VANCOUVER, March 6, 2017 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that a drilling permit has been received from the U.S. Bureau of Land Management (the "BLM") for its 100% owned Roulette Gold Project ("Roulette") located at the southeastern extent of the Carlin Trend in White Pine County, eastern Nevada, USA. In addition, a performance bond submitted by the Company has been accepted by the BLM to allow construction of up to nine drill pads and their associated access roads. Flagging of access roads and construction of drill pads for the first three target areas is underway and drilling is expected to commence as soon as ground conditions permit.
2017 Drilling Program
Exploration at Roulette is focussed on determining the extent of two jasperoid outcrops ("Parlay" and "Gambit") known from historical prospecting and mapping, one of which is mineralized. The Parlay jasperoid was sampled in August 2014 by Nevada Sunrise and returned 4.44 grams/tonne gold over a sample length of 3.30 metres (10 feet), and 1.05 grams/tonne gold over a sample length of 2.64 metres (8 feet). Subsequent geochemical and geophysical surveys by Nevada Sunrise in 2015 and 2016 were integrated into a 3D model, which assisted in identifying several high-priority targets based on chargeability and geochemical anomalies, favourable lithology and interpreted structures (see Nevada Sunrise news release dated December 7, 2016).
"Our work at Roulette has provided promising drill targets that exhibit the geological characteristics of a Carlin-style gold deposit," said Warren Stanyer, President and CEO of Nevada Sunrise. "We are eager to begin this drilling program in a fertile district for gold mineralization."
Three holes totalling approximately 1,000 metres (3,280 feet) are planned for the first phase of drilling, using reverse circulation drilling equipment. Follow-up drilling will be based on the results of the initial drilling.
A "depth slices" animated plan map of the combined 2015-2016 geophysical surveys and a screenshot from the 3D model showing one of the primary Roulette targets can be viewed on the Company's website at http://www.nevadasunrise.ca/projects/roulette/.
About Roulette
Roulette (formerly known as the Grulla property) consists of 120 unpatented claims totaling 971 hectares (2,400 acres) located approximately 45 kilometers (30 miles) north of Ely, Nevada. Roulette was acquired from an underlying vendor by Nevada Sunrise in 2014 (see Nevada Sunrise news release dated November 14, 2014).
To the north of Roulette is McEwen Mining Inc.'s ("McEwen") Limousine Butte project, which according to McEwen's public disclosure, hosts three deposits containing a measured plus indicated resource of 241,080 ounces of gold, and an inferred resource of 50,700 ounces of gold (Source: "NI 43-101 Technical Report for the Limousine Butte Project, White Pine County Nevada", dated July 1, 2009, authored by Telesto Nevada Inc.). To the northwest, Freeport-McMoran Inc. ("Freeport") holds a large claim block (approximately 30,000 acres, or 12,000 hectares) prospective for porphyry copper/gold deposits, which encompasses the Butte Valley copper prospect Freeport acquired in 2012 from Quaterra Resources Inc.
The conceptual target at Roulette is a sediment-hosted, Carlin-type, disseminated gold deposit. Gold is commonly micron-sized, and is associated with hydrothermal alteration of carbonate host rocks. Nevada Sunrise believes that Roulette is under-explored, and until 2015-2016, there is no known ground or airborne geophysical data in the public record. Any historical drilling is unconfirmed as to drill hole location, footage or results.
Roulette shows geological similarities to the Alligator Ridge gold deposits located about 36 kilometers (24 miles) to the west, now part of Barrick Gold's Bald Mountain gold mine. The Alligator Ridge mine was discovered in the mid-1970s and produced approximately 700,000 ounces of gold from three deposits in the 1980s. Roulette and Alligator Ridge share certain sedimentary rock formations known to host Carlin-style mineralization, namely a sequence of Devonian/Mississippian limestones and shales including the Guilmette Limestone, Pilot Shale, Joana Limestone and Chainman Shale. Nevada Sunrise considers the geological setting of Alligator Ridge as a model for future exploration on the Roulette Project.
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.
