Categories: Energy
Topics: Lithium Stocks

All About Lithium Investing in 2023

Hybrid prospect generator Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) — currently trading around C$0.23 per share — has intersected significant lithium mineralization in sediments and groundwater at its flagship, 100%-owned Gemini Lithium Project located in Nevada’s underexplored Lida Valley.

All About Lithium Investing in 2023.

Hole GEM23-04 returned:

  • 1,321 ppm lithium in sediments over 990 feet; plus
  • 116.43 milligrams per liter lithium in groundwater over 140 feet
  • Remaining samples from final 450 ft are currently in the assaying process

Last year’s drilling at Gemini confirmed a new discovery of lithium-bearing sediments — as well as a potential lithium-bearing brine — in the western Lida Valley, which has not been systematically drill-tested for lithium mineralization. 

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The ongoing Phase-2 program is focused on deeper drilling to test the extent and continuity of wide zones of lithium-bearing clays and water (potential brine) as a follow-up to Phase-1. 

To date, NEV has intersected significant intervals of lithium mineralization both in sediments and groundwater in all four holes completed since the inception of drilling.  The team believes the southern and western parts of the Gemini basin could host higher concentrations of lithium and that further drilling could eventually define a large lithium resource.

Nevada Sunrise also announced the acquisition of the Badlands Lithium Project. The 1,080-acre land package is strategically located between the company’s flagship Gemini Lithium Project and the Wash Lithium Project in the Lida Valley.

Gemini Lithium Project and the Wash Lithium Project in the Lida Valley.

The accretive land package was staked by the Nevada Sunrise team last year — following the company’s 2022 lithium discovery at Gemini — but was not announced at that time due to the highly competitive staking environment that arose in the valley.

Six outcrop samples were randomly selected at Badlands for analysis, which subsequently returned anomalous values of lithium ranging from 70.0 ppm to 165.8 ppm lithium. The company is planning a more comprehensive sampling program at Badlands for later in the year, which could lead to an initial drill phase.

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Additionally, NEV’s co-flagship Kinsley Mountain Gold Project, also in Nevada, is being advanced via a joint venture with CopAur Minerals (TSX-V: CPAU)(OTC: COPAF). 

NEV currently maintains a 20% interest in the Kinsley project with CopAur holding the other 80%. CopAur, as operator, is funding the exploration, which is a hallmark of the prospect generator model. 

Kinsley Mountain boasts current Indicated resources of 418,000 ounces at a grade of 2.63 grams per tonne (g/t) gold and Inferred resources of 117,000 ounces averaging 1.51 g/t gold.   

The CopAur team recently completed a geophysical survey at Kinsley, which generated eight new high-quality drill targets in the underexplored Kinsley North area, which should see some exploration drilling later this year. Potential exists to add ounces in and around the known resource areas along with the potential for new discoveries in untested areas including the Kinsley North and Western Flank zones.  

And finally, NEV has the right to earn a 100% interest in the Coronado VMS Copper Project located approximately 48 kilometers southeast of Winnemucca, Nevada. The property is adjacent to the previously producing Big Mike open pit copper mine. The Nevada Sunrise team believes other VMS deposits may be present along trend from Big Mike as such deposits are known to occur in clusters. 

And while the current focus is squarely on lithium at Gemini, the NEV team is looking toward potentially getting a drill down to Coronado later this spring or early-summer. 

So lots happening for the Vancouver-based hybrid prospect generator… and plenty of news flow ahead in the coming quarters to potentially move the needle. 

Our own Gerardo Del Real of Junior Resource Monthly caught up with Nevada Sunrise Metals CEO Warren Stanyer to go over the newly received assays from Gemini plus a whole lot more. Please enjoy!

Interested speculators seeking additional information may also contact the company’s IR department directly at 604-428-8028 or via email at info@nevadasunrise.ca.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest