VANCOUVER, British Columbia, July 12, 2022 (Globe NEWSWIRE) — Nevada Dawn Gold Corp. (TSXV:NEV) (OTCPink:NVSGF) has acquired preliminary outcomes of a floor geophysical study at its 100%-owned Gemini Lithium Challenge situated in the Lida Valley basin in Esmeralda County, Nevada. Nevada Dawn also owns a 100% interest in the nearby Jackson Wash lithium task, together with a water proper Allow 86863, located in the Lida Valley basin, close to Lida, Nevada.
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The Lida Valley is a flat, arid basin with a comparable geological placing to the much better-regarded Clayton Valley basin wherever Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated continuously considering the fact that 1966.
The 2022 time-area electromagnetic (“TDEM”) survey, carried out in May perhaps, successfully expanded the scope of geophysical surveys carried out by the Enterprise in 2016 and demonstrates the continuity of conductive zones in which lithium-bearing clays and drinking water have been encountered throughout the company’s 2022 drilling software. The 2022 TDEM study was built to outline the probable lateral extent of the conductive, lithium-bearing clay layers that were a short while ago intersected in drillholes GEM22-01 and GEM22-02. A whole of 13. line kilometres had been carried out on a few new study lines as demonstrated right here.
In its maiden drilling software, Nevada Sunrise drilled two reverse circulation boreholes for a full of 2,020 feet at Gemini in March and April 2022. Borehole GEM22-01 described a weighted-regular of 1,203.41 elements for each million lithium around 580 toes beginning at 320 toes, including 1,578.19 ppm lithium above 300 toes. Borehole GEM22-02 reported a weighted-typical of 1,101.73 ppm lithium around 730 toes from 390 ft, like 2,217.69 ppm lithium above 130 toes and 3,304.34 ppm lithium around 50 ft.
Drinking water samples from borehole GEM-22-01 averaged 327.7 milligrams for every litre lithium around 220 feet from 600, with a peak price of 519 milligrams for every litre lithium. Water samples from borehole GEM22-02 returned an ordinary of 116.28 milligrams for every litre lithium above 460 feet from 660 ft, with a peak value of 286. milligrams per litre lithium. These first final results characterize a new discovery of lithium-bearing sediments and lithium-in-water in the western Lida Valley, which has not been historically drill examined for lithium mineralization.
With the two holes located .69 miles aside, administration believes the extent of lithium-bearing clay layers and waters at Gemini may be widespread. An amendment to the present drill permit for new drill gap places is anticipated to be filed this thirty day period and drill tenders are becoming ready to select a contractor for a Stage 2 exploration method in the summer time/tumble of 2022.
The company’s critical gold asset is a 20.01% interest at the Kinsley Mountain Gold Venture in close proximity to Wendover, Nevada. Kinsley Mountain, a joint venture with Copaur Minerals Inc., is a Carlin-design gold challenge internet hosting a NI 43-101 compliant gold useful resource consisting of 418,000 indicated ounces of gold grading 2.63 grams for every tonne gold and 117,000 inferred ounces of gold averaging 1.51 grams for every tonne gold, at minimize-off grades ranging from .2 to 2. grams for every tonne gold.
Nevada Dawn has suitable to make a 100% desire in the Coronado VMS Undertaking, situated roughly 30 miles southeast of Winnemucca, Nevada. The enterprise also owns a 15% desire in the historic Lovelock Cobalt Mine and the Treasure Box copper houses, each individual situated roughly 100 miles east of Reno, with World-wide Electricity Metals Corp. keeping an 85% collaborating curiosity.
The company recently shut a totally-subscribed non-brokered personal placement, boosting gross proceeds of $1.5 million from the placement 7.5 million units priced at $.20 for each unit.
The shares are trading at $.18. For extra information, please check out the company’s web page, www.NevadaSunrise.ca, contact 604-428-8028 or electronic mail [email protected]rise.ca.
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