After staking two additional prospects, Sierra Nevada Gold (ASX:SNX) has received silver assays up to 1,880 grams per tonne of silver at the Crystal Peak prospect in Nevada, US.
Shares jumped as much as 37.5% on Wednesday (18 September) to an intra-day peak of $0.055 following the news.
The company uncovered a silver-copper-antimony quartz stockwork zone outcropping over an area of 60m by 30m at Crystal Peak. The stockwork zone forms a prominent ridge with outbound dispersed quartz float zones suggesting potential for extensions to the currently mapped zone.
Sierra Nevada reports other assays including 752g/t silver, 485g/t silver, and 427g/t silver. All of the assays have strong copper and antimony association.
elevated copper of 0.65% and antimony of 0.38% were also reported from the Crystal Peak stockwork.
Meanwhile, samples grading up to 31.2g/t gold, with associated copper of up to 4.94%, were returned from the G Mine area.
Executive Chairman Peter Moore says the new prospects near the Blackhawk Project in Nevada, have returned results that demonstrate potential for silver, gold, copper, and antimony.
“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,” Moore says.
“Preparations for the upcoming reverse circulation drilling program at the Endowment high-grade silver mine located 10km east of Crystal Peak continue with drilling expected to commence in early October.”
The company has completed soil sampling covering extensions to the Crystal Peak and G Mine areas, with assays due to be returned early next month.
Once the soil analysis has been returned, the Sierra Nevada Gold team will begin further mapping, building on the existing reconnaissance mapping and sampling, aiming to deliver drill targets for the 2025 field season if warranted.
Sierra Nevada Gold is actively engaged in exploring and acquiring precious and base metal projects in the highly prospective mineral trends in Nevada, US.
Write to Aaliyah Rogan at Mining.com.au
Images: Sierra Nevada Gold
