Sierra Completes Soil Geochemistry Programs at its Nevada Properties
DELTA, BC, May 25, 2021 /CNW/ - Sierra Growth Corp. (the "Company" or "Sierra") (CSE: SGRO) (OTC: SIERF) (FSE: F9IQ) is pleased to announce that it has completed soil geochemistry programs over all 3 of its Nevada projects: Glitra/Sat, Mildred/B&C Springs and Betty East.
Program Summary
Previously announced fieldwork was recently completed at Sierra's 3 properties, Glitra-Sat, Betty East, and B&C Springs-Mildred, located in the northern part of the Walker Lane trend of west-central Nevada. The focus of the work was on soil geochemistry, with totals of 813, 332, and 645 soil geochemical samples collected from the Glitra-Sat, Betty East, and B&C Springs-Mildred properties, respectively. Including blank samples submitted for QA/QC, a total of 1,805 soil geochemical samples were submitted. The aim on each property was to provide more or less complete coverage of the properties via wide-spaced sampling (50 to 100 metres between samples) along lines oriented across known mineralized and/or altered trends separated by 100 to 200 metres. 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 instrument. This approach appears to have highlighted both known trends and a number of new areas worthy of follow-up. Complete assay results from this soil geochemistry program via gold fire assay and multi-element ICP are expected to be received from ALS's laboratory in Reno within approximately one month, and will be released following compilation and interpretation in light of what is known of the historical exploration at each property.
Sonny Janda, President and CEO, commented, "The completion of this program is an important step. Collecting the baseline data for these properties is a precursor to advancing to the drill-testing stage. We look forward to releasing results as they are available. In addition to the ongoing exploration at our existing prospects, we continue to evaluate other opportunities in the region with the aim of building a regional land package in western Nevada."
Next Steps
Should results from the recently completed soil geochemistry program prove encouraging, it will likely be succeeded by geological mapping and prospecting, along with airborne magnetic and ground-based induced polarization ("IP") geophysical surveys in a second phase of exploration, leading to the ultimate objective of delineating targets for first-pass reverse circulation ("RC") drilling.
About the Nevada Projects
Mildred/ B&C Springs
The Mildred claims, the historical Mildred mine, and the nearby B&C Springs property are located in the southern Paradise Range in west-central Nevada, within the Fairplay Mining District, which is readily accessible from nearby Hawthorne or Tonopah via highways and well-maintained gravel roads and off-road trails (Figure 1). Exploration at B&C Springs was previously focused on skarn and vein occurrences hosting molybdenum, copper, and silver, which were interpreted to be genetically associated with Triassic-Jurassic intrusions such as the nearby Buzzard Peak stock. Historical workings are ubiquitous across the property, and on the contiguous Mildred property, precious metals mineralization within the host sedimentary rocks is associated with calc-silicate horizons, fault zones and dikes of probable Tertiary age. The possibility that a secondary epithermal event has overprinted an earlier porphyry/skarn mineralizing event will be evaluated. The area encompassed by the B&C Springs-Mildred properties total approximately 1,450 acres.
Glitra/Sat
The Glitra/Sat claims 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 and deposits (Figure 1). The properties are 45 kilometres northwest of Lovelock, a fully serviced town on Interstate 80, and are accessible via paved and well–maintained gravel and dirt roads. Both the Glitra and Sat properties have seen historical small–scale mining and limited amounts of modern–day exploration, most recently in the 1980's and early 1990's, when trenching and limited shallow RC drilling was undertaken. Several known gold showings with attractive epithermal-style alteration and veining occur on the property. They are commonly associated with felsic dikes and lie along a mineralized trend that links the historical Seven Troughs mining area immediately south (Timberline Resources), with the Wildcat property (Waterton Global Resource Management) immediately north. At Sat, an extensive and high-tenor gold-in-soil geochemical anomaly lies along a sub-parallel trend that was outlined by previous operators and is similarly associated with epithermal-style alteration and local veining. The total area encompassed by the Glitra and Sat properties equals roughly 1,130 acres.
Betty East
The Betty East property is located in west-central Nevada, approximately 40 miles north of the town of Tonopah, in Nye County. The claims, which cover 403 acres, lie at the southern end of the Manhattan Mining District, immediately north of Liberty Gold's Baxter Springs project and less than 20 km south of the world class Round Mountain mine (2020 gold equivalent production of 324,277 ounces, proven and probable reserves as of December 31, 2020 of 2.245M oz Au, and >15 million ounces of total production1). Work on the Betty East property by Nevada Goldfields in the 1990's outlined a north-northwest trending gold-mineralized zone on the core claims that coincides with a number of historical pits, shallow shafts, and adits and this trend will be the initial focus for the Betty East exploration program. The property is readily accessible from Tonopah via state highway 376 and a network of well-maintained gravel roads.
1. https://kinrossworld.kinross.com/en/location/round-mountain/ (Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's properties.) |
ON BEHALF OF THE BOARD
"Sonny Janda"
______________________
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."
SOURCE Sierra Growth Corp.
on the Company, please contact Sonny Janda, Director, Telephone: 604-357-3741 or at [email protected]
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