VANCOUVER, BC, July 31,
2023 /CNW/ - Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the "Company") (TSXV: NEV) (OTC:
NVSGF) is pleased to announce further results of metallurgical
testing carried out on lithium mineralization from its 100%-owned
Gemini Lithium Project ("Gemini") located in the Lida Valley basin
in Esmeralda County, Nevada. A
substantially pure sample of lithium carbonate equivalent ("LCE")
was produced from the leach solutions that realized a 90.2% lithium
recovery rate reported by the Company in June 2023 (see Nevada Sunrise news release dated
June 5, 2023).
Highlights of Gemini Metallurgical
Testing
- A novel method of small-scale column testing achieved a 90.2%
lithium extraction rate under the direction of Willem Duyvesteyn, of Extractive Metallurgy
Consultancy LLC, based in Reno,
Nevada. Mr. Duyvesteyn utilized the facilities of McClelland
Laboratories Inc. ("McClelland") in Sparks, Nevada for the metallurgical
tests.
- From the leach solution provided by the initial extraction,
McClelland produced an LCE sample that was near-100% lithium
carbonate (Li2CO3);
- Subsequent X-ray diffraction analysis ("XRD") matched the
standard pattern of lithium carbonate (see Gemini LCE XRD profile
comparison to recognized Li2CO3 XRD profile
below1).
1
Lithium carbonate precipitation by homogeneous and
heterogeneous reactive crystallization, (Han, Bing; Anwar Ul Haq,
Rana; Louhi-Kultanen, Marjatta, 2020)
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"The production of a high-quality LCE sample at this early stage
in our project timeline bodes well for Gemini," said Warren Stanyer, President and CEO of Nevada
Sunrise. "The positive results of our first-pass metallurgical work
will provide valuable information for the upcoming engineering
studies on the viability of the Gemini Project."
About the 2022-2023 Gemini
Drilling Program
In March and April 2022, Nevada
Sunrise drilled two RC boreholes for a total of 2,020 feet (615.85
metres) in its maiden drilling program at Gemini. The drill sites
were located within a defined gravity low that hosts conductive
layers detected by historical ground electromagnetic surveys. The
results from the first two holes at Gemini represented a new
discovery of lithium mineralization in the western Lida Valley,
which was not historically drill tested for lithium (see Nevada
Sunrise news release dated May 18,
2022). In July 2022,
Nevada Sunrise received a permit for an expanded drilling area from
the Bureau of Land Management and began Phase 2 drilling at Gemini
in October 2022. Three
additional boreholes were completed from October 2022 to April
2023, with each intersecting lithium mineralization (see
Nevada Sunrise news release dated May 24,
2023).
Nevada Sunrise believes that the southern and western parts of
the Gemini basin are highly prospective for additional lithium
mineralization and that further drilling could eventually define a
large lithium resource. The Company has engaged ABH Engineering
Inc. of Surrey, BC, Canada to calculate a National Instrument
43-101-compliant resource estimate leading to a Preliminary
Economic Assessment of the lithium-bearing zones at Gemini.
The 90.2% lithium extraction rate achieved from the Gemini
mineralization compares favourably with the average lithium
extraction of 84% reported by Lithium Americas at its Thacker Pass lithium project (Source:
Feasibility Study, National Instrument 43-101 Technical Report for
the Thacker Pass Project, Humboldt
County, Nevada, USA, by Roth, D., et al, dated November 2, 2022.) As follow-up to the
successful outcome of this small-scale column testing, Mr.
Duyvesteyn has designed a larger scale test involving 50 kilograms
of Gemini clay mineralization, which began in late
May 2023. The larger test will employ
selected higher-grade mineralization averaging approximately
2,000 ppm lithium.
For further information on Gemini, including maps and photos
click here
About Gemini
Gemini consists of 582 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 Albemarle Corporation operates the Silver Peak lithium
brine mine, which has operated continuously since 1966.
Gemini is situated adjacent to the Gold Point Solar Energy Zone,
a BLM 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 projects in Nevada.
Sampling and Analytical QA/QC and
Statement of Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Willem Duyvesteyn, M.Sc., who is a Qualified
Person for Nevada Sunrise as defined in National Instrument 43-101
– Standards of Disclosure for Mineral Projects. XRD
analysis was performed by The Mineral Lab, of Golden, CO.
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 lithium, gold, and copper exploration projects located
in the State of Nevada, USA.
Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, with
no applicable royalties, all 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 at the Kinsley Mountain Gold Project near Wendover, NV with CopAur Minerals
Inc. 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. The Company has elected not to
contribute to the 2023 exploration program at Kinsley Mountain and
expects to incur dilution of its participating interest in the
joint venture to an approximate 19.0% interest.
Nevada Sunrise has the 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. ("GEMC")
holding an 85% participating interest. A transaction is in progress
for GEMC to own a 100% interest, scheduled
to close on or before June 30,
2023.
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).
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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
results and outcomes of the Company's 2022-2023 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 metallurgical
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 ending
March 31, 2023, 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.
SOURCE Nevada Sunrise Metals Corporation