Nevada Sunrise Begins Maiden Drilling Program at the Gemini Lithium Project, Nevada
Nevada Sunrise Begins Maiden Drilling
Program at the Gemini Lithium Project,
Nevada
TSXV: NEV
VANCOUVER, BC
,
March 15, 2022
/CNW/ -
Nevada Sunrise Gold Corp. ("Nevada Sunrise",
or
the "
Company
") (TSXV: NEV) is pleased to announce that an inaugural drilling program has
commenced at its 100%-owned Gemini Lithium Project ("Gemini", or the "Project"), located in the
Lida Valley basin in
Esmeralda County, Nevada
.
Electromagnetic Survey Results Showing Conductive Zones and Drill Holes at Gemini (CNW
Group/Nevada Sunrise Gold Corporation)
2022 Drilling Program
Nevada Sunrise plans up to 3,500 feet (1,067 metres) of reverse circulation drilling on untested
geophysical anomalies identified by ground gravity and electromagnetic surveys. The first hole of
the 2020 program is GEM22-01, as shown in the figure below, which is targeting the largest
conductive anomaly. The exploration objectives for the Gemini West target are twofold: testing the
conductive zones for lithium brines at depth and analyzing for lithium-in-sediments, which has never
been tested in the western Lida Valley. Drilling is anticipated to continue until the end of
March 2022
.
About Gemini
Gemini consists of 119 unpatented placer claims totaling 2,380 acres (963 hectares) 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 new unpatented
claims in
March 2022
. 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.
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.
For further information on Gemini, including location maps and photos
click here
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
.
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 in a joint venture with New Placer Dome Gold
Corp. (TSXV: NGLD) 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 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 Gemini Lithium Project 2022 exploration
plans; 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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%SEDAR: 00026824E
For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 684-9365, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 15-MAR-22