Nevada Sunrise updates Phase 2 drilling at Gemini Lithium Project, Nevada

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Nevada Sunrise Metals Corp. [NEV-TSXV; NVSGF-OTC], formerly Nevada Sunrise Gold Corp., reported that commencement of the Phase 2 drilling program at the 100%-owned Gemini Lithium Project is imminent.

Gemini is located in the Lida Valley basin in Esmeralda County, Nevada approximately 23 miles (35 km) southeast of North America’s only lithium mine at Silver Peak, Nevada. The Phase 2 drilling program is permitted for up to 12 borehole locations and is planned as follow-up to the two successful boreholes that intersected significant lithium values during the maiden drilling program at Gemini in March and April 2022.

The drilling contractor selected by Nevada Sunrise experienced delays at its previous work site during September and has provided assurance that the drill and crew will be mobilizing to Gemini in early October 2022. The first drill hole of the program is GEM22-03, which is planned to reach a minimum depth of 1,500 feet (457 metres). Up to six boreholes are planned in Phase 2 for an estimated total of 8,000 feet (2,439 metres) of drilling. The exploration goals for the Phase 2 program are: (1) test lithium-bearing brine and sediments at greater depths than previous boreholes GEM22-01 and GEM22-02, and (2) determine the lateral extent of lithium-mineralized brine and sediments identified in the previous Gemini drill holes. Drill hole locations may be amended or revised during the Phase 2 program as results warrant.

Gemini consists of 582 unpatented placer and lode claims located in the western Lida Valley, Esmeralda County, approximately 6 miles (10 km) east of the town of Lida, Nevada. In the spring of 2022, Nevada Sunrise expanded the size of the project to a land position covering approximately 5,700 acres (2,300 hectares). 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.

The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated continuously since 1966. 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. Under State of Nevada law, water cannot be pumped from a subterranean source without a valid water permit.

Nevada Sunrise drilled two reverse circulation (“RC”) boreholes for a total of 2,020 feet (615.85 metres) in its maiden drilling program at Gemini in March and April 2022. The initial results represent a new discovery of lithium-bearing sediments and lithium-in-water in the western Lida Valley, which has not been historically drill tested for lithium mineralization. The analytical results from boreholes GEM22-01 and GEM22-02, located 0.69 miles (1.1 km) apart suggest that the extent of lithium-bearing clay layers and waters at Gemini may be widespread:

Borehole GEM22-01: weighted-average of 1,203.41 parts per million (ppm) lithium over 580 feet (176.83 metres) from 320 to 900 feet (97.56 to 274.39 metres), including 1,578.19 ppm lithium over 300 feet (91.46 metres).

Borehole GEM22-02: weighted-average of 1,101.73 ppm lithium over 730 feet (222.56 metres) from 390 to 1,120 feet (118.90 to 341.46 metres), including 2,217.69 ppm lithium over 130 feet (39.63 metres) and 3,304.34 ppm lithium over 50 feet (15.24 metres).

Water samples from borehole GEM-22-01 averaged 327.7 milligrams per litre (mg/L) lithium over 220 feet (67.07 metres) from 600 to 820 feet (182.93 to 250 metres) with a peak value of 519 mg/L lithium. Water samples from borehole GEM22-02 returned an average of 116.28 mg/L lithium over 460 feet (140.24 metres) from 660 to 1,120 feet (201.22 to 341.46 metres) with a peak value of 286.0 mg/L lithium.

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