Nevada Sunrise Begins Geophysical Survey Over New Lithium Discovery at the Gemini Lithium Project, Nevada
Nevada Sunrise Begins Geophysical Survey
Over New Lithium Discovery at the Gemini
Lithium Project, Nevada
VANCOUVER, BC
,
May 12, 2022
/CNW/ -
Nevada Sunrise Gold Corp.
("Nevada Sunrise", or the
"Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that a geophysical survey has
commenced at its 100%-owned Gemini Lithium Project ("Gemini"), located in the Lida Valley basin in
Esmeralda County, Nevada
. The time-domain electromagnetic ("TDEM") survey is planned to
expand the scope of geophysical surveys carried out by the Company in 2016. Conductive zones
detected in the 2016 surveys were targeted in the Company's drilling program in March and
April
2022
, which intersected the following mineralized zones (see Nevada Sunrise news release dated
April 28, 2022
):
Borehole
GEM22-01
: weighted-average of
1,203.41 parts per million ("ppm") lithium over
580 feet
(176.83 metres) from 320 to 900 feet (97.56 to 274.39 metres), including
1,578.19
ppm lithium over 300 feet
(91.46 metres) from 480 to 780 feet (146.34 to 237.8 metres);
Borehole
GEM22-02
: weighted-average of
775.9 ppm lithium over 130 feet
(39.63 metres)
from 390 to 520 feet
(118.90 to 158.54 metres), including
1,133.1 ppm lithium over 40 feet
(12.20 metres) from 480 to 520 feet (146.34 to 158.54 metres). The analytical results for an
additional 131 samples from GEM22-02 are still pending.
2022 Geophysical Program
Fig. 1:
Gemini Lithium Project 2022 TDEM Survey Plan (CNW Group/Nevada Sunrise Gold
Corporation)
The 2022 surveys are designed to outline the possible lateral extent of the conductive, lithium-
bearing clay layers within a historical gravity low that were intersected in drillholes GEM22-01 and
GEM22-02. A total of 13.0 line kilometres are planned in three new survey lines as shown in Figure
1.
The TDEM moving loop survey will employ 400 metre by 400 metre loops to collect data along new
survey lines parallel to the 2016 survey lines, which had detected a highly-conductive layer (see
Figure 2 below). At present, the northern and western limits of the conductive clay layer at Gemini
are not well-defined and the 2022 survey results are anticipated to add to the Company's geological
knowledge of the conductive zones. Results from the TDEM survey are expected during
May 2022
and based on those results, Nevada Sunrise plans to submit an amended drilling plan to the Bureau
of Land Management ("BLM") for the permitting of new drill targets at Gemini.
Fig. 2: Gemini Lithium Project Conductive Zone with 2022 Drillholes and Lithium Values (CNW
Group/Nevada Sunrise Gold Corporation)
About Gemini
Gemini consists of 407 unpatented placer and lode claims located in the western Lida Valley,
Esmeralda County
, approximately 6 miles (10 kilometres) east of the town of Lida,
Nevada
. Nevada
Sunrise expanded the size of the Project by staking 80 additional unpatented placer claims and 288
new unpatented lode claims in the spring of 2022. Gemini is situated adjacent to the Gold Point
Solar Energy Zone, a BLM land reserve set aside for solar and wind power generation projects until
2033. Drill pads and access roads are in place at Gemini with an active drilling permit.
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. 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.
Nevada Sunrise drilled two reverse circulation ("RC") boreholes for a total of 2,020 feet (615.85
metres) in its maiden drilling program at Gemini in March and
April 2022
. The initial results represent
a new discovery of lithium-bearing sediments in the western Lida Valley, which has not been
historically drill tested for lithium mineralization. The initial analytical results from boreholes GEM22-
01 and GEM22-02 suggest that the lithium-bearing clay layers at Gemini may be widespread.
Additional drilling is planned following receipt of an amendment to the current BLM drilling permit,
which will be required to cover the Company's newly-expanded land position.
For further information on Gemini, including location maps and photos
click here
Sampling and Analytical QA/QC and Statement of Qualified Person
The results of geochemical analysis on sediment samples described in this news release were
shipped in March and
April 2022
to American Assay Laboratories and ALS Group
USA
("ALS") and
were analyzed utilizing a multi-element ICP-MS 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 spectrometry 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 gold, copper, cobalt and lithium exploration projects
located in the
State of Nevada, USA
.
The Company's key gold asset is a 20.01% interest at the Kinsley Mountain Gold Project ("Kinsley
Mountain") near
Wendover, NV.
Kinsley Mountain
is a joint venture with Copaur Minerals Inc.
("Copaur", TSXV:CPAU), following the completion of a plan of arrangement between Copaur and the
Company's former joint venture partner, New Placer Dome Gold Corp.
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 Au (2.44 million tonnes), at cut-off grades ranging
from 0.2 to 2.0 g/t Au
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.
(TSXV: GEMC) holding an 85% participating interest.
Nevada Sunrise owns 100% interests in the Gemini and
Jackson Wash
lithium projects, both of
which are located in
Esmeralda County, NV.
The Company owns Nevada water right Permit 86863,
located in the Lida Valley basin, near Lida, 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 Company's 2022 exploration plans 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 Three Months Ended
December 31
, 2021, 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. 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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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 Gold Corporation
CNW 07:30e 12-MAY-22