TSXV: NEV
VANCOUVER, BC, March 15,
2022 /CNW/ - Nevada Sunrise Gold Corp. ("Nevada
Sunrise", or the "Company") (TSXV: NEV) is pleased to
announce that an inaugural drilling program has commenced at its
100%-owned Gemini Lithium Project ("Gemini", or the "Project"),
located in the Lida Valley basin in Esmeralda County, Nevada.
2022 Drilling Program
Nevada Sunrise plans up to 3,500 feet (1,067 metres) of reverse
circulation drilling on untested geophysical anomalies identified
by ground gravity and electromagnetic surveys. The first hole
of the 2020 program is GEM22-01, as shown in the figure below,
which is targeting the largest conductive anomaly. The exploration
objectives for the Gemini West target are twofold: testing the
conductive zones for lithium brines at depth and analyzing for
lithium-in-sediments, which has never been tested in the western
Lida Valley. Drilling is anticipated to continue until the end of
March 2022.
About Gemini
Gemini consists of 119 unpatented placer
claims totaling 2,380 acres (963 hectares) 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. 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 are 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.
For further information on Gemini, including location maps and
photos click here
Qualified Person
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