Nevada Sunrise Completes Phase 2 Drilling at the Gemini Lithium Project, Nevada
Nevada Sunrise Completes Phase 2 Drilling at
the Gemini Lithium Project, Nevada
VANCOUVER, BC
,
April 19, 2023
/CNW/ -
Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the
"Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that the Company has completed
its Phase 2 drilling program at its 100%-owned Gemini Lithium Project ("Gemini") located in the Lida
Valley basin in
Esmeralda County, Nevada
. Three holes were completed in Phase 2 for a total of
5,310 feet (1,618.9 metres), bringing the total number of holes drilled by the Company at Gemini to
five, totaling 7,330 feet (2,234.76 metres). The Gemini drilling program began in
March 2022
and
was successful in intersecting lithium mineralization in every hole, both in sediments and in
groundwater (see Nevada Sunrise news releases dated
May 18, 2022
,
June 6, 2022
,
February 7, 2023
and
March 28, 2023
).
Summary of Borehole GEM23-05
GEM23-05,
the final Phase 2 borehole, was completed to depth of 1,740 feet (530.49 metres) at a
location approximately 0.52 miles (0.83 kilometres) south of borehole GEM22-02 and 1.04 miles
(1.67 kilometres) southeast of borehole GEM23-04. After passing through Quaternary alluvium, the
borehole intersected green clay from 440 to 540 feet (134.15 metres to 164.63 metres) followed by
varying stratigraphies of green, brown and sandy clays and white ash tuffs until a rhyolite flow
sequence was encountered at 1,575 feet (480.18 metres). The rhyolite sequence, predominantly
dark gray to black volcanic glass (obsidian) flows with minor tuff and lithic tuff, may represent a
basement layer unconformably overlying the much older Emigrant Formation basement unit that was
intersected in hole GEM23-03, drilled to 1,620 feet (493.9 metres), thus providing further definition
of the depth of the Gemini basin.
Figure 1. Gemini TDEM Geophysical Model with Phase 1 and Phase 2 Drillholes (CNW
Group/Nevada Sunrise Gold Corporation)
Nevada Sunrise believes that the southern and western parts of the Gemini basin are highly
prospective for additional lithium mineralization and that further drilling could eventually define a large
lithium resource. The Company is planning to carry out a Phase 3 drilling program at Gemini later in
2023 to infill the current pattern of boreholes with the goal of producing a National Instrument 43-
101-compliant resource estimate and a Preliminary Economic Assessment of the lithium-bearing
zones. In addition to the lithium-fertile western area of Gemini, the 2016 and 2022 geophysical
results indicate continuity of the conductive zones (shown in red, Figure 1) in the eastern part of the
Project, where these untested zones appear to be mapping the lithium-bearing stratigraphies
intersected in the Phase 1 and Phase 2 drilling (Figure 2).
Figure 2: Gemini Lithium Project Borehole Locations, April 2023 (CNW Group/Nevada Sunrise Gold
Corporation)
A total of 49 groundwater water samples and 172 sediment samples were collected from GEM23-
05. Groundwater samples were collected intermittently at 20-foot intervals from a depth of 640 feet
to a depth of 1,080 feet (195.12 to 329.27 metres), and then continuously from 1,120 feet to the
bottom of the hole at 1,740 feet (341.46 to 530.49 metres). Sediment samples were collected at
20-foot (6.1 metre) intervals from the surface to a depth of 460 feet (140.24 metres) and then at 10-
foot (3.05 metre) intervals from 460 feet (140.24 metres) to the bottom of the hole at 1,740 feet
(530.49 metres).
Geochemical analyses for sediment and groundwater samples from GEM23-05 are pending, and will
be released following their receipt, compilation and interpretation.
About the 2022-2023 Gemini Drilling Program
In March and
April 2022
, Nevada Sunrise drilled two RC boreholes for a total of 2,020 feet (615.85
metres) in its maiden drilling program at Gemini. The drill sites were located within a defined gravity
low that hosts conductive layers detected by historical ground electromagnetic surveys. The results
from the first two holes at Gemini represented a new discovery of lithium-bearing sediments and
lithium-in-water in the western Lida Valley, which was not historically drill tested for lithium
mineralization. Borehole GEM22-03, drilled to 1,620 feet (493.9 metres) intersected the same
sequence of volcanic ash sediments as was found in GEM22-01 and GEM22-02, and similar
geologic formations are observed in borehole GEM23-04 and GEM23-05.
I n
July 2022
, Nevada Sunrise received a permit for an expanded drilling area from the Bureau of
Land Management (the "BLM") good until
July 2024
.
About Gemini
Gemini consists of 582 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
. The
Lida Valley is a flat, arid basin with a similar geological setting to the better-known
Clayton Valley
basin where Albemarle 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 BLM 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
.
For further information on Gemini, including drill hole location maps and photos
click here
Sampling and Analytical QA/QC and Statement of Qualified Person
Sediment Sample Collection and Analysis
Sediment samples described in this new release are a composite of material collected from the
rotary splitter in the RC drilling rig, which produces a continuous, representative 3 to 5 kilogram
sample for each sample interval. Samples were submitted to American Assay and ALS Global
USA
in
Reno, NV
and were 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.
Water Sample Collection and Analysis
Water parameters including TDS, conductivity, temperature, and pH values were obtained in the field
by direct measurement with a handheld YSI556 Multi-parameter water meter, which meets Good
Laboratory Practice (as proscribed by the Organization for Economic Cooperation and
Development) for calibration and measurement.
Groundwater samples were collected at 20-foot (6.1-metre) intervals and sent to Western
Environmental Testing Laboratory in
Reno, Nevada
under project chain-of-custody protocols for
analysis. Industry standard methods for examination of water are employed by the laboratory.
General chemistry testing may include analysis for specific gravity, total hardness, total alkalinity,
bicarbonate, carbonate, hydroxide, total dissolved solids (TDS) and electrical conductivity. Lithium
is analyzed by inductively coupled plasma-optical emission spectroscopy (ICP-OES) methods.
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
.
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.
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 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.
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 results and outcomes of the Company's
2022-2023 exploration and future 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 ending
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 Gold Corporation
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For further information:
Warren Stanyer, President and Chief Executive Officer, email:
[email protected], Telephone: (604) 428-8028; Jason Powell, Corporate
Communications, email: [email protected], Telephone: (604) 779-6497
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 19-APR-23