
June 17, 2024
Previous drilling at Blackhawk returned up to 1,270 g/t Ag (BHD006) beneath the historic Endowment Mine, previous rock chip sampling returned +1% silver from the Morning Star Mine1
Sierra Nevada Gold (ASX: SNX) is pleased to announce it is preparing a drilling program to follow up drill hole BHD006 which returned results including 0.5m at 1,270 g/t Ag and 1m at 823g/t Ag at Endowment Mine, part of its Blackhawk Epithermal project in Nevada, USA.1
Highlights
- SNX plans seven-hole 1,500m reverse circulation (RC) drill program to follow up on drillhole BHD006, which was drilled beneath the historic Endowment Mine.
- High-grade silver intercepts are associated with very high-grade lead-zinc (see table 1), demonstrating potential for extremely high value ore at Blackhawk Epithermal Project.
- SNX’s geological team will initiate a field program to complete geological mapping, soil geochemistry surveys and rock chip sampling on vein target areas, to further refine drill targets in preparation for drilling in the third quarter of 2024.
- Underground 3D scanning survey of accessible historic workings at the Endowment Mine will map extent and location of historic workings to accurately target planned drill holes following up on drill hole BHD006.
- SNX will initiate a focused, 100m dipole-spaced Induced Polarization (IP) geophysics survey over preferred portions of the vein field to assist with drill hole targeting.
- Blackhawk epithermal project has potential for a significant silver discovery, with 22.5- line kilometres of high-grade silver-gold-lead-zinc veins identified1.
- SNX completed a $2.6 million capital raising in May 2024 to advance exploration at Blackhawk epithermal project.2
- It has commenced a strategic review to progress full or partial asset sales or joint venture partnerships over remaining copper, gold and silver assets in Nevada, USA.
SNX Executive Chairman Peter Moore said “We were encouraged by the strong support for our recent $2.6 million share placement and proceeds from this will allow the company to accelerate our exploration program at Blackhawk as we look to uncover its potential to be a significant silver discovery. We have several activities planned to ensure our drill targets are well defined ahead of mobilising a rig to site in Q3 2024 to follow up these exciting earlier silver results.”
SNX has identified a large and high-grade intermediate sulphidation polymetallic epithermal Ag-Au-Pb-Zn vein system at Blackhawk, which is related to a large porphyry system. Partially coincident with, and located north of the Blackhawk Porphyry system, the vein field covers about 5km2 and is open under cover to the north and northeast, with 22.5-line km of veins identified to date (see figures 1 & 2).

SNX’s geological team will initiate a field program to complete geological mapping, soil geochemistry surveys and rock chip sampling on mapped vein target areas, to further refine drill targets in preparation for drilling. A program of seven reverse circulation (RC) holes is planned for 1500m in the third quarter of 2024 to follow up the result of 1,270 g/t Ag hit in BHD006 drilled in 2017.
Click here for the full ASX Release
This article includes content from Sierra Nevada Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The Conversation (0)
9h
Top 5 Canadian Mining Stocks This Week: Lighthouse Gold Shines with 78 Percent Gain
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Reuters reported on Friday (June 19) that a Panamanian government-led audit of First Quantum... Keep Reading...
9h
David Nicholas: Gold's Next 30 Days — 10 Percent Price Pop?
David Nicholas, co-founder of XFunds, shares his outlook for gold, calling it "very constructive." In his view, it wouldn't be surprising to see an 8 to 10 percent price increase in the next 30 days. "I think gold and silver are the next trades to do really well here," Nicholas said.Don't forget... Keep Reading...
14h
DGCX Introduces First Same-Day Physical Gold Contract in Gulf
The Dubai Gold and Commodities Exchange (DGCX) will launch the Gulf region’s first same-day physically settled spot gold contract on Monday (June 22), providing bullion dealers a regulated alternative to traditional over-the-counter markets.The Gold Spot T+0 Contract allows refineries, brokers,... Keep Reading...
17 June
Gold Price Dips Back Below US$4,300 as New Fed Chair Holds Rates Steady
The US Federal Reserve held its first meeting with new Chair Kevin Warsh from Tuesday (June 16) to Wednesday (June 17) as a US-Iran peace deal is on the table and the US economy is in the midst of a three-year inflation high alongside a resilient labor market. The central bank held the federal... Keep Reading...
17 June
Jeffrey Christian: Gold, Silver, PGMs — My Summer Price Outlook
Jeffrey Christian, managing partner at CPM Group, shares his summer outlook for gold and silver prices, saying he expects consolidation within a volatile range. However, as the year continues, he believes both precious metals could move back toward highs seen earlier in 2026. Platinum and... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00





