Categories: Precious Metals
Topics: General Precious Metals

Selecting the Best Lithium Stocks

Hybrid prospect generator Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) — currently trading around C$0.18 per share — has received final geochemical analyses for lithium mineralization in sediment and groundwater samples collected from borehole GEM23-04 at the flagship, 100%-owned Gemini Lithium Project located in Nevada’s underexplored Lida Valley.

The hole was completed to a depth of 594 meters — representing the deepest hole drilled to date at Gemini — and includes the following highlights:

• Intersected 1,412 ppm lithium-in-sediment over 439 meters; 
  • including 3,556 ppm lithium over 33 meters; 
  • and 4,329 ppm lithium over 9 meters
• Water sample analyses showed additional concentrations of lithium in groundwater flows; 
  • notably a 6 meter interval grading 490 mg/L lithium

GEM23-04 was drilled ~1.17 km southwest of GEM22-01 and 1.04 km northwest of GEM22-02, thereby successfully extending the lithium mineralized zone at Gemini to the west (see below).

The ongoing Phase-2 drill program at Gemini — which 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 — is continuing with borehole GEM23-05 presently at a depth of about 460 meters. 

To date, Nevada Sunrise has intersected significant intervals of lithium mineralization both in sediments and groundwater in all four holes completed since the inception of drilling. The NEV 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.

Next steps include tightening up the drill spacing in the current focus area, which should open things up for additional drilling outside of the known zones of mineralization in later drill rounds. We’ll keep you posted as more results are released from the current drilling phase. 

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. 

Our own Gerardo Del Real of Junior Resource Monthly caught up with Nevada Sunrise Metals CEO Warren Stanyer to go over the latest assays and the plans and process for mapping out an eventual 43-101 lithium resource at Gemini. Enjoy!

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

Mike Fagan
Editor, Resource Stock Digest