Gold

Nevada Sunrise Metals

Nevada Sunrise Metals

TSXV:NEV

Developing High-Quality Mineral Exploration Projects in Nevada

Company Highlights

  • Nevada Sunrise Metals is a mineral exploration company focused on developing and acquiring highly prospective projects in the mining-friendly jurisdiction of Nevada.
  • The company’s flagship asset, the Gemini Lithium Project consists of 582 unpatented lode and placer claims covering approximately 5,700 acres (2,307 hectares) located in the Lida Valley about 6 miles (10 kilometers) east of the town of Lida, Nevada. Nevada Sunrise acquired Gemini by claim staking in 2015 with no applicable royalties, and currently holds a 100 percent interest in the project.
  • The primary gold asset is its share of the Kinsley Mountain gold project. According to recent figures from the Nevada Division of Minerals, gold production in Nevada totaled more than 4.63 million ounces in 2020, which put the value of the gold at nearly US$8.2 billion, up 20.9 percent from 2019.
  • Its project portfolio also includes the Jackson Wash lithium property in the Lida Valley, the Lovelock Cobalt Mine property, the Treasure Box copper property, and the Coronado VMS property.
  • The Coronado VMS copper project is prospective for volcanogenic massive sulphide (VMS) deposits, with a historical open pit copper mine located nearby. Nevada Sunrise is currently exploring the potential for VMS deposits on the property.
  • The company owns valuable water rights within the Lida Valley basin.
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Overview

The State of Nevada offers much more than deserts and playing your luck along the famous Las Vegas strip. For companies looking to bet on highly prospective mining opportunities, this resource-rich area offers a very attractive hand.

Operating out of Nevada offers a great discovery potential for mining companies and their investors. Aside from being a top mining jurisdiction, Nevada hosts existing infrastructure, a local skilled workforce and favorable weather so mining operations can run near year-round.

Nevada Sunrise Metals (TSXV:NEV) is a junior mineral exploration company focused on exploring a robust portfolio of gold, copper, cobalt and lithium projects, exclusively in Nevada.

Nevada Sunrise maintains interests in several highly prospective mineral exploration properties and water rights in Nevada. This portfolio includes the company’s flagship Kinsley Mountain gold project, the Lovelock Cobalt Mine property, the Treasure Box copper property and the Coronado VMS property. The company also operates the Jackson Wash and Gemini lithium brine exploration properties in the Lida Valley in Esmeralda County.


Kinsley Mountain operates as a joint venture with CopAur Minerals (TSXV:CPAU), with Nevada Sunrise holding a 20.01 percent interest in the project. “There is significant upside potential for new high-grade gold discoveries and for expansion of the footprint of known mineralization and contained resources at Kinsley,” states Nevada Sunrise CEO Warren Stanyer.

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Overview

The State of Nevada offers much more than deserts and playing your luck along the famous Las Vegas strip. For companies looking to bet on highly prospective mining opportunities, this resource-rich area offers a very attractive hand.

Operating out of Nevada offers a great discovery potential for mining companies and their investors. Aside from being a top mining jurisdiction, Nevada hosts existing infrastructure, a local skilled workforce and favorable weather so mining operations can run near year-round.

Nevada Sunrise Metals (TSXV:NEV) is a junior mineral exploration company focused on exploring a robust portfolio of gold, copper, cobalt and lithium projects, exclusively in Nevada.

Nevada Sunrise maintains interests in several highly prospective mineral exploration properties and water rights in Nevada. This portfolio includes the company’s flagship Kinsley Mountain gold project, the Lovelock Cobalt Mine property, the Treasure Box copper property and the Coronado VMS property. The company also operates the Jackson Wash and Gemini lithium brine exploration properties in the Lida Valley in Esmeralda County.


Kinsley Mountain operates as a joint venture with CopAur Minerals (TSXV:CPAU), with Nevada Sunrise holding a 20.01 percent interest in the project. “There is significant upside potential for new high-grade gold discoveries and for expansion of the footprint of known mineralization and contained resources at Kinsley,” states Nevada Sunrise CEO Warren Stanyer.

Kinsley Mountain

In June 2022, Nevada Sunrise Metals closed a non-brokered private placement for CAD$1.5 million. The company intends to use the proceeds from the placement toward funding exploration of its lithium, precious metals, and cobalt/copper properties in Nevada.

Additionally, the company understands the importance of water in conducting mining operations in Nevada. Nevada Sunrise currently owns water rights within the Lida Valley basin, which strategically positions the company to leverage these valuable natural resources.

The company’s expert leadership and technical team apply world-class exploration experience and technical skills to acquire and develop new highly prospective mineral exploration projects. This combination of experienced individuals primes the company for growth and exploration success.

Company Highlights

  • Nevada Sunrise Metals is a mineral exploration company focused on developing and acquiring highly prospective projects in the mining-friendly jurisdiction of Nevada.
  • The company’s flagship asset, the Gemini Lithium Project consists of 582 unpatented lode and placer claims covering approximately 5,700 acres (2,307 hectares) located in the Lida Valley about 6 miles (10 kilometers) east of the town of Lida, Nevada. Nevada Sunrise acquired Gemini by claim staking in 2015 with no applicable royalties, and currently holds a 100 percent interest in the project.
  • The primary gold asset is its share of the Kinsley Mountain gold project. According to recent figures from the Nevada Division of Minerals, gold production in Nevada totaled more than 4.63 million ounces in 2020, which put the value of the gold at nearly US$8.2 billion, up 20.9 percent from 2019.
  • Its project portfolio also includes the Jackson Wash lithium property in the Lida Valley, the Lovelock Cobalt Mine property, the Treasure Box copper property, and the Coronado VMS property.
  • The Coronado VMS copper project is prospective for volcanogenic massive sulphide (VMS) deposits, with a historical open pit copper mine located nearby. Nevada Sunrise is currently exploring the potential for VMS deposits on the property.
  • The company owns valuable water rights within the Lida Valley basin.

Key Projects

Gemini Lithium Project

The Gemini Lithium Project (Gemini) consists of 582 unpatented lode and placer claims covering approximately 5,700 acres (2,307 hectares) located in the Lida Valley, about 6 miles (10 kilometers) east of the town of Lida, Nevada. Nevada Sunrise acquired Gemini by claim staking in 2015 with no applicable royalties and currently holds a 100 percent interest in the project. 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 until 2033.

Gemini Lithium project

On March 15, 2022, Nevada Sunrise announced the commencement of the inaugural drilling program at Gemini of up to 2,020 feet (615,85 meters) of reverse circulation drilling in up to two holes, to test targets for lithium brines and lithium-in-sediments.

On April 21, 2022, the company announced that lithium mineralization had been intersected over significant widths in the 2022 drilling program. Two boreholes were completed for a total of 2,020 feet (615.85 meters) on drill sites located within a defined gravity low that hosts conductive layers detected by historical ground time-domain electromagnetic (TDEM) surveys.

The results from the first two boreholes at Gemini represent a new discovery of lithium-bearing sediments in the western Lida Valley, which has not been historically drill-tested for lithium mineralization. Lithium-in-sediment values were significant:

  • GEM22-01 averaged 1,203.41 parts per million (ppm) lithium over 580 feet (176.83 meters), from 320 to 900 feet (97.56 to 274.39 meters) including 1.578.19 ppm lithium over 300 feet (91.46 meters) from 480 to 780 feet (146 to 237.8 meters).
  • Gem22-02 averaged 1,101.73 ppm lithium over 730 feet (222.56 meters) from 390 to 1,120 feet (118.90 to 341 meters), including 2,217.69 ppm lithium over 130 feet (39.63 meters) from 990 to 1,120 feet ( 301.83 to 341.46 meters) and 3,304 ppm lithium over 50 feet (15.24 meters) from 1,070 to 1.120 feet (326.22 to 341.46 meters).

In addition to the lithium-in-sediments, Nevada Sunrise detected highly significant values of lithium in water samples collected from boreholes GEM22-01 and GEM22-02.

  • Water samples from borehole GEM-22-01 averaged 327.7 milligrams per litre lithium over 220 feet (67.07 meters) from 600 feet to 820 feet with a peak value of 519 milligrams per litre lithium.
  • Water samples from borehole GEM22-02 returned an average of 116.28 milligrams per liter lithium over 460 feet (140.24 meters) from 600 feet to 1,120 feet (201.22 meters to 341.46 meters) with a peak value of 286.0 milligrams per liter lithium.

Kinsley Mountain Gold Project

The Kinsley Mountain gold project is located in Elko County of Eastern Nevada and consists of 513 claims plus five leased patents totaling 4,160 hectares (10,280 acres).

Kinsley Mountain hosts Carlin-style, near-surface mineralization as well as a past-producing open pit mine with an extensive exploration database and numerous untested gold targets. Following exploration drilling carried out since 2011, current and compliant resource estimates calculated in 2020 state Kinsley Mountain hosts indicated resources of 418,000 ounces of gold grading 2.63 g/t gold and inferred resources of 117,000 ounces of gold averaging 1.51 g/t gold. These grades point to exciting upside potential for further discoveries and development for the project.

Kinsley Mountain Gold project

Coronado VMS Project

The Coronado VMS project consists of 133 unpatented claims covering approximately 1,104 hectares over an interpreted trend next to the historic Big Mike open-pit copper mine. Discovered in the 1960s, today Big Mike is classified as a VMS deposit. As these deposits commonly occur in clusters, there is good potential for the presence of other volcanogenic massive sulphide (VMS) deposits along trend from the past-producing mine.

Coronado VMS

In November 2020, the company concluded its second reconnaissance diamond drilling program. Drill collars were identified from the VTEM geophysical survey and a total of 250.76 meters was drilled in the two diamond drill holes. Each of the drill holes encountered difficulty penetrating through the overburden and viscous clay layers, and the bedrock targets were not intersected. A leading-edge soil sampling survey and the 2018 airborne geophysical survey show potential for sulphide mineralization that Nevada Sunrise intends to explore further in 2022-2023.

Lovelock Cobalt Mine Project

The Lovelock Cobalt Mine property currently consists of 70 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range, totaling approximately 567 hectares. In April 2020, Nevada Sunrise agreed to an accelerated ownership agreement with Global Energy Metals Corp. (TSXV:GEMC) for the Lovelock cobalt project, whereby Global Energy Metals purchased an 85 percent interest in the property and Nevada Sunrise retained a 15 percent interest.

In January 2018, the company completed an initial geochemical rock sampling program and a reconnaissance geophysical survey at the Lovelock mine. Geochemical sampling revealed a sample with promising mineralization of cobalt at 1.81 percent, nickel at 3.05 percent and copper at grades of 0.65 percent. Other samples saw copper grades of 4.91 percent and 5.99 percent. The geophysical survey results detected chargeability features related to structure and possible mineralization to a depth of approximately 200 meters.

In April 2022, Global Energy Metals released the results of its inaugural drilling program at the Lovelock Mine property. Three of the seven holes intersected mineralized rock. Most notable were holes LCo212, LCo214 and LCo215, drilled at the Lovelock Mine zone, the area directly correlated with old workings that supported historical underground mining of high-grade cobalt, nickel and copper. These holes intersected wide zones of mineralization with cobalt, nickel and copper in what has become a high-priority area for further exploration.

Nevada Sunrise and Global Energy Metals have a current exploration permit issued by the US Bureau of Land Management for exploration drilling to test this highly prospective asset.

Treasure Box Copper Project

The Treasure Box copper project consists of 56 unpatented lode claims over 453 hectares in the Stillwater Range near Lovelock, Nevada. The property hosts mine workings from limited copper production that occurred in the late 19th century into the early 20th century.

A historical diamond drill hole drilled at the Treasure Box in 1910 reportedly intersected 1.52 percent copper mineralization over 85 feet at surface. Additional drilling in 1976 returned 1.55 percent copper grades over 40 feet from a depth of 85 to 125 feet.

The Treasure Box claims are subject to the same terms of the Global Energy Metals option agreement for the Lovelock Cobalt Mine.

Nevada Water Rights

In 2017, the company obtained water rights from the State of Nevada totaling 80.09 acre/feet per year for mining and milling in the Lida Valley, located adjacent to the Clayton Valley in Esmeralda County.

Nevada Sunrise believes its acquisition of water rights is an important step for an exploration company searching for mineral deposits in the Clayton and Lida valleys. Without a source of water, mining and milling operations in Nevada are not possible.

Jackson Wash Lithium Project

Jackson Wash consists of 49 unpatented placer claims totaling approximately 980 acres (397 hectares) and is located in the Lida Valley. Nevada Sunrise owns a 100 percent interest in Jackson Wash.

The exploration target for Jackson Wash is a brine deposit at depth containing dissolved lithium. There is also potential for the presence of lithium-in-sediments at Jackson Wash. Past surveying revealed a layered sequence of unconsolidated, saturated alluvial sediments filling a deep basin beneath the valley floor. The next steps for the Jackson Wash lithium project include drilling and sampling the sediments and groundwater in the interpreted basin.

Jackson Wash Lithium

The exploration target for Gemini is a brine deposit at depth containing dissolved lithium. Detailed gravity survey results from 2013 indicated strong gravity lows within two faulted sub-basins approximately 7 kilometers apart and interpreted to be hundreds of meters deep. Likewise, the results from a 2016 TDEM survey interpret conductive brines at depth, located well below the non-conductive sediments at the surface.

Nevada Sunrise has a drilling permit to test for lithium brines at Gemini, good to June 2024.

Management Team

Warren W. Stanyer - President, CEO & Director

Warren Stanyer is a mineral exploration industry executive with over 25 years of experience in Canadian public company administration. He previously served as an officer of Pioneer Metals Corporation, which was acquired by Barrick Gold Corporation in 2006, and as an officer until 2007 of UEX Corporation (TSX:UEX). Stanyer was president, CEO and a director of Northern Continental Resources Inc., when it was acquired by Hathor Exploration Ltd. in November 2009, and in recent years as an officer and director of Alpha Minerals Inc., which was acquired by Fission Uranium Corp. (TSX:FCU) in 2013. He is currently chairman and CEO of ALX Resources Corp. (TSXV:AL).

Jonathan Fung - CPA, CFO

Jonathan Fung provides accounting, financial reporting and regulatory compliance services to publicly listed and private companies as a financial reporting manager at ACM Management. He obtained his Bachelor of Commerce degree in accounting from the University of British Columbia in 2013. Jonathan articled at D&H Group LLP Chartered Professional Accountants, where he provided accounting, assurance and income tax services to publicly listed and private companies. After working in Assurance Services at Ernst & Young LLP, he joined ACM Management Inc. of Vancouver, BC, in 2019. Fung is a member of the Chartered Professional Accountants of British Columbia.

Christina Boddy - Corporate Secretary

Christina Boddy is a member of the Canadian Society of Corporate Secretaries and has acted as corporate secretary for many public companies in recent years, including Resinco Capital Partners, Teslin River Resources, Cue Resources and Prophecy Platinum. Boddy acts as a consultant to public and private companies through Rhodanthe Corporate Services, a BC-based private company.

Michael D. Sweatman - Director & Chairman

Michael Sweatman is a chartered professional accountant and has operated MDS Management Ltd., a Vancouver-based management consulting company, since November 1992. He obtained his Bachelor of Arts degree in economics and commerce from Simon Fraser University, gained his CA designation in 1982 and is a CPA in British Columbia and the Yukon Territory. He has served as a director and officer of several public companies over the past 30 years and is currently a director at Lithoquest Resources. Sweatman is also the chairman of the Nevada Sunrise Audit Committee.

Charles E. Roy - Director

Charles Roy earned a B.Sc. in geology from Acadia University, Nova Scotia in 1972. Early in his career, Roy was employed by the mining engineering and geological consulting firm of David S. Robertson and Associates and worked in Canada, the United States and in Africa. In 1979, Roy joined a predecessor company of Cameco Corporation (TSX: CCO) as a project geologist, thus beginning a career with Cameco that would span 33 years. In 1988, he transferred to Cameco Gold and managed an exploration office in Reno, Nevada from 1991 to 1994. Roy returned to uranium exploration in 1994 and over the next 18 years managed exploration programs in the Athabasca Basin area of northern Canada. During this period Roy oversaw exploration teams that discovered and delineated seven significant uranium deposits, including Millennium. Later at Cameco, Roy worked to negotiate new exploration opportunities and helped to consolidate and streamline its worldwide exploration portfolio. Roy also serves as a Technical Advisor of ALX Resources Corp. (TSXV:AL).

Suraj P. Ahuja - Director

Suraj Ahuja, M.Sc., P.Geo., is president and principal geological consultant of SKAN Consulting Inc., based in West Vancouver, BC, Canada. Ahuja has over 40 years of mineral exploration and management experience in Canada, the U.S. and South America. Since 2001, he has provided consulting services to several major and junior exploration companies in Canada and overseas, and has designed, developed and managed successful mineral exploration programs from grassroots to detailed property evaluations, including mine geology and feasibility studies. Prior to forming his own company, Ahuja also worked for Saskatchewan Mining and Development Corporation, a predecessor company to Cameco Corporation, and PNC, a Japan-based uranium exploration company. He served as a director of UEX Corporation until its acquisition by Uranium Energy Corporation in 2022. Ahuja is a member of the Nevada Sunrise Audit Committee.

Cory H. Kent - Director

Cory H. Kent has been a lawyer and partner at McMillan LLP since February 2003, practicing in the area of securities and corporate law with a focus on companies in the mineral resources industry. Kent has an LLB from the University of British Columbia and Bachelor of Arts from Carleton University

*Disclaimer: This profile is sponsored by Nevada Sunrise Metals ( TSXV:NEV ). This profile provides information which was sourced by the Investing News Network (INN) and approved by Nevada Sunrise Metals in order to help investors learn more about the company. Nevada Sunrise Metals is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nevada Sunrise Metals and seek advice from a qualified investment advisor.

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