SNX Returns 1,880g/t Silver, 31.2g/t Gold and 4.94% Copper at New High-Grade Silver, Gold, Copper and Antimony Prospects

Sierra Nevada Gold (ASX: SNX) is pleased to announce it has staked two additional projects prospective for high-grade silver-gold-copper near existing projects in Nevada, USA. The new projects are 10km west of SNX’s large-scale Blackhawk Porphyry and Epithermal Projects in Mineral County, SW Nevada (see figure 1).

Highlights

• In conjunction with ongoing work at its nearby Blackhawk Project, Nevada USA, SNX stakes two additional areas prospective for high-grade silver-gold-copper-antimony (see figure 1).
• Initial sampling returns 1,880g/t Ag from a quartz stockwork zone at Crystal Peak and 31.2g/t Au from G Mine area associated with copper up to 4.94% (see figure 2).
• Outcropping quartz stockwork zone at Crystal Peak returned high-grade silver results of 1,880 g/t Ag, 752g/t Ag, 485g/t Ag, 427g/t Ag, 142g/t Ag & 141g/t Ag within a 60m x 30m densely quartz veined (stockwork) area (see figure 3).
• Elevated copper and antimony at Crystal Peak stockwork, up to 0.64% Cu and 0.38% Sb.
• No drilling or modern exploration at either Crystal Peak or G Mine; last recorded activity in early 1980s.
• SNX has completed a soil sampling program covering extensions to the Crystal Peak and G Mine areas, with assays due in early October 2024.
• Building on existing reconnaissance mapping and sampling, SNX will aim to deliver drill targets for the 2025 field season.

SNX Executive Chairman Peter Moore said: “These new prospects near the Blackhawk Project in Nevada, have returned exciting high-grade results from the initial mapping and sampling work. Results demonstrate potential for high-grade silver, gold, copper and antimony mineralisation with results up to 1,880g/t silver with associated copper and antimony at Crystal Peak and up to 31.2g/t gold at G Mine. We are excited to be the first explorer to implement modern exploration techniques across this ground, and we are planning additional exploration to follow up these initial results. Preparations for the upcoming RC drilling program at the Endowment high-grade silver mine located 10kms east of Crystal Peak continue with drilling expected to commence in early October”.

At Crystal Peak, SNX identified a high-grade silver-copper-antimony quartz stockwork zone outcropping over an area of 60m x 30m. The stockwork zone forms a prominent ridge with outbound dispersed quartz float zones suggesting potential for extensions to currently mapped zone.

SNX’s initial mapping and sampling at Crystal Peak returned peak silver assays of up to 1,880g/t Ag, 752g/t Ag, 485g/t Ag and 427g/t Ag, all with strong copper and antimony association.

Figure 1: Plan view of newly staked Crystal Peak and G Mine prospects located 10km west of SNX’s large- scale Blackhawk Porphyry and Epithermal Projects.

Figure 2: Plan view of the newly staked Crystal Peak and G Mine showing structure, alteration and main prospect areas and G Mine rock chips locations.

Crystal Peak

The Crystal Peak stockwork zone is hosted within a coarse-grained quartz monzonite which in turn forms part of a larger composite intrusion complex ranging in composition of granodiorite to quartz monzonite. Locally, minor diorite intrusions are observed although account for only a small portion of the composite intrusion.

Alteration about the stockwork zone and along through-going structures is characterised as proximal quartz- sericite-pyrite within a larger argillic alteration halo (see figure 2). Typically, the quartz stockwork is made up of continuous to semi-continuous linear veins up to 10cm wide at various attitudes to each other (see photo 1). While there are some prominent low angle veins many of the veins are sub-vertical, suggesting good potential at depth. Within the stockwork, vein density ranges from 3 veins per meter up to 15 veins per meter where veins account for up to 85% of the rock by volume. Within the larger stockwork area some consistently more sheeted quartz vein zones are observed.

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