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TSX Venture Exchange: NEV
Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the " Company ") (TSXV: NEV) is pleased to report that its joint venture partner, New Placer Dome Gold Corp. (" New Placer Dome ") has provided assay results for the initial nine (9) reverse circulation ("RC") drill holes completed during 2020 at the Kinsley Mountain Gold Project ("Kinsley Mountain") located near Wendover, Nevada . Nevada Sunrise holds a 20.01% interest in the Kinsley Mountain joint venture, with New Placer Dome, as operator, holding a 79.99% interest.
The recently completed 2020 Kinsley Mountain RC and diamond drill campaign comprised forty-nine (49) drill holes totaling 17,970 metres (39 RC holes for 13,610 metres, and 10 diamond drill holes for 4,360 metres). A total of five (5) target areas were tested during the 2020 drill program including the: Western Flank Zone, Secret Spot, Shale Saddle, KNW Fault, and Main Pit North areas. Drill hole locations were selected to test extensions to existing resource areas as well as undrilled, high-conviction targets. Assay results from the remaining 40 holes are still pending.
Highlights of the initial nine RC drill holes are listed below, and in Table 1 following:
- 2.63 g/t Au (sulphide) over 38.10 metres; including 10.22 grams/tonne gold (g/t Au) (sulphide) over 6.10 metres in KMR20-017;
- 3.38 g/t Au (oxide) over 21.34 metres; including 5.78 g/t Au over 6.10 metres in KMR20-016;
- 5.15 g/t Au (oxide) over 10.67 metres in KMR20-004 ;
- 4.83 g/t Au (sulphide) over 6.10 metres and 1.74 g/t Au (sulphide) over 7.62 metres in KMR20-008; and 1.15 g/t Au (sulphide) over 6.10 metres in KMR20-007;
- 1.19 g/t Au (oxide) over 16.76 metres in KMR20-005 ; and 0.51 g/t Au (oxide) over 18.29 metres in KMR20-006 .
"These initial results from the 2020 drilling program show that the area of high-grade gold mineralization at Kinsley Mountain continues to grow," said Warren Stanyer , President & CEO of the Company. "We congratulate New Placer Dome on completing their inaugural drilling program on the near surface oxide and deep high-grade sulphide environments at Kinsley, and look forward to receiving more assay results in the weeks to come."
For more information on Kinsley Mountain, including project history, maps, drill sections, and photos, please visit the Nevada Sunrise website at: Nevada Sunrise Gold Corp
Table 1. Kinsley Mountain Gold Project - 2020 Significant Drill Intercepts
| Hole ID | Zone | From (m) | To (m) | Interval (m) 1 | Au (g/t) 2 | CN Soluble Au Recovery 3 (%) |
| (Dip/Azimuth) | ||||||
| KMR20-004 | Western Flank Extension Target | 260.60 | 271.27 | 10.67 | 5.15 | 69% |
| (-68/160) | ||||||
| including | 265.18 | 269.75 | 4.57 | 8.12 | 74% | |
| KMR20-005 | KNW Fault | 22.86 | 39.62 | 16.76 | 1.19 | 86% |
| (-70/235) | ||||||
| KMR20-006 | KNW Fault | 19.81 | 38.10 | 18.29 | 0.51 | 81% |
| (-50/235) | ||||||
| KMR20-007 | Western Flank | 283.46 | 289.56 | 6.10 | 1.15 | Sulphide |
| (-75/280) | ||||||
| KMR20-008 | Western Flank | 294.13 | 300.23 | 6.10 | 4.83 | Sulphide |
| (-83/305) | ||||||
| and | 310.90 | 318.52 | 7.62 | 3.07 | Sulphide | |
| KMR20-009 | Western Flank | 283.46 | 295.66 | 12.19 | 1.74 | Sulphide |
| (-70/110) | ||||||
| KMR20-015 | Western Flank | No significant intercepts | ||||
| (-85/225) | ||||||
| KMR20-016 | Western Flank | 309.37 | 330.71 | 21.34 | 3.38 | 73% |
| (-85/235) | ||||||
| including | 316.99 | 323.09 | 6.10 | 5.78 | 100% | |
| KMR20-017 | Western Flank | 320.04 | 358.14 | 38.10 | 2.63 | Sulphide |
| (-75/320) | ||||||
| including | 326.14 | 332.23 | 6.10 | 10.22 | Sulphide | |
| 1 | True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths. |
| 2 | Drill composites were calculated using a minimum cut-off of 0.20 g/t gold. |
| 3 | " Sulphide " defined as CN soluble gold recovery of |
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global ("ALS") in Vancouver, Canada . ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of New Placer Dome, Nevada Sunrise and the respective Qualified Persons for each company. RC drill samples were subject to crushing at 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 (FA) analysis with atomic absorption spectroscopy (AAS) finish, in addition to 51-element ICP-MS geochemistry. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au 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.
As operator at Kinsley Mountain, New Placer Dome follows industry standard procedures for the work carried out 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. New Placer Dome detected no significant QA/QC issues during review of the data. Nevada Sunrise 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 and a "Qualified Person" for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Allender has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
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% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover where an extensive drilling program concluded in late November 2020 .
Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 ("N.I. 43-101") compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 grams/tonne ("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 gold 1 .
| 1 Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada, U.S.A., effective January 15, 2020 and prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA 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 . The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper property, each located approximately 150 kilometers (100 miles) east of Reno , with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.
Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County . The Company owns Nevada water right Permit 44411, located within the Clayton Valley basin near Silver Peak, Nevada .
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.
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 of 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
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