Nevada Sunrise Receives Geophysical Survey Results from the Gemini Lithium Project, Nevada
Nevada Sunrise Receives Geophysical Survey
Results from the Gemini Lithium Project,
Nevada
VANCOUVER, BC
,
July 11, 2022
/CNW/ -
Nevada Sunrise Gold Corp.
("Nevada Sunrise", or the
"Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it has received preliminary
results of a ground geophysical survey carried out in
May 2022
at its 100%-owned Gemini Lithium
Project ("Gemini"), located in the Lida Valley basin in
Esmeralda County, Nevada
. The 2022 time-
domain electromagnetic ("TDEM") survey has successfully expanded the scope of geophysical
surveys carried out by the Company in 2016 and demonstrates the continuity of conductive zones
where lithium-bearing clays and water were encountered during the Company's 2022 drilling
program (see Nevada Sunrise news releases dated
May 18, 2022
and
June 6, 2022
.
The 2022 TDEM survey was designed to outline the possible lateral extent of the conductive, lithium-
bearing clay layers that were intersected in drillholes GEM22-01 and GEM22-02. A total of 13.0 line
kilometres were carried out on three new survey lines as shown in Figure 1.
Figure 1: Gemini TDEM Survey Results with 2022 Drill Holes (CNW Group/Nevada Sunrise Gold
Corporation)
Nevada Sunrise is pleased with the preliminary results of the 2022 TDEM survey, which has
provided confidence for future drill targets within the conductive zones that are interpreted as clay
layers with potential for hosting lithium-bearing brines. Processing of the TDEM data is still ongoing,
including the merging of the newly-acquired data with historical data, and the Company expects to
further refine the geophysical model. Additional surveys may be carried out in 2022 to infill the
existing survey lines in order to develop a definitive 3-D model of the conductive zones at Gemini.
In particular, the conductivity measured to the north and west of the two existing drill holes
demonstrates continuity of the zones where lithium-bearing clays and water were encountered in drill
holes GEM22-01 and GEM22-02. An amendment to the existing drill permit for new drill hole
locations is anticipated to be filed in
July 2022
, and drill tenders are being prepared to select a
contractor for a Phase 2 exploration program in the summer/fall of 2022.
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
. Nevada
Sunrise expanded the size of the Project by staking 80 additional unpatented placer claims and 288
new unpatented lode claims in the spring of 2022. Gemini is situated adjacent to the Gold Point
Solar Energy Zone, a BLM land reserve set aside for solar and wind power generation projects until
2033. Drill pads and access roads are 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 State law, water cannot be pumped from a subterranean source without a
valid water permit.
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 initial results 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. The analytical results from boreholes
GEM22-01 and GEM22-02, located 0.69 miles (1.1 kilometres) apart suggest that the extent of
lithium-bearing clay layers and waters at Gemini may be widespread.
Borehole
GEM22-01
: weighted-average of
1,203.41 parts per million ("ppm") lithium over
580 feet
(176.83 metres) from 320 to 900 feet (97.56 to 274.39 metres), including
1,578.19
ppm lithium over 300 feet
(91.46 metres);
Borehole
GEM22-02
: weighted-average of
1,101.73 ppm lithium over 730 feet
(222.56
metres) from 390 to 1,120 feet (118.90 to 341.46 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).
Water samples from borehole GEM-22-01 averaged
327.7 milligrams per litre ("mg/L") lithium
over 220 feet
(67.07 metres) from 600 to 820 feet (182.93 to 250 metres) with a peak value of
519
mg/L lithium
. Water samples from borehole GEM22-02 returned an average of
116.28 mg/L
lithium over 460 feet
(140.24 metres) from 660 to 1,120 feet (201.22 to 341.46 metres) with a
peak value of
286.0 mg/L lithium.
For further information on Gemini, including location maps and photos
click here
Sampling and Analytical QA/QC and Statement of Qualified Person
The results of geochemical analysis on sediment samples described in this news release were
shipped in March and
April 2022
to American Assay Laboratories and ALS Group
USA
("ALS") and
were analyzed utilizing a multi-element ICP-MS 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 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.
Water parameters including TDS, conductivity, temperature, and pH values were obtained in the field
by direct measurement with a handheld Hanna Model 98194 Multiparameter Meter, which meets
Good Laboratory Practice (as proscribed by the Organization for Economic Cooperation and
Development) for calibration and measurement. All depth measurements reported, including sample
and interval widths are down-hole. As holes are oriented vertical and geologic stratigraphy is
primarily horizontal to sub-horizontal, downhole measurements are assumed to be close to true
thickness.
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
.
The Company's key gold asset is a 20.01% interest at the Kinsley Mountain Gold Project ("Kinsley
Mountain") near
Wendover, NV.
Kinsley Mountain
is a joint venture with Copaur Minerals Inc.
("Copaur", TSXV: CPAU), following the completion of a plan of arrangement between Copaur and
the Company's former joint venture partner, New Placer Dome Gold Corp.
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
March 31
, 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. 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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http://www.newswire.ca/en/releases/archive/July2022/11/c5082.html
%SEDAR: 00026824E
For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, email: [email protected]; Jason Powell, Corporate Communications,
Telephone: (604) 779-6497, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 11-JUL-22