Nevada Sunrise Metals Corp (NVSGF)

[molee]

Ah , a near miss ...

Nevada Sunrise Announces Drilling Results from Coronado VMS Project

TSX Venture Exchange: NEV

VANCOUVER , Jan. 10, 2019 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (NEV.V) announced today the results of the first diamond drill hole at the Coronado VMS property ("Coronado", or the "Project"), located in the Tobin and Sonoma Range of Pershing County, Nevada , approximately 48 kilometers (30 miles) southeast of Winnemucca . Sulphides were encountered in the hole above and below a wide fault zone, but geochemical values of metals such as copper, gold, nickel, cobalt and zinc were low, and not of economic interest. However, Nevada Sunrise believes that as a first test of the Coronado South geophysical anomaly, drill hole COR18-01 represents a "near-miss" of the best part of the target, and that further drilling is warranted at the Project.

Nevada Sunrise Gold Corporation (CNW Group/Nevada Sunrise Gold Corporation)View photos
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Summary of COR18-01

Hole COR18-01 was completed at the Coronado South target to a depth of 375.73 metres (1,232 feet). Winter drilling conditions necessitated an alternate location for the initial drill hole and a site approximately 170 metres (550 feet) from the original location was chosen to test an electromagnetic ("EM") anomaly detected in an airborne survey carried out by the Company in July 2018. The drill hole intersected what is believed to be the stratigraphic upper portion of the host volcanic section for the EM anomaly, which demonstrated a complex structural regime.

Downhole conditions were difficult during the program and daily drilling progress was slower than anticipated. An altered volcanic section that included argillites, basalt flows and flow breccias was intersected below 164.6 to 194.5 metres (540 feet to 638 feet) before being faulted off. This section is interpreted to be the stratigraphic hanging wall to the EM conductor. Significant hydrothermal epidote-chlorite alteration was evident in the flows and flow breccias below 188 metres (618 feet). After intersecting the volcanic section and fault zone, the hole encountered a different structural block dominated by bedded cherts. The fault structure is believed to have disrupted the stratigraphic lower portion of the host volcanic sequence and position of the conductor by displacing it to the east. The Company's geologists observed that the drill hole passed through at least three major fault zones. Several weakly-developed stockwork sulphide zones were encountered deeper in the hole at depth intervals from 268.2 to 274.4 metres (881 to 900 feet) and 313.1 to 316.46 metres (1027 to 1038 feet). These zones consisted of fracture-controlled, cross-cutting, and fresh to strongly oxidized pyrite veinlets and disseminations (< 1%).

Additional drilling at Coronado in the spring of 2019 is planned following receipt of key amendments to the drill permit issued by the Bureau of Land Management in order to provide better access to the first priority target area. Maps and photos of the Project can be viewed at: http://www.nevadasunrise.ca/projects/coronado-vms-project/

A brief video presentation on Coronado and the Coronado North and South VTEM™ targets can be viewed here: https://player.vimeo.com/video/291807706

Core samples were collected from both sulphide zones and shipped to SRC Geoanalytical Laboratories in Saskatoon, SK for multi-element analysis by ICP-OES with aqua regia digestion for certain elements, and fire assay for gold. Theodore DeMatties , CPG, PG, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained herein. Readers are cautioned that some of the technical information described in this news release is historical in nature; however, the information is deemed credible and was produced by professional geologists of the eras discussed. Mineralization located on adjacent properties by historical exploration may not be present on Coronado .

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