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Nevada Sunrise Gold Corp (NVSGF)

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Last Post: 4/21/2022 10:40:31 AM - Followers: 4 - Board type: Free - Posts Today: 0

NEVADA SUNRISE AGREEMENT ON LITHIUM CLAIMS IN CLAYTON VALLEY, NEVADA SEPTEMBER 2, 2015, Vancouver, British Columbia - Nevada Sunrise Gold Corporation (“Nevada Sunrise” or the “Company”) (TSXV: NEV) is pleased to announce it has entered into a letter agreement for an option to purchase the Neptune property (“Neptune, or the “Property”) located in the Clayton Valley, Esmeralda County, Nevada, USA. Neptune (formerly known as the Clayton Deep property) is located approximately 37 miles (55 kilometres) southwest of Tonopah, Nevada in an active area of lithium exploration and mining. The Silver Peak lithium mine, now owned by Albemarle Corporation, has extracted lithium minerals from brines continuously since 1966, approximately 10 miles (15 kilometres) to the north of the Property. Pure Energy Minerals Ltd. (“Pure Energy”, TSXV: PE), a Canadian-based exploration company, has recently published a technical report on an inferred lithium resource for its Clayton Valley South project located near the Silver Peak mine. Nevada Sunrise believes Neptune has the potential to host lithiumbearing brines in subterranean aquifers beneath the Clayton Valley floor. “Tesla Motors Inc.’s plan to manufacture lithium ion batteries at its Gigafactory in Reno has brought a great deal of attention to the potential for lithium sources in Nevada,” said Warren Stanyer, President and CEO of Nevada Sunrise. “With growing world demand for lithium, we believe lithium brine assets can provide a strong complement to our Nevada gold exploration activities, and look forward to advancing Neptune.” For an option to earn up to a 100% interest in Neptune, Nevada Sunrise has agreed to pay the following consideration to the vendors upon signing a definitive agreement (the “Agreement”) and on subsequent anniversaries of the Agreement:  On signing the Agreement: 200,000 common shares  1st Anniversary: 300,000 common shares  2nd Anniversary 500,000 common shares Neptune consists of 39 unpatented association placer claims totaling approximately 3,120 acres (1,263 hectares). Under the terms of the letter agreement, Nevada Sunrise can specify which of the 39 claims it wishes to option from the vendors. A 1.5 mile (2.25 kilometre) area of interest applies to the Property. The letter agreement is subject to certain conditions, including a 30-day due diligence period, approval by the Board of Directors of the Company, and acceptance by the TSX Venture Exchange. Neptune is subject to a 3.0% gross overriding royalty (“GOR”). On the 3 rd anniversary of the signing of a definitive agreement, Nevada Sunrise would have the right to purchase 1.0% of the GOR for US$1,000,000. Historical reports obtained by Nevada Sunrise indicate that geologic formations and structures exist at Neptune that are similar to lithium-bearing brine deposit models present elsewhere in the Clayton Valley. Ground gravity and controlled source audio-frequency magnetotellurics (“CSAMT”) surveys were Page 2 of 4 carried out over Neptune in 2011. CSAMT is a geophysical survey method that measures ground resistivity with considerable depth penetration and high lateral resolution suitable for the exploration of fractured bedrock aquifers. Gravity surveys can outline basin depth and controlling structures. Brinerich aquifers are expected to exhibit low resistivities and be stratiform in geometry, and the conductive layer interpreted from the CSAMT in the Neptune basin fits these criteria. Drilling up to 3 vertical holes between 400 to 500 metres deep into the interpreted basin and analyzing any groundwater encountered is considered to be the next step for exploration at Neptune. About Neptune and the Clayton Valley Neptune is located in the southwest corner of the Clayton Valley flanked by the Silver Peak Mountains to the west, the Palmetto Mountains to the south, and the Clayton Ridge and Montezuma Mountains to the east. The Clayton Valley playa is characterized as an immature clastic salar, or salt flat. Other than the 2011 geophysical surveys carried out by a previous operator, historical exploration for lithium brines at Neptune is sparse. A large scale ground gravity survey by the United States Geological Service (“USGS”) in 1980 outlined two gravity lows in the south end of the Clayton Valley – the “South Central Low” underlies land controlled by Pure Energy, and the “Southwest Low” underlies Neptune. (Source: from R. M. Allender, Jr., “Technical Report on the Clayton Deep Lithium Brine Project, Clayton Valley, Esmeralda County, Nevada, USA”, 2011). In 2013, the USGS released a paper describing the Clayton Valley’s potential to host lithium deposits based on the hypothesis that lithium is liberated by weathering of host rocks or derived from hydrothermal fluids from a variety of rock sources within a closed basin. The floor of Clayton Valley has an area of about 100 square kilometers and a catchment of about 1,400 square kilometres, and is the topographically lowest of at least five adjacent basins that are hydrologically linked by groundwater flow (Zampirro, 2004). It is the combined area of all five linked catchments that matters, making the effective area of the Clayton Valley lithium-brine system much larger than the footprint of the Clayton Valley proper (Source: from USGS Open File 13-1006, 2013). John R. Kerr, P. Eng., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. For further information on Neptune including a map showing its location, see “Projects – Neptune Lithium” at: http://www.nevadasunrise.ca/projects/Neptune/ 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 three exploration projects in Nevada, USA. Our three key gold assets include a 21% interest in a joint venture with Pilot Gold Inc. at Kinsley Mountain near Wendover, a 100% interest in the Golden Arrow project near Tonopah, and a 100% interest in the Roulette gold property (formerly known as the Grulla property) in the southeastern Carlin trend near Ely, Nevada, with each of the properties subject to certain production royalties. FOR FURTHER INFORMATION CONTACT: Warren Stanyer, President and Chief Executive Officer Telephone: (604) 428-8028 Facsimile: (604) 484-7143 Email: warrenstanyer@nevadasunrise.ca
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#30   Wakey wakey ... Woot , Woot ... LOL molee 04/21/22 10:40:31 AM
#29   News; $NVSGF Nevada Sunrise Announces $630,000 Private Placement whytestocks 08/28/20 01:30:17 PM
#28   News: $NVSGF Nevada Sunrise Announces Kinsley Mountain Drilling whytestocks 07/30/20 08:30:44 AM
#27   News: $NVSGF Nevada Sunrise Closes $210,000 Private Placement whytestocks 07/10/20 05:45:38 PM
#26   C'mon man , yur kidding me , right ??? molee 07/10/20 09:48:02 AM
#25   Not a peep ?? Missing this "run" ? molee 07/09/20 02:42:22 PM
#24   Get your rally hat on .. ( If molee 06/30/20 08:59:20 AM
#23   Now that’s the kinda candlestick that changes the BigPennyHunter 06/04/20 05:02:27 PM
#22   Ah , a near miss ... molee 01/10/19 08:45:51 AM
#21   Nevada Sunrise Completes First Drill Hole at Coronado molee 12/19/18 12:51:28 PM
#20   I'll buy some back around 3-4 cents , molee 12/18/18 12:24:12 PM
#19   Looks like the "buy" party is in need molee 12/06/18 09:26:01 AM
#18   Getting some action. Interesting. greenwillow 10/31/18 10:03:07 AM
#17   0.07 X 0.075 ... ;-) molee 10/31/18 09:59:40 AM
#16   NVSGF recovering now ... .062 X .07 molee 10/31/18 09:51:04 AM
#15   Nevada Sunrise Announces Private Placement molee 10/16/18 09:34:36 AM
#14   Nevada Sunrise and Liberty Gold drill 5.42 g/t molee 08/02/18 09:26:13 AM
#13   https://www.otcmarkets.com/stock/NVSGF/news greenwillow 01/18/18 09:49:52 AM
#12   OMG, we have a green day greenwillow 11/01/17 12:05:57 PM
#11   You get ss for this haven't had chance Crown Capital 09/09/17 03:31:01 PM
#10   Cant send pm lol not actively paying ihub Crown Capital 09/06/17 06:30:46 PM
#9   You is not lyin Crown Capital 09/06/17 04:24:05 PM
#8   .18 is a tough bid to get filled here. greenwillow 09/06/17 11:08:49 AM
#7   Sounds like a good spot. greenwillow 08/30/17 05:16:56 PM
#6   Waiting for .18 here. Crown Capital 08/30/17 05:12:53 PM
#5   Knock. knock. Still a sleeper board. I can't be the greenwillow 08/12/17 03:36:52 PM
#4   Anybody home here? NVSGF looking ready to greenwillow 07/16/17 11:32:14 AM
#3   Is somebody pumping this? It's up over 15% proteinspike 11/01/16 12:43:49 PM
#2   Vancouver, British Columbia, August 29, 2016 – Advantage proteinspike 08/31/16 02:59:01 AM
#1   NVSGF bullish 0.2502 stocktrademan 08/30/16 12:05:20 PM
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