VANCOUVER, BC, Sept. 8,
2023 /CNW/ - Nevada Sunrise Metals Corp. ("Nevada
Sunrise", or the "Company") (TSXV: NEV) (OTC: NVSGF)
announced today that its joint venture partner, CopAur Minerals
Inc. ("CopAur"), (TSXV: CPAU) has reported the completion of
the 2023 reverse circulation ("RC") and diamond drilling program at
the Kinsley Mountain Gold Project ("Kinsley Mountain", or the
"Project") located in Elko County,
Nevada, USA.
A total of seven (7) RC drill holes and three (3) diamond drill
holes comprising 2,285 metres (7,495 feet) were completed at the
high-grade Western Flank Zone, Main Pit North, and the new
Kinsley Ridge target (see Figure 1
below). All samples, including QA/QC samples, were shipped to ALS
Global in North Vancouver, British
Columbia, Canada for multi-element analysis and gold
fire-assay. Results will be released following their receipt and
interpretation by CopAur, operator of the Project.
About Kinsley Mountain
Kinsley Mountain hosts current indicated mineral resources
comprising 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 Au1.
Indicated resources are inclusive of 302,000 ounces averaging
6.11 g/t gold hosted within the Secret Canyon Shale at the Western
Flank Zone. The Kinsley Mountain property hosts a historical
past-producing mine that yielded 138,000 ounces of near-surface,
open-pit oxide gold mined by Alta Gold Company between 1995-1999
(Figure 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 and Gary L. Simmons, and filed under New Placer
Dome Gold Corp.'s issuer profile on SEDAR
(www.sedar.com).
|
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.
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, 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. 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.
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
interpretation and actual results of historical production at
Kinsley Mountain, reliance on technical information provided by
third parties on any of our exploration properties, including
access to historical information on the Kinsley Mountain property
as well as specific historical data associated with drill results
from the property, information received from CopAur Minerals Inc.,
current exploration and development activities; 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; failure of CopAur Minerals Inc. to complete anticipated
work programs; labor disputes and other risks of the mining
industry; 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 Nine Months ended
June 30, 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