Nevada Sunrise Metals Corp.’s [TSXV-NEV; OTC-NVSGF] joint venture partner, CopAur Minerals Inc. [TSXV-CPASU; OTCQX-COPAF], has reported the results from the final three reverse circulation holes completed during 2023 exploration at the Kinsley Mountain gold project in Elko County, Nevada.
Resource expansion drilling during 2023 at the Main Pit North zone has intersected oxide gold intercepts higher than the resource cut-off of 0.2 g/t gold. The current results, in conjunction with the previous 2023 results and historical drilling by previous operators, suggest an emerging zone of mineralization at Main Pit North extending outside of the current resource pit shell. These new intercepts have not been included in any resource calculations.
Kinsley Mountain Final RC Drill Holes: Hole KRM23-05 returned 7.6 metres of 0/42 g/t gold. Hole KMR23-07 returned 13.7 metres of 0.51 g/t gold.
RC drill hole KMR23-06 at Main Pit North experienced poor recovery, leaving insufficient material for sampling.
A total of seven 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. Results from the remaining holes of the 2023 program will be released following their receipt and interpretation by CopAur, operator of the project.
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 to 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 Zone1.
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, 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 its 20.01% interest in a joint venture with CopAur Minerals Inc. at the Kinsley Mountain Gold Project near Wendover, NV. Due to its current focus on lithium exploration and development in Nevada, 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, NV.