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Highlights:
Sierra Nevada Gold completes Phase 1 reverse circulation (RC) drilling at its Endowment Mine in Nevada.
Drilling results confirm the intersection of high-grade silver, with sulphide and argillic alteration observed.
The company plans follow-up drilling based on early indications from the program, with assays due in early 2025.
Sierra Nevada Gold (ASX:SNX) has reported the successful completion of Phase 1 reverse circulation (RC) drilling at its Endowment Mine, located within the broader Blackhawk Epithermal Project in Nevada. The company conducted 11 drill holes totaling 1,317.5 meters, with depths ranging from 50 meters to 206 meters. The focus of the drilling was on near-surface vein extensions, geophysical chargeability (IP) targets, and historical areas known for high-grade ore.
Initial results from the drilling have shown significant signs of mineralisation, including argillic alteration and the presence of sulphides such as pyrite and silver-sulfosalt minerals. In addition, historic mine workings were intersected during the drilling process, further validating the potential of the project.
Sierra Nevada Gold has announced that detailed assay results from the first batch of samples will be released within the next four weeks, with further results expected in the first quarter of 2025. These results are expected to provide more clarity on the grade and extent of mineralisation at Endowment, and will help guide future exploration activities.
Executive Chairman Peter Moore expressed optimism about the initial findings, noting that the observed alteration and sulphides in the RC drill chips have bolstered confidence in the potential of the Endowment Mine. Based on the promising early-stage results, the company is planning a follow-up drilling program in the second quarter of 2025. The forthcoming assay results will inform the next phase of exploration, shaping the strategy for ongoing drilling at the site.
The successful completion of this Phase 1 drilling marks an important milestone for Sierra Nevada Gold as it progresses with its exploration activities in Nevada.
