Nevada Sunrise Receives Drilling Permit for Roulette Gold Project in Southeastern Carlin Trend, Nevada
Nevada Sunrise Receives Drilling Permit for Roulette Gold Project in
Southeastern Carlin Trend, Nevada
TSXV: NEV
VANCOUVER, March 6, 2017 /CNW/ - Nevada Sunrise Gol d Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) is pleased to announce that a drilling permit has been received from the U.S.
Bureau of Land Management (the "BLM") for its 100% owned Roulette Gold Project ("Roulette") located
at the southeastern extent of the Carlin Trend in W hite Pine County, eastern Nevada, USA. In addition, a
performance bond submitted by the Company has been accepted by the BLM to allow construction of up
to nine drill pads and their associated access roads. Flagging of access roads and construction of dri ll
pads for the first three target areas is underway and drilling is expected to commence as soon as grou nd
conditions permit.
2017 Drilling Program
Exploration at Roulette is focussed on determining the extent of two jasperoid outcrops ("Parlay" and
"Gambit") known from historical prospecting and map ping, one of which is mineralized. The Parlay
jasperoid was sampled in August 2014 by Nevada Sunr ise and returned 4.44 grams/tonne gold over a
sample length of 3.30 metres (10 feet), and 1.05 grams/tonne gold over a sample length of 2.64 metres (8
feet). Subsequent geochemical and geophysical surv eys by Nevada Sunrise in 2015 and 2016 were
integrated into a 3D model, which assisted in ident ifying several high-priority targets based on
chargeability and geochemical anomalies, favourable lithology and interpreted structures (see Nevada
Sunrise news release dated December 7, 2016).
"Our work at Roulette has provided promising drill targets that exhibit the geological characteristics of a
Carlin-style gold deposit," said Warren Stanyer, President and CEO of Nevada Sunrise. "We are eager to
begin this drilling program in a fertile district for gold mineralization."
Three holes totalling approximately 1,000 metres (3 ,280 feet) are planned for the first phase of drilling,
using reverse circulation drilling equipment. Follow-up drilling will be based on the results of the initial
drilling.
A "depth slices" animated plan map of the combined 2015-2016 geophysical surveys and a screenshot
from the 3D model showing one of the primary Roulette targets can be viewed on the Company's website
at http://www.nevadasunrise.ca/projects/roulette/ .
About Roulette
Roulette (formerly known as the Grulla property) consists of 120 unpatented claims totaling 971 hectares
(2,400 acres) located approximately 45 kilometers ( 30 miles) north of Ely, Nevada. Roulette was acquired
from an underlying vendor by Nevada Sunrise in 2014 (see Nevada Sunrise news release dated
November 14, 2014).
To the north of Roulette is McEwen Mining Inc.'s ("McEwen") Limousine Butte project, which according t o
McEwen's public disclosure, hosts three deposits containing a measured plus indicated resource of
241,080 ounces of gold, and an inferred resource of 50,700 ounces of gold ( Source: "NI 43-101 Technical
Report for the Limousine Butte Project, White Pine County Nevada", dated July 1, 2009, authored by
Telesto Nevada Inc. ). To the northwest, Freeport-McMoran Inc. ("Freeport") holds a large claim block
(approximately 30,000 acres, or 12,000 hectares) prospective for porphyry copper/gold deposits, which
encompasses the Butte Valley copper prospect Freepo rt acquired in 2012 from Quaterra Resources Inc.
The conceptual target at Roulette is a sediment-hosted, Carlin-type, disseminated gold deposit. Gold is
commonly micron-sized, and is associated with hydrothermal alteration of carbonate host rocks. Nevada
Sunrise believes that Roulette is under-explored, and until 2015-2016, there is no known ground or
airborne geophysical data in the public record. Any historical drilling is unconfirmed as to drill hole
location, footage or results.
Roulette shows geological similarities to the Alligator Ridge gold deposits located about 36 kilometer s (24
miles) to the west, now part of Barrick Gold's Bald Mountain gold mine. The Alligator Ridge mine was
discovered in the mid-1970s and produced approximat ely 700,000 ounces of gold from three deposits in
the 1980s. Roulette and Alligator Ridge share certain sedimentary rock formations known to host Carlin -
style mineralization, namely a sequence of Devonian/Mississippian limestones and shales including the
Guilmette Limestone, Pilot Shale, Joana Limestone and Chainman Shale. Nevada Sunrise considers the
geological setting of Alligator Ridge as a model for future exploration on the Roulette Project.
John R. Kerr, P. Eng., is the Company's designated Qualified Person within the meaning of National
Instrument 43-101 and has reviewed and approved the technical information contained in this news
release.
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, potential quantity and/or grade of minerals, potential size of a
mineralized zone, potential expansion of mineraliza tion, the timing and results of future 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", "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 interpretation and actual results of historic al
exploration at the Roulette property or other properties in the Carlin Trend district, reliance on technical
information provided by third parties on any of our exploration properties, including access to historical
information on the Roulette property, current exploration and development activities; changes in proje ct
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; d elays 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, 2016, whic h 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
To view the original version on PR Newswire, visit:
http://www.newswire.ca/en/releases/archive/March201 7/06/c2963.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 06-MAR-17