VANCOUVER, B.C., April 21,
2022 /CNW/ - Nevada Sunrise Gold Corp.
("Nevada Sunrise", or the "Company") (TSXV: NEV) is pleased to
announce that lithium mineralization has been intersected over
significant widths in the inaugural drilling program at its
100%-owned Gemini Lithium Project ("Gemini"), located in the Lida
Valley basin in Esmeralda County,
Nevada. Drilling began in the second week of March 2022 and concluded in the first week of
April 2022. Two boreholes were
completed for a total of 2,020 feet (615.85 metres) on drill sites
located within a defined gravity low that hosts conductive layers
detected by historical ground electromagnetic ("EM") surveys.
2022 Drilling Program
Borehole GEM22-01 was drilled to a depth of 900 feet
and was terminated in a black, sticky clay that impeded further
drilling progress. At 320 feet (97.56 metres), Nevada Sunrise's
exploration team observed the presence of a clay layer similar to
clay encountered in the Company's 2016-2017 exploration drilling in
the Clayton Valley that had carried values of up to 1,400 parts per
million ("ppm") lithium. Fourteen samples taken at 20-foot
intervals between a depth of 380 feet (115.85 metres) and 520 feet
(158.54 metres) from the Gemini clay layer were processed on a rush
basis in April 2022 and returned a
weighted-average value of 1,177.6 ppm lithium over 140 feet
(42.68 metres). Concentrations within this interval ranged
from a low of 746.9 ppm lithium to a high value of 1,950.6 ppm
lithium. This initial result represents a new discovery of
lithium-bearing sediments in the western Lida Valley, which has not
been historically drill tested for lithium mineralization.
A second suite of samples was subsequently submitted from the
upper clay layer in borehole GEM22-01, which was observed to
contain intermittent brown clays and tuffaceous ash layers. The
analytical result was the recognition of another mineralized zone
averaging 295.45 ppm lithium over 60 feet (18.29 metres) from 320
feet (97.56 metres) to 380 feet depth (115.85 metres). When the two
consecutive layers from GEM22-01 are combined, the result is a
continuously-mineralized interval of 200 feet (60.98 metres) from
320 to 520 feet (97.56 to 158.54 metres) averaging 950.57 ppm
lithium.
Borehole GEM22-02 was drilled to a depth of 1,120
feet (341.5 metres) at a location approximately 0.69 miles (1.1
kilometre) south of GEM22-01 and also encountered the brown
clay/tuffaceous ash layer and the green clay layer. Representative
samples from each layer were submitted in the second suite of rush
samples and returned weighted-average values of 775.9 ppm
lithium over 130 feet (39.63 metres) from 390 to 520 feet
(118.90 to 158.54 metres) (see Table 1 below for results from
GEM22-01 and GEM22-02).
The initial analytical results from boreholes GEM22-01 and
GEM22-02 suggest that the lithium-bearing clay layers at Gemini may
be widespread. Additional drilling is planned following receipt of
an amendment to the current Bureau of Land Management drilling
permit, which will be required to cover the Company's
newly-expanded land position. In April
2022, Nevada Sunrise staked 258 lode claims totaling 5,420
acres (2,193.4 hectares) over the outline of the gravity low to
effectively cover the possible extent of the lithium-bearing clay
layers. Follow-up geophysical surveys are planned in 2022 within
the gravity low to further map the conductive layers detected by
Nevada Sunrise in 2016.
Table 1. Lithium Results from Boreholes GEM22-01 and
GEM22-02
GEM22-01 Lithium Mineralization
|
Lithium
(ppm)
|
Interval
(ft)
|
Length (ft)
|
Interval
(m)
|
Length (m)
|
From
|
To
|
From
|
To
|
950.57
|
320
|
520
|
200
|
97.56
|
158.54
|
60.98
|
Including 1,177.61
|
380
|
520
|
140
|
115.85
|
158.54
|
42.68
|
and
1,675.21
|
480
|
520
|
40
|
146.34
|
158.54
|
12.20
|
|
|
|
|
|
|
|
GEM22-02 Lithium Mineralization
|
Lithium
(ppm)
|
Interval
(ft)
|
Length (ft)
|
Interval
(m)
|
Length (m)
|
From
|
To
|
From
|
To
|
775.9
|
390
|
520
|
130
|
118.90
|
158.54
|
39.63
|
Including 1,133.1
|
480
|
520
|
40
|
146.34
|
158.54
|
12.20
|
The Company's exploration objectives for Gemini are twofold:
testing the conductive zones for lithium brines at depth and
analyzing drill cuttings for lithium-in-sediments. A total of 37
sediment samples were submitted to American Assay Laboratories
("American Assay") for analysis on a rush basis, and 210 sediment
samples were submitted to ALS Group USA ("ALS"), with both laboratories located in
Reno, Nevada.
Thirty-seven (37) water samples were taken at certain levels
within the boreholes where the drilling encountered formation
water. These samples were submitted to WETLabs in Reno, Nevada for testing of general chemical
parameters and selected metals. The water flows were not
significant and no brines were detected in either of the 2022
boreholes. The potential for brines exists at Gemini but may be
located at greater depths than were tested in the 2022 spring
drilling program.
For further information on Gemini, including location maps and
photos click here
About Gemini
Gemini consists of 387 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 new
unpatented claims in March 2022, and
268 additional unpatented claims in April
2022. 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. Drill pads and
access roads remain 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 the laws
of Nevada, water cannot be pumped
from a subterranean source without a valid water permit.
Sampling and Analytical QA/QC and Statement of Qualified
Person
Sediment samples were shipped to American Assay and to ALS. The
rush samples reported in this document were analyzed at American
Assay utilizing a multi-element ICP-MS method. ALS will employ
similar multi-element ICP-MS methods on the standard turnaround
samples. Duplicates, filed 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.
The Company's key gold asset is a 20.01% interest in a joint
venture with New Placer Dome Gold Corp. (TSXV: NGLD) 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. (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
Gemini Lithium Project 2022 exploration plans; 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 December
31, 2021, 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