VANCOUVER, BC--(MARKET WIRE)--Apr 1,
2009 -- Nevada Sunrise Gold
Corporation (CDNX:
NEV.V
-
News) has completed its updated
mineral resource estimate for the
Golden Arrow gold-silver deposit
located in central Nevada. The
mineral resource estimate includes
results from drill holes completed
and assay results received from the
2008 drilling program.
The Classified Mineral Resource
estimate is quoted at a variable
cut-off grade of 0.010 ounces per
ton (opt) gold for oxide material
and 0.015 opt gold for non-oxidized
material and consists of:
-- A measured and indicated resource of 296,500 ounces of gold at an
average grade of 0.024 opt Au, and 4,008,000 ounces silver at an average
grade of 0.33 opt Ag (12,172,000 tons).
-- An additional inferred resource of 50,400 ounces gold at an average
grade of 0.013 opt Au, and 1,249,000 ounces silver at an average grade of
0.33 opt Ag (3,790,000 tons).
William B. Henderson, Chief
Executive Officer of Nevada Sunrise,
commented, "The results of our 2008
drilling program at Golden Arrow
validate the geological and
mineralization models developed
earlier by Dr. Odin Christensen and
Mine Development Associates. The
quality of this work substantially
strengthens our mineral resource
estimate and provides a solid
scientific foundation for
exploration. We are currently
performing a scoping study to better
understand our development and
production options."
Gold grade Gold Silver Silver
Classification Tons (opt) (ounces) grade (opt) (ounces)
---------- ---------- ---------- ---------- ----------
MEASURED 1,850,000 0.028 52,400 0.43 796,000
---------- ---------- ---------- ---------- ----------
INDICATED 10,322,000 0.024 244,100 O.31 3,212,000
---------- ---------- ---------- ---------- ----------
MEASURED & INDICATED 12,172,000 0.024 296,500 0.33 4,008,000
---------- ---------- ---------- ---------- ----------
INFERRED 3,790,000 0.013 50,400 0.33 1,249,000
---------- ---------- ---------- ---------- ----------
The mineral resource estimate was
completed by Mine Development
Associates (MDA) of Reno, Nevada.
The resources were modeled and
estimated by evaluating the drill
data statistically and utilizing a
three-dimensional geological solid
model provided by Nevada Sunrise.
Mineral domains were interpreted on
NE-SW geological cross sections
spaced approximately 100-feet
throughout the extent of the Golden
Arrow mineralization. The mineral
domain interpretations were then
rectified to east-west cross
sections spaced at 20-foot
intervals. Estimation was done by
inverse-distance. Quality-control
data generated by Nevada Sunrise
during the 2008 drilling program
were independently reviewed by MDA
as part of the resource study. The
person responsible for the resource
estimate on behalf of MDA is Steven
Ristorcelli, P. G., a Qualified
Person as defined by Canadian
National Instrument 43-101. Further
details of the estimation procedure
will be available in an updated NI
43-101 technical report, which will
be posted on SEDAR (http://www.sedar.com/),
no later than 45 days from the date
of this release.
The Nevada Sunrise property at
Golden Arrow consists of 279
unpatented lode mining claims
surrounding 17 patented lode mining
claims, wholly owned by the company,
covering a total area of 5,684 acres
(2,300 hectares) located
approximately 40 miles (60 km) east
of Tonopah, Nevada.
The Golden Arrow deposit consists
of two mineral centers called Hidden
Hill and Gold Coin. The
volcanic-rock hosted gold-silver
deposit includes both low-sulfide
high-angle quartz-gold veins and
disseminated hot-springs style gold
mineralization. Mineralization is
exposed at the surface within the
Gold Coin zone.
During 2008, the company
completed a drilling program
including 5 diamond core holes
totaling 3,584 feet (1,092 meters)
plus 28 reverse-circulation holes
totaling 16,880 feet (5,145 meters)
for mineral resource confirmation,
deposit expansion, and exploration.
Ongoing testing of drill core
material from Golden Arrow by
McClelland Laboratories of Reno,
Nevada, demonstrates favorable
metallurgical characteristics for
mineralized material.
The next stage for Golden Arrow
will be continued exploration,
metallurgical test work, mining
studies, environmental assessments
and related investigations that will
be evaluated to determine how the
deposit might be expanded and
exploited.
About Nevada Sunrise
Nevada Sunrise Gold Corporation
is focused on exploration and
development of precious metal
properties in Nevada. For the latest
details on the Company, its
properties, management team and
philosophy, please visit our website
at
www.nevadasunrise.com.
Odin D. Christensen, PhD,
Certified Professional Geologist, is
the Company's designated Qualified
Person for this news release and has
reviewed the information contained
in the release and confirmed that it
is consistent with that provided by
the independent QP responsible for
the resource estimate, Steven
Ristorcelli of MDA.
CAUTIONARY NOTE
This release contains
forward-looking statements which may
include, but is not limited to,
statements with respect to the
timing of our exploration and
drilling programs; geological
models; expectations related to
enhancing resource grades; financing
plans and availability of future
financing for our projects;
anticipated results of our
exploration, mineral resource
estimates and other plans,
projections, estimates and
expectations. Forward-looking
statements address future events and
conditions which are subject to
various risks and uncertainties that
are based on the expectations and
opinions of the Company's management
on the date the statements are made.
The assumptions used in the
preparation of such statements,
although considered reasonable at
the time of preparation, may prove
to be imprecise and, as such, undue
reliance should not be placed on
forward-looking statements. For
details of the Company, its business
and properties, including risks
relating to an investment in
securities of the Company, see the
Company's prospectus dated June 25,
2008, as amended by an amendment
dated August 22, 2008, both of which
are available on SEDAR at
www.sedar.com, or directly from
the Company.
Cautionary Note to United States
Investors Concerning Estimates of
Measured, Indicated and Inferred
Resources: This news release uses
the terms "Indicated" and "Inferred"
Resources. United States investors
are advised that while such terms
are recognized and required by
Canadian regulations, the United
States Securities and Exchange
Commission does not recognize them.
"Inferred Mineral Resources" have a
great amount of uncertainty as to
their existence, and as to their
economic and legal feasibility. It
cannot be assumed that all or any
part of an Inferred Mineral Resource
will ever be upgraded to a higher
category. Under Canadian rules,
estimates of Inferred Mineral
Resources may not form the basis of
feasibility or other economic
studies. United States investors are
cautioned not to assume that all or
any part of Indicated Mineral
Resources will ever be converted
into Mineral Reserves. United States
investors are also cautioned not to
assume that all or any part of an
Inferred Mineral Resource exists, or
is economically or legally mineable.
The TSX Venture exchange has not
reviewed and does not accept
responsibility for the adequacy or
accuracy of this release. The
Securities of Nevada Sunrise Gold
Corporation have not been registered
under the United States Securities
Act of 1933, as amended, and may not
be offered or sold within the United
States or to the account or benefit
of any U.S. person.