Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) CEO Warren Stanyer on Drilling the Best Hole To-Date at the Flagship, 100%-owned Gemini Lithium Project located in Nevada’s underexplored Lida Valley
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president & CEO of Nevada Sunrise Metals — Mr. Warren Stanyer. Warren, great to have you on. How are you today?
Warren Stanyer: I'm great, and thank you, Gerardo, for having me on.
Gerardo Del Real: Let's get right into it. I always start by saying I'm a biased shareholder. Usually, if I'm speaking with someone publicly and on the record, I'm biased; you should always assume that. That is most definitely the case with Nevada Sunrise Metals.
With that being said, you just reported the best-ever lithium hole out of the 100%-owned Gemini lithium project in Nevada. The market response was timid. I get that the markets are volatile right now. But as I told you off-air, I would much rather a timid response and great results than a great response and so so results where I think the mineralization is coming to an end.
The opposite rang true here. It seems like there's lithium-bearing clay everywhere, and the grades are getting better and so are the widths. Can you speak to the latest news release?
Warren Stanyer: Well, it's no surprise that there's lithium in what we drilled in the fourth hole. But to have such a long intercept, well, first of all, it was the deepest hole we've drilled, and we still didn't get to the basement. We didn't get to the bottom of the cereal bowl. Sometimes ground conditions don't allow it.
We are experimenting with different drilling techniques. I heard yesterday they had a really good day in hole No. 5 because of something that was tried that worked. This is new territory for us. No one's ever drilled this deep in this area.
We don't know what we're going to find every time but what we do know is that there will be lithium-bearing clay pretty much as soon as you see it. The cutoff is probably about 500 ppm lithium, and it runs as high as 4,000 and higher.
So how much is there? It's going to take years to find out. But what we do need to do, and we know this, is to tighten up our drill pattern. There's a map on our website, and you can see the holes are a mile apart; some of them. We have to put a new array of holes within that triangle that's been sketched out on our website.
And it wasn't for the purpose of, ‘Oh, look, this is where our resource is going to be.’ It's just that you are tied to what you've got and what you've done. So by tightening up the drill pattern to less than a kilometer is what we need to do. And then, we can start going further out.
And so in the meantime, we have to go inward to calculate how big this thing is, at least what we know. And then, as we add holes, it's a very large deposit of lithium-bearing sediments, and it's going to take some time to figure it out.
Gerardo Del Real: I have to believe that given the scramble for stable supplies of lithium, specifically in North America, that you're getting phone calls. I know you're likely not going to be able to give me names.
But I’ve got to believe that whether it's automakers or chemical companies or other development/producing companies in North America, I’ve got to believe they've been calling to inquire, given the grades, given the widths, given the scale of what it looks like Gemini is going to be.
Warren Stanyer: Well, and this is what is… I wouldn't call it frustrating… it's almost like we're being hatched. We're breaking out of our egg slowly here. And we do have interest from major companies, from multi-billion-dollar companies, but I can't talk about it.
You can't talk about what people think that the size of the deposit is because it's not compliant yet. You can't put those numbers, those calculations, out. So it is kind of a flat spot for us in terms of what we can talk about. So all we can talk about is our work and our drilling. And meanwhile, these other things are percolating in the background.
Gerardo Del Real: Activity is good. I'll speculate that they're not calling because they think the deposit is small. I'll speculate they're not calling because they think that there's not an opportunity here.
We know Nevada; we know what a great state it is to work in. There was recent news out of Nevada advancing a very advanced-stage clay deposit so the politics are clearly favorable. There's a lot to like.
Oh, and by the way, there's a gold asset that Nevada Sunrise Metals owns 20% of that's going to see some drilling this year. And Nevada Sunrise Metals also has 100% control over a copper asset that I absolutely would love to see drilled later on this year.
So gold exposure, copper exposure, and some great lithium exposure. There are other lithium projects in the portfolio. A whole heck of a lot to like for a company that has a current market cap of sub-C$20 million.
The market will catch it when the market catches what it's going to get. In the meantime, keep up the great work. I'm looking forward to hole No. 5 and looking forward to having you back on, Warren. Thank you so much.
Warren Stanyer: Thank you, Gerardo.
Gerardo Del Real: Alright, we'll chat soon.Click here to see more from Nevada Sunrise Metals