Siren Gold Limited (ASX: SNG) has increased its Global resource estimate to 10.2Mt @3.0g/t Au for 994koz (100% basis) at a 1.5g/t Au cut-off in New Zealand.
Highlights
- The Alexander River Inferred MRE has increased to 1.07Mt @5.0g/t Au for 170koz at a 1.5g/t cut-off.
- Alexander River Resource increase of 30% with grade increasing 22%, based on the inclusion of data from 31 trenches.
- Sams Creek MRE has increased to 9.1Mt @2.8g/t Au for 824koz at a 1.5g/t cut-off.
- Sams Creek Resource now incorporates data from the Bobby Dazzler deposit of 16.7koz @2.6g/t Au.
- Significant exploration potential exists at both Sams Creek and Alexander River for further Resource increases, with deposits open along strike and at depth.
“Siren Gold has advanced a long way in the two years since the IPO. Today’s announcement of a high grade one Moz JORC Global Resource is another major leap forward for the company’s strategy of developing a significant regional gold mining operation at Reefton and Sams Creek in New Zealand,” Managing Director Brian Rodan said.
“Siren has also successfully consolidated our tenement position to ~1,000sq. km with the recent inclusion of the Cumberland Permit. We believe there is potential for a multi-million ounce gold mining operation in Reefton / Sams Creek and we look forward to delivering more Resource updates from ongoing exploration over 2023.”
Siren holds a large, strategic package of tenements in the Reefton, Lyell and Sams Creek Goldfields in the South Island of New Zealand.
The Reefton Goldfield was discovered in 1866 and produced +2Moz of gold at an average recovered grade of 16g/t from 84 historic mines, plus an estimated alluvial gold production of 8Moz. Most underground mining ceased by 1942, with the famous Blackwater mine closing in 1951 when the shaft failed after producing ~740koz of gold down to 710m below surface.
Siren’s key projects include Alexander River, Big River, Auld Creek, Cumberland, Lyell and Sams Creek.
The Sams Creek Gold Project is located 140km NE of Reefton and 100 km NE of Lyell. The Sams Creek Dyke (SCD) is up to 60m thick, can be traced for over 7kms along strike, has a vertical extent of at least 1km and is open at depth. The SCD was not historically mine and was discovered in 1974. Drilling to date has focused on a 1.5km section of the dyke from the SE Traverse to the Main Zone.
The Project comprises two exploration tenements: EP 54454, which is 100% held by Sams Creek Gold Limited (SCGL) a wholly owned subsidiary of Siren, and EP40338, which is 81.9% held by SCGL under a joint-venture agreement with New Zealand’s largest gold miner, OceanaGold Limited (OGL), who own the remaining 18.1% interest.
For further information please visit: https://www.sirengold.com.au/
