Nevada Sunrise Announces 2023 Exploration Program Plans at the Kinsley Mountain Gold Project, Nevada
Nevada Sunrise Announces 2023 Exploration
Program Plans at the Kinsley Mountain Gold
Project, Nevada
VANCOUVER, BC
,
May 16, 2023
/CNW/ -
Nevada Sunrise Metals Corp. ("Nevada Sunrise",
or
the "
Company
") (TSXV: NEV) (OTC: NVSGF) is pleased to report that its joint venture partner,
Copaur Minerals Inc. ("
Copaur
") (TSXV: CPAU) has finalized plans for the 2023 drilling program at
the Kinsley Mountain Gold Project ("Kinsley Mountain") located near
Wendover, Nevada
. The 2023
exploration plan calls for a combined 3,500 metres (11,480 feet) of reverse circulation ("RC") and
diamond drilling. Nevada Sunrise holds a 20.01% interest in the Kinsley Mountain joint venture, with
Copaur, as operator, holding a 79.99% interest.
Kinsley Mountain hosts current indicated mineral resources comprising a National Instrument 43-101
compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95
million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at
cut-off grades ranging from 0.2 to 2.0 g/t Au
1
.
Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret
Canyon Shale at the Western Flank Zone ("WFZ"). The Kinsley Mountain property hosts a historical
past-producing mine that yielded 138,000 ounces of near-surface, open pit oxide gold mined by
Alta
Gold
between 1995-1999 (Figure 1).
Figure 1. Kinsley Mountain Gold Project Cross Section Through Mine Trend (Looking northeast)
(CNW Group/Nevada Sunrise Metals Corporation)
The 2023 Kinsley Mountain drill program is planned to consist of up to 2,300 metres (7,544 feet) of
RC drilling and 1,200 metres (3,936 feet) of diamond core drilling for:
Resource infill drilling of the high-grade gold WFZ (2 core holes planned for 700 metres, or
2,296 feet);
Near surface oxide-gold resource drilling, for expansion and delineation at the Main Pit North
Oxide and Secret Spot targets (19 RC holes planned for 2,300 metres, or 7,544 feet);
Testing of a new IP/chargeability anomaly located between the WFZ and Upper Ridge Pit area
is planned (1 core hole for 500 metres, or 1,640 feet - see Figure 2).
Figure 2. Kinsley Mountain 2023 Planned RC and Diamond Drilling (CNW Group/Nevada Sunrise
Metals Corporation)
The planned 2023 drilling is designed to follow up on the highly successful 2020 drilling campaign,
which consisted of 49 holes totaling 17,970 metres (58,957 feet), the results of which underscored
the resource expansion potential that remains at WFZ, Main Pit North Oxide, and the Secret Spot
targets, with highlights including
2
:
1. Western Flank resource drilling
:
10.22 g/t gold over 6.1 metres (20 feet) within a broader zone grading 2.63 g/t gold (sulphide)
over 38.10 metres (124.97 feet) in KMR20-017;
15.1 g/t gold (sulphide) over 7.6 metres (24.93 feet), including 24.1 g/t gold (sulphide) over 4.6
metres (15.1 feet) Lower Zone, 9.08 g/t gold (sulphide) over 6.1 metres (20 feet) Upper Zone
in KMR20-026.
2. M
ain Pit North Oxide Target yield
ed
a
high-grade intercept
of
:
9.83 g/t gold over 7.6 metres (24.93 feet) of high-grade, shallow oxide mineralization in hole
KMR20-30;
3. New
near-
surface oxide
d
iscovery at the Secret Spot, including:
1.77 g/t gold over 25.3 metres (82.98 feet) in a near-surface mineralized intersection in hole
KMD20-
007B
.
1
Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin and Gary
L. Simmons, and filed under New Placer Dome Gold Corp.'s issuer profile on SEDAR (
www.sedar.com
).
2
True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by
Robert M. Allender, Jr.
, CPG, RG, SME and a Qualified Person for Nevada Sunrise as
defined in National Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
. Mr. Allender
has examined the information regarding the 2023 exploration program and budget provided by
Copaur, which includes his review of the historical sampling, analytical and test data and procedures
underlying the information and opinions contained herein.
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 lithium, gold, copper, and cobalt exploration projects
located in the
State of Nevada, USA
.
Nevada Sunrise owns 100% interests in the Gemini,
Jackson Wash
and Badlands lithium projects, all
of which are located in the Lida Valley in
Esmeralda County, NV.
The Company owns Nevada water
right Permit 86863, also located in the Lida Valley basin, near Lida, NV.
The Company's key gold asset is a 20.01% interest in a joint venture at the Kinsley Mountain Gold
Project near
Wendover, NV
with Copaur Minerals Inc.
Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located
approximately 48 kilometers (30 miles) southeast of
Winnemucca, NV.
The Company owns a 15%
interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located
approximately 150 kilometers (100 miles) east of
Reno, NV
, with Global Energy Metals Corp.
currently holding an 85% participating interest.
FORWARD LOOKING STATEMENTS
This release may contain forward
–
looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and
include disclosure of anticipated exploration activities. Although the Company believes the
expectations expressed in such forward
–
looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Forward
–
looking statements are based
on the beliefs, estimates and opinions of the Company's management on the date such statements
were made. The Company expressly disclaims any intention or obligation to update or revise any
forward
–
looking statements whether as a result of new information, future events or otherwise.
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
property, information received from Copaur Minerals 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 Copaur Minerals 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
, 2022, 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.
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 or
accuracy of this release.
SOURCE
Nevada Sunrise Metals Corporation
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For further information:
Warren Stanyer, President and Chief Executive Officer, email:
[email protected], Telephone: (604) 428-8028 or Jason Powell, Corporate
Communications, email: [email protected], Telephone: (604) 779-6497
CO: Nevada Sunrise Metals Corporation
CNW 07:30e 16-MAY-23