Nevada Sunrise Update on Kinsley Mountain Gold Project Drilling Program in Nevada
VANCOUVER, BC, Oct. 7, 2020 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that its joint venture partner New Placer Dome Gold Corp. ("New Placer Dome",TSXV: NGLD) has provided an update on drilling progress at the Kinsley Mountain Gold Project ("Kinsley Mountain"), located near Wendover, Nevada, USA. Nevada Sunrise holds a 20.01% interest in Kinsley Mountain, with New Placer Dome, as operator, holding a 79.99% interest.
As of October 1, 2020, New Placer Dome reports a total of 17 reverse circulation ("RC") drill holes totaling 6,767 metres (22,200 feet) and five diamond drill core holes totaling 2,217 metres (7,274 feet) have been completed at Kinsley Mountain. Over 2,500 samples from nine RC drill holes (KMR20-004 through KMR 20-009, and KMR20-015 through KMR20-017) totaling 4,824 metres of drilling have recently arrived at the ALS Geochemistry laboratory in North Vancouver, BC. These samples represent RC holes from the high-grade Western Flank Gold Zone and the Kinsley Northwest Fault Big Bend areas.
About Kinsley Mountain
Kinsley Mountain is a Carlin-style gold project hosting a N.I. 43-1010 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 grams/tonne ("g/t") gold (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 gold1.
Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada, U.S.A., effective January 15, 2020 and prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (www.sedar.com).
Robert M. Allender, Jr., CPG, RG, SME 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 herein.
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, copper, cobalt and lithium exploration projects located in the State of Nevada, USA.
The Company's key gold asset is a 20% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover.
Nevada Sunrise has the right to earn a 100% interest in the historic Lovelock Cobalt Mine and Treasure Box copper property, each located approximately 150 kilometers (100 miles) east of Reno, both of which are currently under option to Global Energy Metals Corp. (TSXV: GEMC) who can earn up to an 85% participating interest from the Company. In September 2018, Nevada Sunrise acquired the right to earn a 100% interest in the Coronado VMS Project, located in Pershing County, approximately 48 kilometers (30 miles) southeast of Winnemucca.
Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County. The Company owns Nevada water right Permit 44411, located within the Clayton Valley basin near Silver Peak, Nevada.
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. 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.
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 of accuracy of this release. The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.
SOURCE Nevada Sunrise Gold Corporation
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604) 428-8028, Facsimile: (604) 684-9365, email: firstname.lastname@example.org