TSX Venture Exchange: NEV
VANCOUVER, June 23, 2017 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) wishes to update its shareholders on the drilling program recently completed on the Roulette Gold Project ("Roulette") located in White Pine County, Nevada, USA.
2017 Roulette Drilling Program
The 2017 drilling program at Roulette consisted of four reverse circulation holes totaling approximately 3,480 feet (1,060 metres). Three of the drill holes tested targets chosen from geophysical and/or geochemical surveys carried out by Nevada Sunrise. The first three holes did not encounter significant gold mineralization. A fourth hole was subsequently planned and permitted, targeting the possible depth extent of the Parlay mineralized jasperoid, where outcrop sampling in 2014 by the Company returned 4.44 grams/tonne gold over 3.33 metres (see Nevada Sunrise news release dated November 17, 2014). The fourth drill hole did not encounter any significant gold mineralization.
Consequently, the Company has terminated the option-to-purchase agreement for Roulette.
John R. Kerr, P. Eng., is the Company's designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in nine gold and lithium mineral exploration projects in the State of Nevada, USA.
The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah, and a 21% interest in a joint venture with Liberty Gold Corp. (TSX: LGD, formerly Pilot Gold Inc.) at Kinsley Mountain, with each of the properties subject to certain production royalties.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include options to earn 100% interests in the Neptune (Resolve Ventures,TSXV: RSV owns a 25% interest in Neptune), Clayton Northeast and Triton projects, and a 100% interest in the Aquarius project, all located in the Clayton Valley area. The Company also holds options to earn 100% interests in the Jackson Wash and Atlantis projects, and holds a 3% gross overriding royalty interest in in the Gemini project, each located in playas proximal to the Clayton Valley. The Company has optioned six of its Nevada lithium projects to Advantage Lithium Corp., (TSXV: AAL), who has earned a 51% interest in Clayton Northeast, Triton, Aquarius, and Jackson Wash projects, and a 50% interest in the Gemini, project. The Atlantis project is currently under option to American Lithium Corp. (TSXV: LI).
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 current or future mineral 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 work at the Roulette property, reliance on technical information provided by third parties on any of our exploration properties, including access to historical information on the Roulette property, 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 Nevada Sunrise 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 Six Months ended March 31, 2017, 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.
SOURCE Nevada Sunrise Gold Corporation
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604) 428-8028, Facsimile: (604) 484-7143, email: [email protected]