Nevada Sunrise Begins 2023 Drilling at the Gemini Lithium Project, Nevada
Nevada Sunrise Begins 2023 Drilling at the
Gemini Lithium Project, Nevada
VANCOUVER, BC
,
Jan. 17, 2023
/CNW/ -
Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the
"Company", formerly Nevada Sunrise Gold Corp.) (TSXV: NEV) (OTC: NVSGF) is pleased to
announce that the Phase 2 drilling program has re-commenced at its 100%-owned Gemini Lithium
Project ("Gemini") located in the Lida Valley basin in
Esmeralda County, Nevada
. The first hole of
the Phase 2 program,
GEM22-03
, was completed in
December 2022
and drilling of the second
Phase 2 hole began in the second week of
January 2023
. Borehole
GEM23-04
is targeting a strong
conductive anomaly approximately 0.73 miles (1.17 kilometres) northwest of hole GEM22-02 and is
planned to test the deepest part of the Gemini basin to an estimated depth of 2,000 feet (609.75
metres).
Gemini Lithium Project:
Phase 2 Drilling Locations (CNW Group/Nevada Sunrise Metals Corporation)
Borehole
GEM22-03
was completed at a location approximately 0.47 miles (0.76 kilometres) north
of GEM22-01 and 1.14 miles (1.83 kilometres) north of GEM22-02. Basement rock was intersected
at 1,565 feet (477.3 metres) and the hole was stopped at 1,620 feet (494 metres) in a sedimentary
rock unit interpreted as the Emigrant Formation. This is the first known contact to basement in the
Gemini sedimentary basin, which greatly assists in the geological understanding of the Project.
Sampling of the lithium-bearing green clay layer began at 285 feet (86.89 metres) after the drill
passed through the surficial alluvium (sand and gravel) layer and a total of 186 sediment samples
were collected to the end of hole. An initial geochemical assessment of the green clay layer
consisting of 22 sediment samples to a depth of 810 feet (246.95 metres) was submitted on a rush
basis in late
November 2022
to American Assay Laboratories in
Sparks, Nevada
(see Nevada
Sunrise news release dated
December 6, 2022
), which produced results ranging from 615 parts per
million ("ppm") lithium to 1,450 ppm lithium. The remainder of the sediment samples from hole
GEM22-03 were submitted to ALS Group
USA
in
Reno, Nevada
. Thirty-nine groundwater samples
were also submitted to Western Environmental Laboratories in
Reno, Nevada
for analysis. The final
results of the sediment and water analyses to the end of hole GEM22-03 will be released following
their receipt, compilation and interpretation.
GEM23-04 Drilling in Progress, January 2023 (CNW Group/Nevada Sunrise Metals Corporation)
About the 2022-2023 Gemini Phase 2 Drilling Program
Nevada Sunrise drilled two reverse circulation ("RC") boreholes for a total of 2,020 feet (615.85
metres) in its Phase 1 program at Gemini in March and
April 2022
. The drill sites were located within
a defined gravity low that hosts conductive layers detected by historical ground time domain
electromagnetic ("TDEM") surveys. The results from the first two holes at Gemini represented a new
discovery of lithium-bearing sediments and a lithium-bearing brine in the western Lida Valley, which
has not been historically drill tested for lithium mineralization (see Nevada Sunrise news release
dated
June 6, 2022
).
The Company's Phase 2 drilling program began in the fall of 2022 and is designed to expand the
footprint of the lithium mineralization encountered to date. High-grade lithium-bearing sediments have
been intersected over a strike length of 1.14 miles (1.83 kilometres) and the current geophysical
model suggests the presence of many highly-prospective drill targets at Gemini. Drill pads and
access roads are in place at Gemini with an active drilling permit for up to 12 holes, good until
July
2024
.
For further information on Gemini, including location maps and photos
click here.
About Gemini
Gemini consists of 582 unpatented placer and lode claims (covering about nine square miles)
located in the western Lida Valley,
Esmeralda County
, approximately 6 miles (10 kilometres) east of
the town of Lida,
Nevada
. The Lida Valley is a flat, arid basin with a similar geological setting to the
better-known
Clayton Valley
basin where Albermarle Corporation operates the Silver Peak lithium
brine mine, which has operated continuously since 1966.
Gemini is situated adjacent to the Gold Point Solar Energy Zone, a Bureau of Land Management
land reserve set aside for solar and wind power generation projects until 2033. Exploration at
Gemini is complemented by the Company's 80.09 acre/feet/year water right, a pre-requisite for the
exploration and development of lithium brine projects in
Nevada
. Under the laws of
Nevada
, water
cannot be pumped from a subterranean source without a valid water permit.
Sampling and Analytical QA/QC and Statement of Qualified Person
The analytical results of sediment samples described in this new release were submitted to
American Assay Laboratories in
Sparks, Nevada
, and analyzed utilizing a multi-element ICP-AES
method. Specifically, the analytical method involves aqua regia digestion of the sample followed by
the inductively coupled plasma (ICP) technique to ionize the sample, and atomic emission
spectrometry (AES) to determine elemental concentrations. Duplicates, field blanks, and certified
reference standards were inserted at regular intervals in the sample stream to ensure accuracy of
the analytical method.
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
.
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 and
Jackson Wash
lithium projects, both 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 with Copaur Minerals Inc. at
the Kinsley Mountain Gold Project near
Wendover, NV.
Kinsley Mountain
is a Carlin-style gold
project hosting 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 gold (2.44 million tonnes), at
cut-off grades ranging from 0.2 to 2.0 g/t gold
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, Ph.D., and
Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (
www.sedar.com
).
Nevada Sunrise has 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.
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 Company's 2023 exploration plans and
results at the Gemini Lithium Project; reliance on technical information provided by third parties on
any of our exploration properties; 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; labor disputes and other risks of the mining industry; delays due to pandemic; 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
, 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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%SEDAR: 00026824E
For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, email: [email protected]; Jason Powell, Corporate Communications,
Telephone: (604) 779-6497, email: [email protected]
CO: Nevada Sunrise Metals Corporation
CNW 07:30e 17-JAN-23