Nevada Sunrise provides exploration update for the Lovelock Cobalt Mine
Nevada Sunrise provides exploration update for the Lovelock Cobalt Mine
TSX Venture Exchange: NEV
VANCOUVER, Dec. 14, 2017 /CNW/ - Nevada Sunrise Gol d Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) is pleased to announce it ha s completed an initial geological sampling program
and a reconnaissance geophysical survey at the hist oric Lovelock Cobalt Mine (the "Lovelock Mine", or
the "Property"), located in Churchill County, approximately 100 miles (150 kilometres) east of Reno,
Nevada. The Property is subject to the terms of a letter agreement with an underlying vendor signed in
November 2017 (for further details see Nevada Sunrise news release dated November 21, 2017).
Two site visits by consulting geologists to Nevada Sunrise were completed in November and December
2017, and a total of 28 rock samples have been collected and submitted for analysis. Rocks sampled
include historical mine waste, and bedrock occurren ces within and around the various adits and shafts
that are accessible at the Lovelock Mine site. A 53-element analytical package, including platinum gro up
metals, has been ordered by the Company and geochem ical results are expected in early January 2018.
In addition, an initial 4.2 kilometre DC induced polarization/resistivity ("DC-IP") survey consisting of
stations spaced 25 to 50 metres apart on five lines has been completed by SJ Geophysics of Delta, B.C.,
using their proprietary Volterra acquisition system. The Volterra system allows crews to navigate around
challenging terrain features such as lakes, swamps and cliffs or to adjust station locations to optimize
ground contact. This DC-IP survey, projected to have a depth of investigation of approximately 250
metres (820 feet), is very likely the first ground geophysical program ever completed at the Property. In-
depth processing and modelling of the data is underway and the Company plans to integrate the results
with mapped geology to develop targets for a first-pass drilling program in the spring of 2018. There are
no known historical drill holes at the Lovelock Mine.
"The Lovelock Mine is literally a time capsule never tested by modern exploration methods," said Warre n
Stanyer, President and CEO of Nevada Sunrise. "Our preliminary geophysical survey results show
chargeability responses that could represent deeper zones of mineralization than the miners of the 1880s
ever reached. The exploration goal at the Lovelock Mine is to find a deep-seated source for the historical
cobalt mineralization."
About the Lovelock Mine
The Lovelock Mine property area consists of 37 unpatented claims in the Cottonwood Canyon area of
Stillwater range totaling approximately 740 acres (300 hectares). It was reportedly discovered by George
Lovelock and Charles Bell about 1880. According to U.S. Government annual reports, the Lovelock Mine
saw limited production of nickel, copper and cobalt beginning in 1883. The primary cobalt mineral was
identified as "cobaltite", a compound of cobalt, sulphur and arsenic with some nickel replacement of
cobalt normal. Records of a geochemical analysis fr om that era indicate that the average composition of
the cobaltite contained 17.30% cobalt and 13.62% nickel . The mine operated from 1883 to 1890 to the
100-foot level, reporting 500 tons of concentrated cobalt and nickel mineralized material shipped to
England for processing. After intermittent production, a British company attempted smelting on site in
1898 but the smelter suffered equipment failures and production ceased. (Source: "Mineral Resources of
the United States for 1885", 1886). No further production from the Lovelock Mine is known for well over a
century.
For further information about the Lovelock Mine, including scanned copies of certain historical reports
produced by the Nevada Bureau of Mines and precurso rs of the United States Geological Survey, please
visit the Company's website at: http://www.nevadasunrise.ca/projects/lovelock-cobalt-mine/
Geology and Mineralization of the Lovelock Mine
The rocks of the Lovelock Mine area include highly-altered sedimentary and volcanic rocks cut by a larger
mass of diorite and by aplitic dikes, all of which are highly altered. The altered volcanic rocks lie in a
syncline bordered on the west, north and east by the altered sedimentary rocks. Probable faults, infer red
from the nature of the contacts, form the boundaries between the sedimentary and volcanic rocks
northwest of the Lovelock Mine.
The cobalt and nickel minerals of the Lovelock Mine and the nearby Nickel Mine occur in stringers that
cut the rock immediately surrounding the diorite. In the case of the Lovelock Mine, the stringers cut a
highly-altered greenstone. The minerals recognized are tetrahedrite, erythrite (cobalt bloom), azurite, and
green crusts that contain copper and nickel arsenates and sulphates. Other sources reported the princi pal
mineral present is cobaltite. It was postulated by historical observers that there has been post-miner al
faulting with downthrow on the west, and that the extension of the productive zone is west of the Love lock
Mine shaft and at greater depth than the historical workings could reach (Source: "Nickel Deposits in
Cottonwood Canyon, Churchill County, Nevada", H.G. Ferguson, 1939).
Robert M. Allender, Jr., CPG, RG, SME is the Compan y's designated Qualified Person for this news
release within the meaning of National Instrument 43-101 and has reviewed and approved the technical
information contained herein. Readers are cautioned that 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.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration comp any with a strong technical team based in
Vancouver, BC, Canada, that holds interests in gold, lithium and cobalt mineral exploration projects in the
State of Nevada, USA.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, and currently owns
a 100% interest in the Aquarius project, and a 75% interest in the Neptune project (Resolve Ventures,
TSXV: RSV, owns a 25% interest in Neptune), each located in the Clayton Valley area. The Company
also holds options to earn 100% interests in the Jackson Wash and Atlantis lithium projects, and holds a
50% interest in the Gemini lithium project, all located in playas proximal to the Clayton Valley. The
Company's Atlantis project is currently under option to American Lithium Corp. (TSXV: LI).
For further information on other Nevada lithium pro jects operated by the Company (Aquarius, Neptune,
Jackson Wash and Gemini), including location maps, please visit the Nevada Sunrise website at:
"Projects – Nevada Lithium": http://www.nevadasunrise.ca/projects/nevadalithium/
In November 2017, Nevada Sunrise announced an optio n to earn a 100% interest in the historic Lovelock
Cobalt Mine property, located approximately 100 miles (150 kilometres) east of Reno.
The Company's two key gold assets include a 100% in terest in the Golden Arrow project near Tonopah,
currently the subject of an option earn-in transaction with Emgold Mining Corporation (TSXV: EMR) and a
21% interest in a joint venture with Liberty Gold Inc. (TSX: LGD, formerly Pilot Gold Inc.) at Kinsley
Mountain near Wendover, with each of the properties subject to certain production royalties.
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 and minerals, potential quantity and/or grade
of minerals, potential size of a mineralized zone, potential expansion of mineralization, the timing a nd
results of current or future mineral resource estimates, or other study, proposed exploration and
development of our exploration properties and the estimation of mineral resources. Forward-looking
information is often, but not always, identified by the use of words such as "seek", "anticipate", "pl an",
"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 unknow n 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 interpretation and actual results of historic al work
at the Lovelock Mine property, reliance on technica l information provided by third parties on any of our
exploration properties, including access to historical information on the Lovelock Mine property, curr ent
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 ant icipated; the failure of contracted parties to perform;
failure of Nevada Sunrise 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, 2017, which is available under Company's
SEDAR profile at www.sedar.com
Although Nevada Sunrise has attempted to identify i mportant 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 event s
could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intent ion
or obligation to update or revise any forward-looking information, whether as a result of new informat ion,
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 st atements 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 responsib ility for the adequacy of accuracy of this
release. The Securities of Nevada Sunrise Gold Corp oration have not been registered under the
United States Securities Act of 1933, as amended, a nd 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
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/December 2017/14/c3898.html
%SEDAR: 00026824E
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 484-7143, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 08:30e 14-DEC-17