Nevada Sunrise JV drills 12.6 g/t gold over 20 metres at Kinsley, Nevada
Nevada Sunrise Metals Corp.’s [TSXV-NEV; OTC- NVSGF] joint venture partner, CopAur Minerals Inc. [TSXV-CPAU; OTCQX-COPAF], has released the results from the first diamond drill hole completed during 2023 exploration at the Kinsley Mountain gold project in Elko county, Nevada.
Diamond drill hole KMD23-01, located in the Western Flank Zone (the WFZ) approximately 550 metres northwest of the past-producing pits at Kinsley Mountain, returned a value by fire assay of 12.6 g/t gold over 20.3 metres; including 29.4 g/t gold over 4.7 metres.
Hole KMD23,01 was planned to test below historical drill hole PK091CA, which provided the initial high-grade gold discovery at WFZ in 2013. Subsequent drilling campaigns outlined a significant gold resource in the WFZ. Copaur’s hole KMD23-01, the first drill hole at the Project since 2020, successfully confirmed another high-grade gold mineralized intersect in an area of lower drill density within the WFZ.
A total of seven (7) RC drill holes and three diamond drill holes comprising 2,285 metres (7,495 feet) were completed in 2023 at the high-grade Western Flank Zone, the Main Pit North, and the new Kinsley Ridge target.
Drill hole KMD23-01 returned 20.3 metres of 12.55 g/t gold, including 4.7 mtres of 29.43 g/t gold. True are interpreted to be 605-90% of reported widths.
Kinsley Mountain hosts a historic past-producing mine that yielded 138,000 ounces of near-surface, open-pit oxide gold mined by Alta Gold Company between 1995-1999.
The Project hosts current indicated mineral resources comprising a NI 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t gold (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t gold.
Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the Western Flank Zone.
Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, Nevada. 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, Nevada with Copaur Minerals Inc. The company has elected not to contribute to the 2023 exploration program at Kinsley Mountain and expects to incur dilution of its participating interest in the joint venture to an approximate 19.0% interest.
Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located approximately 48 km (30 miles) southeast of Winnemucca, Nevada.