Sierra Nevada Gold's positive start to 2024

Sierra Nevada Gold Inc. (ASX: $SNX) has reported positive results from a 12-hole reverse circulation (RC) drilling program at the historic Warrior mining centre in Nevada. The program, conducted in December 2023, returned strong assays from near-surface mineralization at the Gold Coin and Discovery Shaft areas. Key results include 20.73m at 2.13g/t Au from 62.2m, 4.88m at 5.49g/t Au from 8.5m, and 10.97m at 1.80g/t Au from 40.2m. The company also announced the appointment of Dr. David Ransom as a Non-Executive Director.

Executive Chairman's perspective on the results

Executive Chairman Peter Moore expressed satisfaction with the positive results from the recent drilling program, highlighting the validation of historic records and the identification of a second, overprinting hydrothermal system. The appointment of Dr. David Ransom, with his extensive experience in mining, exploration, and corporate finance, was emphasized as a significant addition to the board, underlining the potential in the company's assets.

Outlook and next steps

Sierra Nevada Gold plans to capitalize on the successful phase 1 program and further explore the promising epithermal system at the Warrior Project. The identification of a second phase of mineralization beneath the entire Warrior Mine is seen as encouraging, providing additional scope for high-grade epithermal veins. The company also aims to drill further targets and conduct field mapping and sampling at OMCO to build on the successful Phase 1 work. Additionally, the initiation of a joint venture process for the Warrior gold project and the Blackhawk Porphyry Project reflects the company's ongoing efforts to seek partners for its projects. Sierra Nevada Gold's Annual General Meeting is scheduled for 29 May 2024, and the company remains focused on managing its forecast expenditure, cashflow requirements, and assessing funding options as required.