VANCOUVER, Oct. 18, 2016 - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) and its joint venture partner, Advantage Lithium Corp. ("Advantage Lithium") (TSXV: AAL) are pleased to announce that a drilling program has begun at their Clayton Northeast lithium brine exploration project ("Clayton NE") in the Clayton Valley, Nevada. Clayton NE borders the Silver Peak mine operated by Albemarle Corporation ("Albemarle") (NYSE: ALB), North America's only producing lithium mine. Three reverse circulation drill holes totaling approximately 1,500 metres (4,570 feet) will focus on high-priority lithium brine targets close to the Silver Peak mine border and several of Albemarle's production wells.
In September 2016, an 11.0 line-km Volterra 3D-IP ground geophysical survey was carried out over the Clayton NE project area. The geophysical survey successfully imaged highly-conductive horizons to the survey limit of approximately 800 metres depth, and these conductive zones are interpreted as brine formations. The northeast trending Angel Island fault appears to bound the conductive horizons parallel to and proximal to the eastern claim boundary at Clayton NE.
2016 Drilling Program Highlights
- Three priority drill targets have been chosen to best intersect the broadest and most conductive zones detected by the geophysical survey.
- Historical drilling within the Clayton NE project area by the United States Geological Survey ("USGS") was reported to encounter elevated lithium values in ground water.
- Nevada Sunrise and Advantage Lithium are the only lithium explorers in the Clayton Valley, other than Albemarle, with access to certified water rights for the purposes of future development.
For further information on Clayton NE, including location maps, see the Company's website under "Projects-Nevada Lithium" at: http://www.nevadasunrise.ca/projects/nevadalithium/
About Clayton NE
- Consists of 50 claims totaling approximately 1,000 acres (405 hectares);
- It is reported in the USGS Open-File Report 82-415 (1982) that a historical drill-hole (CV-5) is located on the Clayton NE property. Hole CV-5 encountered lithium values in groundwater ranging from 24 parts per million ("ppm") to 110 ppm, averaging 67.5 ppm. The hole was part of a 1977 regional drilling program carried out by the USGS. Nevada Sunrise and Advantage Lithium believe that drilling deeper holes at Clayton NE could intersect additional aquifers potentially hosting brines of similar or better contents of lithium than were encountered in the relatively shallow historical hole;
- Nevada Sunrise is the project manager at Clayton NE on behalf of Advantage Lithium, the operator.
Robert M. Allender, Jr., CPG, RG, SME is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained herein.
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 mineral exploration projects in the State of Nevada, USA. Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include options to earn a 75% interest in the Neptune project (Resolve Ventures Inc., TSXV: RSV, owns a 25% interest), a 100% interest in the Clayton Northeast project, 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 has a 50% participating interest in the Gemini project, each located in playas proximal to the Clayton Valley. The Company has recently optioned its interests in five of the Nevada lithium projects to Advantage Lithium Corp. (TSXV: AAL), and the Atlantis project is currently under option to American Lithium Corp. (TSXV: LI).
The Company's three key gold assets include a 21% interest in a joint venture with Pilot Gold Inc. (TSX: PLG) at Kinsley Mountain near Wendover, a 100% interest in the Golden Arrow project near Tonopah, and an option to earn a 100% interest in the Roulette gold property in the southeastern Carlin trend near Ely, with each of the properties subject to certain production royalties.
