Nevada Sunrise samples up to 1.81% cobalt, 3.05% nickel and 5.99% copper at Lovelock Cobalt Mine in Nevada and identifies deep geophysical target
Nevada Sunrise samples up to 1.81% cobalt, 3.05% nickel and 5.99% copper at
Lovelock Cobalt Mine in Nevada and identifies deep geophysical target
TSX Venture Exchange: NEV
VANCOUVER, Jan. 18, 2018 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) is pleased to announce it has received the results of an initial geochemical rock
sampling program and a reconnaissance geophysical survey at the historic Lovelock Cobalt Mine (the
"Lovelock Mine", or the "Property"), located in Churchill and Pershing Counties, approximately 100 miles
(150 kilometres) east of Reno, Nevada. Nevada Sunrise has an option to earn a 100% interest in the
Lovelock Mine (see Nevada Sunrise news release dated December 29, 2017).
Geochemical Sampling
Nevada Sunrise carried out two site visits to the Lovelock Mine in November and December 2017 and
collected representative grab rock samples of historical mine waste, and various bedrock samples at the
Lovelock Mine and in the areas of other nearby historical adits. The analytical results of several of the
rock samples show strong enrichment in cobalt, nickel and copper, and other metals, as shown in the
highlights below:
Sample
No. Location Cobalt
(%)
Nickel
(%)
Copper
(%)
Zinc
(%)
Silver
(g/t)
Gold
(g/t)
LCoR-5 Lovelock Mine adit 1.81 3.05 0.65 0.03 32 0.01
LCoR-7 Lovelock Mine waste 0.41 0.22 4.91 0.10 48 trace
LCoR-4 Lovelock Mine waste 0.21 1.64 5.99 0.04 68 0.52
LBP-06 Lovelock Mine waste 0.12 0.32 1.46 0.22 379 0.98
LBP-05 Lovelock Mine waste 0.10 0.35 trace 0.03 trace trace
LCoR-6 Lovelock Mine waste 0.09 0.14 1.76 0.04 15 trace
LL-004 Lovelock Mine waste 0.08 0.09 1.26 0.03 16 trace
Geophysical Survey
In December 2017, an initial 4.2 kilometre (2.6 miles) reconnaissance DC resistivity/induced polarization
("DC-IP") survey by SJ Geophysics of Delta, BC, consisting of stations spaced 25 to 50 metres (80-160
feet) apart on five lines was completed across the Lovelock Mine area. This DC-IP survey is projected to
have a depth of investigation deeper than the mining to the 100-foot level reported in the 1880s. To view
a 3-D figure of the survey results with proposed drill holes click here.
The results of the survey not only detected the historic, near-surface mine workings and interpreted
alteration (red areas on figure), but also show chargeability features (green areas on figure) related to
structure and possible mineralization to a depth from surface of approximately 200 metres (656 feet).
"Our initial work at the Lovelock Mine is simply the first glance at an area with potential for hosting new
cobalt, nickel and copper deposits," said Warren Stanyer, President and CEO of Nevada Sunrise. "Our
regional research is revealing a mineral-rich district that has been overlooked and underexplored for
decades."
Nevada Sunrise intends to apply to the U.S. Bureau of Land Management for an exploration permit within
the next 30 days, and plans a first-pass drilling program in the spring of 2018 on the targets defined to
date.
About the Lovelock Mine
The Property currently consists of 70 unpatented lode claims in the Cottonwood Canyon area of the
Stillwater Range totaling approximately 1,400 acres (567 hectares).
The Lovelock Mine was reportedly discovered by George Lovelock and Charles Bell about 1880.
According to U.S. Government annual reports, limited production of nickel, copper and cobalt began in
1883. The primary cobalt mineral was identified as "cobaltite", a compound of cobalt, sulphur and arsenic
with some nickel replacement of cobalt normal. Records of a geochemical analysis from that era indicate
that the average composition of the cobaltite contained 17.30% cobalt and 13.62% nickel. The mine
operated from 1883 to 1890 to the 100-foot level, reporting 500 tons of concentrated cobalt and nickel
mineralized material shipped to Britain for processing. After intermittent production, a British company
attempted smelting on site in 1898 but the smelter suffered equipment failures and production ceased.
(Source: "Mineral Resources of the United States for 1885", 1886). No further production from the
Lovelock Mine is known for well over a century.
For further information about the Lovelock Mine, including scanned copies of certain historical reports
produced by the Nevada Bureau of Mines and precursors of the United States Geological Survey, please
visit the Company's website at: http://www.nevadasunrise.ca/projects/lovelock-cobalt-mine/
Geology and Mineralization of the Lovelock Mine
The rocks of the Lovelock Mine area include highly-altered sedimentary and volcanic rocks cut by a larger
mass of diorite and by aplitic dikes, all of which are highly altered. The altered volcanic rocks lie in a
syncline bordered on the west, north and east by the altered sedimentary rocks. Probable faults, inferred
from the nature of the contacts, form the boundaries between the sedimentary and volcanic rocks
northwest of the Lovelock Mine.
The cobalt and nickel minerals identified at the Lovelock Mine and the nearby Nickel Mine occur in
stringers that cut the rock immediately surrounding the diorite. In the case of the Lovelock Mine, the
stringers cut a highly-altered greenstone. The minerals recognized are tetrahedrite, erythrite (cobalt
bloom), azurite, and green crusts that contain copper and nickel arsenates and sulphates. Other sources
reported the principal mineral present is cobaltite. It was postulated by historical observers that there has
been post-mineral faulting with downthrow on the west, and that the extension of the productive zone is
west of the Lovelock Mine shaft and at greater depth than the historical workings could reach (Source:
"Nickel Deposits in Cottonwood Canyon, Churchill County, Nevada", H.G. Ferguson, 1939).
Geochemical analyses were performed by Bureau Veritas of Vancouver, BC, Canada, with a 53-element
analytical package by ICP-MS after modified aqua regia digestion, following sample crushing and
preparation in the Bureau Veritas, Reno, Nevada facility. Overlimit samples were reanalyzed by ICP-ES
by HNO3-HCl acid digestion.
Robert M. Allender, Jr., CPG, RG, SME is the Company's designated Qualified Person for this news
release within the meaning of National Instrument 43-101 and has reviewed and approved the technical
information contained herein. Readers are cautioned that some of the technical information described in
this news release is historical in nature; however, the information is deemed credible and was produced
by professional geologists of the eras discussed.
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, lithium and cobalt mineral exploration projects in the
State of Nevada, USA.
The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah,
currently the subject of a transaction with Emgold Mining Corporation (TSXV: EMR) and a 21% interest in
a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD, formerly Pilot Gold Inc.) near
Wendover, with each of the properties subject to certain production royalties.
Nevada Sunrise began acquisitions of Nevada lithium properties in 2015, which includes 100% interests
in the Neptune, Jackson Wash and Aquarius projects, a 50% interest in the Gemini project (Eureka
Resources Inc. (TSXV: EUK) holds a 50% interest), and the right to earn 100% of the Atlantis
project, currently under option to American Lithium Corp. (TSXV: LI). For further information on the
Nevada lithium projects operated by the Company, including location maps, please visit the Nevada
Sunrise website at: "Projects – Nevada Lithium": http://www.nevadasunrise.ca/projects/nevadalithium/
In December 2017, Nevada Sunrise announced a definitive agreement to earn a 100% interest in the
historic Lovelock Cobalt Mine property, located approximately 100 miles (150 kilometres) east of Reno.
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 and other metals and minerals, potential quantity and/or grade
of minerals, potential size of a mineralized zone, potential expansion of mineralization, the timin g and
results of current or future mineral 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 phrase s 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 historical work
at the Lovelock Mine property, reliance on technical information provided by third parties on any of our
exploration properties, including access to historical information on the Lovelock Mine property, current
exploration and development activities; 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;
failure of Nevada Sunrise to complete anticipated work programs; labor disputes and other risks of the
mining industry; 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, 2017, 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.
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 statements 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 wi th 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 responsibility for the adequacy of 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
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/January2018/18/c6781.html
%SEDAR: 00026824E
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 484-7143, email: [email protected], Website:
www.nevadasunrise.ca
CO: Nevada Sunrise Gold Corporation
CNW 08:30e 18-JAN-18