Nevada Sunrise Gold (NEV-V) Jan 16, '14 Kinsley Mountain LLC joint venture intends to begin the 2014 drill program on Jan. 18, 2014, at the Kinsley Mountain property, located in Elko county, Nevada. The initial winter drilling program of 3,700 metres will focus on infilling and extending the Western Flank toward the Right Spot target, where host rocks returned significant gold values in road cut sampling. Drill results from the Western Flank and Right Spot sampling suggest that the targets may result in a gold mineralized zone stretching more than one kilometre.
2013 drill highlights from Kinsley Mountain include:
- 8.53 grams per tonne gold (Au) over 36.6 metres in PK091CA, including:
- 29.4 g/t Au over 7.6 metres.
- 5.00 g/t Au over 7.6 metres and 4.71 g/t over 7.3 metres in PK096C;
- 2.50 g/t Au over 24.4 metres in PK104C;
- 1.65 g/t Au over 24.4 metres in PK074;
- 6.34 g/t Au over 5.9 metres in PK106C, including:
- 9.91 g/t Au over 3.4 metres.
The 2014 Kinsley Mountain exploration program is budgeted at $4.47-million (U.S.). Pilot Gold Inc., operator of exploration at Kinsley Mountain, holds an approximate 78-per-cent interest in the joint venture, and Nevada Sunrise, through its subsidiary Intor Resources Corp., holds an approximate 22-per-cent interest. Intor has notified Pilot Gold of its intention to finance its approximate $941,000 (U.S.) share of the proposed program in 2014.
Additional exploration drilling in 2014 will focus on targets south of the Western Flank and the past-producing Kinsley mine where prior drilling, geologic mapping and geochemistry defined a series of robust exploration targets hosted in the Candland Shale and Secret Canyon Shale. Candland Shale is a historically exploited regional gold host while the underlying Secret Canyon Shale provides a new host horizon discovered last year in hole PK091CA. Targets will be drilled within the historical mine area where the Secret Canyon Shale remains untested. These southern targets are drill ready and permitted under the existing Kinsley Mountain plan of operations.
Drill testing of priority exploration targets up to seven kilometres to the north of the historical mine area will occur upon receipt of an amended plan of operations. Large geochemical anomalies, strong gold values in surface rock samples and extensive geologic mapping have confirmed the presence of key structures and regional stratigraphic gold hosts at Kinsley North, and have defined drill targets. An amendment to the existing plan of operations was submitted on Nov. 6, 2013.
About Kinsley Mountain
Kinsley Mountain hosts near-surface mineralization similar to other Carlin-style, sediment-hosted gold systems along a 2.2-kilometre strike extent. The property consists of 380 claims and 7,650 acres (3,095 hectares) on U.S. Bureau of Land Management land and hosts a past-producing mine with an extensive exploration database and numerous, untested gold targets. Gold mineralization is primarily oxidized, and occurs in stratiform zones and fault collapse breccias within a sequence of Cambrian-Ordovician shelf carbonates. At depth, Pilot Gold has also drilled high-grade transitional and sulphide mineralization.
Kinsley Mountain is an early-stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 standards of disclosure for mineral projects. 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 delineated as a mineral resource.
Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 30 to 100 per cent of the reported lengths. Drill samples were assayed by ALS Chemex (ISO9001:2000) in Reno, Nev., for gold by fire assay of a 30-gram (one-assay-ton) charge with an AA finish, or if over 5.0 g/t were reassayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 part per million an addition cyanide leach analysis is done where the sample is treated with a 0.25-per-cent NACN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS. Quality assurance/quality control for all drill samples consists of the insertion and continual monitoring of numerous standards, blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multielement geochemical suite by ICP-MS.
John R. Kerr, PEng, is the company's designated qualified person for this news release within the meaning of NI 43-101 and has reviewed and approved the technical information contained in this release.
For further information about Kinsley please refer to a technical report entitled "Technical report on the Kinsley project, Elko county, Nevada, USA," effective Feb. 15, 2012, and dated March 26, 2012, prepared by Michael M. Gustin, CPG, of Mine Development Associates, and Moira Smith, PhD, PGeo, and Kent Samuelson of Pilot Gold, filed on May 9, 2012, under Nevada Sunrise's issuer profile on SEDAR and also available for viewing on Nevada Sunrise's website.
Nevada Sunrise wishes to inform its shareholders that as of Jan. 13, 2014, its new website address has a .ca extension and that it will no longer update or support its former website address. |
