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Nevada Sunrise Reports 24.1 Grams/Tonne Gold Over 4.6 Metres Intersected at the Kinsley Mountain Gold Project in Nevada

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Nevada Sunrise Gold Corp. (TSX-V: NEV) is pleased to report that its joint venture partner, New Placer Dome Gold Corp. has provided assay results for mineralized holes within ten additional reverse circulation drill holes completed during 2020 at the Kinsley Mountain Gold Project 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.

 

New Drilling Results Expands Gold Mineralization at Western Flank Zone

 

The 2020 Kinsley Mountain RC and diamond drill campaign comprised 49 drill holes totaling 17,970 metres (39 RC holes for 13,610 metres, and 10 diamond drill holes for 4,360 metres), and tested five target areas within the greater resource area (Figure 1). Assay results from 27 holes are still pending, including all core holes. Drill holes were selected to test extensions of existing resource areas as well as undrilled, high-conviction targets.   This second group of results from the 2020 drilling program at the Western Flank Zone has yielded significant gold intercepts at Kinsley Mountain.

 

Highlights include:

 

  • 15.1 grams per tonne gold  (sulphide) over 7.6 metres, including 24.1 g/t Au (sulphide) over 4.6 m in KMR20-026 lower zone; and 9.08 g/t Au (sulphide) over 6.1 m in KMR20-026 upper zone (Figure 2, and Table 1)
  • 2.51 g/t Au (sulphide) over 15.2 m; including 4.16 g/t Au (sulphide) over 6.1 m in KMR20-003
  • 1.78 g/t Au (oxide) over 39.6 m; including 3.63 g/t Au (oxide) over 13.7 m in KMR20-002

 

“The latest round of drill results continues to support the potential growth of gold resources at Kinsley Mountain,” said Warren Stanyer, President and CEO of Nevada Sunrise. “With many more holes to be released, we are very pleased with the outcomes to date as this exploration story unfolds.”

 

Key Points:

 

  • The upper interval in KMR20-026 is hosted in Dunderberg Shale and is the second highest-grade Western Flank Zone Dunderberg shale intercept drilled to date, and is 200 m shallower than the bulk of the Western Flank Zone resource, demonstrating high-grade, near-surface resource expansion potential.
  • The lower interval in KMR20-026 (24.1 g/t Au over 4.6 m) is the highest-grade drill interval from the top of the Secret Canyon shale to date at Kinsley Mountain, with individual assays among the top 40 of the over 1,400 holes drilled on the Project.
  • High-grade gold mineralization in KMR20-026 is open to the northwest and warrants an aggressive program of follow-up drilling.

 

 

Table 1. Kinsley Mountain Gold Project 2020 Significant Drill Intercepts

 

Hole ID Released Zone From
(m)
To (m) Interval
(m)1
Au
(g/t)*
CN Soluble
Au
Recovery**
(%)
(dip/azimuth)
KMR20-026 Current News Release Western Flank 135.6 141.7 6.1 9.08 Sulphide
(-90)
and 199.6 207.3 7.6 15.1
including 199.6 202.7 4.6 24.1
KMR20-002 300.2 339.9 39.6 1.78 74%
(-82/314)
including 310.9 324.6 13.7 3.63 83%
KMR20-003 362.7 379.0 15.2 2.51 Sulphide
(-70/314)
including 362.7 368.8 6.1 4.16
KMR20-004 11-Jan-21

 

Western Flank

Extension Target

260.6 271.3 10.7 5.15 69%
(-68/160)
including 265.2 269.8 4.6 8.12 74%
KMR20-007 Western Flank 283.5 289.6 6.1 1.15 Sulphide
(-75/280)
KMR20-008 Western Flank 294.1 300.2 6.1 4.83 Sulphide
(-83/305)
and 310.9 318.5 7.6 3.07 Sulphide
KMR20-009 Western Flank 283.5 295.7 12.2 1.74 Sulphide
(-70/110)
KMR20-016 Western Flank 309.4 330.7 21.3 3.38 73%
(-85/235)
including 317.0 323.1 6.1 5.78 100%
KMR20-017 Western Flank 320.0 358.1 38.1 2.63 Sulphide
(-75/320)
including 326.1 332.2 6.1 10.2 Sulphide
*True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
*Drill composites were calculated using a minimum cut-off of 0.20 g/t gold.
**”Sulphide” defined as CN soluble gold recovery of <50%

 

Drill hole KMR20-002 deviated towards KMR20-016 (previously reported, see Nevada Sunrise news release dated January 11, 2021) and replicated that intercept. Drill holes KMR20-010 (-80/128), KMR20-013 (-84/356), and KMR20-014 (-60/295) collared on the northern margin of the Western Flank zone did not intersect significant mineralization.  Shale Saddle target exploration holes KMR20-011B (-80/038), KMR20-012 (-76/220), KMR20-031 (-82/033), and KMR20-034 (-68/202), intersected the target Secret Canyon Shale and anomalous arsenic (a Carlin-style gold pathfinder element) throughout, but did not return significant gold intercepts (Figure 2).

 

Methodology and QA/QC

 

Assaying was performed by ALS Global, of Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of New Placer Dome, Nevada Sunrise, and their respective Qualified Persons. RC drill samples were subject to crushing to 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 analysis with atomic absorption spectroscopy finish, in addition to 51 element ICP-MS. 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 examined the data disclosed, which includes a review of the sampling, analytical and test data and procedures 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. (TSX-V: 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  compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 grams/tonne 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).

 

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. (TSX-V: 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, and water permit 86863, located in the Lida Valley basin, near Lida, Nevada.

 


Figure 1. Western Flank Zone Drill Section KMR20-026 / KMR20-002 / KMR20-003 (CNW Group/Nevada Sunrise Gold Corporation)

 


Figure 2. Kinsley Mountain Gold Project 2020 Drill Holes and Pending Status (CNW Group/Nevada Sunrise Gold Corporation)

 

Posted March 23, 2021

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