TSX Venture Exchange: NEV
VANCOUVER, BC, Dec. 15, 2020 /CNW/ - Nevada Sunrise Gold
Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV)
announced today that 2020 exploration programs have concluded at
the Kinsley Mountain Gold Project ("Kinsley Mountain") near
Wendover, NV, and at the Coronado
VMS Project ("Coronado") near Winnemucca,
NV.
Kinsley Mountain Gold Project Update
Nevada Sunrise's joint venture partner New Placer Dome Gold
Corp. ("New Placer Dome", TSXV: NGLD) has provided the following
update to the Company on drilling statistics for the 2020
exploration program, which was completed in the last week of
November 2020. Nevada
Sunrise holds a 20.01% interest in Kinsley Mountain, with New
Placer Dome, as operator, holding a 79.99% interest.
New Placer Dome has advised the Company that a total of 17,970
metres (58,956.7 feet) was drilled at Kinsley Mountain in the 2020
drilling program, consisting of 39 reverse circulation ("RC") drill
holes totaling 13,610 metres (44,652 feet) and 10 diamond drill
core holes totaling 4,360 metres (14,304 feet). Samples are
being processed at the ALS Geochemistry laboratory in North Vancouver, BC. Analytical results
from the program are pending, and will be released when received,
compiled and interpreted.
About Kinsley Mountain
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
gold1.
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).
Coronado VMS Project Update
A drilling program at Coronado
began in early November, 2020. Two diamond drill holes were
collared at locations identified by the previous airborne Versatile
Time Domain Electromagnetic ("VTEMEM") geophysical
survey as optimal for penetration of the interpreted conductor. A
total of 250.76 metres (822.7 feet) was drilled in the two diamond
core holes. Each of the drill holes encountered difficulty
penetrating through the overburden and viscous clay layers, and the
bedrock targets were not intersected.
DDH-COR20-01 was drilled to 151.37 metres (496.6 feet), at which
depth ground conditions made further advance impossible. The drill
hole encountered a fault zone composed of clay gouge and breccia at
136.89 metres (449.1 feet). Drilling continued through this zone
for 14.48 metres (47.5 feet) until the hole was abandoned. This
fault zone intersection may represent an extension of the thrust
fault encountered in the Company's previously drilled hole
DDH-COR18-01. Formations identified in the core indicate that
surface colluvium and the upper part of the Havallah greenstone
sequence are situated above the fault as in DDH-COR18-01.
DDH-COR20-02 was drilled through the surface colluvium to a
depth of 99.39 metres (326.1 feet), at which depth further advance
was impeded by a viscous clay layer. This viscous clay is either a
layer within the surface colluvium or it may be associated with a
fault gouge zone at this depth.
Nevada Sunrise intends to test the Coronado South conductor in a
future drilling program with a combination of RC drilling and
diamond drilling to penetrate the problematic layers of overburden
and continue into bedrock to best intersect the strong
VTEMEM airborne conductor detected by the Company in
2018.
About Coronado
Coronado currently consists of
133 located unpatented claims totaling approximately 1,113 hectares
(2,748 acres) located over an interpreted trend adjacent to the
historic Big Mike open pit copper mine that lies within the
Middle Pennsylvanian to Late Permian-age Havallah
volcanic-sedimentary sequence. The Company's land position
controls an important 11.3 kilometres (seven-mile long)
regional trend along which several VMS showings, one high-grade
copper deposit (the Big Mike mine) and at least two high priority
airborne VTEMTM" anomalies have been identified within
the Early Pennsylvanian–early Late Permian Pumpernickel Formation
of the Havallah sequence.
Robert M. Allender, Jr., CPG, RG,
SME is the Company's designated Qualified Person for this news
release within the meaning of N.I. 43-101 and has reviewed and
approved the technical information contained herein. Readers are
cautioned that some of the technical information described in this
news release is historical in nature; however, the information is
deemed credible and was produced by professional geologists of the
eras discussed. Mineralization located on adjacent properties by
historical exploration and mining operations may not be present on
Coronado.
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.
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