Surrey, British Columbia, June 28, 2022, Sierra Grande Minerals (the “Company” or “Sierra”) (CSE: SGRO) (OTCQB: SIERF) (FSE: SRR) ("Sierra" or the "Company") is pleased to announce that it has commenced drone-borne magnetic (drone-mag) surveys at both its B&C Springs (“B&CS”) and Glitra-Sat gold projects in Western Nevada (see Images 1-3). Sierra will also be conducting geological mapping, prospecting and rock and soil geochemical sampling work while on site. The airborne surveys will be conducted by Pioneer Exploration.
The drone-mag surveys at B&CS and Glitra-Sat will cover the entirety of the two properties. Flight lines will be spaced 50m apart and flown on azimuths perpendicular to known and/or interpreted stratigraphic, structural, and mineralized and altered trends (see Images 1-2). Technical details of the surveys, and products thereof, are given below.
The aim of the surveys is to outline altered and mineralized trends on the properties, which may be expressed, for example, as magnetic lows reflecting magnetite destructive alteration within relatively magnetic host rocks. This should prove particularly helpful in areas where mineralized trends appear to continue beneath overburden-covered areas.
At the Glitra-Sat property a number of areas fall into this category, such as along trend both north and south of the Glitra occurrence, and at the Sat occurrence, where a known gold mineralized zone is covered to the east by unconsolidated material of the pediment, and to the south by alluvial deposits in the Stonehouse valley (see Image 2).
On the B&CS property a similar situation exists. There, extensive but generally thin overburden at the head of a broad and gently-sloping pediment obscures a large area between precious metals showings on the B&CS property. On the west and abutting Almadex’s Davis Gold property are recently-sampled showings which yielded a number of high-grade grab samples, including those returning 17.35, 30.9 and 150.5 g/t Au (see Image 1). On the east is the Mildred Mine area, where soil sampling yielded a number of highly anomalous samples (please see News release dated August 31,
2021, and Image 1). The new samples were collected by prospectors earlier this year, following the Company’s recognition of the potential of this area, and after staking program. Furthermore, limited outcrop exposed in drainages lying within the bounds of the wide pediment area between the two gold-mineralized areas on the Company’s claims indicates that the overburden is thin and that alteration is at least locally present along structures within the rocks exposed therein.
Following the drone-mag surveys, the Company expects that follow-up work will be undertaken with an eventual goal to define drill targets along trends showing the greatest potential to host economic mineralization. That work is expected to include ground-based CSAMT (controlled source audio-magnetic telluric) and/or IP (Induced Polarization) geophysical surveys, as well as detailed mapping and sampling.
“As per our 2022 exploration plan, we are very pleased to continue exploration at our gold projects in Nevada. It will be exciting to see the results of these surveys and to plan aggressive follow-up work. With numerous high-tenor soil geochemical targets at both Glitra-Sat and B&C Springs, our expectation is that the airborne magnetic data yields further encouragement that carries us closer to our goal, which is ultimately to drill-test some high-potential targets on both properties” commented CEO, Sonny Janda.
About the Projects
B&C Springs
The B&C Springs property is located in the southern Paradise Range in west-central Nevada, within the Fairplay Mining District. The property abuts Almadex Minerals Ltd.’s Paradise Valley project on its east side (see Image 1).
Recent soil geochemical sampling at B&CS clearly shows that anomalous copper, molybdenum and silver geochemistry is closely associated with a west-northwesterly trending porphyry dike swarm crossing the northern part of the property. The anomalous zone is extensive, running from beyond the previously drilled Mo-Cu-Ag mineralized zone at B&C Springs on the east, to beyond the western boundary of the claim group, a distance of over 4 km. The anomalous values are of high tenor, with a broad zone, nearly a km in width, that has many values exceeding 100 ppm copper, and which range up to 1,200 ppm copper. Elevated Ag, Mo, Au, Hg and Sb are commonly associated with the anomalous copper values, but this latter expression is most evident in a semi-circular “halo” around the northern margins of the greenstone “cap” to the B&C Springs Mo-Cu-Ag mineralized zone.
In the vicinity of the Mildred Mine and toward the southwestern part of the property, where there are numerous historical prospecting pits, adits and shallow shafts, the soil geochemical response for gold and silver confirms the potential of that area for precious metals mineralization. This expression hints at further potential for precious metals to the west beneath the shallow overburden of the pediment area, and that potential was still further reinforced by the results of Sierra’s recent staking-related prospecting program, in which grab samples returned values ranging up to 150.5 g/t gold (see above and Image 1).
Image 1. B&C Springs Plan View with Highlighted Soil Geochem Data and Survey Area
Glitra-Sat
The Glitra/Sat properties are sister properties, with the relatively small “Orbit” property lying between (see Image 2). They 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. The properties are contiguous with Millennial Precious Metals Wildcat Project, which hosts a 43-101 compliant inferred mineral resource of 67.6 million tons grading 0.37 g/t Au totaling 824,000 oz Au, and they lie a few kms north of Timberline Resources Seven Troughs Project (see Image 2).
On the Glitra property, results from a previously completed soil-geochemistry survey identified a promising +1km north-northeast trending mineralized and altered zone with a pronounced epithermal Au-Ag-As-Hg signature and a width ranging up to 150 to 200 metres.
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 reflects structurally-hosted epithermal mineralizing system(s) (see Image 2).
Image 2. Glitra-Sat Plan View with Highlighted Soil Geochem Data and Survey Area
Drone-Mag Survey Technical Details
The drone-mag survey at B&CS will feature 50 metre line spacings along NE-SW azimuths, with a total planned survey of 1,210 line kilometres (see Image 1.).
The drone-mag survey at Glitra-Sat will also feature 50 metre line spacings but along E-W azimuths, with a total planned survey size of 648 line kilometres (see Image 2.).
Data Deliverables for the surveys will include:
➢ Technical Reports
➢ Total Field Magnetics Maps
➢ First Vertical Derivative Map
➢ Analytical Signal Map
➢ Processed, micro-leveled line by line database of the magnetic data
➢ Raw survey data and geodatabase digital files and base station data
➢ 12m and 5m resolution DSM files
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
“Jared Scharf”
Jared Scharf, 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 o ccur 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 ob ligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by appli cable securities legislation.”