Business
Nevada Sunrise provides exploration update for the Lovelock Cobalt Mine
VANCOUVER, Dec. 14, 2017 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce it has completed an init
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"VANCOUVER, Dec. 14, 2017 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) is pleased to announce it has completed an initial geological sampling program and a reconnaissance geophysical survey at the historic Lovelock Cobalt Mine (the \"Lovelock Mine\", or the \"Property\"), located in Churchill County, approximately 100 miles (150 kilometres) east of Reno, Nevada. The Property is subject to the terms of a letter agreement with an underlying vendor signed in November 2017 (for further details see Nevada Sunrise news release dated November 21, 2017). Two site visits by consulting geologists to Nevada Sunrise were completed in November and December 2017, and a total of 28 rock samples have been collected and submitted for analysis. Rocks sampled include historical mine waste, and bedrock occurrences within and around the various adits and shafts that are accessible at the Lovelock Mine site. A 53-element analytical package, including platinum group metals, has been ordered by the Company and geochemical results are expected in early January 2018. In addition, an initial 4.2 kilometre DC induced polarization/resistivity (\"DC-IP\") survey consisting of stations spaced 25 to 50 metres apart on five lines has been completed by SJ Geophysics of Delta, B.C., using their proprietary Volterra acquisition system. The Volterra system allows crews to navigate around challenging terrain features such as lakes, swamps and cliffs or to adjust station locations to optimize ground contact. This DC-IP survey, projected to have a depth of investigation of approximately 250 metres (820 feet), is very likely the first ground geophysical program ever completed at the Property. In-depth processing and modelling of the data is underway and the Company plans to integrate the results with mapped geology to develop targets for a first-pass drilling program in the spring of 2018. There are no known historical drill holes at the Lovelock Mine. \"The Lovelock Mine is literally a time capsule never tested by modern exploration methods,\" said Warren Stanyer, President and CEO of Nevada Sunrise. \"Our preliminary geophysical survey results show chargeability responses that could represent deeper zones of mineralization than the miners of the 1880s ever reached. The exploration goal at the Lovelock Mine is to find a de...