VANCOUVER, BC, April 28,
2022 /CNW/ - Nevada Sunrise Gold Corp.
("Nevada Sunrise", or the "Company") (TSXV: NEV) is pleased to
announce that a wider and higher-grade intersection of lithium
mineralization has been determined in the inaugural drilling
program at its 100%-owned Gemini Lithium Project ("Gemini"),
located in the Lida Valley basin in Esmeralda County, Nevada. Additional analyses
from borehole GEM22-01 received this week have extended the length
of the previously-reported mineralized intersection and improved
the lithium grade to 1,203.41 parts per million ("ppm") lithium
over 580 feet (176.83 metres), including 1,578.19 ppm
lithium over 300 feet (91.46 metres).
2022 Drilling Program
Nevada Sunrise drilled two reverse circulation ("RC") boreholes
for a total of 2,020 feet (615.85 metres) in its maiden drilling
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
electromagnetic ("EM") surveys. The initial results represent a new
discovery of lithium-bearing sediments in the western Lida Valley,
which has not been historically drill tested for lithium
mineralization.
Borehole GEM22-01 intersected a lithium-bearing clay
layer at 320 feet (97.56 metres) and in early April 2022, the Company rushed samples collected
from 320 to 520 feet to determine its fertility (see Nevada Sunrise
news release dated April 21,
2022: "Nevada Sunrise Intersects 950 ppm Lithium over 200 Feet
in Maiden Drilling Program at the Gemini Lithium Project,
Nevada"). Additional samples
collected over 20-foot intervals1 below the 520-foot
level to the end of hole at 900 feet were processed within a larger
batch of 210 composite sediment samples submitted to ALS Group
USA ("ALS"), in Reno, Nevada, and produced the results shown
in Table 1 below:
Table 1. Final analytical results from borehole
GEM22-01
GEM22-01 Lithium
Mineralization
|
Interval
|
Length (ft)
|
Interval
|
Length (m)
|
Li
(weighted avg.
ppm)
|
From
(ft)
|
To
(ft)
|
From
(m)
|
To
(m)
|
320
|
900
|
580
|
97.56
|
274.39
|
176.83
|
1,203.41
|
including:
|
480
|
780
|
300
|
146.34
|
237.8
|
91.46
|
1,578.19
|
1 Samples are a composite of material
collected from the rotary splitter in the RC drilling rig, which
produces a continuous, representative 3 to 5 kilogram sample for
each 20-foot interval.
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 fertile clay
layer. Representative samples were submitted in a 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), including 1,133.1 ppm lithium over 40
feet (12.20 metres) from 480 to 520 feet (146.34 to 158.54
metres). The analytical results for an additional 131
samples from GEM22-02 are still pending.
Electromagnetic Survey Results
Showing Conductive Zones and 2022 Drill Holes at
Gemini
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 268 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 EM surveys are planned in the spring of 2022 within the
gravity low to further map the conductive layers first detected by
Nevada Sunrise in 2016.
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. The additional
samples reported in this document were processed by ALS on a
standard turn-around and analyzed with similar multi-element ICP-MS
methods. Specifically, the analytical method involves aqua regia
digestion of the sample followed by the inductively coupled plasma
(ICP) technique to ionize the sample, and spectrometry 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.
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
Company's 2022 exploration plans 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 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