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Nevada Sunrise Regains 100% Interest in Gemini Lithium Project in Nevada
VANCOUVER, Aug. 27, 2019 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that it has increased it
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":" VANCOUVER, Aug. 27, 2019 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) is pleased to announce that it has increased its interest in the Gemini Lithium Project (\"Gemini\", or the \"Project\") by acquiring the 50% interest in the Project previously owned by KORE Mining Ltd. (\"KORE\") (TSXV: KORE). Nevada Sunrise acquired Gemini in 2015 by claim staking in the Lida Valley, Esmeralda County, Nevada, and later optioned a 50% interest to KORE's predecessor company Eureka Resources Inc. (\"Eureka\") in January 2016 (see Nevada Sunrise news release dated January 21, 2016). On September 21, 2016, the Company entered into a definitive joint venture agreement with Eureka, with both parties each holding a 50% participating interest. Eureka later amalgamated with KORE in a transaction that closed in October 2018. In August 2019, Nevada Sunrise and KORE executed a release agreement whereby KORE agreed to relinquish its 50% interest in Gemini in exchange for cancellation of US$16,390 owed to the Company by KORE for property maintenance fees and exploration expenses incurred on Gemini. About Gemini Gemini is located in the western Lida Valley, Esmeralda County, in south central Nevada, approximately 40 kilometres (26 miles) from the only producing lithium mine in the United States at Silver Peak. The Project consists of 13 claims totaling 260 acres (105 hectares). Drill pads and access roads are in place at Gemini with an active drilling permit, and the claims are in good standing until September 1, 2020. Gemini is situated in a flat, desert basin hosting two interpreted sub-basins with a similar geological setting to the Clayton Valley. Geophysical work at Gemini carried out by Nevada Sunrise has outlined conductive zones interpreted as brine horizons. For further information on Gemini including a map showing its location, see the Company's website under \"Projects-Nevada Lithium\" at: Click Here John R. Kerr, P. Eng., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. About Nevada Sunrise Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds in...