Nevada Sunrise Gold Corporation (TSX-V: NEV) is pleased to announce that the Company has received results of the 2018 drilling program at the Kinsley Mountain Gold Project from Liberty Gold Corp. (TSX: LGD). Kinsley Mountain is located near the town of Wendover in eastern Nevada and is a joint venture between Liberty Gold and the Company, with Liberty Gold, as operator, holding a 79.1 percent interest and Nevada Sunrise, through a wholly-owned U.S. subsidiary, holding a 20.9 percent interest.
2018 Drilling Program
The 2018 drilling program targeted possible extensions of the Western Flank deposit, which was discovered by Liberty Gold in 2014. Subsequent drilling has outlined a sulphide resource estimate, using multiple cut-offs1 of 284,000 Indicated ounces of gold grading 6.04 grams per tonne (“g/t”) and 39,000 Inferred ounces grading 2.41 g/t gold (see Nevada Sunrise news release dated November 5, 2015). 1Cut-off grades assume an open-pit mining scenario, using a pit floor elevation generated using Whittle software, reasonable assumptions for mining and milling costs, and a US$1,300/ounce gold price.
A total of seven reverse circulation holes were started in the 2018 program, with five holes completed and two lost at shallow depths due to voids and fault zones encountered. Total meterage for the 2018 program was approximately 1,830 metres (6,005 feet). Highlights of the drilling were as follows:
The first hole of the program, PK225 was drilled into the Anticline Target, an area with no previous drilling, to test the Secret Canyon Shale southeast of the Western Flank Zone and returned a lower-grade interval of 0.45 g/t gold over 1.5 metres in the shallow Notch Peak limestone. Hole PK227 was drilled to test the Secret Canyon-Geddes contact and returned a lower-grade interval in the Dunderberg Shale of 0.55 g/t gold over 6.1 metres from 141.7 metres to 147.8 metres. The last hole of the program, PK230, encountered voids and fault zones, but showed no significant results.
For maps showing the 2018 target areas and drill hole locations, please access Nevada Sunrise’s website at: http://www.nevadasunrise.ca/projects/kinsley-mountain/
Drill composites were calculated using a minimum cut-off of 0.20 g/t gold. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100 percent of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80 percent of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done 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. Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
John R. Kerr, P. Eng., is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Kinsley Mountain
Kinsley Mountain is located approximately 80 kilometres (50 miles) south of Wendover, Nevada, and consists of 513 unpatented lode claims on U.S. Bureau of Land Management land plus 5 leased patents totaling 4,160 hectares (10,280 acres). Kinsley Mountain hosts near-surface mineralization similar to other Carlin-style, sediment-hosted gold systems, and hosts a past-producing mine with an extensive exploration database and numerous untested gold targets.
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