Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide the following summary of its activities for the three months ended 30 June 2023.
Highlights
- Global Resource increased to 1.2Moz at 3.1g/t Au (100% basis) at a 1.5g/t cut-off.
- Maiden Inferred Resource at Supreme of 103koz at 2.7g/t Au at a 1.5g/t cut-off.
- Drilling commenced at Auld Creek with the following intersections.
- ACDDH004 intersected 20.6m @ 5.9g/t Au, 2.6% Sb or 20.6m @ 12.0g/t AuEq, including 4.6m @ 10.7g/t Au, 3.9% Sb or 4.6m @ 19.9g/t AuEq.
- ACDDH005 intersected 17.9m @ 2.3g/t Au, 0.1% Sb or 17.9m @ 2.6g/t AuEq.
- ACDDH007 intersected 26.5m @ 2.7g/t Au, 0.07% Sb or 26.5m @ 2.9g/t AuEq.
- An Auld Creek Exploration Target model was completed for the Fraternal Shoot based on trench and drilling results to date. An Exploration Target of 55koz to 65koz gold, 7,500 to 8,500t of antimony for 115koz to 130koz gold equivalent down to 90m below surface has been estimated.
- Three additional trenches, at the northern and southern ends of the 1km long Mt Lyell North mineralised zone, all returned significant mineralisation; 2.4m @ 3.2g/t Au, 2m @ 3.1g/t Au and 1m @ 6.0g/t Au.
- The Langdons prospecting permit was granted for a 2-year period on 25 May 2023.
- A trial Ionic Leach soil survey detected the Sams Creek mineralisation over 500m below the surface. This survey will now be extended along the length of the Sams Creek Dyke and over the magnetic anomaly to define the sub-surface mineralisation that can be targeted by drilling.
Siren is a New Zealand focussed gold explorer, with two key projects in the upper South Island: Reefton (Reefton and Lyell goldfields) and Sams Creek (Figure 1).
Western New Zealand was originally part of Gondwana and lay adjacent to eastern Australia until around 80 Ma ago. The NW of the South Island of New Zealand comprises an area of predominantly early Paleozoic rocks in broad northerly trending belts which terminate at the Alpine Fault (Figure 1). The Paleozoic sequence is divided into the Buller Terrane, Takaka Central and Takaka Eastern Belts.
These belts are interpreted to correspond with the Western, Central and Eastern belts of the Lachlan Fold Belt. The Buller and Western Lachlan belts contain orogenic gold deposits like Bendigo, Ballarat and Fosterville in Australia and the Reefton and Lyell Goldfields in New Zealand. The Eastern Takaka and Eastern Lachlan belts host porphyry-Au and porphyry copper-gold deposits, like Cadia and Ridgeway, respectively.
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