Sierra Nevada Gold Discovers Polymetallic System at As Safra Project in Saudi Arabia

Sierra Nevada Gold (ASX: SNX) has discovered a polymetallic breccia system at the As Safra copper-gold project in Saudi Arabia following the intersection of high-grade precious and base metals mineralisation in two reverse circulation holes.

The gold-silver-copper-lead-zinc discovery sits beneath shallow cover approximately 400 metres south of the Central Copper Zone, confirming that mineralisation at As Safra was formed through multiple hydrothermal events rather than a single copper-bearing phase.

The breccia’s distinct metal association and location from near surface to approximately 50m depth broadens the exploration model, supports the interpretation of a large, long-lived mineral system and validates Sierra’s integrated targeting approach.

Best assay from the reverse circulation holes was 11m at 1.15 grams per tonne gold, 108.7g/t silver, 0.21% copper, 4.64% zinc and 1.88% lead from 49m within a broader interval of 17m at 0.81g/t gold, 75.2g/t silver, 0.14% copper, 3.08% zinc and 1.25% lead.

Phase 2 Investigation

The results confirm multiple mineralising events at As Safra, and support the interpretation of a large magmatic-hydrothermal system extending beyond the known copper-gold skarn mineralisation.

The geometry and true width of the new breccia will be investigated during follow-up drilling under an expanded Phase 2 campaign comprising more than 25,000m of reverse circulation and diamond work.

The campaign will aim to expand known mineralised footprints, evaluate extensions to mineralisation along strike and at depth across the broader 5.5 kilometre corridor, and test concealed targets to define relationships between the copper-gold skarn, gold-dominant zones, and polymetallic breccia.

Results from Phase 1 drilling will be combined with magnetic, gravity, and induced polarisation datasets to refine drill targeting and accelerate systematic evaluation of As Safra.

Geological Complexity

Chief executive officer Adam Oehlman said the new discovery at As Safra represented much more than another drill intersection.

“It materially advances our understanding of the As Safra mineral system,” he said.

“We now have evidence that the system evolved through multiple mineralising stages and was capable of producing copper-gold skarn mineralisation, skarn Au-dominant zones, and precious-metal-rich polymetallic breccias.”

“This level of geological complexity is commonly associated with large mineral districts and with only a small proportion of the known mineralised corridor tested, it opens an important new area for follow-up exploration.”