Extensive Copper Trend Highlights Potential for New Discovery at Sierra’s B&C Springs-Mildred Property; West-Central Nevada

2021-10-06 05:31:18

Copper-in-soil values up to 1190 ppm

SURREY, BC, Oct. 6, 2021 /CNW/ – Sierra Grande Minerals. (the “Company” or “Sierra“) (CSE: SGRO) (OTCQB: SIERF) (FSE: SRR) is pleased to announce that it has received the results for its previously announced soil geochemical programs at its B&C Springs-Mildred prospects (B&CS-M) in west-central Nevada (see Figure 1). The B&C Springs property and the adjacent Mildred claims and Mildred Mine to the southwest are located in the southern Paradise Range, in the Fairplay Mining District, not far east of the Paradise Peak open pit gold mine. Previous exploration at B&C Springs was focused to varying degrees on copper-molybdenum-bearing base and precious metals-bearing skarn and vein occurrences associated with intrusions of the Buzzard Peak stock that were emplaced into stratified rocks, primarily of the Luning formation. At Mildred, the previous focus was more on precious metals.

Highlighted Results at B&C Springs-Mildred

A total of 544 soil geochemical samples were collected from the B&C Springs-Mildred property (see Figures 2-4 ). The results of the soil geochemical sampling clearly show that the anomalous copper (see Figure 2), molybdenum (figure 3) and silver (see Figure 4) geochemistry at B&C Springs 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, with many values exceeding 100 ppm copper, and ranging up to 1200 ppm copper. Elevated Ag, Mo, Au, Hg and Sb are commonly associated with the anomalous copper values, but this 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 (see Figures 2-5). Additional claims were staked by Sierra along this trend, increasing the size of the B&C Springs-Mildred package to 4,607 acres.

In the vicinity of the Mildred Mine and toward the southwestern part of the property, where there are numerous historical prospect pits, adits and shallow shafts, the soil geochemical response for gold and silver confirms the potential of that area for precious metals mineralization. It also hints at further potential, to the west beneath the shallow overburden of the pediment area (see Figures 4 and 5).

Program Summary

A total of 1,805 soil geochemical samples were collected at the Company’s four west-central Nevada properties, Glitra, Sat, Betty East, and B&C Springs-Mildred, which are located in the northern part of the Walker Lane trend.  The aim of the recently completed work 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 all of the properties were given in the Company’s news release dated April 13, 2021.

Sierra’s President and CEO Sonny Janda commented “Once again the results of our soil geochemical sampling confirm the existence of mineralized structures on our properties. The potential appears high for an intrusive-related system along the B&C Springs trend. We are looking forward to evaluating this part of the property in the coming months, as well as to investigating gold-bearing zones on the Mildred Mine part of the property.”

Next Steps for B&C Springs-Mildred

The expanded B&C Springs-Mildred property will soon be the focus for an airborne magnetometer survey, with the aim that the survey will help the context and focus for prospecting, geological mapping and further follow-up soil geochemical surveys, along with potential ground geophysical surveys (Induced Polarization and(or) CSAMT surveys). Further extension of the Company’s claim-holdings is also being considered, particularly to the west.

Figure 1. Regional Setting for the B&C Springs-Mildred property

Figure 2. Copper-in-soil results for the B&C Springs-Mildred property.Figure 2. Copper-in-soil results for the B&C Springs-Mildred property. (CNW Group/Sierra Grande Minerals Inc.)

Figure 3. Molybdenum-in-soil results for the B&C Springs-Mildred property.Figure 3. Molybdenum-in-soil results for the B&C Springs-Mildred property. (CNW Group/Sierra Grande Minerals Inc.)

Figure 4. Silver-in-soil results for the B&C Springs-Mildred property.Figure 4. Silver-in-soil results for the B&C Springs-Mildred property. (CNW Group/Sierra Grande Minerals Inc.)

Figure 5. Gold-in-soil results for the B&C Springs-Mildred property.Figure 5. Gold-in-soil results for the B&C Springs-Mildred property. (CNW Group/Sierra Grande Minerals Inc.)

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 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.”

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