Nevada Sunrise Reports 13.7 Metres of 6.03 g/t Gold at Kinsley Mountain
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/05/12 -- Nevada Sunrise Gold Corp., (TSX VENTURE: NEV) ("Nevada Sunrise" or the "Company") has received further drilling results from Pilot Gold Inc. ("Pilot Gold") and is pleased to report that step-out drilling on the western flank of the Kinsley Mountain Project in northeast Nevada has returned up to 6.03 grams/tonne gold over 13.7 metres, 600 metres northwest of the nearest historical pit. Recent drilling in the Western Flank area has identified a north-trending zone of higher-grade mineralization that is at least 400 metres by 100 metres and remains open in all directions.
Pilot Gold is nearing the end of the 2012 drill program at Kinsley; however, drilling on in the Western Flank area on the west side of the Kinsley Range has been expanded with additional holes targeting higher-grade intercepts. Additional assays are pending.
"Pilot's Gold's work at Kinsley Mountain continues to deliver impressive intercepts of gold mineralization," said William Henderson, President and CEO of Nevada Sunrise. "The potential of the property is growing and we are pleased to be a part of this exciting process."
LATEST DRILL RESULTS
Western Flank of Kinsley Range: Reverse Circulation drilling in an area approximately 600 metres northwest of the nearest historical pit and 120 metres north of PK057 (2.30 grams/tonne gold over 19.8 metres; see the Company's news release dated August 27, 2012) returned:
-- 6.03 grams/tonne gold over 13.7 metres in PK061, including 15.2
grams/tonne over 4.6 metres and 6.25 grams/tonne over 1.5 metres;
-- 3.91 grams/tonne gold over 3.0 metres in PK063;
-- 1.52 grams/tonne gold over 6.1 metres in PK058.
Kinsley Mountain is a sediment-hosted gold system and hosts a past-producing open-pit mine. Stratigraphic and structural controls are similar to those at nearby Long Canyon and Bald Mountain. Pilot Gold is operating exploration at the project with the same technical and management team that advanced the Long Canyon project as Fronteer Gold, acquired by Newmont Mining Corporation in March 2011. Nevada Sunrise is Pilot Gold's 49% joint venture partner on Kinsley Mountain. Pilot Gold is currently earning up to 65% of the project from its present 51% ownership.
All true widths are 30 per cent to 100 per cent of reported widths unless otherwise stated. All intervals of no sampling have been assigned zero grade for the purposes of compositing. A comprehensive table of drill results to date, including new and non-reportable intercepts, and a map of the Kinsley Mountain can be viewed on Nevada Sunrise's website at: http://www.nevadasunrise.com under: "Exploration - Kinsley Mountain".
About Nevada Sunrise
Nevada Sunrise (TSX VENTURE: NEV) is a publicly-traded gold exploration company that holds a portfolio of three projects in Nevada, namely Kinsley Mountain, Golden Arrow, and Pinnacle, totaling approximately 15,735 acres (6,368 hectares) of prospective land. Nevada Sunrise applies the exploration experience and technical skills of its founders to search for and acquire new gold exploration projects that are developed internally and then offered for joint venture. For the latest details on the Nevada Sunrise, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com or contact William Henderson, President and CEO at (530) 887-9901.
The technical information in this news release is based upon information provided by Nevada Sunrise's joint venture partner, Pilot Gold. The technical information has been prepared under the supervision of Moira Smith, P.Geo., a qualified person under National Instrument 43-101, who is Chief Geologist of Pilot Gold, and independent of Nevada Sunrise.
Pilot Gold reports that drill core composites were calculated using a cut-off of 0.30 grams/tonne. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 30-100% of the reported lengths. Drill samples were assayed by ALS Chemex (ISO9001:2000) in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 grams/tonne were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. QA/QC included the insertion and continual monitoring of numerous standards and 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-element geochemical suite by ICP-MS.
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 year ended September 30, 2011 dated 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.
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.
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.
Contacts:
Nevada Sunrise Gold Corporation
William B. Henderson
President and Chief Executive Officer
(530) 887-9901
(530) 884-3822 (FAX)
info@nevadasunrise.com
www.nevadasunrise.com