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Nevada Sunrise and Liberty Gold drill 5.42 g/t

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molee   Thursday, 08/02/18 09:26:13 AM
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Nevada Sunrise and Liberty Gold drill 5.42 g/t gold over 9.1 metres at Kinsley Mountain Gold Project in Nevada

VANCOUVER, Aug. 2, 2018 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that the Company has received results of the 2018 drilling program at the Kinsley Mountain Gold Project ("Kinsley Mountain" or the "Project") from Liberty Gold Corp. ("Liberty Gold", formerly Pilot Gold Inc.) (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:

PK228 intersected 5.42 g/t gold over 9.1 metres from 275.8 metres to 285.0 metres, including 7.77 g/t gold over 6.1 metres from 277.4 metres to 283.5 metres, at the Secret Canyon-Geddes contact, 50 metres east of 2017 hole PK221, which intersected 5.30 g/t over 29 metres. This new intercept in PK228 represents a significant step out in the Western Flank Zone ("WFZ") east extension exploration. Liberty Gold has recommended follow up in subsequent drill programs.
PK229 and PK229A were drilled to intersect the Secret Canyon shale beneath the Ridge Pit area. Both of these holes were cut short due to drilling problems related to voids and fault zones in the shallow units. However, these holes did provide valuable data in specific fault zone locations and mineralized breccia zones near the faults. Of note, PK229A returned 1.15 g/t gold over 15.2 metres from 91.4 metres to 106.7 metres, in brecciated Notch Peak and Hamburg Dolomite adjacent to the KNW fault zone. This is very encouraging for follow-up testing of the lower units in this vicinity, as it indicates strong hydrothermal fluid flow during the local mineralization event.
PK226 was the first hole of the program in the WFZ east extension area, targeted to test a modelled east-west trending zone between the WFZ and the historical PK200/PK215 intercepts about 170 metres east of the WFZ high-grade zone. This hole returned multiple mineralized intercepts, including 1.54 g/t gold over 6.1 metres from 135.6 metres to 141.7 metres in the Dunderberg Shale, and 0.77 g/t gold over 7.6 metres from 249.9 metres to 257.6 metres in the Secret Canyon Shale.
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.

Further information on Kinsley Mountain is available in the National Instrument 43-101 compliant technical report entitled "Updated Technical Report and Estimated Mineral Resources for the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A.", effective October 15, 2015, dated December 16, 2015 and prepared by Michael M. Gustin, CPG, Moira Smith, Ph.D., P.Geo., and Gary Simmons, B.Sc. MMSA (the "Kinsley Technical Report"), available at www.nevadasunrise.ca/investors or under the Company's SEDAR profile at www.sedar.com.

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, cobalt, copper and lithium exploration projects in Nevada, USA.

The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah, currently the subject of a transaction with Emgold Mining Corporation (TSXV: EMR), and a 21% interest in a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD) near Wendover, with each of the properties subject to certain production royalties.

In November 2017, Nevada Sunrise announced an option to earn a 100% interest in the historic Lovelock Cobalt Mine property, located approximately 100 miles (150 kilometers) east of Reno. In March 2018, the Company announced options to earn 100% interests in the Treasure Box and Boyer Mine copper properties, located approximately 3.6 miles (5.8 kilometers) southwest of the Lovelock Cobalt Mine.

Nevada Sunrise began acquisitions of Nevada lithium properties in 2015, which includes 100% interests in the Neptune, Jackson Wash and Aquarius projects, a 50% interest in the Gemini project (Eureka Resources Inc. (TSXV: EUK) holds a 50% interest), and a 100% interest in the Atlantis project, currently under option to American Lithium Corp. (TSXV: LI).

" I can't complain , but sometimes I still do . "
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