Siren Gold Surpasses Expectations with Latest Broad High-Grade Gold Intersections at Reefton Project

Siren Gold Ltd (ASX: SNG) remains on an outstanding gold streak at the Reefton Project in New Zealand.

The second diamond hole at the Auld Creek target intersected 22.2 metres at 7.2g/t gold and 0.3% antimony from 67 metres, with an estimated true width of 10 metres.

This follows on from the first hole delivering 12.4 metres at 5.3g/t gold and 14.9% antimony from 70 metres, with an estimated true width of 6 metres.

Exploration results will continue to flow as eight diamond holes have been drilled in the Bonanza East Fault, with all holes intersecting significant gold or gold and antimony mineralisation.

The company still seems lightly capped at around $13 million, with $2.3 million in cash at the end of March 2024.

Resource building

These results compliment previous drilling at Auld Creek that focused on the Fraternal Shoot, again with eight diamond holes.

This defined an inferred resource of 66,000 ounces at 3.5g/t gold and 8.7kt at 1.5% antimony.

At Reefton the total inferred resource is 444,000 ounces at 3.8 g/t gold and 8.7kt at 1.5% antimony.

Adding in Sams Creek, Siren’s global resource estimate swells to 1.27 million gold ounces and 8.7kt of antimony.

High-grade location

Auld Creek is contained within Siren’s Golden Point exploration permit and is strategically located.

This is between the highly productive Globe Progress mine, which historically produced 418,000 ounces at 12.2 g/t gold, and the Crushington group of mines that produced 515,000 ounces at 16.3 g/t gold.

More recently OceanaGold Ltd mined an open pit and extracted an additional 600,000 gold ounces from lower grade remnant mineralisation around the historic Globe Progress mine.

Exceed expectations

Victor Rajasooriar, managing director, commented on today’s results:

“Drilling at Siren’s Auld Creek target within the Reefton Project continues to exceed geological interpretations with higher widths and grades than initially expected.”

Results from the current drilling programs are expected to increase the resource at Auld Creek.

 

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