Nevada Sunrise – Golden Arrow and Kinsley Mountain Projects.

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Mon, Jun 28, 2010
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Post by Ingrid Sly, Gold ingrid

Overview

Nevada Sunrise Gold Crop. is a precious metals exploration company which has a portfolio of 4 100% owned projects in mining friendly Nevada totaling approximately 12,000 acres, with 43-101 compliant resources of over 400,000 ounces gold and over 5,000,000 ounces silver. The company was founded in 2007, by Bill Henderson, who realized the opportunities available in high quality gold properties in Nevada. The most advanced property is the Golden Arrow Project followed by past producer Kinsley Mountain.

Investment Highlights

  • Golden Arrow and Kinsley Mountain are in exploration earn-in joint venture agreements for up to $12 million in work commitment
  • Prospect Generator-uses extensive exploration experience and high end technical skills to search for and acquire exciting exploration projects that are then offered for joint venture
  • Extensive historical data on properties
  • In 2008 the state of Nevada produced 76% of  all gold in the US
  • Focused on acquiring, exploring, and developing gold silver projects in Nevada one of the friendliest mining jurisdictions in the world.
  • The joint Venture business model exposes investors to blue sky potential while limiting the risk and share dilution.
  • Currently has two of its projects in exploration earn-in joint venture agreements for up to $12 million in work commitments.
  • Management team is composed of a strong technical and geological team, with a strong history of establishing world class gold deposits in Nevada.
  • Currently trading at approx. $15 ounce gold/eq. Based on the current NI 43-101 Golden Arrow Resource.
  • Adjusted market cap is currently $6.9 million.

 

Chief Properties

map_projects

Golden Arrow

Golden_Arrow_property_view
Located high in the Nevada desert, the project covers 5,684 acres along the Walker Lane structural Belt, an area known for prolific gold and silver mineralization. The project consists of 279 unpatented mining claims surrounding 17 wholly-owned patented mining claims.

Golden Arrow was first discovered in 1905, and was mined through the 1930s. The property was explored by a number of companies since then, resulting in over 400 drill holes that exceed 150,000 feet.  Nevada Sunrise LLC acquired the property in 2002.

On March 30, 2010 the Company granted an option to Animas Resources Ltd. on the Golden Arrow property for up to 60% interest for $7.5 million in exploration work. Animas must spend $1.0 million by the end of 2010 and $3.5 million in exploration over the next 3 years to earn 51% interest and will then be granted a one-time option to earn an up to 60% of the project through the expenditure of an additional $4.0 million.

The Company has access to a vast amount of historical data on the property, which includes all of the core and most of the drill cuttings from past exploration drilling – and includes tons of duplicate drill samples and assay pulps. Nevada Sunrise has compiled nearly all of this within a Geographic Information System for three-dimensional visualization and interpretation.
In 2009, Nevada Sunrise hired Mine Development Associates of Reno Nevada to complete a NI 43-101 compliant Mineral Resource Estimate for the Golden Arrow property.

The Golden Arrow resource updated April 1, 2009 is quoted at a variable cut-off
grade of 0.34 grams per ton (opt)  gold for oxide material and 0.51 grams per ton
gold for non-oxidized material and consists of:

• A measured and indicated resource of 296,500 ounces of gold at an average
grade of 0.89 gpt Au and 4,008,000 ounces silver at an average grade of 11.356
gpt Ag (12,172,000 tons).

• An additional inferred resource of 50,400 ounces gold at an average grade of
0.46 gpt Au and 1,249,000 ounces silver at an average grade of 11.314 gpt Ag
(3,790,000 tons).

Kinsley Mountain

View_of_Kinsley_Mountain
Located in eastern Nevada, the Kinsley Mountain property consists of 141 unpatented lode mining claims covering approximately 2,807 acres. The property was previously mined by Alta Gold, who drilled over 1,156 holes at a total length of 244,900 feet, and produced approximately 135,000 oz of gold. Nevada Sunrise LLC acquired the property in 2000.

Mining by Alta Gold was restricted to a cluster of deposits aligned along a northwest-oriented fault zone.  Exploration drilling has identified several other mineralized centers, which are yet to be developed. Nevada Sunrise believes that there is significant resource in deeper material that was not fully tested by Alta.

On March 30, 2010 the Company entered into a joint venture deal with Animas Resources Ltd. on the Kinsley Mountain project, whereby they can earn up to 65% interest for 4.5 million in exploration work.  Animas must spend $200,000 by the end of 2010 and $1.5 million in exploration over the next 3 years to earn 51% interest.  Upon earning initial interest Animas will be granted a one-time option to spend a further $3 million in expenditures to earn a total interest of 65%.

Management

William B. Henderson, CEO & Director
Bill brings more than 25 years experience in the mining industry to Nevada Sunrise Gold Corp.  In 1983 he founded Geochemical Services, Inc. (GSI), which rapidly became a prime laboratory for exploration geochemistry in the U.S.  At GSI, Bill developed numerous technological innovations in trace element analysis, ultimately making GSI the pre-eminent laboratory for low detection limit / high analytical precision exploration data.  By the late 1980’s, GSI was the laboratory of choice for the majority of the major and mid-sized mining companies active in the western U.S.

In the early 1990’s Bill began acquiring and developing precious metals mining properties.  He assembled a portfolio of high potential mining properties located throughout Nevada.  During 2001 and 2002 Bill added Golden Arrow, Juniper and Kinsley Mountain to his portfolio and significantly increased the Iron Point property.
Prior to his career in the mining industry, Bill spent 18 years in the semiconductor industry working for Texas Instruments (Texas), Motorola (Arizona) and TRW (California).  He received his BS Chemistry degree in 1964 from North Texas State University (now The University of North Texas), in Denton, Texas.

Mike Tomczak, CFO
Mike has thirty years of experience in business and finance with private and public companies.
Mike was the CFO and secretary of Integrated Surgical Systems, Inc. (ISSM.PK) from 1991 through 1997, where he managed several venture capital financings and an IPO.  Previously, Mike was director of the Entrepreneurial Services Group in Ernst & Young’s Sacramento office.  Mike has also co-owned a software company, Retail Technologies International, and was its Chief Executive Officer.  He oversaw the sale of RTI in 2004.
Currently, Mike is a partner in a CPA firm that consults growth companies.  He also serves as a member of the Board of Directors of Integrated Surgical Systems, Mobius Technologies and CMBI.
Mike is a Certified Public Accountant and attended Western Michigan University where he earned his BA with a major in finance.

Other Directors
Warren Stanyer, President, Northern Continental Resources, Inc.

Robert D. Leppo, President, Leppo Investments

Richard Kehmeier, Senior Geologist, Vector Engineering Inc.

Other Officers
Vicky Wadman, Secretary

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