VANCOUVER, BC, Nov. 20,
2023 /CNW/ - Nevada Sunrise Metals Corp. ("Nevada
Sunrise", or the "Company") (TSXV: NEV) (OTC:
NVSGF) is pleased to announce that its joint venture partner,
CopAur Minerals Inc., has reported final results from the 2023
drilling program at the Kinsley Mountain Gold Project ("Kinsley
Mountain" or the "Project") in Elko
County, Nevada.
Diamond drill hole KMD23-02, targeting resource infill at
the high-grade Western Flank Zone, returned 15.28 grams per
tonne ("g/t") gold over 32.3 metres; including 24.07 g/t gold over
10.7 metres (Table 1 and Figures 1 and 2). This result, in
conjunction with prior drilling in 2020 by the Kinsley Mountain
joint venture that yielded high-grade sulphide gold intercepts at
depth, reinforces the continuity and exceptionally high-grade
nature of Secret Canyon shale-hosted sulphide gold mineralization.
The Western Flank Zone is interpreted by CopAur to remain open
along corridors to the north, west and east, which CopAur, as
operator of exploration at Kinsley Mountain, plans to continue to
test with additional drilling.
Table 1. Kinsley Mountain Final 2023 Diamond Drilling
Results
Hole
ID
|
Zone
|
From
|
To
|
Interval
(metres)*
|
Gold
Value
(g/t)*
|
(Dip/Azimuth)
|
(metres)
|
(metres)
|
KMD23-02
(-80/185)
|
Western
Flank Zone
|
254.5
|
286.8
|
32.3
|
15.28
|
including
|
254.5
|
257.9
|
3.4
|
45.19
|
including
|
265.5
|
276.2
|
10.7
|
24.07
|
*
True widths of the mineralized intervals are interpreted to be
between 60-90% of the reported lengths.
|
Diamond drill hole KMD23-03, targeting an untested
geophysical anomaly, intersected a greater than 80 metre core
length fault-bounded interval of the Secret Canyon Shale. This
interval contained anomalous arsenic pathfinder values but did not
return significant gold values.
Summary of the 2023 Exploration
Program at Kinsley Mountain
A total of seven (7) reverse circulation ("RC") drill holes and
three (3) diamond drill holes comprising 2,285 metres (7,495 feet)
were completed in 2023 at the high-grade Western Flank Zone (see
Figure 1 below), the Main Pit North, and the Kinsley Ridge target.
All samples, including QA/QC samples, were shipped to ALS Global in
North Vancouver, British Columbia,
Canada for multi-element analysis and fire assay for gold.
Figure 1. Kinsley Mountain 2023 RC and Diamond
Drilling Locations
Figure 2. Western Flank Zone: Holes KMD23-01 and
KMD23-02 Cross Section (looking east)
Methodology and QA/QC
Assaying was performed by ALS Global ("ALS"), of Vancouver, Canada. ALS is an ISO-IEC
17025:2017 and ISO 9001:2015 accredited analytical laboratory that
is independent of CopAur, Nevada Sunrise, and their respective
Qualified Persons. Drill core and RC drill samples were subject to
crushing to a minimum of 70% passing 2 mm, followed by pulverizing
of a 250-gram split to 85% passing 75 microns. Gold determination
was via standard 30-gram fire-assay analysis with atomic absorption
spectroscopy ("AAS") finish, in addition to 51 element ICP-MS.
Samples returning greater than 10 g/t gold are subject to
gravimetric finish. Gold values returning greater than 0.1 g/t gold
are also subject to leach analysis where the sample is treated with
a 0.25% NaCN solution and rolled for an hour. An aliquot of the
final leach solution is then centrifuged and analyzed by AAS.
CopAur reports that it follows industry standard procedures for
the work carried out on the Project, with a quality
assurance/quality control (QA/QC) program. Blank, duplicate, and
standard samples were inserted into the sample sequence sent to the
laboratory for analysis. CopAur states it detected no significant
QA/QC issues during its review of the 2023 data, and reports that
it is not aware of any drilling, sampling, recovery, or other
factors that could materially affect the accuracy or reliability of
the data referred to herein.
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, who is a
Qualified Person for Nevada Sunrise as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects.
About Kinsley Mountain
Kinsley Mountain hosts a historic past-producing mine that
yielded 138,000 ounces of near-surface, open-pit oxide gold mined
by Alta Gold Company between 1995-1999.
The Project hosts current indicated mineral resources comprising
a National Instrument 43-101 compliant gold resource consisting of
418,000 indicated ounces of gold grading 2.63 g/t gold (4.95
million tonnes), and 117,000 inferred ounces of gold
averaging 1.51 g/t gold (2.44 million tonnes), at cut-off
grades ranging from 0.2 to 2.0 g/t gold1.
Indicated resources are inclusive of 302,000 ounces averaging
6.11 g/t gold hosted within the Secret Canyon Shale at the
Western Flank Zone1.
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 and Gary L. Simmons, and filed under New Placer Dome Gold
Corp.'s issuer profile on SEDAR
(www.sedar.com).
|
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 lithium, gold, and copper exploration projects located
in the State of Nevada, USA.
Nevada Sunrise owns 100% interests in the Gemini,
Jackson Wash and Badlands
lithium projects, all of which are located in the Lida Valley in
Esmeralda County, NV.
The Company owns Nevada
water right Permit 86863, also located in the Lida Valley
basin, near Lida, NV.
The Company's key gold asset is at the Kinsley Mountain Gold
Project near Wendover,
NV, in a joint venture with CopAur Minerals Inc. Due
to its current focus on lithium exploration and development in
Nevada, the Company elected not to
contribute to the 2023 exploration program at Kinsley Mountain and
will incur dilution of its participating interest in the joint
venture to an approximate 19.0% interest.
Nevada Sunrise has the right to earn a 100% interest in the
Coronado VMS Project, located approximately 48 kilometers
(30 miles) southeast of Winnemucca,
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
interpretation and actual results of historical production at
Kinsley Mountain, reliance on technical information provided by
third parties on any of our exploration properties, including
access to historical information on the Kinsley Mountain property
as well as specific historical data associated with drill results
from the property, information received from CopAur Minerals Inc.,
current exploration and development activities; 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; failure of CopAur Minerals Inc. to complete anticipated
work programs; labor disputes and other risks of the mining
industry; 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 Nine Months ended
June 30, 2023, 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.
SOURCE Nevada Sunrise Metals Corporation