Sierra Nevada Gold (ASX:SNX) is lining up a new batch of drill targets to be tested at its Warrior Gold Project in central Nevada, US after posting ‘positive’ results at shallow depths from the historic Warrior Mine.
The $6 million market capitalisation company says results, generated from a 12-hole reverse circulation (RC) drilling program, demonstrate gold grades up to 5.49 grams per tonne Au at the Gold Coin shaft.
Drilling was designed to test near-surface mineralisation at the Gold Coin and Discovery Shaft areas within the historic Warrior mining centre.
Remnant mineralisation was intersected adjacent to mining voids, demonstrating previous miners did not extract the entire mineralised envelope, but selectively mined ‘bonanza’ grade material.
Sierra Nevada also announces it has identified a second, and overprinting, hydrothermal system through presence of highly anomalous geochemistry being consistent with the geochemistry observed within high level portions of a system.
This second system is consistently seen beneath and occasionally overprinting the outcropping veins and provides extra scope for vein targeting.
Executive Chairman Peter Moore says: “Our results have identified potential for a fully preserved epithermal vein system below the outcropping and previously mined high-grade veins at the Warrior Mine.
Identifying this well distributed second system beneath the entire Warrior Mine is very encouraging and increases the search space for high-grade epithermal veins within the immediate Warrior Mine area.”
Meanwhile, at the OMCO mine area, field mapping and sampling is planned to continue building on the phase one program previously carried out in 2023.
Sierra Nevada was established in 2011 with more than US$10 million invested in building and exploring a portfolio of 5 wholly owned controlled projects.
The company’s Warrior Gold project sits 32km away from the nearby town of Gabbs and 80km from the regional centre of Tonopah.
Write to Adam Drought at Mining.com.au
Images: Sierra Nevada Gold
