Nevada Sunrise Intersects 929.8 ppm Lithium over 1,130 feet at the Gemini Lithium Project, Nevada
Nevada Sunrise Intersects 929.8 ppm Lithium
over 1,130 feet at the Gemini Lithium Project,
Nevada
VANCOUVER, BC
,
Feb. 7, 2023
/CNW/ -
Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the
"Company") (TSXV: NEV) is pleased to announce that the Company has received final geochemical
analyses for lithium mineralization in sediments and groundwater collected from borehole GEM22-
03, drilled at its 100%-owned Gemini Lithium Project ("Gemini") located in the Lida Valley basin in
Esmeralda County, Nevada
. Drilling of borehole GEM22-03 began on
October 18, 2022
and was
completed to a depth of 1,620 feet (493.90 metres) on
December 16, 2022
.
Highlights of GEM22-03
Borehole
GEM22-03
intersected
929.80 parts per million ("ppm") lithium-in-sediment over
1,130 feet
from 280 feet (85.37 metres) to 1,410 feet (344.51 metres), including
1,342.20 ppm
lithium over 350 feet
(106.71 metres) and
1,955 ppm lithium over 30 feet
(9.15 metres) (see
Table 1 below for greater detail on mineralized intervals);
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, thereby successfully extending
the lithium mineralized zone to the north.
Groundwater sample analyses showed anomalous concentrations of lithium in groundwater
flows intersected within the hole, including two significant intervals of
120 milligrams/litre
lithium ("mg/L")
in a water flow of 14.22 gallons per minute ("gpm") from 1,100 to 1,120 feet
(335.37 to 341.46 metres), and
110 mg/L lithium
in a water flow of 16.4 gpm from 1,200 to
1,220 feet (365.85 to 371.95 metres).
Table 1. Final Lithium-in-Sediment analytical results from borehole GEM22-03
Gemini Lithium Project - Borehole GEM22-03
Depth Interval
Thickness
Lithium
(Weighted
average:
ppm)
From
(feet)
To
(feet)
From
(metres)
To
(metres)
Feet
Metres
280
1,410
85.37
429.88
1,130
344.51
929.80
including:
280
630
85.37
192.07
350
106.71
1,342.20
including:
400
430
121.95
131.10
30
9.15
1,856.94
and:
470
500
143.29
152.44
30
9.15
1,955.73
and:
560
600
170.73
182.93
40
12.20
1,543.79
Note:
Sediment samples 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.
All depth measurements
reported, including sample and interval widths are down-hole. As holes
at Gemini
are oriented vertical and geologic
stratigraphy is primarily horizontal to sub-horizontal, downhole measurements are assumed to be close to true
thickness.
Nevada Sunrise interprets the lithium-in-water results in GEM22-03 as groundwater flows that are
situated higher up in the stratigraphy of the Gemini basin, and further north of the location of the
stronger lithium-in-water results intersected in boreholes GEM22-01 and GEM22-02. Borehole
GEM23-04 (in progress) has reached a depth of 1,900 feet as of
February 2, 2023
and is an
example of the Company's plan to drill deeper holes in the southern part of Gemini with the goal of:
(1) intersecting wide intervals of lithium-bearing sediments and (2) locating higher concentrations of
lithium-in-water coincident with significant groundwater flow rates.
Drilling operations at the site of borehole GEM23-04, February 2023 (CNW Group/Nevada Sunrise
Metals Corporation)
About the 2022-2023 Gemini Drilling Program
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 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 represent a new discovery of
lithium-bearing sediments and lithium-in-water in the western Lida Valley, which has not been
historically drill tested for lithium mineralization (see Nevada Sunrise news releases dated
May 18, 2022
and
June 6, 2022
). 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, still in progress.
In
July 2022
, Nevada Sunrise received a permit for an expanded drilling area from the Bureau of
Land Management (the "BLM") and began Phase 2 drilling at Gemini in October 2022. Up to six
boreholes are planned in Phase 2 for an estimated total of 8,000 feet (2,439 metres) of drilling.
For further information on Gemini, including drill hole location maps and photos
click here
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 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
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 were employed by the laboratory.
General chemistry testing included analysis for specific gravity, total hardness, total alkalinity,
bicarbonate, carbonate, hydroxide, total dissolved solids (TDS) and electrical conductivity. Anions
(chloride, sulfate) were analyzed by ion chromatography. Trace metals (lithium, magnesium, boron,
calcium, potassium, strontium, and sodium) were 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 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 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 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 Year Ended
September 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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For further information:
Warren Stanyer, President and Chief Executive Officer, email:
[email protected], Telephone: (604) 428-8028 or Jason Powell, Corporate
Communications, email: [email protected], Telephone: (604) 779-6497
CO: Nevada Sunrise Metals Corporation
CNW 07:30e 07-FEB-23