Categories: Energy
Topics: Lithium Stocks

Early-Stage Lithium Opportunity

Hybrid prospect generator Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) — currently trading around C$0.20 per share — has resumed Phase-2 drilling at its flagship, 100%-owned Gemini Lithium Project, Nevada.

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. 

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. 

Borehole GEM23-04 (see map below) is targeting a strong conductive anomaly approximately 0.73 miles (1.17 km) northwest of hole GEM22-02 and is planned to test the deepest part of the Gemini basin to an estimated depth of 2,000 feet (609 meters).

In addition to the current drilling, assays are pending from the remainder of sediment samples from hole GEM22-03 along with 39 groundwater samples. 

To date, high-grade lithium-bearing sediments have been intersected over a strike length of 1.14 miles (1.83 km) with the current geophysical model suggesting the presence of numerous highly-prospective drill targets at Gemini. 
 
NEV’s co-flagship is the Kinsley Mountain Gold Project, also in Nevada, which has a resource and is being advanced via a joint venture with CopAur Minerals (TSX-V: CPAU)(OTC: COPAF). 

NEV currently has 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.  

2020 drilling produced highlight intercepts of:

• 15.1 grams per tonne (g/t) gold over 7.6 meters at the Western Flank Zone (WFZ)
• 9.83 g/t gold over 7.6 meters at Main Pit North
• 1.77 g/t gold over 25.3 meters at Secret Spot 

The CopAur team recently completed a geophysical survey at Kinsley, which generated eight new high-quality drill targets in the underexplored Kinsley North area. 

Potential exists to add ounces via resource expansion drilling in and around the known resource areas along with the potential for new discoveries in underexplored areas including Kinsley North and, as well, the Western Flank zone. 

CopAur plans to have the drills turning at Kinsley later this quarter as it seeks to build on the strong gold values outlined above. 

NEV also 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 historic and 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, without a doubt, 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. 

To get all the skinny, our own Gerardo Del Real of Junior Resource Monthly caught up with Nevada Sunrise Metals CEO Warren Stanyer to go over the current drilling progress at Gemini plus updates from Kinsley Mountain and Coronado. Enjoy!

Mike Fagan
Editor, Resource Stock Digest