Surrey, British Columbia, August 31, 2021, Sierra Grande Minerals. (the “Company” or “Sierra”) (CSE: SGRO) (OTCQB: SIERF) (FSE: F91Q) The company is pleased to announce that it has received the results for its previously announced soil geochemistry programs at its Glitra and Sat prospects in Western Nevada. The Glitra/Sat prospects are located in Pershing County, western Nevada, in the Seven Troughs Range of the Farrell Mining District, which hosts numerous historical and modern‐day mineral occurrences.
A total of 1,805 soil geochemical samples were collected on the Company’s four west-central Nevada properties, Glitra, Sat, Betty East, and B&C Springs, located in the northern part of the Walker Lane trend. The aim of the recently completed work at each property was to provide complete soil geochemical coverage via wide-spaced sampling (50 to 100 metres between samples along lines separated by 100 to 200 metres). The lines were oriented to cross known mineralized and/or altered trends at high angles, and preliminary analyses for gold pathfinder elements (e.g., As and Sb) along with base metals (e.g., Cu, Pb, Zn) were obtained through use of a portable XRF (pXRF) instrument while field work was underway. Further details regarding the location, access, infrastructure, previous work and geologic characteristics, along with results of due diligence rock geochemical sampling from the three properties were given in the Company’s news release dated April 13, 2021.
- At Glitra, a promising +1km north-northeast trending mineralized and altered zone with a pronounced epithermal Au-Ag-As-Hg signature, and ranging in width up to 150 to 200 metres, was identified (see figure 1).
- Consistently high gold-in-soil results along the NNE trend, including values of 1460, 1400, 987 and 718 ppb gold
- A total of 467 samples collected, with 58 samples returning values > 100 ppb gold
- An additional 77 claims staked by Sierra along this NNE trend increasing the size of the Glitra property 5 fold
- At Sat, strong soil sampling results also appear to outline a north-northeast trending anomalous zone, or zones, with a pronounced Au-Hg-As-Ag signature that most likely follows structurally-controlled epithermal mineralized and altered zones (see figure 2).
- Highlighted gold-in-soil values along this trend include values of 905, 529 and 345 ppb gold
- A total of 355 samples collected, with 31 samples returning values > 100 ppb gold
- An additional 19 claims were staked along this north-northeast trend, roughly doubling the size of the Sat property
Sierra’s President and CEO Sonny Janda commented “The results from our soil sampling programs are very encouraging and demonstrate the potential for exciting new discoveries at Glitra/Sat. Follow up phase two exploration will include geologic mapping, ground IP and airborne magnetic surveys and, ultimately, first pass RC drilling to test the most prospective of these targets. Additionally we look forward to releasing the soil geochemistry results from our other two projects, B&C Springs and Betty East, as they become available.”
The Glitra and Sat properties abut Waterton Global Resource Management’s Wildcat property on its west and east side, respectively, and are separated by approximately three kilometres. The Wildcat Property hosts an historical 43-101 compliant resource of 1.1 million oz Au(1). Lying between the Glitra and Sat properties, and surrounded by the southern part of the Wildcat property claims, is another small “inlier” of Sierra’s claims known as the Orbit claims.
The soil geochemical sampling on the northerly-trending Glitra property has outlined a promising north-northeast trending mineralized and altered zone with a pronounced epithermal Au-Ag-As-Hg signature (467 samples collected). This anomaly appears to outline a minimum strike length of greater than one km, and at the center of the trend, over a previously trenched area known as the “Glitra Saddle,” detailed soil geochemical contour lines were run with spacings of approximately 10 metres between samples. There the soil geochemical anomaly shows consistently high results over a width of as much 150 or 200 metres, with gold values ranging to a high of 1460 ppb. Farther north, the zone may or may not be as well developed, because samples collected along the apparent trend on the steep lower slopes of Stonehouse canyon returned somewhat mixed results for Au, Ag and As. There, the suggestion is that colluvium may have partially covered a mineralized and altered trend and diluted the geochemical signature in soils.
To the southeast of the main Glitra Saddle zone, the soil geochemical sampling highlights similar Au-Ag-As-Hg highs that are suggestive of branching and/or subparallel zones to that at Glitra Saddle. These are best displayed in the As and Hg data and clearly merit follow-up soil sampling, prospecting and mapping. An additional 77 claims have been staked to cover both the southward extent of the main north-northeast to north-trending Glitra Saddle trend, which remains open.
On the Sat claims, the results of soil sampling (355 total samples collected), as at Glitra, appears to outline a north-northeast trending anomalous zone, or zones, with a pronounced Au-Hg-As-Ag epithermal signature that most likely represents structurally-hosted mineralized and altered zones. Individual samples within the main zone lie not far from the boundary between pediment and range, and may trend south-southwestward across the lower reaches of Stonehouse canyon. At Sat, gold values in soil ranged up to 904 ppb. The results validate those of previous explorers and are exciting in that they suggest the possible continuation of the zone(s) beneath post-mineral cover, both in the pediment and also perhaps in bedrock. An additional 19 claims were added to the Sat claim block.
The soil geochemical sampling at the Glitra and Sat properties confirmed the presence of near-surface gold- and silver-bearing zones, both of which display continuity along promising strike-lengths and at least locally significant widths.
Next steps for the Glitra and Sat properties include geologic mapping, a ground-based Induced Polarization (IP) survey, airborne magnetometer surveying, prospecting, and possibly some follow-up soil geochemical sampling, with the aim of developing clear targets for first pass RC drilling.
Figure 1. Glitra plan view with highlighted gold-in-soil results
Figure 2. Sat plan view with highlighted gold-in-soil results
Technical data pertaining to this new release was reviewed and approved by Charles J. “Charlie” Greig, MSc., P.Geo., a qualified person under National Instrument 43-101.
ON BEHALF OF THE BOARD
Sonny Janda, Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”
(1) 38,108,300 tons at 0.5625 g/t Au for 679,800 oz Au indicated category. 28,354,600 tons at 0.469 g/t Au for 435,600 oz Au inferred category (Mine Development Associates, 2003)