Sierra Nevada Gold (ASX: SNX) has appointed Adam Oehlman as CEO to lead its next growth phase, focusing on advancing a three-rig drilling campaign in Saudi Arabia and trial mining in Nevada.
- Adam Oehlman appointed CEO with mining and M&A expertise
- Three-rig drilling program underway at As Safra Copper-Gold Project
- Trial mining activities progressing at New Pass Mine in Nevada
- Executive Director Peter Moore to support leadership transition
- Long-term incentives tied to project milestones and share price
New CEO with proven resource growth and M&A background
Sierra Nevada Gold Limited (ASX:SNX) has brought in Adam Oehlman as Chief Executive Officer, effective 11 June 2026, as it gears up for a more active operational and corporate phase. Oehlman arrives with a strong pedigree, having recently steered African Gold Limited through a resource expansion and a corporate transaction valued over A$550 million. His technical, commercial, and capital markets experience spans senior roles at Northern Star Resources, OZ Minerals, and Hancock Prospecting, equipping him to lead SNX’s ambitious growth plans.
Accelerating drilling at As Safra copper-gold project in Saudi Arabia
SNX is currently running a three-rig Phase 1 drilling program at its 100%-owned As Safra Copper-Gold Project in Saudi Arabia. The program targets high-priority copper-gold zones identified from recent geochemical and geophysical surveys, including extensions to known mineralisation. This follows historical intercepts such as 24.55 metres at 1.69% copper and 5.0 metres at 4.07% copper, alongside surface sampling confirming high-grade mineralisation across multiple zones. The project benefits from strong government backing aligned with Saudi Vision 2030, and assay results from this drilling are expected soon, setting the stage for further exploration planning. SNX’s ongoing efforts in Saudi Arabia are supported by a growing local operational platform.
three drill rigs active immediately
Trial mining and commercialisation focus in Nevada
Parallel to its Saudi Arabian activities, SNX is progressing trial mining at its New Pass Mine in Nevada. Underground refurbishment has commenced, targeting the Superior Vein, with metallurgical testing yielding up to 97% gold extraction using conventional gravity and cyanide leach methods. These promising results support near-term development plans and potential cash flow generation. SNX is also reviewing broader commercialisation pathways across its US portfolio, aiming to unlock additional value from these assets.
underground refurbishment underway
Leadership transition and incentive alignment
Executive Director Peter Moore will continue to support the leadership transition and oversee the execution of the Saudi Arabian and Nevada programs, ensuring continuity as Oehlman steps in. The new CEO’s remuneration package includes a base salary of $300,000 plus discretionary short-term incentives linked to Board-approved KPIs. Long-term incentives are heavily weighted towards performance milestones, including share awards contingent on share price targets and material project developments in Saudi Arabia and Nevada. This structure aligns executive rewards with operational progress and shareholder value creation.
Strategic implications and next steps
Oehlman’s appointment signals SNX’s commitment to scaling up its exploration and development activities with a sharper focus on operational execution, strategic prioritisation, and market engagement. The near-term catalysts include assay results from the As Safra drilling campaign and progress updates on trial mining at New Pass. How effectively SNX leverages Oehlman’s experience to translate exploration success into commercial outcomes will be critical in defining the company’s trajectory through this active growth phase.
Bottom Line?
SNX’s leadership upgrade and active drilling and mining programs set a platform for tangible progress, but delivery on assay results and commercial milestones will be key to sustaining momentum.
Questions in the middle?
- Will assay results from As Safra confirm extensions to high-grade copper-gold mineralisation?
- How quickly can trial mining at New Pass transition to commercial production?
- What new opportunities might SNX pursue to unlock value across its broader US portfolio?