Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) CEO Warren Stanyer on Hitting Significant Lithium Grades in Sediments and Water Via the Drill at the Flagship 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, it is great to have you back on. Another set of phenomenal results. How are you today, sir?
Warren Stanyer: Well, I'm pretty good and thanks for having me on.
Gerardo Del Real: Well, let's get into it with my biased shareholder take here. You just announced 1,321 ppm lithium in sediments over 990 feet and 116.43 milligrams per liter lithium in groundwater over 140 feet at the Gemini Lithium Project. This, of course, is from hole No. 4.
I would love for you to provide the context. It's a large step out again. You clearly are hell-bent on proving out scale efficiently. And clearly the drill bit, Mother Nature, has been kind to you. Although, Mother Nature has kind of thrown some surprises in the sense that a lot of this stuff has never been seen in this valley.
Warren Stanyer: No, it hasn't. There was drilling to the East. We drilled at Jackson Wash in 2017. We drilled to 2,700 feet. We did not sample the sediments but we didn't see this same green clay; we were looking for brine only at the time. There were other parties that drilled even further to the east in the Lida Valley. I don't believe they were successful in finding any brine.
But this green clay and these variations; we knew of it in 2016, 2017. It's here. It's here in quantity. And it has water with lithium in it as well. It's not a classic saline brine. We know that it's a carbonate style brine. But we do have total dissolved solids of over a hundred thousand in these samples. So the lab calls it a brine… and we can call it a brine.
Gerardo Del Real: What comes next? I know that there are samples pending for the final 450 feet. So again, this is already a very, very impressive hole. We're still missing darn near 140 meters of the bottom of it, right?
Warren Stanyer: We are. And that's where we've had the highest numbers in the sediments. I mean 4,030 feet of 4,329 ppm lithium. So when we get this last 500 feet back, or 450 feet, it's going to be very interesting to see if those grades continue and what they add to the whole equation here.
Gerardo Del Real: How have the labs been for you, Warren? And I guess in a roundabout way, what I'm asking you is, when do you anticipate — and I hate to put you on the spot but I'm going to do it anyway — when do you anticipate and hope for the next set of results for that bottom 137 meters of that hole?
Warren Stanyer: Well, I know that there was a group of samples… I was onsite on February 3rd, and a bunch of samples were driven up to Reno that day. That was only to 1,900 feet. But then, we didn't get much more because ground conditions just precluded going any further. It was just too hard to advance. So we only got about another 50 feet.
So there are not that many more samples that are outstanding that haven't been delivered — and they probably all have been. So knowing that, it usually takes about five weeks; we might get off with a little less depending on how busy they are. So sometime in, I think, by mid-March, by the 10th to the 15th — that's when we'll see these final results. Same with the water.
Gerardo Del Real: Excellent. And I understand that, like myself, you will be at PDAC next week… so probably want to encourage everybody to stop by the booth and talk lithium, gold, and copper, which, again… I have to remind everybody… you have 20% ownership of the Kinsley Mountain asset, which I absolutely love, and which we'll see some exploration drilling this year on some very, very good looking targets.
Great job by CopAur and that team there on the geophysics and generating those new targets. They're the operator and 80% owner. And then, there's a copper project in Coronado that I like, a VMS project, that is a past producing mine. But they only found one of the deposits, and we know that VMS deposits tend to happen in clusters.
So I mean, copper, lithium, and gold exposure — it's as good as it gets for a company with such a tiny market cap.
Warren Stanyer: Yeah, and regarding Coronado, there's a paper about to be published by Ted Damatis who's a geologist that's worked with us there. I believe it'll be in the Journal of Economic Geology. It's just been submitted. And he talks about that very thing; the Big Mike deposit, which is not on our claim group but we come right up to it.
It's been held for a number of years by a family. It's not that many claims because it's not that big but it was super high-grade. So the chances are, and the probabilities are there's other VMS deposits in that region — and we're on that trend.
So we do want to get out there and do some work. It's just, right now, we're completely caught up in the Gemini project, and we'll try and get a drill going on Coronado this year as well.
Gerardo Del Real: Exciting times… drilling at Coronado, drilling at Kinsley Mountain. Obviously, more drilling here in Nevada on the lithium side. Happy shareholder. I know that the share price has been back and forth and consolidating. I know you've had a ton of calls of people wanting to give you money and wanting to take a stake in the company behind the scenes.
I'm sure you'll keep that close to the vest as you should but I expect, hopefully, that you and I will be chatting here in the next couple of weeks in regards to the last set of sample results from the bottom part of hole No. 4. And I should add, hole No. 5 is in progress, correct?
Warren Stanyer: It is. And just looking at the map we put out, now we've established this triangle. And what we're trying to do here is expand it into a polygon or a rectangle with a couple of more holes. So No. 5 is one of those.
I think we go to the west again. We might move some locations around, which is a process in the BLM that we can do but we do have a permitted location now. Let's see… it's northwest of hole 5, it's south of hole 4. That would kind of make a nice little bottom to our rectangle. So there's a lot more to do.
And when you look at the distances, you can see some of these lines… they're half a mile, three quarters of a mile, a mile apart. And that's a substantial amount of ground and a substantial volume that we hope to someday get into a resource.
Gerardo Del Real: I'm also looking forward to results from the lab with the gentleman that you recently had come on and has a patent on extraction. I think that's really overlooked, especially given the nature of the lithium and where it is and how it sits. Do you want to speak to that before I let you go, Warren?
Warren Stanyer: Sure. Willem Duyvesteyn is just a very accomplished metallurgist and highly schooled. He's almost like a professor in his craft… let's call it that. And he has some ideas for us, and we'll be talking about those soon. In the meantime, we're looking at these initial extraction tests, which are ongoing right now. As a matter of fact, my next call this morning is to him just for an update.
Gerardo Del Real: Well, I'm a fan of his work. Say hello for us. Looking forward to, maybe, when we get those results, having him on and having him explain the process and the upside and the benefit to Nevada Sunrise and Nevada Sunrise shareholders.
In the meantime, we'll see you at PDAC next week. And thank you for your time as always, sir.
Warren Stanyer: And just let me clarify, Nevada Sunrise does not have a booth. I will be at PDAC with another company, ALX Resources Corp. Nevada Sunrise is so far down on the list, I don't know where we'd start at PDAC… probably on the back row. We'll try and work our way up in future years here. But I will be there.
Gerardo Del Real: Alright, we'll see you there, Warren. Thank you so much. Appreciate it.
Warren Stanyer: Thanks, Gerardo.Click here to see more from Nevada Sunrise Metals