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Sierra Nevada Gold Inc. (ASX:SNX)

ALERT: Price-sensitive ASX Announcement for SNX
Current share price for SNX : $0.105 -0.01 (-8.70%)+
Announcement
Release
24 Aug 2026 9:14AM
Price at Release
$0.115
Full Release
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Summary
Sierra Nevada Gold Inc. (SNX) announced the results of its Phase 1 drilling at the As Safra Copper-Gold Project in Saudi Arabia, confirming a substantial copper system. The drilling revealed a coherent system across the +800m Central Copper Zone, which remains open and extends over 3km through ancient workings. Multiple mineralising systems were identified, including copper-gold skarn/replacement and a new polymetallic breccia. These findings underscore As Safra as a district-scale, multi-phase mineral system with significant discovery potential. Phase 2 drilling will involve over 25,000m to expand and explore new targets. The project benefits from strong Saudi government support under Vision 2030, positioning SNX for strategic growth and diversification.
Key Points
  • Phase 1 drilling confirms a large copper system at As Safra.
  • A coherent copper mineralised system is identified across the +800m Central Copper Zone.
  • The Central Copper Zone is open along strike and at depth and continues for more than 3km through ancient workings.
  • Phase 1 has identified multiple mineralising systems, including copper-gold skarn/replacement and a new polymetallic breccia.
  • Phase 1 results demonstrate a multi-stage mineral system capable of producing multiple styles of mineralisation.
  • Phase 2 drilling is planned to expand known mineralisation and continue discovery exploration with over 25,000m of drilling.
  • Sierra Nevada Gold Inc. received strong support from Saudi government, aligning with Vision 2030 mining initiatives.
  • The As Safra project is a district-scale opportunity with substantial discovery potential and strategic diversification for SNX.
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.