Exploration plans at Blackhawk Epithermal Project

Sierra Nevada Gold Inc (ASX: $SNX) is gearing up to conduct a drilling program at its Blackhawk Epithermal project in Nevada, USA. The company plans to initiate a seven-hole 1,500m reverse circulation (RC) drill program to follow up on high-grade silver intercepts, including 1,270 g/t Ag and 823g/t Ag, at the historic Endowment Mine. SNX's geological team will also undertake a field program to refine drill targets through geological mapping, soil geochemistry surveys, and rock chip sampling on vein target areas. Additionally, the company will utilize underground 3D scanning survey and a 100m dipole-spaced Induced Polarization (IP) geophysics survey to assist with drill hole targeting. SNX has recently completed a $2.6 million capital raising to advance exploration at the Blackhawk epithermal project and is considering strategic options for its remaining copper, gold, and silver assets in Nevada.

Executive Chairman's Perspective

SNX Executive Chairman Peter Moore expressed optimism about the upcoming exploration program at Blackhawk, citing the strong support for the recent $2.6 million share placement. He emphasized the company's commitment to uncovering the potential for a significant silver discovery and outlined the planned activities to define drill targets ahead of the Q3 2024 drilling mobilization. Moore also highlighted the strategic review initiated by SNX to explore options for asset sales or joint venture partnerships over its remaining copper, gold, and silver assets in Nevada.

Exploration Outlook

Sierra Nevada Gold Inc (ASX: $SNX) is set to embark on an extensive exploration program at the Blackhawk Epithermal project, with a focus on uncovering the potential for a significant silver discovery. The company's plans include a 1,500m RC drill program to follow up on high-grade silver intercepts at the historic Endowment Mine, supported by geological mapping, soil geochemistry surveys, and rock chip sampling to refine drill targets. Additionally, SNX will utilize advanced surveying techniques such as underground 3D scanning and Induced Polarization (IP) geophysics to enhance drill hole targeting. The recent capital raising of $2.6 million will facilitate the acceleration of exploration activities. Furthermore, SNX is actively considering strategic options for its remaining copper, gold, and silver assets in Nevada, indicating a dynamic approach to maximizing value for the company and its stakeholders.