Nevada Sunrise Receives Initial Lithium Analyses from Borehole GEM22-03
Nevada Sunrise Receives Initial Lithium
Analyses from Borehole GEM22-03
TSXV: NEV
VANCOUVER, BC
,
Dec. 6, 2022
/CNW/ -
Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the
"Company", formerly Nevada Sunrise Gold Corp.) (TSXV: NEV) (OTC: NVSGF) is pleased to
announce that preliminary geochemical analyses have been received for borehole GEM22-03 at its
100%-owned Gemini Lithium Project ("Gemini") located in the Lida Valley basin in
Esmeralda
County, Nevada
. In the upper part of the hole, the Company has intersected lithium-bearing
sediments in the characteristic lithium-bearing green clay that was encountered in the first two holes
(GEM22-01 and GEM22-02) drilled in the spring of 2022. Drilling of GEM22-03 is still in progress
with the hole depth currently at approximately 1,380 feet (420.73 metres).
Geophysical TDEM Model Showing Conductive Zones and 2022 Drill Holes at Gemini (CNW
Group/Nevada Sunrise Metals Corporation)
Borehole GEM22-03 was collared at a location approximately 0.47 miles (0.76 kilometres) north of
GEM22-01 and 1.14 miles (1.83 kilometres) north of GEM22-02. Sampling of the lithium-bearing
green clay layer began at 300 feet (91.46 metres), after the drill passed through the surficial
alluvium (sand and gravel) layer, and 22 representative spot samples were collected from various
intervals in the hole to provide an initial geochemical assessment of the green clay layer to a depth
of 810 feet (246.95 metres). The 22 representative samples were submitted on a rush basis to
American Assay Laboratories in
Sparks, Nevada
, and produced results ranging from 615 parts per
million ("ppm") lithium to 1,450 ppm lithium (see Table 1).
Table 1. Initial analytical results from borehole GEM22-03
Feet
Metres
Lithology Description
Lithium
(weighted avg.
ppm)
310
94.51
Dark gray-green clay, medium firm
1101
380
115.85
Gray-green clay, sticky and soft
1005
390
118.9
Gray-green clay, sticky and soft
949
400
121.95
Gray-green clay, sticky and soft
1084
430
131.1
Gray-green clay, medium firm
1298
440
134.15
Gray-green clay, medium firm
1336
480
146.34
Gray-green clay, soft, trace pyrite
1406
490
149.39
Gray-green clay, soft, trace pyrite
1450
560
170.73
Gray-green clay, sticky and soft
1188
580
176.83
Mixed siliceous chips and gray-green clay
1000
590
179.88
Mixed siliceous chips and gray-green clay
1278
610
185.98
Mixed gray chips and light gray hard clay
898
620
189.02
Mixed siliceous chips, medium gray hard clay, and dark
gray-green firm clay
1044
640
195.12
Dark gray-green clay, firm
702
660
201.22
Dark gray-green clay, firm
947
680
207.32
Mixed medium gray, firm, crumbly clay and dark gray
-green clay
632
690
210.37
Mixed soft dark gray-green clay and fine lithic tuff
680
760
231.71
Light gray-green fine lithic tuff with quartz eyes and
trace biotite
623
770
234.76
Mixed lithic tuff and gray-brown medium firm clay
725
780
237.8
Gray-brown, medium firm clay
777
790
240.85
Medium gray-green ash to fine lithic tuff. Trace
pyrite/sulfide
615
810
246.95
Mixed medium to dark gray-green clay
684
A total of 143 additional sediment samples were collected from hole GEM22-03 representing the
clay zones intersected to date between 300 and 1,280 feet (91.46 to 390.24 metres) and those
samples have been submitted to ALS Group
USA
in
Reno, Nevada
.
Groundwater samples exhibiting elevated conductivity and total dissolved solids have been collected
in several zones beginning at 500 feet (152.44 metres) with the most recent groundwater sample
collected at 1,360 feet (414.63 metres). Twenty-three groundwater samples were submitted to
Western Environmental Laboratories in
Reno, Nevada
for analysis.
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 Phase 1 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 time domain
electromagnetic ("TDEM") surveys. The results from the first two holes at Gemini represented a new
discovery of lithium-bearing sediments and a lithium-bearing brine in the western Lida Valley, which
has not been historically drill tested for lithium mineralization (see Nevada Sunrise news release
dated
June 6, 2022
).
The Company's Phase 2 drilling program is designed to expand the footprint of the lithium
mineralization encountered to date. Following a holiday break in the third week of December, drilling
is planned to continue into the First Quarter of 2023. To date, high-grade lithium-bearing sediments
have been intersected over a strike length of 1.14 miles (1.83 kilometres) and the current
geophysical model suggests the presence of many highly-prospective drill targets at Gemini.
For further information on Gemini, including location maps and photos
click here
About Gemini
Gemini consists of 582 unpatented placer and lode claims (covering about nine square miles)
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.
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 are in place at Gemini with an active drilling permit for up to 12 holes, good until
July 2024
.
Sampling and Analytical QA/QC and Statement of Qualified Person
Sediment samples described in this new release were submitted to American Assay Laboratories in
Sparks, Nevada
, 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 Copaur Minerals Inc. 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.
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 and
results 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 Nine Months Ended
June 30
, 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.
SOURCE
Nevada Sunrise Metals Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2022/06/c0251.html
%SEDAR: 00026824E
For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, email: [email protected] or Jason Powell, Corporate Communications,
Telephone: (604) 779-6497, email: [email protected]
CO: Nevada Sunrise Metals Corporation
CNW 07:30e 06-DEC-22