VANCOUVER, BC, Jan. 30,
2023 /CNW/ - Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the "Company", formerly Nevada Sunrise Gold
Corp.) (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it
has contracted McClelland Laboratories Inc. of
Sparks, NV ("MLI") to perform
metallurgical leach tests on samples of lithium
mineralization intersected by the Company at the Gemini
Lithium Project ("Gemini", or the "Project") in Esmeralda County, Nevada. Gemini is
located in the Lida Valley, approximately 25 miles (38 kilometres)
southwest of the only producing lithium mine in the United States at Silver Peak, Nevada.
"Nevada Sunrise looks forward to the ongoing collaboration
between MLI and our Nevada-based
metallurgical consultant, Mr. Willem
Duyvesteyn", said Warren
Stanyer, President and CEO of Nevada Sunrise. "We anticipate
that the work of MLI's technical team will provide critical
information about the lithium mineralization and
extractability from sample material generated during our
2022 drilling campaign, to help guide future exploration
and development at Gemini."
MLI has offered metallurgical, environmental,
analytical testing and consulting services to the mineral
exploration industry since 1987 and operates an ISO 17025
accredited facility that provides quality laboratory services
during all phases of project development and
operation. Willem Duyvesteyn, M.Sc., is renowned as an
innovator in his field of and is the primary inventor and author of
over 100 patents for mineral and hydrocarbon extractive
technologies, including numerous applications for the extraction
and leaching of metals and minerals from ores, brines, and
solutions (see Nevada Sunrise news release dated November 15, 2022).
About Gemini
Gemini consists of 582 unpatented placer and lode claims
(covering about nine square miles) 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
Albermarle 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 Bureau of Land Management 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 brine
projects in Nevada. Under the laws
of Nevada, water cannot be pumped
from a subterranean source without a valid water permit.
In March 2022, Nevada Sunrise
began drilling geophysical targets at Gemini and intersected
significant zones of lithium mineralization in sediment and
groundwater in the first two holes (see Nevada Sunrise news release
dated June 6, 2022). Drilling
continues in 2023 with a Phase 2 drilling program of up to six
additional holes. Final geochemical analyses for
lithium-in-sediments and groundwater are pending for hole GEM23-03,
which was completed in mid-December
2022.
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, copper and cobalt exploration projects
located in the State of Nevada,
USA.
Nevada Sunrise owns 100% interests in the Gemini and
Jackson Wash lithium projects, both
of which are located in Esmeralda County,
NV. The Company owns Nevada water right Permit 86863,
located in the Lida Valley basin, near Lida, NV.
The Company's key gold asset is a 20.01% interest at the Kinsley
Mountain Gold Project ("Kinsley Mountain") near Wendover, NV. Kinsley
Mountain is a joint venture with Copaur Minerals Inc.
("Copaur"), following the completion of a plan of arrangement
between Copaur and the Company's former joint venture partner, New
Placer Dome Gold Corp. 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.
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).
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.
holding an 85% participating interest.
FORWARD LOOKING STATEMENTS
This news 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
exploration plans at our Nevada
lithium projects; 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 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 encountered 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 Year Ended September 30,
2022, 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 Gold Corporation