Nevada Sunrise and Liberty Gold intersect 5.30 grams/tonne gold over 29 metres including 7.84 grams/tonne gold over 16.8 metres at Kinsley Mountain in eastern Nevada
Nevada Sunrise and Liberty Gold intersect 5.30 grams/tonne gold over 29 metres
including 7.84 grams/tonne gold over 16.8 metres at Kinsley Mountain in eastern
Nevada
TSX Venture Exchange: NEV
VANCOUVER, July 13, 2017 /CNW/ - British Columbia - Nevada Sunrise Gold Corporation ("Nevada
Sunrise" or the "Company") (TSXV: NEV) is pleased to announce it has received results from Liberty
Gold Corp. ("Liberty Gold", TSX: LGD, formerly Pilot Gold Inc.) from a 4-hole reverse circulation ("RC ")
drilling program carried out at the Western Flank East Extension Target at the Kinsley Mountain Project
("Kinsley Mountain", or the "Project") in eastern Nevada. The 2017 drilling program is part of an ong oing
effort to test new targets and expand sparsely-drilled targets at Kinsley Mountain, which is a joint venture
between Liberty Gold and Nevada Sunrise, 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. Liberty Gold is operator
of the Project.
Highlights from the Western Flank East Extension Ta rget include:
• From the Secret Canyon Shale Zone (lower host):
• 5.30 grams/tonne ("g/t") gold over 29.0 metres including 7.84 g/t gold over 16.8 metres in
hole PK221
• 3.68 g/t gold over 3.0 metres in hole PK224
• From the Dunderberg Shale Zone (upper host):
• 12.4 g/t gold over 4.6 metres including 35.1 g/t gold over 1.5 m in PK221
• 6.84 g/t gold over 7.6 m including 12.8 g/t gold over 3.0 metres in PK224
The Western Flank East Extension Target is located immediately east of the Western Flank deposit,
which was discovered in late 2013. The sulphide res ource at the Western Flank deposit, hosted in the
Secret Canyon Shale, is currently estimated at 284,000 Indicated ounces of gold grading 6.04 g/t, and
39,000 Inferred ounces grading 2.41 g/t gold (see Nevada Sunrise news release dated December 17,
2015), and the Kinsley Mountain Technical Report available on the Company's website
at www.nevadasunrise.ca or under the Company's SEDAR profile at www.sedar.com ).
The Western Flank East Extension Target had yielded several high-grade intercepts in previous drilling,
including:
• 6.15 g/t gold over 7.6 metres (Secret Canyon Shale host) in hole PK200;
• 2.34 g/t gold over 9.1 metres (Dunderberg Shale host) in hole PK208;
• 3.46 g/t gold over 18.3 metres including 13.7 g/t gold over 3.0 metres (Secret Canyon Shale host)
in hole PK208, and
• 2.95 g/t gold over 13.7 metres (Secret Canyon Shale host) in hole PK210.
The new drill holes link gold mineralization in the Western Flank deposit to drill holes PK208 and PK210,
150 metres to the east. Results provide impetus for further drilling in this sparsely tested area, which
remains open to infill and extension in all directions for both stratigraphic horizons.
Three additional holes were drilled in the current program. One drill hole tested the Dunderberg Shale
and returned 1.37 g/t Au over 3.0 metres, but was lost above the Secret Canyon Shale target. Another
hole tested stratigraphy to the southeast of the historic mine. It did not return a mineralized intercept, but
it did confirm the presence of the prospective Secret Canyon Shale at shallow depth.
For a map of drill collars and traces, and a complete table of drill results for the current holes, please visit
the Company's website at: http://www.nevadasunrise.ca/projects/kinsley-mountain/
About the Western Flank Target Area
The Western Flank deposit was discovered in late 2013 in the Secret Canyon Shale Formation, which lies
below the Dunderberg Shale, host to shallow oxide r esources and past-production at Kinsley Mountain,
and was previously unrecognized as a potential host to mineralization (see Nevada Sunrise news release
dated November 18, 2013). In late 2015, Liberty Gold released a resource estimate for the Kinsley
Mountain deposit, including a separate estimation for the Western Flank Zone (see Nevada Sunrise news
release dated November 5, 2015 ). Metallurgical testing of sulphide material from the Western Flank Zone
returned excellent recoveries and concentrate grades, suggesting that the gold may be amenable to
extraction using low capital cost and conventional flotation methods (see Nevada Sunrise news release
dated January 19, 2015).
Drill composites were calculated using a cut-off of 0.20 g/t gold. Drill intersections are reported as drilled
thicknesses. True widths of the mineralized intervals vary between 30 and 100 percent of the reported
lengths due to varying drill hole orientations, but are typically in the range of 60 to 80 percent of true
width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram ( 1
assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetr ic
finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any
samples assaying over 0.200 ppm an additional cyani de leach analysis is done where the sample is
treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then
centrifuged and analyzed by AAS. Metallic screen techniques may be employed where the presence of
coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and
screened. Two splits of the fine fraction are assayed, as well as all material that does not pass thro ugh
the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse an d
fine fractions. QA/QC for all drill samples consists of the insertion and continual monitoring of nume rous
standards and blanks into the sample stream, and the collection of duplicate samples at random intervals
within each batch.
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.
Further information on Kinsley Mountain is available in the 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, available on the Company's website
at www.nevadasunrise.ca or under the Company's SEDAR profile at www.sedar.com .
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 gold and lithium mineral exploration projects in the
State of Nevada, USA.
The Company's two key gold assets include a 100% in terest in the Golden Arrow project near Tonopah,
and a 21% interest in a joint venture with Liberty Gold (formerly Pilot Gold Inc.) at Kinsley Mountain, with
each of the properties subject to certain production royalties.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include
options to earn 100% interests in the Neptune (Resolve Ventures, TSXV: RSV owns a 25% interest in
Neptune), Clayton Northeast and Triton projects, and a 100% interest in the Aquarius project, all located
in the Clayton Valley area. The Company also holds options to earn 100% interests in the Jackson Wash
and Atlantis lithium projects, and holds a 3% gross overriding royalty interest in in the Gemini lithium
project, each located in playas proximal to the Clayton Valley. The Company has optioned six of its
Nevada lithium projects to Advantage Lithium Corp., (TSXV: AAL), who has earned a 51% interest in
Clayton Northeast, Triton, Aquarius, and Jackson Wa sh projects, and a 50% interest in the Gemini
project. The Atlantis project is currently under option to American Lithium Corp. (TSXV: LI).
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 mineraliza tion, 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 fa ctors 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 work
at the Kinsley Mountain property, reliance on technical information provided by third parties on any of our
exploration properties, including access to historical information on the Kinsley Mountain property, c urrent
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;
failure of Nevada Sunrise 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 Six Months ended March 31, 2017, 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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%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 13-JUL-17