Nevada Sunrise Defines Drill Targets at Coronado VMS Project in Nevada
Nevada Sunrise Defines Drill Targets at
Coronado VMS Project in Nevada
TSX Venture Exchange: NEV
VANCOUVER, BC
,
Oct. 8, 2020
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or
the "Company") (TSXV: NEV) is pleased to announce that a geochemical sampling program at the
Coronado VMS property ("Coronado", or the "Project") has detected a cluster of strong geochemical
anomalies above the Coronado South geophysical conductor.
Highlights of the 2020 Coronado Geochemical Survey
In
August 2020
, Nevada Sunrise collected 162 soil samples from a grid established across the
surface trace of the Coronado South conductor, which is an airborne electromagnetic anomaly
defined by the Company's helicopter-borne 2018 geophysical survey (see Nevada Sunrise news
release dated
September 26, 2018
). The soil samples were submitted to Activation Laboratories
Ltd. in
Ancaster, Ontario
("Actlabs") for Spatiotemporal Geochemical Hydrocarbons ("SGH")
analysis.
The 2020 SGH results showed a classic "segment nested halo" geochemical anomaly, which
indicates a high probability of related volcanogenic massive sulphide ("VMS") mineralization
1
.
Nevada Sunrise commissioned an additional analytical study from Actlabs to focus on the specific
SGH hydrocarbon signatures predicted to be associated with copper mineralization and the result is
shown in the picture below:
Coronado VMS Project SGH Survey Copper Anomaly (CNW Group/Nevada Sunrise Gold
Corporation)
1
3D – SGH, "A Spatiotemporal Geochemical Hydrocarbon Interpretation" for Nevada Sunrise Gold Corporation, Coronado South SGH Project, Activation Laboratories Ltd.,
September 21, 2020
This initial soil survey program represents the Company's first test of the SGH process, a nano-
geochemistry method developed by Actlabs, which has been reported to detect buried sulphide
mineralization at depths up to 500 metres. The results from the 2020 SGH survey give confidence to
the Company's interpretation of the geological setting at
Coronado
, and have been integrated into
the target matrix for a future diamond drilling program.
For additional maps and photos of the Company's exploration work at
Coronado
click here
.
About
Coronado
Coronado
currently consists of 133 located unpatented claims totaling approximately 2,748 acres
(1,113 hectares) located in the Tobin and Sonoma Range of
Pershing County, Nevada
,
approximately 48 kilometers (30 miles) southeast of
Winnemucca
. The Project lies over an
interpreted trend adjacent to the historic Big Mike copper mine that lies within the Middle
Pennsylvanian to Late Permian-age Havallah volcanic-sedimentary sequence. Big Mike produced
from an open pit mine where high-grade copper was discovered in the 1960s, resulting in copper
production into the 1970s.
The Havallah sequence in general and the Pumpernickel Formation in particular have received little
attention for base metals exploration since the 1970s and have been virtually ignored by resource
companies operating in
Nevada
who are focussed mainly on gold exploration. The lack of recognition
of the VMS exploration model in conjunction with airborne electromagnetic surveying may be the key
reasons why no new VMS discoveries have been made to date in
Nevada
.
Robert M. Allender, Jr.
, CPG, RG, SME is the Company's designated Qualified Person for this news
release within the meaning of National Instrument 43-101 ("N.I. 43-101") and has reviewed and
approved the technical information contained herein. Readers are cautioned that some of the
technical information described in this news release is historical in nature; however, the information is
deemed credible and was produced by professional geologists of the eras discussed. Mineralization
located on adjacent properties by historical exploration may not be present on
Coronado
.
Soil samples described in this news release were analyzed by the SGH method developed by
Actlabs. Upon receipt, samples are air-dried and then sieved with the -80 mesh sieve fraction
collected. From the collected pulp, compounds are separated by gas chromatography and detected
by mass spectrometry at a reporting limit of one part per trillion.
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% interest in a joint venture with New Placer Dome Gold
Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near
Wendover
.
Kinsley Mountain
is a
Carlin-style gold project hosting a N.I. 43-1010 compliant gold resource consisting of 418,000
indicated ounces of gold grading 2.63 grams/tonne ("g/t") gold (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 gold
1
.
1
Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada, U.S.A., effective January 15, 2020 and prepared by Michael M.
Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (
www.sedar.com
).
In
September 2018
, Nevada Sunrise acquired the right to earn a 100% interest in the Coronado
VMS Project, located in
Pershing County
, approximately 48 kilometers (30 miles) southeast of
Winnemucca. Nevada Sunrise owns a 15% interest in the historic Lovelock Cobalt Mine and
Treasure Box
copper property, each located approximately 150 kilometers (100 miles) east of
Reno
, with Global Energy Metals Corp. (TSXV: GEMC) owning an 85% interest in each of the
properties.
Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of
which are located in
Esmeralda County
. The Company owns Nevada water right Permit 44411,
located within the Clayton Valley basin near Silver Peak,
Nevada
.
Forward Looking Statements
All statements in this release, other than statements of historical fact, are "forward-looking
information" with respect to Nevada Sunrise Gold Corporation ("Nevada Sunrise") within the
meaning of applicable Canadian securities laws, including statements that address future mineral
production, reserve potential, exploration drilling, the future price of gold and other metals,
potential quantity and/or grade of minerals, potential size of a mineralized zone, potential
expansion of mineralization, the timing and results of current or future mineral resource estimates
or other studies, proposed exploration and development of our exploration properties and the
estimation of historical mineral resources on the Company's mineral properties, including the
Coronado
property. Forward-looking information is often, but not always, identified by the use of
words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict",
"potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a
"goal", or variation of such words and phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be achieved. These statements
involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Nevada Sunrise to differ materially from those anticipated
in such forward-looking information.
Such factors include, among others, risks related to the actual results of exploration at the
Coronado
property, reliance on technical information provided by third parties on any of our
exploration properties, including access to and interpretation of historical information on the
Coronado
property as well as specific historical data associated with drill results and sampling
from adjacent areas to the
Coronado
property; information from the public domain, 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 Nevada Sunrise or its contractors 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, 2020
, 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.
Forward-looking statements are made as of the date hereof and accordingly are subject to change
after such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect
the potential impact of any non-recurring or other special items or of any dispositions,
monetizations, mergers, acquisitions, other business combinations or other transactions that may
be announced or that may occur after the date hereof. Forward-looking statements are provided for
the purpose of providing information about management's current expectations and plans and
allowing investors and others to get a better understanding of our operating environment. Nevada
Sunrise does not undertake to update any forward-looking statements that are included in this
document, except in accordance with applicable securities laws.
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 of
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, Facsimile:
(604) 684-9365, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 08-OCT-20