Sierra Nevada Gold's New High-Grade Discoveries in Nevada
SIERRA NEVADA GOLD INC. (SNX) Share Update September 2024 Tuesday 17th
Sierra Nevada Gold Unveils High-Grade Mineral Discoveries in Nevada
Sierra Nevada Gold Inc (ASX: SNX) has announced significant high-grade mineral findings at two newly staked prospects near its Blackhawk Project in Nevada, USA.
Instant Summary:
- Initial sampling at Crystal Peak returns 1,880g/t silver and 31.2g/t gold at G Mine.
- Copper content up to 4.94% at G Mine area.
- No modern exploration or drilling at either site since the 1980s.
- Soil sampling program completed with assays expected in early October 2024.
- Plans for further exploration and drilling targets for the 2025 field season.
Exciting New Discoveries
Sierra Nevada Gold Inc (ASX: SNX) has staked two additional areas near its Blackhawk Project in Nevada, USA, which show promising high-grade silver, gold, copper, and antimony prospects. Initial sampling at Crystal Peak has returned impressive results, including 1,880g/t silver from a quartz stockwork zone and 31.2g/t gold from the G Mine area, along with copper content up to 4.94%.
The Crystal Peak prospect features a quartz stockwork zone outcropping over a 60m x 30m area, with silver assays peaking at 1,880g/t Ag, 752g/t Ag, 485g/t Ag, and 427g/t Ag. The G Mine area also shows significant mineralization, with a peak rock chip sample returning 31.2g/t Au, 171g/t Ag, and 4.94% Cu.
Historical Context and Future Plans
These newly staked areas have not seen modern exploration or drilling since the early 1980s. SNX has completed a soil sampling program covering the extensions of Crystal Peak and G Mine areas, with assay results expected in early October 2024. The company plans to use these results to identify potential drill targets for the 2025 field season.
SNX Executive Chairman Peter Moore expressed excitement over these findings, emphasizing the potential for high-grade mineralization and the company's plans to implement modern exploration techniques to further investigate these prospects.
Geological Insights
The Crystal Peak stockwork zone is hosted within a coarse-grained quartz monzonite, part of a larger composite intrusion complex. The zone features continuous to semi-continuous linear veins, with vein density ranging from 3 to 15 veins per meter. The G Mine area shows mineralization predominantly at contacts between diorite and quartz-monzonite, with scattered historical pits indicating gold, silver, and copper enrichment.
SNX collected 14 rock chip samples from the Crystal Peak area, with the highest grades of silver associated with open fill quartz-sulphide bearing veins. The G Mine area also returned significant results from initial reconnaissance, encouraging further exploration.
The announcement of these high-grade mineral findings is likely to positively impact Sierra Nevada Gold's stock price. The high silver, gold, and copper grades, along with the potential for further discoveries, could attract investor interest and drive up the stock price. The company's plans for additional exploration and drilling in 2025 also suggest long-term growth potential.
Investor Reaction:
Analysts are likely to react positively to this announcement, given the high-grade mineral findings and the potential for further discoveries. The lack of modern exploration in these areas since the 1980s adds to the excitement, as it suggests untapped potential. Investors may see this as an opportunity to invest in a company with promising prospects and a strategic plan for future exploration.
Conclusion:
Investors should keep an eye on the upcoming assay results in October 2024 and the company's plans for the 2025 field season. Sierra Nevada Gold's strategic approach to exploring these high-grade prospects could lead to significant discoveries and long-term growth. Stay informed and consider the potential impact on your investment portfolio.