Nevada Sunrise Metals JV drills 2.22 g/t gold over 25.9 metres at Kinsley, Nevada
Nevada Sunrise Metals Corp.’s joint venture partner, Copaur Minerals Inc. [TSXV-CPAU], has released the results from the first four reverse circulation (RC) holes completed during 2023 exploration at the Kinsley Mountain gold project in Elko county, Nevada.
The four RC holes reported today targeted near-surface oxide gold mineralization within the Main Pit North area located 1 km (0.62 miles) southeast of the Western Flank Zone. Drilling at Main Pit North during 2020 intersected high-grade oxide gold intercepts within the gold-hosting Dunderberg shale approximately 75 metres (246 feet) outside the current resource pit shell, thus providing opportunities for near-pit resource expansion.
Hole KMR23-03, collared 200 metres (656 feet) north of the current pit shell, returned 2.22 g/t oxide gold over 25.9 metres (85 feet), including 4.2 g/t oxide gold over 10.7 metres (35 feet). The intercept is significant given that at depth it lies within 50 metres (164 feet) of the current oxide resource pit shell.
Together with prior RC drilling by the Kinsley Mountain joint venture outside the historical pit limits, including drill hole KMR20-030 that yielded 9.83 g/t oxide gold over 7.6 metres (25 feet), this new intercept reaffirms the presence of an oxide gold mineralized stratigraphic interval of approximately 30 metres (98 feet) true thickness hosted within the Dunderberg shale and underlying Hamburg limestone that warrants additional drilling.
Drill holes KMR23-04 and KMR23-02 flanking KMR23-03 to the west and east returned 2.02 g/t gold over 7.6 metres (25 feet) and 1.5 g/t gold over 4.6 metres (15.1 feet), respectively further demonstrating the significance of the Dunderberg-Hamburg units as the premiere oxide gold host at Kinsley Mountain. Drill hole KMR23-01 did not return significant intercepts.
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 five holes drilled in the 2023 program will be released following their receipt and interpretation by CopAur, operator of the P\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 1995-1999.
The Project hosts current indicated mineral resources comprising a National Instrument 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 gold1.
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. 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 can earn a 100% interest in the Coronado VMS Project, located approximately 48 km (30 miles) southeast of Winnemucca, Nevada.