VANCOUVER, BC, July 10,
2023 /CNW/ - Nevada Sunrise Metals Corp.
("Nevada Sunrise", or the "Company") (TSXV: NEV) (OTC:
NVSGF) is pleased to announce the engagement of ABH Engineering
Inc. ("ABH") for engineering studies on its 100%-owned
Gemini Lithium Project ("Gemini", or the "Project"). Gemini is
located in the Lida Valley basin in Esmeralda County, Nevada, where Nevada Sunrise
made a significant lithium-in-sediment discovery by drilling in
2022 and 2023. ABH has initiated the process of data verification
and desktop analysis of the drill data in order to produce a
National Instrument 43-101-compliant technical report for the
Project, with the further goal of generating a preliminary economic
assessment ("PEA").
About ABH
ABH Engineering Inc. is a mining engineering company based in
Surrey, BC, Canada, offering
geology, mining, and processing services to the mining sector. With
key experience in open pit, underground, ore sorting, plant design,
and optimization, ABH is committed to deliver maximum value to its
clients, while considering the evolving landscape of new mining
technology.
ABH strives to be an innovator in mine design. With the proper
application of technology, ABH's technical team has
consistently added over 40% in net present value to mining
projects, prevented the closing of historic mines, and averted the
release of untold tonnes of CO2 into the atmosphere,
while boosting mine economics in an environmentally sustainable
way.
About Gemini
Gemini consists of 582 unpatented placer and lode claims 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 Albemarle 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 BLM 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.
In March and April 2022, Nevada
Sunrise drilled two RC boreholes for a total of 2,020 feet (615.85
metres) in its maiden drilling program at Gemini. The drill sites
were located within a defined gravity low that hosts conductive
layers detected by historical ground electromagnetic surveys. The
results from the first two holes at Gemini represented a new
discovery of lithium mineralization in the western Lida Valley,
which was not historically drill tested for lithium (see Nevada
Sunrise news release dated May 18,
2022). Three additional boreholes totaling 5,310
feet (1,618.9 metres) were completed from October 2022 to April
2023, with each intersecting lithium mineralization (see
Nevada Sunrise news release dated May 24,
2023). Metallurgical tests carried out on Gemini
lithium-in-sediment mineralization in 2023 has achieved a 90.2%
lithium extraction rate (see Nevada Sunrise news release dated
June 5, 2023).
For further information on Gemini, including maps and photos
click here
Sampling and Analytical QA/QC and
Statement of Qualified Person
Sediment samples from the Gemini 2022-2023 drilling program were
submitted to American Assay and ALS Global USA in Reno,
NV and were analyzed utilizing a multi-element ICP-AES
method. Specifically, the analytical method involves aqua regia
digestion of the sample followed by the inductively coupled plasma
(ICP) technique to ionize the sample, and atomic emission
spectrometry (AES) to determine elemental concentrations.
Duplicates, field blanks, and certified reference standards were
inserted at regular intervals in the sample stream to ensure
accuracy of the analytical method.
The scientific and technical information contained in this news
release has been reviewed and approved by Robert M. Allender, Jr., CPG, RG, SME, 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, with
no applicable royalties, 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.
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).
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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.
Website: www.nevadasunrise.ca
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
results and outcomes of the Company's 2022-2023 exploration
activities and future plans at the Gemini Lithium Project; 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 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 Six Months ending March
31, 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