Nevada Sunrise Gold is pleased to announce that the Kinsley Mountain joint venture has approved a 2015 exploration program and budget for the Kinsley Mountain Project located in Elko County, Nevada.
Pilot Gold, operator of exploration at Kinsley Mountain, holds a 79.1% interest in the joint venture, and Nevada Sunrise, through a wholly-owned U.S. subsidiary, holds a 20.9% interest.
The 2015 Kinsley Mountain exploration program (the "Program") is currently budgeted at US$2.0 million, and Nevada Sunrise has elected to fund its US$418,800 share of the Program. The Company believes that positive results from early drilling may generate budget amendments to the Program later in 2015.
Details of the Planned 2015 Program
Drilling is expected to commence in the Second Quarter of 2015, consisting of approximately 10,000 metres of reverse-circulation drilling and 1,000 metres of diamond drilling. Targets include follow-up to the high-grade mineralization intersected in the Western Flank and Right Spot areas, and drilling on the Secret Spot, Racetrack and Kinsley Pit Trend targets, and within the newly-permitted Kinsley North area.
An induced polarization ("I.P.") orientation survey is planned over the known mineralized zones at the Western Flank zone. The deeper mineralization at the Western Flank zone is associated with pyrite, ranging up to 10% content, and Nevada Sunrise believes that this pyrite could be interpreted from the orientation survey. Should a geophysical signature for the mineralized zones be identified from the Western Flank survey, Nevada Sunrise anticipates that I.P. surveys will be carried out on other areas of the Property seeking similar geophysical responses as a vector to new drill targets.
Pilot Gold has reported that gold mineralization at Kinsley Mountain is widespread in two stratigraphic units, the Secret Canyon and Candland shales, with both emerging as viable property-wide targets, and that the 2014 results not only demonstrate continuity of the high-grade mineralization at the Western Flank target, but also its broader potential as gold was detected in widely-spaced drill holes. The 2014 drilling program consisted of 27,191 metres in 81 holes, with assays still pending for 5 holes.