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).
