Nevada Sunrise Announces Neptune Property Lithium Exploration Update

Nevada Sunrise Gold Corporation (TSXV:NEV) announced an update on its current drilling program at the Neptune Lithium Project located in the southern Clayton Valley of Nevada, USA.
As quoted in the press release:

Nevada Sunrise has completed two exploration holes at Neptune. Hole N-2016-1 was drilled to a total depth of 1,500 feet (457 metres) targeting a conductive horizon detected by a historical (2011) controlled source audio magneto telluric (“CSAMT”) survey carried out by a previous operator. A second hole, N-2016-6 was abandoned in poor ground conditions at a depth of approximately 500 feet, and a new hole, N-2016-6R was drilled approximately 50 feet from the original site to a total depth of 1,760 feet (537 metres). In each of the completed holes, permeable sedimentary, lacustrine strata interbedded with volcanic ash and ejecta was logged at various levels throughout the holes. A total of 45 water samples and 256 sediment cuttings samples were collected and sent for multi-element analysis. Analytical results will be released after their receipt, compilation and interpretation.
Nevada Sunrise has completed the construction of two additional drill pads and plans to resume drilling on other targets developed from gravity surveys and CSAMT data shortly at Neptune, following the completion of a proposed transaction with its new option partner for the Project, Resolve Ventures Inc. (“Resolve”) (TSXV: RSV). Resolve has the option to earn an initial 25% working interest in Neptune from Nevada Sunrise, and up to a 50% working interest, after completing certain cash and share payments to Nevada Sunrise, and by incurring up to CDN$1.0 million in exploration expenditures over a 3-year period.

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