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Sierra Nevada Gold Inc. (ASX:SNX)

ALERT: Price-sensitive ASX Announcement for SNX
Current share price for SNX : $0.075 0.008 (11.94%)+
Announcement
Release
4 May 2026 8:19AM
Price at Release
$0.067
Full Release
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Summary
Sierra Nevada Gold Inc. (SNX), through its subsidiary Arabian American Minerals (AAM), has commenced drilling at the As Safra Copper-Gold Project in Saudi Arabia following the grant of Exploration Licences by Royal Decree. This marks a significant milestone for SNX, highlighting their preparedness and the strategic importance of the project within Saudi Arabia's expanding mining sector. The company has mobilized three drill rigs and plans to drill 5,000 meters in phase 1, targeting high-priority zones identified through integrated geophysical and geochemical data. The project, characterized by a broad mineralized footprint and a well-developed metal zonation, reflects the potential for district-scale copper-gold mineralization. The initial phase of drilling is set to conclude with preliminary results expected by the end of May 2026.
Key Points
  • Drilling commenced at As Safra after Exploration Licences granted by Royal Decree.
  • Mobilization of three drill rigs, with 5,000 meters of drilling planned for phase 1.
  • High-priority zones targeted through integrated geophysical and geochemical data.
  • Project features a district-scale mineralized footprint with potential for copper-gold systems.
  • Initial drill results expected by the end of May 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.