-- Posted Thursday, 9 September 2010 | Digg This Article
| | Source: GoldSeek.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2010) -
Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the "Company") (TSX VENTURE:NEV - NVSGF.PK) is pleased to announce that it has been advised by Animas Resources Ltd., which is earning an interest in the Golden Arrow and Kinsley Mountain Properties, that drilling is scheduled to begin mid-September, 2010, on the Golden Arrow Property, Nye County, Nevada. The drill program consists of 16 reverse-circulation (RC) drill holes for a total of 14,000 feet plus 4 diamond core drill holes for a total of 4,000 feet. These holes will test numerous untested exploration targets.
Nine drill holes (6 RC and 3 Core) will test the area southeast of Confidence Mountain for Round Mountain style disseminated gold mineralization. Based on geology and geochemistry, the Round Mountain style mineralization model hypothesizes the presence of disseminated gold mineralization to the east of the Page fault at the intersection of the caldera-margin structure with the NW-SE striking Confidence Mountain structure. The potentially mineralized host rocks in this area consist of poorly-welded ash flow tuffs overlain by more densely welded tuffs. The model is similar to the structural and mineralogical model for the Round Mountain gold deposit.
The Gold Coin and Hidden Hill deposits defined at Golden Arrow by previous drilling programs are situated on the margins of gravity anomalies. Ten of the holes (9 RC and 1 Core) will test the margins of six untested gravity anomalies. Vertical RC holes will be employed to test the exploration concept quickly and inexpensively. Depths of the holes will be approximately 900 feet.
A key component of the Golden Arrow data used to target drilling has been modeling gravity data. The 3-D gravity model indicates that the Golden Arrow district is underlain by a large (8 km x 2.5 km) NNE-elongate gravity-high, thought to be an intrusive body. The gravity model defines a number of smaller apophyses extending upward from the larger, deeper body, two of which project to the surface in the vicinity of the Gold Coin and Hidden Hill deposits. The margins of these apophyses is thought to control the localization of gold in these areas. If the model is correct, then all of the modeled gravity apophyses represent promising exploration drill targets.
Bill Henderson, President and CEO of Nevada Sunrise Gold Corporation commented, "A great deal of hard work and good science has preceded this year's drill program at Golden Arrow. It has been an exhilarating experience to work with the outstanding technical team who has greatly expanded our knowledge of this excellent project. I look forward with anticipation to this year's drill program. "
Golden Arrow, Nevada: The Golden Arrow property is located in the central Nevada high desert, approximately 60 kilometers (40 miles) east of Tonopah, Nye County, Nevada, on the eastern flank of the Kawich Range and the eastern rim of the Kawich volcanic caldera. The property consists of both patented and unpatented mining claims covering an area of 2,300 hectares (5,684 acres). Historic mining in the early 1900's followed high-grade gold and silver in quartz vein deposits. More recent exploration work at Golden Arrow has drill-defined the Gold Coin and Hidden Hill gold-silver deposits, that are hot-springs style gold mineralization disseminated in volcanic host rock units. Gold Coin contains 70% of the known resource, and Hidden Hill contains 30% of the known resource. Of the total resource, 42% is oxidized.
A National Instrument 43-101 compliant Mineral Resource at a variable cut-off grade of 0.010 ounces per ton (opt) gold for oxidized material and 0.015 opt gold for non-oxidized material has been identified at Golden Arrow and consists of:
A Technical Report on the Golden Arrow Project dated May 15, 2009 entitled "Technical Report (NI 43-101) - English" can be found on Sedar at www.sedar.com or on the company's website at www.nevadasunrise.com.
About Nevada Sunrise
Nevada Sunrise Gold Corp. is a gold exploration company that has a portfolio of five projects in Nevada. The Company controls about 13,700 acres (5,540 hectares). Two of the projects are in exploration earn-in joint venture agreements for up to $12 million in work commitments. The Company 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. Nevada Sunrise Gold Corp. is listed on the Toronto Venture Stock Exchange under the symbol NEV. For the latest information on the Company, its properties, our management team and philosophy, please visit our website at www.nevadasunrise.com.
The technical disclosure in this news release has been reviewed by Richard Kehmeier, a director of Nevada Sunrise Gold Corporation and a Qualified Person as defined by N.I. 43-101 of the Canadian Securities Administrators.
CAUTIONARY NOTE
This document contains forward-looking statements which may include, but is not limited to, statements with respect to the timing of our exploration and drilling programs; geological models; expectations related to enhancing resource grades; financing plans and availability of future financing for our projects; anticipated results of our exploration and other plans, projections, estimates and expectations. Forward looking statements address future events and conditions which are subject to various risks and uncertainties which are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. For details of the Company, its business and properties, including risks relating to an investment in securities of the Company, see the Company's audited financial statements for the years ended September 30, 2009 and 2008, interim financial statements for the nine month period ended June 30, 2010 and related management discussion and analysis, which are available on SEDAR at www.sedar.com or directly from the Company."
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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
William B. Henderson
Nevada Sunrise Gold Corp.
President and Chief Executive Officer
(530) 887-9901
(530) 884-3822 (FAX)
ir@nevadasunrise.com
www.nevadasunrise.com
-- Posted Thursday, 9 September 2010 | Digg This Article | Source: GoldSeek.com
