The Technical Report relates to an independent maiden resource estimate at the
The resource estimate addresses the work performed by the Company at Gemini since ground exploration by Nevada Sunrise began in 2016, and particularly describes the results of the first five (5) drill holes completed in 2022-2023. The majority of the Gemini property remains untested by drilling and remains open in all directions and at depth. The Inferred resource estimate comprises, in an open pit-constrained resource:
- Approximately 1.3 million tonnes Lithium, or 7.1 million tonnes lithium carbonate equivalent ("LCE") contained within 1,200 million tonnes of lithium-mineralized clay at an average grade of approximately 1,130 parts per million ("ppm") Lithium;
- Lithium cut-off values of 400 ppm Lithium and density of 1.7 grams per cubic centimetre ("gm/cm3") were used;
- Model constraints: Faults 3 and 4 (see Figure 1); a conceptualized 24 degree pit-slope, modelled from property boundaries, using a benchmark 24 degree pit-slope from several other
Nevada lithium clay deposits.
In
The Gemini Inferred resource estimate was based on geochemical analyses for lithium from samples of material collected from the rotary splitter in the reverse circulation drilling rigs contracted by the Company, which produced a continuous, representative 3 to 5 kilogram sample for each sample interval (see Nevada Sunrise news releases dated
Drilling to date has tested only a small portion of the Project area within 844 acres, (342 hectares), which represents approximately 12% of the area covered by Gemini's current area of 7,293 acres (2,951 hectares) of
The technical information contained in this news release has been reviewed and approved by
For further information on Gemini, including maps and photos click here
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in
Nevada Sunrise owns 100% interests in the Gemini,
The Company's key gold asset is at the
Nevada Sunrise has the right to earn a 100% interest in the
This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.
Such factors include, among others, risks related to: the results and outcomes of the Company's 2022-2023 exploration activities and future plans at the
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.
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SOURCE
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