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Nevada Sunrise (TSX-V: NEV)(OTC: NVSFG) CEO Warren Stanyer on Emerging Lithium Discovery in Nevada
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Nevada Sunrise Gold, might be Nevada Sunrise Lithium soon, Mr. Warren Stanyer. Warren, I kid about the name change, but how are you, sir? You are onto what I think is going to prove to be a very exciting lithium discovery in one of the best jurisdictions in the world to find lithium in the great state of Nevada. How are you doing, sir?
Warren Stanyer: Well, couldn't be better. I mean, I'm excited. I don't use that word in the news release, because I don't want to get people saying that I'm a promoter, arm waving promoter, but I'm excited about the geophysical work that we just started, because this is going to tell us what's the extent of this clay layer.
We knew that where our conductivity had ended simply because the survey ended, that it was still open. Where does it go? We believe that the gravity low contains this clay, this lithium bearing clay and other sediments. So these lines that we showed the public today, that are underway, will tell us the size of this thing, and in a lot better fashion.
Gerardo Del Real: There are a lot of people that are a lot more intelligent than I, that understand geophysics, that understand this type of clay, that understand these types of deposits in Nevada, that are very, very excited about the survey that just commenced and equally excited obviously about the fact that the market cap is absolutely tiny, relative to the potential reward and the prize that is to be had if this discovery plays out the way we all hope it will.
What do you say to the current market cap? Speak to the current market cap, and what do you say to people that are looking at this maybe skeptically and saying, "Well, you're going to have to prove that there's more of this and that there's a lot of this for it to matter."
Warren Stanyer: Well, that's right. And we do have to prove that. We have two holes, two places in space that have defined, call it a mini resource, assuming it's connected, which we believe it to be because of the geophysics, that's 0.7 of a mile apart. We need say seven or eight more holes that are distributed throughout the area that we get results back from. Because this is the best part Gerardo. The geophysics we had before, we didn't know exactly what it meant. The geophysicists say, "You've got a conductive layer there. Look, it goes along like that." But what was in it? Well, this is the first test. And we proved that there's lithium bearing sediments in it.
So where we see that layer, as someone I met with today said, "It's almost like looking for potash." You can have quite a bit of space between drill holes because every time you put a hole down, if it all pans out this way, you're hitting that layer and it's the same stuff because it has a signature, a geophysical signature.
Gerardo Del Real: So, in my simple way of viewing this, my non-geologist way of viewing this, what you're saying to me is if this survey bears fruit, what you think it'll bear fruit, it's going to be a simple matter of connecting the dots with the drill bit, right?
Warren Stanyer: Correct. Because where we saw the conductive layer going off into the ozone where we didn't know what was past a certain point, because the survey had simply ended, now we're bounding that. And we'll see where that line of conductivity went. And we'll have more information. And now we're flushing it out.
The way this thing is designed. Let's see, from one of the original lines from 2016, we are about a thousand meters in parallel. And same with another line from 2016, another thousand meters. So a kilometer. And a short line where we think that – we’re guessing a little bit on it. It's only a 1,200 meter line, but it's going to tell us a lot. It's going up into the new claims that we staked to the north. And we think that this thing is going to the north and the conductivity will continue, but that's speculation until we get results.
But what's great about these guys, I love these guys that do this work. They're down in the desert. It's not hot or anything. It's not cold. It's perfect working temperature, but they get the data every night. They're going to send it back to Vancouver and it's going to be processed, and we're going to have a picture here really quickly. We're not waiting months. This isn't like an airborne survey when you're begging the contractor, "Hey, can you send our data sometime soon, so we can look at it?" No, this is pretty immediate, as close as you can get to immediate.
Gerardo Del Real: I've done very well in the past with Nevada Sunrise Gold, on the back of some spectacular results from the Kinsley Mountain gold project that Nevada Sunrise still has a 20% interest in, a project by the way that I am still very excited about that will see substantial drilling in the second half of this year. And the value add there shouldn't be discounted. But I must say it brings a smile to my face, to have the exposure that I have in Nevada Sunrise Gold, given what I think is going to prove out to be a pretty significant lithium discovery. It's going to have to be proven. I can't wait for results from the survey and can't wait to have you back on. I know the last time we spoke, we were excited about that initial assay that came back, and then you trumped that by increasing the grade and the width pretty substantially, right? It ended up being over 580 feet of a 1,203.41 parts per million lithium. And obviously that was quite an increase from the initial assay that was reported.
Exciting times. I'm looking forward to having you back on when we get results from the survey. And then obviously excited to get that drill turning here in the coming months. Anything to add to that, Warren?
Warren Stanyer: Just that we want nothing more than to be back drilling, but we have to be methodical about where to place these holes. The BLM, when you give them a location, they want you to be at or close to that exact spot. It's not like we can just move willy-nilly wherever you want. So, the geophysics will tell us where to drill, and then we'll tell the BLM where we want to drill. And they have 15 days to tell us what they think of our project once we submit it. So it's just a matter of us getting that permit app in the door at the BLM office. And we'll see what happens from there.
Gerardo Del Real: Should be an exciting second half of the year. Thank you, Warren, for coming on. I appreciate your time.
Warren Stanyer: And thank you, Gerardo.