Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company")
(TSX-V:NEV) is pleased to announce that Pilot Gold Inc. ("Pilot
Gold") (TSX:PLG) has reported results from the remaining holes from
the 2014 drill program at the Kinsley Mountain Project in eastern
Nevada ("Kinsley Mountain", or the "Property"). Kinsley Mountain is
a joint venture between Pilot Gold and Nevada Sunrise, with Pilot
Gold holding a 79.1 per cent interest, and Nevada Sunrise, through
a wholly-owned U.S. subsidiary, holding a 20.9 per cent interest.
Pilot Gold drill tested the 550 metre-long gap between the
Western Flank high-grade gold zone and the historical pits in the
Kinsley Trend with three holes in a fan from one drill site. The
northerly of the three reverse-circulation ("RC") holes provides
the first confirmation of the geologic model that high-grade
mineralization is present between the two mineralized zones:
- 6.15 grams per tonne ("g/t") gold over 7.6 metres in
PK200, including
- 8.73 g/t gold over 4.6 metres (Secret Canyon Shale
host)
In 2015, the Kinsley Mountain joint venture plans to test a
number of new targets in the main claims area as well as first-pass
drilling of the Kinsley North area.
Silica Knob Target Area
A single RC hole tested the intersection of a NW-striking fault
and the northern extension of the NNE-striking Western Flank
structure located approximately 1.4 km north of the Western Flank
high-grade zone. PK203 encountered significant alteration and
returned 0.4 g/t gold over 9.1 metres, including 1.2 g/t gold over
1.5 metres in the Secret Canyon Shale target interval. This
test extends the area of potential gold mineralization along the
Western Flank of the Kinsley range to over 3 kilometres, and
importantly, provides additional proof of concept that gold is
present at the intersections of NW- and NNE- trending
structures.
2014 Project Highlights
2014 was a pivotal year for Kinsley Mountain, with results
demonstrating that gold is concentrated at the intersections of NW
and NNE-trending high-angle structures and that the Secret Canyon
Shale horizon, host to the high-grade mineralization in the Western
Flank, is a viable target over the entire property. This horizon is
largely untested, and may host other high-grade zones.
2014 Project Highlights include:
- Continued exploration success at Western Flank high-grade
target, including:
- 6.85 g/t Au over 41.7m in PK127C
- 10.52 g/t Au over 42.7m in PK131C
- 21.3 g/t Au over 29.0m in PK137C
- 6.19 g/t Au over 45.7m in PK175CA
- 10.31 g/t Au over 39.6m in PK186C
- Amended Plan of Operations for additional 23 acres of
disturbance for the Kinsley North claims;
- Secured 1,080 acre feet of water rights;
- Added 63 claims, 1925 acres to the land package;
- Discovered gold mineralization in the Right Spot, Secret Spot
and Silica Knob targets;
- Carried out flotation testing on Secret Canyon Shale-hosted
mineralization, ranging 89 to 95% total recovery and concentrate
grades ranging 98.6 to 312 g/t gold achieved (see Nevada Sunrise
news release dated January 19, 2015).
2015 Program
The 2015 field program at Kinsley Mountain is currently budgeted
at US$2.0 million and will include up to 10,000 metres of RC and
1,000 metres of diamond core drilling. The focus of the 2015
program will be to test a number of high-priority targets that
could lead to discovery of additional mineralization similar in
nature to the high-grade Western Flank zone. Targets range
from early-stage tests in the Kinsley North area to fan drilling of
the area between the Western Flank zone and the historical
pits. Exploration of this nature is drill-intensive and
iterative; the program will be continually evaluated in light of
data and interpretations from each and every drill hole. In
addition, an induced polarization geophysical test survey is
planned over the Western Flank target to investigate a
chargeability correlation to sulphide content associated with
strong gold mineralization.
For maps showing the 2014 target areas, and a table of all 2014
Kinsley Mountain drill results, including non-reportable
intercepts, please access Nevada Sunrise's website under
"Exploration-Kinsley Mountain" at:
http://www.nevadasunrise.ca/projects/kinsley-mountain/
John R. Kerr, P.Eng., is the Company's designated Qualified
Person for this news release within the meaning of National
Instrument 43-101 ("NI 43-101") and has reviewed and approved the
technical information contained in this release. Drill
composites were calculated using a cut-off of 0.20 g/t. Drill
intersections are reported as drilled thicknesses. True widths of
the mineralized intervals are interpreted to be between 30-90% of
the reported lengths. Drill samples were assayed by ALS Chemex
(ISO9001:2000) in Reno, Nevada for gold by Fire Assay of a 30 gram
(1 assay ton) charge with an AA finish, or if over 5.0 g/t were
re-assayed and completed with a gravimetric finish. For these
samples, the gravimetric data were utilized in calculating gold
intersections. For any samples assaying over 0.200 ppm an
additional cyanide leach analysis is done where the sample is
treated with a 0.25% NACN solution and rolled for an hour. An
aliquot of the final leach solution is then centrifuged and
analyzed by AAS. QA/QC for all drill samples consists of the
insertion and continual monitoring of numerous standards and blanks
into the sample stream, and the collection of duplicate samples at
random intervals within each batch. Selected holes are also
analyzed for a 51 multi-element geochemical suite by ICP-MS.
About Kinsley Mountain
Kinsley Mountain hosts near-surface mineralization similar to
other Carlin-style, sediment-hosted gold systems. The Property
consists of 469 claims on U.S. Bureau of Land Management land plus
6 leased patents totalling 9,520 acres (3,853 hectares) and hosts a
past-producing mine with an extensive exploration database and
numerous, untested gold targets.
Kinsley Mountain is an early-stage exploration project and does
not contain any mineral resource estimates as defined by NI 43-101.
The potential quantities and grades disclosed herein are conceptual
in nature and there has been insufficient exploration to define a
mineral resource for the targets disclosed herein. It is uncertain
if further exploration will result in these targets being
delineated as a mineral resource.
For further information about Kinsley Mountain please refer to a
technical report entitled "Technical Report on the Kinsley Project,
Elko County, Nevada, U.S.A.", effective February 15, 2012 and dated
March 26, 2012, prepared by Michael M. Gustin, CPG of Mine
Development Associates and Moira Smith, Ph.D., P.Geo. and Kent
Samuelson of Pilot Gold, filed on May 9, 2012 under Nevada
Sunrise's Issuer Profile on SEDAR at www.sedar.com and also
available for viewing on Nevada Sunrise's website at
www.nevadasunrise.ca
About Nevada Sunrise
Nevada Sunrise is a junior gold exploration company with a
strong technical team based in Vancouver, BC, Canada, that holds
interests in three exploration projects in Nevada, USA. Our three
key assets include Kinsley Mountain near Wendover, the Golden Arrow
project near Tonopah, and the recently-acquired Roulette property
(formerly known as the Grulla property) near Ely, Nevada.
FORWARD LOOKING STATEMENTS
All statements in this release, other than statements of
historical fact, are "forward-looking information" with respect to
Nevada Sunrise Gold Corporation ("Nevada Sunrise") within the
meaning of applicable Canadian securities laws, including
statements that address future mineral production, reserve
potential, exploration drilling, the future price of gold,
potential quantity and/or grade of minerals, potential size of a
mineralized zone, potential expansion of mineralization, the timing
and results of future resource estimates, or other study, proposed
exploration and development of our exploration properties and the
estimation of mineral resources. Forward-looking information is
often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "estimate", "expect",
"project", "predict", "potential", "targeting", "intends",
"believe", "potential", and similar expressions, or describes a
"goal", or variation of such words and phrases or state that
certain actions, events or results "may", "should", "could",
"would", "might" or "will" be taken, occur or be achieved. These
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievement of Nevada Sunrise to differ materially from those
anticipated in such forward-looking information.
Such factors include, among others, risks related to the
interpretation and actual results of historical production at
Kinsley Mountain, reliance on technical information provided by
third parties on any of our exploration properties, including
access to historical information on the Kinsley Mountain property
as well as specific historic data associated with and drill results
from the property, information from Pilot Gold Inc., current
exploration and development activities; changes in project
parameters as plans continue to be refined; current economic
conditions; future prices of commodities; possible variations in
grade or recovery rates; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; failure of Pilot Gold Inc., to complete anticipated work
programs; labor disputes and other risks of the mining industry;
delays in obtaining governmental approvals, financing or in the
completion of exploration, as well as those factors discussed in
the section entitled "Risk Factors" in the Company's Management
Discussion and Analysis for the Three Months ended December 31,
2014, which is available under Company's SEDAR profile at
www.sedar.com.
Although Nevada Sunrise has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Nevada Sunrise disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise. Accordingly, readers should not place undue reliance
on forward-looking information.
Forward-looking statements are made as of the date hereof and
accordingly are subject to change after such date. Except as
otherwise indicated by Nevada Sunrise, these statements do not
reflect the potential impact of any non-recurring or other special
items or of any dispositions, monetizations, mergers, acquisitions,
other business combinations or other transactions that may be
announced or that may occur after the date hereof. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans and allowing
investors and others to get a better understanding of our operating
environment. Nevada Sunrise does not undertake to update any
forward-looking statements that are included in this document,
except in accordance with applicable securities laws.
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.
CONTACT: For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer
Telephone: (604) 428-8028
Facsimile: (604) 689-5528
Email: warrenstanyer@nevadasunrise.ca
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