Siren Gold Inks Marketing & Sales Agency Agreement With Ocean Partners USA

New Zealand explorer (ASX: SNG) is thinking big, inking a marketing and sale agreement for the sale of yet-to-be-produced gold-antimony concentrate produced from its Reefton Project.

The project is in the upper South Island of New Zealand.

Reefton has an inferred resource of 444,200 ounces grading 3.8g/t gold with 8,700 tonnes at 1.5% antimony.

Ocean Partners USA, Inc. has been mandated to seek a long-term third-party off-take agreement for a gold-antimony concentrate product that includes debt or equity financing for the project up to US$5 million.

This agreement provides a pathway for Siren to fast-track the project into production and produce gold doré and gold-antimony concentrate from a central processing facility.

About Reefton Goldfield

Reefton is a large historic New Zealand goldfield with previous gold production totaling 11 million ounces from alluvial, open cut, and 85 historic underground mines.

There are 18 mines within 20 kilometres of Auld Creek.

The Reefton Goldfield 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 had ceased by 1942.

Siren has a large 821km2 tenement package across the Reefton Goldfield.

Canadian-listed Rua Gold (CSE: RUA) is a neighbour currently resource drilling.

Siren’s projects and resources consist of 6 high-grade gold projects.

Processing

A processing hub is to be centred around Auld Creek to feed various underground mines as they come online.

The tenement holdings are near sealed roads in place with hydropower readily available.

Westport is easily accessible for future concentrate shipments.

About Antimony

Antimony has been recognised as a critical mineral by many Western countries and the potential gold–antimony concentrate from the Reefton Project is likely to be in demand.

Antimony is extracted from Stibnite and occurs in association with gold.

The mineral is critical to the world production of solar panels, wind turbines, EVs, energy storage batteries & armaments.

Antimony is an element in lithium-ion batteries and the next generation of liquid metal batteries.

China and Russia produce approximately 85% of current world production, and Australia produces just 2%.

Sam’s Creek

Siren also has the Sams Creek project joint venture with Siren holding 81.9% and Oceana Gold at 18.1%.

The project is a large porphyry gold deposit with significant potential which is 7km long x 50m wide & open at depth.

The current resource base is 824,000 ounces of gold grading 2.83 g/t.

In a nutshell

The total resource base for Siren is 1.27 million ounces at 3.1g/t gold with 8.7kt at 1.5% Antimony and likely to grow with additional drilling.

The resources was achieved by Siren in less than three years.

Drilling is underway at both Reefton and Sams Creek.

Siren had cash on hand of 2.3 million on 31 March 2024.

 

 

 

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