Vancouver, British Columbia, June 6, 2022: Nevada Sunrise Gold Corp. (“Nevada Sunrise”, or the “Company”) (TSXV: NEV) (OTC: NVSGF) is pleased to announce that highly-significant values of lithium have been detected in water samples collected from boreholes GEM22-01 and GEM22-02, drilled in the inaugural 2022 drilling program at its 100%-owned Gemini Lithium Project (“Gemini”) located in the Lida Valley basin in Esmeralda County, Nevada. The water samples from both boreholes contain dissolved lithium in a calcium/magnesium carbonate-type brine that was not easily recognized on site during the drilling program due to the presence of high levels of suspended solids.
Water samples from borehole GEM-22-01 averaged 327.7 milligrams per litre (“mg/L”) lithium over 220 feet (67.07 metres) from 600 to 820 feet with a peak value of 519 mg/L lithium. Water samples from borehole GEM22-02 returned an average of 116.28 mg/L lithium over 460 feet (140.24 metres) from 600 to 1,120 feet (201.22 to 341.46 metres) with a peak value of 286.0 mg/L lithium (see Table 1 below).
Notes:
- Lithium concentrations in GEM22-01 water samples ranged from 137 mg/L to 519 mg/L in the 220 foot (67.07 metres) thick zone from 600 to 820 feet (182.93 to 250 metres).
- The 60-foot zone sampled from 820 to 880 feet (250 to 268.3 metres) in GEM22-01 contained no significant lithium values.
- Lithium concentrations in GEM22-02 water samples ranged from “not detected” to 286mg/L in the 460- foot (140.24 metre) thick zone from 660 to 1120 feet (201.22 to 341.46 metres).
About the 2022 Gemini Drilling Program
Nevada Sunrise drilled two reverse circulation (“RC”) boreholes for a total of 2,020 feet (615.85 metres) in its maiden drilling program at Gemini in March and April 2022. The drill sites were located within a defined gravity low that hosts conductive layers detected by historical time domain electromagnetic (“TDEM”) surveys (see Figure 1 below). The results from the first two holes at Gemini represent a new discovery of lithium-bearing sediments and lithium-in-water 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 metres), from 320 to 900 feet (97.56 to 274.39 metres) including 1,578.19 ppm lithium over 300 feet (91.46 metres) from 480 to 780 feet (146.34 to 237.8 metres).
- GEM22-02 averaged 1,101.73 parts per million (“ppm”) lithium over 730 feet (222.56 metres) from 390 to 1,120 feet (118.90 to 341.46 metres), including 2,217.69 ppm lithium over 130 feet (39.63 metres) from 990 to 1,120 feet (301.83 to 341.46 metres) and 3,304.34 ppm lithium over 50 feet (15.24 metres) from 1,070 to 1,120 feet (326.22 to 341.46 metres).
Figure 1. TDEM Survey Results Showing Conductive Zones and 2022 Drill Holes at Gemini
Nevada Sunrise is evaluating the 2022 water and sediment sampling results in detail. These analytical results and preliminary research by the Company suggest that the Gemini lithium deposit is an example of the claystone deposit model situated in a closed arid basin, similar to lithium deposits found in the Clayton Valley and at other sedimentary-hosted lithium deposits in Nevada.
The host horizons at Gemini are dark green-gray to black volcanic ash-rich lacustrine sediments containing significant amounts of clay. High lithium concentrations are accompanied by high calcium and magnesium concentrations. The highest lithium concentrations in sediment samples are associated with dark gray/green to black, organic-rich claystone intervals. Brine samples from these intervals also carry the highest lithium concentrations found in groundwater. Further testing is required to identify the lithium-rich clay minerals and the source of the lithium-bearing brine found at Gemini.
Additional drilling is planned following receipt of an amendment to the current Bureau of Land Management drilling permit, which will be required to cover the Company’s newly-expanded land position. In April and May 2022, Nevada Sunrise staked 288 unpatented lode claims totaling 5,760 acres (1,756 hectares) over the outline of the gravity low to effectively cover the possible extent of the lithium-bearing clay layers. Follow-up geophysical TDEM surveys were completed at Gemini in May 2022 within the interpreted area of the historical gravity low to better map and assess the conductive layers first detected by Nevada Sunrise in 2016 (see Nevada Sunrise news release dated May 12, 2022). The new geophysical results are being compiled and interpreted.
For further information on Gemini, including location maps and photos please visit our website at:
Gemini Lithium | Nevada Sunrise Gold Corp.
About Gemini
Gemini consists of 407 unpatented placer and lode claims located in the western Lida Valley, Esmeralda County, approximately 6 miles (10 kilometres) east of the town of Lida, Nevada. The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated continuously since 1966. Nevada Sunrise expanded the size of the Project by staking 80 new unpatented placer claims in March 2022, and 288 additional unpatented lode claims in April and May 2022.
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 projects until 2033. Exploration at Gemini is complemented by the Company’s 80.09 acre/feet/year water right, a pre-requisite for the exploration and development of lithium brine projects in Nevada. Under the laws of Nevada, water cannot be pumped from a subterranean source without a valid water permit. Drill pads and access roads remain in place at Gemini with an active drilling permit.
Sampling and Analytical QA/QC and Statement of Qualified Person
Water Sample Collection and Analysis
Water parameters including TDS, conductivity, temperature, and pH values were obtained in the field by direct measurement with a handheld Hanna Model 98194 Multiparameter Meter, which meets Good Laboratory Practice (as proscribed by the Organization for Economic Cooperation and Development) for calibration and measurement. All depth measurements reported, including sample and interval widths are down-hole. As holes are oriented vertical and geologic stratigraphy is primarily horizontal to sub-horizontal, downhole measurements are assumed to be close to true thickness.
Thirty-seven (37) groundwater samples were collected at 20-foot (6.1-metre) intervals and sent to Western Environmental Testing Laboratory in Reno, Nevada under project chain-of-custody protocols for analysis. Industry standard methods for examination of water were employed by the laboratory. General chemistry testing included analysis for specific gravity, total hardness, total alkalinity, bicarbonate, carbonate, hydroxide, total dissolved solids (TDS) and electrical conductivity. Anions (chloride, sulfate) were analyzed by ion chromatography. Trace metals (lithium, magnesium, boron, calcium, potassium, strontium, and sodium) were analyzed by inductively coupled plasma-optical emission spectroscopy (ICP-OES) methods.
Sediment Sample Collection and Analysis
Sediment samples described in this new release are a composite of material collected from the rotary splitter in the RC drilling rig, which produces a continuous, representative 3 to 5 kilogram sample for each sample interval.Samples were submitted to American Assay and ALS in Reno, NV and were analyzed utilizing a multi-element ICP-AES method. Specifically, the analytical method involves aqua regia digestion of the sample followed by the inductively coupled plasma (ICP) technique to ionize the sample, and atomic emission spectrometry (AES) to determine elemental concentrations. Duplicates, field blanks, and certified reference standards were inserted at regular intervals in the sample stream to ensure accuracy of the analytical method.
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.
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.
Nevada Sunrise owns 100% interests in the Gemini and Jackson Wash lithium projects, both 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 a 20.01% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover, NV. Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au 1.
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, Ph.D., and Gary L. Simmons, MMSA and filed 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, NV. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, NV, with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.
For Further Information Contact:
Warren Stanyer
President and Chief Executive Officer
email: warrenstanyer@nevadasunrise.ca
Telephone: (604) 428-8028
or
Jason Powell, Corporate Communications
email: nevadasunrisegold@outlook.com
Telephone: (604) 779-6497
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 Company’s 2022 exploration activities and future plans at the Gemini Lithium Project; reliance on technical information provided by third parties on any of our exploration properties; 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; labor disputes and other risks of the mining industry; delays due to pandemic; 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 Six Months Ended March 31, 2022, 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. 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.