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Nevada Sunrise Gold Corporation (TSXV:NEV) announced it has entered into a definitive agreement for an option to purchase a 100% interest in the Jackson Wash lithium exploration property, located in the Jackson Valley in Esmeralda County, Nevada.
Nevada Sunrise Gold Corporation (TSXV:NEV) announced it has entered into a definitive agreement for an option to purchase a 100% interest in the Jackson Wash lithium exploration property, located in the Jackson Valley in Esmeralda County, Nevada.
As quoted in the press release:
About the Jackson Wash Property
Jackson Wash consists of 130 unpatented placer claims totaling approximately 2,600 acres (1,052 hectares) and is located on the east side of the Montezuma Range approximately 20 miles (30 kilometers) southeast of the Silver Peak lithium brine mine operated by Albemarle Corporation (ALB: NYSE) and 13 miles (21 kilometers) southwest of Goldfield, the Esmeralda County seat.
Historical exploration on the Property in 2011 discovered widespread deposits of obsidian fragments on the valley floor, possibly derived from Tertiary felsic rhyolite and tuff volcanic rock units present in the Montezuma Range to the north and west of Jackson Wash. Fragments at six locations were sampled and returned lithium values ranging from 97.3 parts per million (“ppm”) lithium to 117.0 ppm lithium (R. M. Allender, Jr., 2011). Weathering of the felsic volcanic rocks containing lithium is believed to be the source of lithium contained in subterranean brines.
The results of a detailed gravity survey and two CSAMT lines surveyed in 2011 by a previous operator were interpreted as a layered sequence of unconsolidated, saturated alluvial sediments filling a deep basin beneath the valley floor. The Jackson Wash basin is believed to be related to north-south basin and range fault systems. Drilling and sampling of the sediments and groundwater in the interpreted basin are the next steps in the exploration process for Jackson Wash. Nevada Sunrise is planning the first test of the Jackson Wash basin with a 3 to 4-hole drill program of holes up to 400 metres deep to test specific structural and stratigraphic targets believed prospective for lithium brine deposits.
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