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Nevada Sunrise Elects To Participate In Expanded 2014 Program At Kinsley Mountain

Stocks in this article: NEV

VANCOUVER, British Columbia, April 16, 2014 (GLOBE NEWSWIRE) -- Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX-V:NEV) is pleased to announce that it has approved an increase of US$1.57 million to the 2014 exploration budget at Kinsley Mountain for an amended total of $6.04 million. Pilot Gold Inc. ("Pilot Gold") (TSX:PLG), the operator of exploration at Kinsley Mountain, proposed a budget increase to the Kinsley Mountain joint venture after strong gold mineralization was encountered in the 2013 and 2014 drilling programs at the Western Flank target (see Nevada Sunrise's news releases of November 18, 2013, February 27, 2014 and March 12, 2014). Highlights of the Western Flank drilling results released to date include:

  • 8.53 g/t Au over 36.6 metres in PK091CA, including 29.43 g/t Au over 7.6 metres;
  • 6.85 g/t Au over 41.7 metres in PK127C, including 16.6 g/t Au over 8.5 metres;
  • 10.5 g/t Au over 42.7 metres in PK131C, including 18.3 g/t Au over 22.9 metres;
  • 7.53 g/t Au over 53.3 metres in PK132C, including 14.9 g/t Au over 22.9 metres.

These results support the fact that the Kinsley project can host significant high-grade mineralization in the Secret Canyon shale. Results are still pending from the 2014 Phase 1 drilling for an additional 5 holes in the Western Flank that targeted the Secret Canyon shale.

2014 Amended Program and Budget

Pilot Gold holds a 79% interest in the Kinsley Mountain joint venture, and Nevada Sunrise, through its subsidiary Intor Resources Corporation ("Intor") holds a 21% interest. Intor has notified Pilot Gold of its election to fund its US$1.26 million share of the amended 2014 program.

A Phase 2 drill program of approximately 25,600 metres is scheduled to begin with two drills on May 7, 2014, and is planned to include:

  • 12,500 metres of core drilling and reverse circulation ("RC") drilling for the Western Flank target;
  • 3,000 metres RC drilling for the Right Spot target;
  • 2,000 metres RC drilling for the Secret Spot target;
  • 2,000 metres of core and RC drilling near the historical pits, last mined in the 1990s.

Other targets slated for drilling in 2014 are Ken's Jasperoid, Racetrack, Baja Racetrack, Access Extension and Kinsley North. Drill testing of priority exploration targets up to seven kilometres to the north of the historical mine area within Kinsley North is expected to occur upon receipt of an Amended Plan of Operations. Large geochemical anomalies, strong gold values in surface rock samples and extensive geologic mapping have confirmed the presence of key structures and regional stratigraphic gold hosts at Kinsley North. An amendment to the existing Plan of Operations was submitted on November 6, 2013.

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