Nevada Sunrise Receives Final Lithium Analyses from Borehole GEM22-02 - Mineralized Intersection Improves to 1,101 ppm Lithium over 730 Feet at the Gemini Lithium Project, Nevada
Nevada Sunrise Receives Final Lithium
Analyses from Borehole GEM22-02 -
Mineralized Intersection Improves to 1,101
ppm Lithium over 730 Feet at the Gemini
Lithium Project, Nevada
TSXV: NEV
VANCOUVER, BC
,
May 18, 2022
/CNW/ -
Nevada Sunrise Gold Corp.
("Nevada Sunrise", or the
"Company") (TSXV: NEV) is pleased to announce that the remaining geochemical analyses have
been received for borehole GEM22-02, drilled at its 100%-owned Gemini Lithium Project ("Gemini")
located in the Lida Valley basin in
Esmeralda County, Nevada
. These additional analyses from
borehole GEM22-02 have extended the length of the previously-reported mineralized intersection
(see Nevada Sunrise news release dated
April 28, 2022
) and improved the lithium grade to
1,101.73
parts per million ("ppm") lithium over 730 feet
(222.56 metres), including
2,217.69 ppm lithium
over 130 feet
(39.63 metres) and
3,304.34 ppm lithium over 50 feet
(15.24 metres).
Borehole GEM22-02
was collared at a location approximately 0.69 miles (1.1 kilometre) south of
GEM22-01 and intersected the same lithium-bearing clay layer at 390 feet (118.90 metres).
Samples were collected over 20-foot (6.1 metre) intervals
1
down to a depth of 300 feet (91.46
metres). Thereafter, samples were collected over 10-foot (3.05 metre) intervals
1
to the end of hole
at 1,120 feet (341.46 metres). Samples were 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 GEM22-02
GEM22-02 Lithium Mineralization
Sample Interval
Thickness
Lithium
(Weighted average in ppm)
Feet
Metres
Feet
Metres
From
To
From
To
390
1120
118.90
341.46
730
222.56
1,101.73
including
490
560
149.39
170.73
70
21.34
1,227.15
990
1120
301.83
341.46
130
39.63
2,217.69
including
1070
1120
326.22
341.46
50
15.24
3,304.34
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 sample interval.
About the 2022 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 ("EM") surveys. The results from the first two holes at Gemini represent a new
discovery of lithium-bearing sediments in the western Lida Valley, which has not been historically drill
tested for lithium mineralization.
Electromagnetic Survey Results Showing Conductive Zones and 2022 Drill Holes at Gemini (CNW
Group/Nevada Sunrise Gold Corporation)
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 and
May 2022
, Nevada Sunrise staked 288 unpatented lode claims totaling 5,760
acres (1,756 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 underway at Gemini within the
interpreted area of the historical gravity low to further map and assess the conductive layers first
detected by Nevada Sunrise in 2016 (see Nevada Sunrise news release dated
May 12, 2022
).
For further information on Gemini, including location maps and photos
click here
About Gemini
Gemini consists of 407 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 Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated
continuously since 1966. Nevada Sunrise expanded the size of the Project by staking 80 new
unpatented placer claims in
March 2022
, and 288 additional unpatented lode claims in April and
May
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. 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. Drill pads and access
roads remain in place at Gemini with an active drilling permit.
Sampling and Analytical QA/QC and Statement of Qualified Person
Sediment samples described in this new release were submitted to ALS and 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.
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 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.
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, email:
[email protected], Telephone: (604) 428-8028 or Jason Powell, Corporate
Communications, email: [email protected], Telephone: (604) 779-6497
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 18-MAY-22