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Nevada Sunrise Samples Up To 1.81% Cobalt, 3.05% Nickel and 5.99% Copper at the Lovelock Cobalt Mine in Nevada

Lovelock Mine 3D-IP Geophysical Results

Deep Geophysical Target Identified

Nevada Sunrise Gold Corp. (TSX:NEV)

VANCOUVER, BRITISH COLUMBIA, CANADA, January 18, 2018 /EINPresswire.com/ -- January 18, 2018, Vancouver, British Columbia - Nevada Sunrise Gold Corporation (“Nevada Sunrise” or the “Company”) (TSXV: NEV) is pleased to announce it has received the results of an initial geochemical rock sampling program and a reconnaissance geophysical survey at the historic Lovelock Cobalt Mine (the “Lovelock Mine”, or the “Property”), located in Churchill and Pershing Counties, approximately 100 miles (150 kilometres) east of Reno, Nevada. Nevada Sunrise has an option to earn a 100% interest in the Lovelock Mine (see Nevada Sunrise news release dated December 29, 2017).

Geochemical Sampling
Nevada Sunrise carried out two site visits to the Lovelock Mine in November and December 2017 and collected representative grab rock samples of historical mine waste, and various bedrock samples at the Lovelock Mine and in the areas of other nearby historical adits. The analytical results of several of the rock samples show strong enrichment in cobalt, nickel and copper, and other metals, as shown in the highlights below:

Sample Location Co (%) Ni(%) Copper (%) Zn (%) Silver(g/t) Gold(g/t)
No.
LCoR-5 Lovelock Mine adit 1.81 3.05 0.65 0.03 32 0.01
LCoR-7 Lovelock Mine waste 0.41 0.22 4.91 0.10 48 trace
LCoR-4 Lovelock Mine waste 0.21 1.64 5.99 0.04 68 0.52
LBP-06 Lovelock Mine waste 0.12 0.32 1.46 0.22 379 0.98
LBP-05 Lovelock Mine waste 0.10 0.35 trace 0.03 trace trace
LCoR-6 Lovelock Mine waste 0.09 0.14 1.76 0.04 15 trace
LL-004 Lovelock Mine waste 0.08 0.09 1.26 0.03 16 trace

Geophysical Survey

In December 2017, an initial 4.2 kilometre (2.6 miles) reconnaissance DC resistivity/induced polarization (“DC-IP”) survey by SJ Geophysics of Delta, BC, consisting of stations spaced 25 to 50 metres (80-160 feet) apart on five lines was completed across the Lovelock Mine area. This DC-IP survey is projected to have a depth of investigation deeper than the mining to the 100-foot level reported in the 1880s. To view a 3-D figure of the survey results with proposed drill holes click here:

http://www.nevadasunrise.ca/wp-content/uploads/2018/01/Lovelock-Mine_3D-IP-results-Jan-2018.png

The results of the survey not only detected the historic, near-surface mine workings and interpreted alteration (red areas on figure), but also show chargeability features (green areas on figure) related to structure and possible mineralization to a depth from surface of approximately 200 metres (656 feet).

Nevada Sunrise intends to apply to the U.S. Bureau of Land Management for an exploration permit within the next 30 days, and plans a first-pass drilling program in the spring of 2018 on the targets defined to date.

About the Lovelock Mine

The Property currently consists of 70 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range totaling approximately 1,400 acres (567 hectares).

The Lovelock Mine was reportedly discovered by George Lovelock and Charles Bell about 1880. According to U.S. Government annual reports, limited production of nickel, copper and cobalt began in 1883. The primary cobalt mineral was identified as “cobaltite”, a compound of cobalt, sulphur and arsenic with some nickel replacement of cobalt normal. Records of a geochemical analysis from that era indicate that the average composition of the cobaltite contained 17.30% cobalt and 13.62% nickel. The mine operated from 1883 to 1890 to the 100-foot level, reporting 500 tons of concentrated cobalt and nickel mineralized material shipped to Britain for processing. After intermittent production, a British company attempted smelting on site in 1898 but the smelter suffered equipment failures and production ceased. (Source: “Mineral Resources of the United States for 1885”, 1886). No further production from the Lovelock Mine is known for well over a century.

For further information about the Lovelock Mine, including scanned copies of certain historical reports produced by the Nevada Bureau of Mines and precursors of the United States Geological Survey, please visit the Company’s website at: http://www.nevadasunrise.ca/projects/lovelock-cobalt-mine/

Geology and Mineralization of the Lovelock Mine
The rocks of the Lovelock Mine area include highly-altered sedimentary and volcanic rocks cut by a larger mass of diorite and by aplitic dikes, all of which are highly altered. The altered volcanic rocks lie in a syncline bordered on the west, north and east by the altered sedimentary rocks. Probable faults, inferred from the nature of the contacts, form the boundaries between the sedimentary and volcanic rocks northwest of the Lovelock Mine.

The cobalt and nickel minerals identified at the Lovelock Mine and the nearby Nickel Mine occur in stringers that cut the rock immediately surrounding the diorite. In the case of the Lovelock Mine, the stringers cut a highly-altered greenstone. The minerals recognized are tetrahedrite, erythrite (cobalt bloom), azurite, and green crusts that contain copper and nickel arsenates and sulphates. Other sources reported the principal mineral present is cobaltite. It was postulated by historical observers that there has been post-mineral faulting with downthrow on the west, and that the extension of the productive zone is west of the Lovelock Mine shaft and at greater depth than the historical workings could reach (Source: “Nickel Deposits in Cottonwood Canyon, Churchill County, Nevada”, H.G. Ferguson, 1939).

Geochemical analyses were performed by Bureau Veritas of Vancouver, BC, Canada, with a 53-element analytical package by ICP-MS after modified aqua regia digestion, following sample crushing and preparation in the Bureau Veritas, Reno, Nevada facility. Overlimit samples were reanalyzed by ICP-ES by HNO3-HCl acid digestion.

Robert M. Allender, Jr., CPG, RG, SME 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 herein. Readers are cautioned that some of the technical information described in this news release is historical in nature; however, the information is deemed credible and was produced by professional geologists of the eras discussed.

Warren Stanyer
Nevada Sunrise Gold Corp.
604-218-5931
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