Nevada Sunrise Receives Additional Lithium Analyses - GEM22-01 Mineralized Intersection Improves to 1,203 ppm Lithium over 580 Feet in New Lithium Discovery at the Gemini Lithium Project, Nevada
Nevada Sunrise Receives Additional Lithium Analyses -
GEM22-01 Mineralized Intersection Improves to 1,203
ppm Lithium over 580 Feet in New Lithium Discovery at
the Gemini Lithium Project, Nevada
VANCOUVER, BC
,
April 28, 2022
/CNW/ -
Nevada Sunrise Gold Corp
. ("Nevada Sunrise", or the "Company") (TSXV:
NEV) is pleased to announce that a wider and higher-grade intersection of lithium mineralization has been determined in
the inaugural drilling program at its 100%-owned Gemini Lithium Project ("Gemini"), located in the Lida Valley basin in
Esmeralda County, Nevada
. Additional analyses from borehole GEM22-01 received this week have extended the length of
the previously-reported mineralized intersection and improved the lithium grade to
1,203.41 parts per million ("ppm")
lithium over 580 feet
(176.83 metres), including
1,578.19 ppm lithium over 300 feet
(91.46 metres).
2022 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 ("EM") surveys. The initial results represent a new
discovery of lithium-bearing sediments in the western Lida Valley, which has not been historically drill tested for lithium
mineralization.
Borehole GEM22-01
intersected a lithium-bearing clay layer at 320 feet (97.56 metres) and in early
April 2022
, the
Company rushed samples collected from 320 to 520 feet to determine its fertility (see Nevada Sunrise news release dated
April 21
, 2022: "
Nevada Sunrise Intersects 950 ppm Lithium over 200 Feet in Maiden Drilling Program at the Gemini Lithium Project,
Nevada
"). Additional samples collected over 20-foot intervals
1
below the 520-foot level to the end of hole at 900 feet were
processed within a larger batch of 210 composite sediment samples submitted to ALS Group
USA
("ALS"), in
Reno,
Nevada
, and produced the results shown in Table 1 below:
Table 1. Final analytical results from borehole GEM22-01
GEM22-01 Lithium Mineralization
Interval
Length (ft)
Interval
Length (m)
Li
(weighted avg. ppm)
From
(ft)
To
(ft)
From
(m)
To
(m)
320
900
580
97.56
274.39
176.83
1,203.41
including:
480
780
300
146.34
237.8
91.46
1,578.19
1
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 20-foot interval.
Borehole GEM22-02
was drilled to a depth of 1,120 feet (341.5 metres) at a location approximately 0.69 miles (1.1
kilometre) south of GEM22-01 and also encountered the fertile clay layer. Representative samples were submitted in a
second suite of rush samples and returned weighted-average values of
775.9 ppm lithium over 130 feet (39.63 metres)
from 390 to 520 feet (118.90 to 158.54 metres), including 1,133.1 ppm lithium over 40 feet (12.20 metres) from 480
to 520 feet (146.34 to 158.54 metres).
The analytical results for an additional 131 samples from GEM22-02 are still
pending.
Electromagnetic Survey Results Showing Conductive Zones and 2022 Drill Holes at Gemini (CNW Group/Nevada Sunrise
Gold Corporation)
Electromagnetic Survey Results Showing Conductive Zones and 2022 Drill Holes at Gemini
Additional drilling is planned following receipt of an amendment to the current Bureau of Land Management drilling permit,
which will be required to cover the Company's newly-expanded land position. In
April 2022
, Nevada Sunrise staked 268
lode claims totaling 5,420 acres (2,193.4 hectares) over the outline of the gravity low to effectively cover the possible
extent of the lithium-bearing clay layers. Follow-up geophysical EM surveys are planned in the spring of 2022 within the
gravity low to further map the conductive layers first detected by Nevada Sunrise in 2016.
For further information on Gemini, including location maps and photos
click here
About Gemini
Gemini consists of 387 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
. Nevada Sunrise expanded the size of the Project
by staking 80 new unpatented claims in
March 2022
, and 268 additional unpatented claims in
April 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 remain 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.
Sampling and Analytical QA/QC and Statement of Qualified Person
Sediment samples were shipped to American Assay and to ALS. The rush samples reported in this document were
analyzed at American Assay utilizing a multi-element ICP-MS method. The additional samples reported in this document
were processed by ALS on a standard turn-around and analyzed with similar multi-element ICP-MS methods. Specifically,
the analytical method involves aqua regia digestion of the sample followed by the inductively coupled plasma (ICP)
technique to ionize the sample, and spectrometry 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.
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 Company's 2022 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 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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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 07:37e 28-APR-22