Vancouver, British Columbia, February 28, 2023: Nevada Sunrise Metals Corp. (“Nevada Sunrise”, or the “Company”) (
TSXV: NEV, OTC: NVSGF) is pleased to announce that the Company has received initial geochemical analyses for lithium mineralization in sediment and groundwater samples collected from the first 1,500 feet (457.32 metres) of borehole GEM23-04, drilled at its 100%-owned Gemini Lithium Project (“Gemini”) located in the Lida Valley basin in Esmeralda County, Nevada. Drilling of borehole GEM23-04 began on January 10, 2023 and was completed to a depth of 1,950 feet (594.51 metres) on February 22, 2023, which represents the deepest hole drilled to date at Gemini. The remaining samples collected in the final 450 feet (137.20 metres) of hole GEM23-04 are still in analytical process.
Highlights of GEM23-04
- Borehole GEM23-04 intersected 1,321.76 parts per million (“ppm”) lithium-in-sediment over 990 feet (301.83 metres) from 510 feet (155.49 metres) to 1,500 feet (457.32 metres), including 3,556.82 ppm lithium over 110 feet (33.54 metres) and 4,329.60 ppm lithium over 30 feet (9.15 metres) (see Table 1 below);
- Water sample analyses showed anomalous concentrations of lithium in groundwater flows, notably an average of 116.43 milligrams/litre (“mg/L”) lithium over 140 feet (42.69 metres), including intervals of 180 mg/L lithium from 1,200 to 1,220 feet (365.85 to 371.95 metres), 230 mg/L lithium from 1,260 to 1,280 feet (384.15 to 390.24 metres), and 200 mg/L lithium from 1,320 to 1,340 feet (402.44 to 408.54 metres). A second discrete interval higher up in the borehole returned 200 mg/L lithium over 20 feet (6.1 metres) from 1,100 to 1,120 feet (335.37 to 341.46 metres) (see Table 2 below);
- GEM23-04 was completed at a location approximately 0.70 miles (1.13 kilometres) southwest of GEM22-01 and 0.65 miles (1.04 kilometres) northwest of GEM22-02, thereby successfully extending the lithium mineralized zone at Gemini to the west.
Table 1. Initial Results of Lithium-in-Sediment Samples for Borehole GEM23-04
| Gemini Lithium Project - Borehole GEM23-04 |
| Depth Interval | Thickness | Lithium
(Weighted
average:
ppm) |
From
(feet) | To
(feet) | From (metres) | To
(metres) | Feet | Metres |
| 510 | 1,500 | 155.49 | 457.32 | 990 | 301.83 | 1,321.76 |
| including: |
| 1,270 | 1,380 | 387.20 | 420.73 | 110 | 33.54 | 3,556.82 |
| and: |
| 1,350 | 1,380 | 411.59 | 420.73 | 30 | 9.15 | 4,329.60 |
Note: Sediment samples are a composite of material collected from the rotary splitter in the RC drilling rig, which produces a continuous, representative 3 to 5 kilogram sample for each sample interval. All depth measurements reported, including sample and interval widths are down-hole. As holes at Gemini are oriented vertical and geologic stratigraphy is primarily horizontal to sub-horizontal, downhole measurements are assumed to be close to true thickness.
Table 2: Initial Results of Lithium-in-Water Samples for Borehole GEM23-04
| Borehole GEM23-04 Water Sample Results |
| Interval | Thickness | Lithium
(mg/L) |
From
(ft.) | To
(ft.) | From
(m) | To
(m) | Feet | Metres |
| 1,100 | 1,120 | 335.37 | 341.46 | 20 | 6.1 | 200 |
| 1,200 | 1,340 | 365.85 | 408.54 | 140 | 408.54 | 116.43 (avg.) |
| including |
| 1,200 | 1,220 | 365.85 | 371.95 | 20 | 6.1 | 180 |
| and |
| 1,260 | 1,280 | 384.15 | 390.24 | 20 | 6.1 | 230 |
| and |
| 1,320 | 1,340 | 402.44 | 408.54 | 20 | 6.1 | 200 |
The Phase 2 drilling program at Gemini continues with borehole GEM23-05, currently underway, collared approximately 1.02 miles (1.64 kilometres) southeast of borehole GEM23-04, and 0.54 miles (0.87 kilometres) south of borehole GEM22-02.
Gemini Lithium Project Hole Borehole Locations, February-March 2023
To date, the Company has intersected significant intervals of lithium mineralization both in sediments and groundwater in all four holes completed since the inception of drilling. Nevada Sunrise believes that the southern and western parts of the Gemini basin could host higher concentrations of lithium and further drilling could eventually define a large lithium resource. The Company is enacting its exploration plan to drill deeper holes at Gemini with the goal of: (1) intersecting wide intervals of lithium-bearing sediments and (2) locating higher concentrations of lithium-in-water coincident with significant groundwater flow rates.