Categories: Energy
Topics: General Energy

Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) CEO Warren Stanyer on Hitting Impressive Lithium Intercepts in Clays at Flagship 100%-Owned Gemini Lithium Project, Nevada

 

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?

Warren Stanyer: I'm good and thanks for the opportunity, Gerardo. And thanks for saying ‘Metals,’ because even I say ‘Gold’ once in a while in print or something after over a decade of being a company with a slightly different name. But metals is what we are.

Gerardo Del Real: Absolutely. And let's get right into it by talking about an element, interestingly enough, which is lithium. I reached out because you had some news this morning that me — as a biased shareholder and a very long-term and supportive biased shareholder by the way — was absolutely thrilled with. 

You've increased the scale of what is turning out to be a significant lithium discovery in Nevada. And I know that there was a report yesterday regarding Lithium Americas and an upcoming court decision. And of course, look, Lithium Americas having a clay project — one of the bigger ones in the state — awaiting a permit, eagerly hoping that goes the right way. But there was a comment made by a judge that the market, I think, perceived as negative. And I think, as a result, anything with the word Nevada and clay and lithium kind of sold off a bit.

So it's not completely surprising to me that Nevada Sunrise Metals didn't rally on the news. I'm a bit surprised at the pullback on it. But again, as a shareholder that's long-term supportive and is looking to make a significant discovery here, I’m not really worried about intraday moves or a one-week move in the share price. 

With all of that being said, I do want to get into the many positives from the initial lithium analysis from borehole three. And I want you to provide the context, and then we can kind of get into some of the details.

Warren Stanyer: So what we did with these samples, we were into the green clay — a little shallower than the previous two holes — which we kind of expected because what we saw in the geophysics was, as we went to the north, it was a slight rise in these horizons. In other words, they seemed to be getting shallower. 

So you're going by the geophysics, which is generally a very good guide to the stratigraphy. And so in this case, we hit it sooner. In hole two, we didn't hit the green clay until 390 feet, and that's the southernmost hole, which is 1.14 miles away, so one-and-a-seventh. So that's a pretty considerable strike length to find the same clays.

We did spot samples and sent the consecutive samples to a different lab because the ALS won't do a rush. They just don't even reply if you ask them. But this other lab in Reno will, and the results have matched beautifully. And so we use American Assay as a place to send a few samples on quick turnaround. And then there’s also a check against what comes out of the consecutive, call it, the bulk of the samples. Not a bulk sample but the bulk of the samples come from ALS. So we were pleased to see what we saw.

We still have a drill actively working. We're at, I don't know, somewhere around 1,400 feet today, which is deeper than we drilled before, and we're still not at the bottom of the system. We don't know where the bottom is yet. I mean, it's 3,000 feet. We're probably not going to go that deep but this is a big deep basin full of sediments, and we're the first people to ever drill in it. 

So this is part of the process that these samples, today, confirm that the green clay that's basically half a mile north of our hole one… so this is our northernmost hole and this green clay goes that far. Plus there's water zones that we've encountered, and we've sent 23 samples in, and we don't know what's in those yet. And that water lab is so backed up trying to get… I don't know who their other customers are… but they've taken a long time and they're not finished yet with our water samples.

Gerardo Del Real: I want to talk about the weighted average — the lithium weighted average. The ppm's were, again, very, very encouraging to me, especially considering the fact that you are encountering these types of grades at much shallower depths at the distances that you described. Can you speak to that?

Warren Stanyer: Well, again, we didn't have consecutive samples in order to put out a consecutive intersection. But when we see up to 1,400, we've got ppm lithium, and we've got big gaps in the sampling column there. I can't wait to see how it fills in because we could have higher numbers in there as well. We don't know. That's the big thing. It's just waiting for all this stuff to happen, and I guess it's just not happening fast enough for some of the people that are following us.

Gerardo Del Real: Well, listen, I've been writing checks into Nevada Sunrise Gold and now Nevada Sunrise Metals for well over a decade. I have absolutely zero trouble sitting out an extra couple of weeks to get a more complete picture. I love the snapshots that we're getting thus far. Anything to add to that, Warren?

Warren Stanyer: Well, we have a long way to go in this project. We published the first look at the geophysical model that the geophysicist worked on for quite a long time in the late summer and into the fall. Because we had three different surveys — two from 2016 and one from 2022, all slightly different — what they did is they carved them to make them the same, as similar as they could be. And so now what we see is we have a better look of where these conductive horizons are, and they're matching up to each other from the different surveys.

There's so many targets on the property. We could be drilling for years. I don't know how long it's going to take. But I do want to get, hopefully, this hole finished, another hole finished before Christmas because our last shift will end on or about the 22nd. Everybody goes home until the first week of January, and then it's back to work again. But we need to get more holes, as many as we can. Hopefully some of them will go faster. This one's gone fairly slowly because of the sticky clay and how it just slows things down and you have to be careful.

Gerardo Del Real: I would much rather you continue to hit on water and then we'll know if there's lithium in that water when the labs get back, right? But water in Nevada is important either way, so that to me is a win. And I would rather it go slowly and you continue to find water and continue to find this clay that's running excellent values than it go quickly and we're not able to properly test the target. 

Warren, I want to thank you for coming on on short notice, and I am looking forward to having you back once the labs are able to deliver a more complete picture of what's developing here. Thanks again.

Warren Stanyer: I look forward to that, Gerardo, and thank you.

Gerardo Del Real: Appreciate it.

Warren Stanyer: Take care.

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