Sierra Nevada appoints managing director after $12.3M raise
By Jon CuthbertKey points
- Sierra Nevada Gold named CEO Adam Oehlman as managing director effective immediately.
- The move follows a $12.3 million placement and the launch of a 25,000-metre drilling programme.
- The company is accelerating exploration at its As Safra copper-gold project using five drill rigs.
Sierra Nevada Gold (ASX:SNX) appointed CEO Adam Oehlman as managing director following the completion of a $12.3 million share placement.
Oehlman joined the company as CEO on June 11 after previously leading African Gold through a transaction valued at over $550 million.
"Already he has achieved several important milestones since joining the management team, and with our exploration at As Safra now accelerating in Phase 2, we are pleased to welcome him to the board as our Managing Director," said Sierra Nevada Gold Chairman Simon Lill.
The company stated that the Phase 2 programme at As Safra includes 25,000m of drilling alongside approximately 13.5km of trenching.
Following the announcement, the Sierra Nevada Gold share price was unchanged at $0.077.
The current exploration campaign follows Phase 1 drilling that confirmed a copper system across an 800-metre central zone in Saudi Arabia.
The company stated that a wider 5.5-kilometre corridor remains largely untested while five drill rigs continue operating on site.
