March 23, 2015, Vancouver, British Columbia - Nevada Sunrise Gold Corporation (“Nevada Sunrise” or the “Company”) (TSXV: NEV) is pleased to announce that the 2015 exploration program at the Kinsley Mountain Project (“Kinsley Mountain”, or the “Property”) has begun. Kinsley Mountain, located in eastern Nevada, is a joint venture between Pilot Gold Inc. (“Pilot Gold”) (TSX:PLG) and Nevada Sunrise, with Pilot Gold holding a 79.1 percent interest, and Nevada Sunrise, through a wholly-owned U.S. subsidiary, holding a 20.9 percent interest.
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, primarily defined by intersections of NW- and NNE-trending structures that could lead to discovery of additional gold 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 sequential; the exploration program will be continually evaluated in light of data and interpretations from each and every drill hole.
2014 was a pivotal year at 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.
Given the high gold grades and positive metallurgical results of the Secret Canyon Shale-hosted mineralization in the Western Flank zone (see Nevada Sunrise news release dated January 19, 2015), the aim of the 2015 program is to identify other zones of mineralization along similar structural settings across the property. Further drilling of the Western Flank target is also planned to fully define its extents, with an emphasis on possible extensions of the mineralization to the east towards the historical Kinsley Mine.
Key targets are the Secret Canyon Shale-hosted horizon along the western side of the Kinsley Mountains, the Kinsley North claims, north and south of the Western Flank target, the Racetrack and Secret Spot targets, along the Kinsley trend, and at the Keneroid target. An induced polarization geophysical test survey is underway to investigate a chargeability correlation to sulphide content associated with strong gold mineralization. In addition, further metallurgical testing of the Western Flank mineralization is planned.
For maps showing the 2015 target areas, and a table of all 2014 Kinsley Mountain drill results, 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.
About Kinsley Mountain
Kinsley Mountain hosts near-surface mineralization similar to other Carlin-style, sediment-hosted gold systems. The Property consists of 475 claims on U.S. Bureau of Land Management land plus 5 leased patents totalling 9,574 acres (3,875 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 host to a mineral resource.
Further information on Kinsley Mountain is available in the recently filed NI 43-101 Technical Report entitled "Updated Technical Report on the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A." (the “Report”), effective March 1, 2015 and dated March 19, 2015, available on Nevada Sunrise’s SEDAR listing at http://www.sedar.comand on Nevada Sunrise’s website.The Report was prepared by Michael M. Gustin, C.P.G. of Mine Development Associates, Pilot Gold Chief Geologist, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA from GL Simmons Consulting LLC. Each of Messrs. Gustin and Simmons and Dr. Smith are Qualified Persons for the purposes of NI 43-101.
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.
For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer
Telephone: (604) 428-8028
Facsimile: (604) 484-7143
Email: warrenstanyer@nevadasunrise.ca
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.
