Nevada Sunrise Update on Kinsley Mountain Gold Project Drilling Program in Nevada
Nevada Sunrise Update on Kinsley Mountain
Gold Project Drilling Program in Nevada
TSX Venture Exchange: NEV
VANCOUVER, BC
,
Aug. 27, 2020
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or
the "Company") (TSXV: NEV) is pleased to announce that it has received an update from its joint
venture partner New Placer Dome Gold Corp. ("New Placer Dome", TSXV: NGLD) on drilling
progress at the Kinsley Mountain Gold Project ("Kinsley Mountain"), near
Wendover, Nevada
, USA.
Nevada Sunrise holds a 20.01% interest in Kinsley Mountain, with New Placer Dome, as operator,
holding a 79.99% interest.
New Placer Dome reports that over 1,500 metres of reverse circulation ("RC") drilling has been
completed in six holes at Kinsley Mountain, and that the drilling rate at Kinsley Mountain is now
poised to increase with the addition of a diamond drill rig. New Placer Dome also expects to mobilize
a second, larger truck-mounted RC drill rig to Kinsley Mountain by early
September 2020
.
The initial drilling at Kinsley Mountain is focused on expanding the high-grade Western Flank Gold
Zone, which hosts a
1.54 million tonne indicated resource containing 302,000 ounces of gold
at a grade of 6.11 grams per tonne
1
. New Placer Dome reports that the current Western Flank
RC drilling has intersected pyrite-mineralized Secret Canyon shale lithologies that appear visually
similar to historical well-mineralized drill intercepts.
1
Technical Report and updated estimate of mineral resources on the Kinsley Project,
Elko County,
Nevada
, U.S.A., effective
January 15, 2020
and prepared by
Michael M. Gustin
, Ph.D., CPG,
Moira
Smith
, Ph.D., P.Geo. and
Gary L. Simmons
, MMSA under New Placer Dome Gold Corp.'s Issuer
Profile on SEDAR (
www.sedar.com
).
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.
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% interest in a joint venture with New Placer Dome Gold
Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near
Wendover
, with the property subject
to a 3.0% net smelter returns royalty.
Nevada Sunrise has the right to earn a 100% interest in the historic Lovelock Cobalt Mine and
Treasure Box
copper property, each located approximately 150 kilometers (100 miles) east of
Reno
, both of which are currently under option to Global Energy Metals Corp. (TSXV: GEMC) who
can earn up to an 85% participating interest from the Company. In
September 2018
, Nevada
Sunrise acquired the right to earn a 100% interest in the Coronado VMS Project, located in
Pershing
County
, approximately 48 kilometers (30 miles) southeast of
Winnemucca
.
Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of
which are located in
Esmeralda County
. The Company owns Nevada water right Permit 44411,
located within the Clayton Valley basin near Silver Peak,
Nevada
.
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. 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.
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
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For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile:
(604) 684-9365, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 07:30e 27-AUG-20