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
,
Oct. 7, 2020
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or
the "Company") (TSXV: NEV) is pleased to announce that its joint venture partner New Placer Dome
Gold Corp. ("New Placer Dome", TSXV: NGLD) has provided an update on drilling progress at the
Kinsley Mountain Gold Project ("Kinsley Mountain"), located 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.
As of
October 1, 2020
, New Placer Dome reports a total of 17 reverse circulation ("RC") drill holes
totaling 6,767 metres (22,200 feet) and five diamond drill core holes totaling 2,217 metres (7,274
feet) have been completed at Kinsley Mountain. Over 2,500 samples from nine RC drill holes
(KMR20-004 through KMR 20-009, and KMR20-015 through KMR20-017) totaling 4,824 metres of
drilling have recently arrived at the ALS Geochemistry laboratory in
North Vancouver, BC
. These
samples represent RC holes from the high-grade Western Flank Gold Zone and the Kinsley
Northwest Fault Big Bend areas.
About Kinsley Mountain
Kinsley Mountain is a Carlin-style gold project hosting a N.I. 43-1010 compliant gold resource
consisting of
418,000 indicated ounces of gold grading 2.63 grams/tonne ("g/t") gold (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 gold
1
.
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
).
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.
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
.
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 07-OCT-20