Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada
Highlights of the
- Coronado is located in an underexplored region that hosts a past-producing volcanogenic massive sulphide ("VMS") deposit known as Big Mike, where high-grade copper was mined in the early 1970s (see Figure 1 below: photo of Big Mike mineralization in a grab sample collected by the Company in 2018);
- VMS deposits such as Big Mike are often found in "chains" or "clusters" along zones of structural weakness, where such deposits may be buried under overburden and exhibit no surface exposure – only one VMS deposit has been discovered to date in the Project area;
- Nevada Sunrise plans to explore a new target area in the northern part of Coronado known as the Red Metal prospect, where
Utah International intersected shallow, high-grade copper mineralization in 1976 drill hole C-1, which reportedly returned 1.84% copper over 10.98 metres (36 feet) from 39.9 metres (131 feet) to 50.9 metres (167 feet)1; - The Company is commissioning a new desktop study of its Coronado 2018 Versatile Time Domain Electromagnetic ("VTEMTM") data using a computer modeling process to determine the Airborne Inductive Induced Polarization ("AIIP") effect, which can measure chargeability of potential sulphide minerals and add to the interpretation of conventional airborne electromagnetic ("EM") data. Other geophysical anomalies were observed in the 2018 airborne survey data, which Nevada Sunrise plans to investigate on the ground.
1. Source: DeMatties, Theodore A. (2024) Reassessment of the Big Mike Copper-Cobalt Volcanogenic Massive Sulfide Deposit (VMS): Implications for Further Exploration in the Late Paleozoic Havallah Ophiolite Sequence, |
2024 Coronado Exploration Plans
Nevada Sunrise plans to carry out an AIIP effect study by
Geotech also offers Structural Complexity ("SC") analysis of historical VTEMTM data using a method introduced by Kovesi (1997). SC is an important exploration parameter for structurally-controlled mineral deposits (Groves et al., 2018). Linear structures such as magnetic ridges from positive magnetic linear anomalies can be mapped and interpreted using the
Nevada Sunrise plans to carry out a prospecting and geological mapping and sampling survey over significant geophysical anomalies identified from the AIIP modelling program. Any identified geophysical anomalies will be gridded and sampled with a soil gas hydrocarbon ("SGH") survey, an economical soil sampling method developed by
The Company holds an active drill permit for Coronado, which is good until
About Coronado
Coronado currently consists of 152 unpatented claims totaling approximately 3,040 acres (1,230 hectares) located over an interpreted trend adjacent to the historic Big Mike copper mine that lies within the Middle Pennsylvanian to Late Permian-age Havallah volcanic-sedimentary sequence. The Company's land position controls an important seven mile-long (11.3 kilometres) regional trend along which high-priority airborne VTEMTM anomalies have been identified within the Early Pennsylvanian–early Late Permian Pumpernickel Formation of the Havallah sequence.
In 1970,
Nevada Sunrise optioned the Project from local vendors in 2018 and has carried out exploration in several campaigns including a high-resolution airborne VTEMTM survey, a follow-up ground gravity survey, an SGH geochemical survey, and a total of three diamond drill holes in 2018 and 2020.
The Company's 2018 airborne EM survey outlined a strong conductive system located within favourable geology in conjunction with an SGH anomaly, supporting the Company's belief that VMS deposits could be present at the Project (see Nevada Sunrise news release dated
To view maps and photos depicting the Company's exploration activities at Coronado, click here
National Instrument 43-101 Disclosure
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in
The Company's key gold asset is a 18.74% interest in a joint venture with CopAur Minerals Inc. at the
Nevada Sunrise has right to earn a 100% interest in the
Nevada Sunrise owns 100% interests in the Gemini,
Website: www.nevadasunrise.ca
Forward Looking Statements:
All statements in this release, other than statements of historical fact, are "forward-looking information" with respect to
Such factors include, among others, risks related to the actual results of drilling and other exploration at the Coronado property, reliance on technical information provided by third parties on any of our exploration properties, including access to and interpretation of historical information on the Coronado property as well as specific historical data associated with drill results and sampling from adjacent areas to the Coronado property; information from the public domain, current exploration and development activities; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months ended
Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.
Forward-looking statements are made as of the date hereof and accordingly are subject to change after such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Nevada Sunrise does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.
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