountain is a joint venture between Liberty Gold Inc. ("Liberty Gold", formerly Pilot Gold Inc.)
(TSX: LGD) and the Company, with Liberty Gold holding a 79.1 percent interest, and Nevada Sunrise,
through a wholly-owned U.S. subsidiary, holding a 20.9 percent interest.
2018 Drilling at Kinsley Mountain
Nevada Sunrise and Liberty Gold approved the 2018 budget for Kinsley Mountain at US$560,000. Six
reverse circulation holes totaling approximately 2,250 metres (7,380 feet) are planned in three
prospective target areas:
Three holes are planned to test the eastern ext ension of the Western Flank gold deposit. Liberty
Gold, as operator, discovered the deposit in 2014 hosted by the Secret Canyon Shale and outlined a
sulphide resource estimate, using multiple cut-offs1, of 284,000 Indicated ounces of gold grading
6.04 grams per tonne ("g/t") and 39,000 Inferred ounces grading 2.41 g/t gold (see Nevada Sunrise
news release dated November 5, 2015).
Two holes are planned to the south of the Wester n Flank deposit, in the Anticline Target on the
south side of the main Kinsley NW fault.
A sixth hole is planned in the Ridge Pit zone, to test for gold mineralization at depth in the Secret
Canyon Shale. This hole will be angled to the northwest testing the southern extension of the
Anticline Target.
1 Cut-off grades assume an open-pit mining scenario, using a pit floor elevation generated using Whittle software, reasonable
assumptions for mining and milling costs, and a US$1,300/ounce gold price.
For maps showing the 2018 target areas, please access Nevada Sunrise's website at:
http://www.nevadasunrise.ca/projects/kinsley-mountain/
About Kinsley Mountain
Kinsley Mountain is located approximately 80 kilometres (50 miles) south of Wendover, Nevada, and
consists of 513 unpatented lode claims on U.S. Bureau of Land Management land plus 5 leased patents
totaling 4,160 hectares (10,280 acres). Kinsley Mountain hosts near-surface mineralization similar to
other Carlin-style, sediment-hosted gold systems, and hosts a past-producing mine with an extensive
exploration database and numerous untested gold targets.
Further information on Kinsley Mountain is available in the National Instrument 43-101 compliant
technical report entitled "Updated Technical Report and Estimated Mineral Resources for the Kinsley
Project, Elko and White Pine Counties, Nevada, U.S.A.", effective October 15, 2015, dated December 16,
2015 and prepared by Michael M. Gustin, CPG, Moira Smith, Ph.D., P.Geo., and Gary Simmons, B.Sc.
MMSA (the "Kinsley Technical Report"), available at www.nevadasunrise.ca/investors or under
the Company's SEDAR profile at www.sedar.com.
John R. Kerr, P. Eng., is the Company's designated Qualified Person within the meaning of National
Instrument 43-101 and has reviewed and approved the technical information contained in this news
release.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in
Vancouver, BC, Canada, that holds interests in gold, cobalt, copper and lithium exploration projects in the
State of Nevada, USA.
The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah,
currently the subject of a transaction with Emgold Mining Corporation (TSXV: EMR), and a 21% interest in
a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD) near Wendover, with each of the
properties subject to certain production royalties.
In November 2017, Nevada Sunrise announced an option to earn a 100% interest in the historic Lovelock
Cobalt Mine property, located approximately 100 miles (150 kilometers) east of Reno. In March 2018, the
Company announced options to earn 100% interests in the Treasure Box and Boyer Mine copper
properties, located approximately 3.6 miles (5.8 kilometers) southwest of the Lovelock Cobalt Mine.
Nevada Sunrise began acquisitions of Nevada lithium properties in 2015, which includes 100% interests
in the Neptune, Jackson Wash and Aquarius projects, and a 50% interest in the Gemini project (Eureka
Resources Inc. (TSXV: EUK) holds a 50% interest), and a 100% interest in the Atlantis project, currently
under option to American Lithium Corp. (TSXV: LI). For further information on other Nevada lithium
projects operated by the Company (Aquarius, Neptune, Jackson Wash and Gemini), including location
maps, please visit the Nevada Sunrise website at: "Projects – Nevada Lithium":
http://www.nevadasunrise.ca/projects/nevadalithium/
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 future mineral production, reserve potential,
exploration drilling, the future price of gold, potential quantity and/or grade of minerals, potential size of a
mineralized zone, potential expansion of mineralization, the timing and results of current or future mineral
resource estimates, or other study, proposed exploration and development of our exploration properties
and the 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 historical
production at Kinsley Mountain, reliance on technical information provided by third parties on any of our
exploration properties, including access to historical information on the Kinsley Mountain property as well
as specific historical data associated with drill results from the Kinsley Mountain property, information
from Liberty Gold Inc., 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 anticipated; the
failure of contracted parties to perform; failure of Nevada Sunrise and/or Liberty Gold Inc. to complete
anticipated work programs; 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 Discussion and Analysis for the
Three Months ended December 31, 2017, which is available under Company's SEDAR profile at
www.sedar.com
Although Nevada Sunrise has attempted to identify important 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 events
could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention
or obligation to update or revise any forward-looking information, whether as a result of new information,
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 statements 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 responsibility for the adequacy of accuracy of this
release. The Securities of Nevada Sunrise Gold Corporation have not been registered under the
United States Securities Act of 1933, as amended, and 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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%SEDAR: 00026824E
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 484-7143, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 08:30e 05-APR-18