Nevada Sunrise Announces Final Reverse Circulation Drilling Results from the Kinsley Mountain Gold Project, Nevada
Nevada Sunrise Announces Final Reverse
Circulation Drilling Results from the Kinsley
Mountain Gold Project, Nevada
VANCOUVER, BC
,
Nov. 15, 2023
/CNW/ -
Nevada Sunrise Metals Corp. ("Nevada Sunrise",
or
the "
Company
") (TSXV: NEV) (OTC: NVSGF) announced today that its joint venture partner,
CopAur Minerals Inc., has reported the results from the final three reverse circulation holes
completed during 2023 exploration at the Kinsley Mountain Gold Project ("Kinsley Mountain" or the
"Project") in
Elko County, Nevada
.
Resource expansion drilling during 2023 at the Main Pit North zone has intersected oxide gold
intercepts higher than the resource cut-off of 0.2 grams per tonne ("g/t") gold. The current
results (see Table 1 and Figure 1 below), in conjunction with the previous 2023 results (see Nevada
Sunrise news releases dated
October 2
, 2023
and
October
5
, 2023
) and historical drilling by
previous operators suggest an emerging zone of mineralization at Main Pit North extending outside
of the current resource pit shell. These new intercepts have not been included in any resource
calculations.
Table 1. Kinsley Mountain Final RC Drill Holes: Gold Intercepts
Hole ID
Zone
From
To
Interval
(m)*
Gold
Value
(g/t)*
NaCN
Soluble
Gold
Recovery
(dip/azimuth)
(m)
(m)
KMR23-05 (-83/160)
Main Pit
North
114.3
121.9
7.6
0.42
78 %
KMR23-07 (-88/017)
Main Pit
North
129.6
143.3
13.7
0.51
56 %
* True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths
.
RC drill hole KMR23-06 at Main Pit North experienced poor recovery, leaving insufficient material for
sampling.
Summary of the 2023 Exploration Program at Kinsley Mountain
A total of seven (7) RC drill holes and three (3) diamond drill holes comprising 2,285 metres (7,495
feet) were completed in 2023 at the high-grade Western Flank Zone, the Main Pit North, and the
new
Kinsley Ridge
target (see Figure 1 below). All samples, including QA/QC samples, were
shipped to ALS Global in
North Vancouver, British Columbia
, Canada for multi-element analysis and
fire assay for gold. Results from the remaining holes of the 2023 program will be released following
their receipt and interpretation by CopAur, operator of the Project.
Figure 1. Main Pit North – Holes KMR23-05 and KMR23-07 Cross Section (looking north) (CNW
Group/Nevada Sunrise Metals Corporation)
Methodology and QA/QC
Assaying was performed by ALS Global ("ALS"), of
Vancouver, Canada
. ALS is an ISO-IEC
17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of CopAur,
Nevada Sunrise, and their respective Qualified Persons. Drill core and RC drill samples were subject
to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85%
passing 75 microns. Gold determination was via standard 30-gram fire-assay analysis with atomic
absorption spectroscopy ("AAS") finish, in addition to 51 element ICP-MS. Samples returning
greater than 10 g/t gold are subject to gravimetric finish. Gold values returning greater than 0.1 g/t
gold are also subject to leach analysis 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.
CopAur reports that it follows industry standard procedures for the work carried out on the Project,
with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples
were inserted into the sample sequence sent to the laboratory for analysis. CopAur states it
detected no significant QA/QC issues during its review of the 2023 data, and reports that it is not
aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or
reliability of the data referred to herein.
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, who is a Qualified Person for Nevada Sunrise
as defined in National Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
.
About Kinsley Mountain
Kinsley Mountain hosts a historic past-producing mine that yielded 138,000 ounces of near-surface,
open-pit oxide gold mined by Alta Gold Company between 1995-1999.
The Project 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 gold
(4.95 million tonnes)
, and
117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44
million tonnes)
, at cut-off grades ranging from 0.2 to 2.0 g/t gold
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
1
.
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
).
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, and copper 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 its 20.01% interest in a joint venture with CopAur Minerals Inc. at
the
Kinsley Mountain Gold Project
near
Wendover
, NV. Due to its current focus on lithium
exploration and development in
Nevada
, the Company has elected not to contribute to the 2023
exploration program at Kinsley Mountain and expects to incur dilution of its participating interest in
the joint venture to an approximate 19.0% interest.
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.
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 Nine Months ended
June 30, 2023
,
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 15-NOV-23