
- WORLD EDITIONAustraliaNorth AmericaWorld
October 14, 2024
Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on the Lyell tenement, located within the Reefton Project.
Highlights
- New rock chip samples from the Victory United Reef at Lyell include: 127g/t Au, 123g/t Au, 114 g/t Au, 47g/t Au. 13.4 g/t Au. 10.7g/t Au and 8.3g/t Au, averaging 63g/t Au.
- The reef contains significant visible gold with coarse (+75 micron) gold ranging from 43% to 13%, with an average of 28% in the screen fired samples
- Previous results at Lyell from trenching and surface sampling include:
- 7m @ 13.8g/t Au (LYTR001) (ASX release 14 October 2022)
- 8m @ 6.3g/t Au (LYTR002) (ASX release 14 October 2022)
- 3.0m @ 19.1g/t Au (LYTR009) (ASX release 8 March 2023)
- 1.1m @ 36g/t Au (LYTR008) (ASX release 8 March 2023)
Siren Managing Director and CEO, Victor Rajasooriar commented:
“Lyell has the potential to be the jewel in the Reefton Project crown with the recent rock chips samples from the Victory United Reef showing immense potential and warranting a drilling program to unlock the value. Our geological team are looking forward to drilling once all approvals are in place and replicating the surface rock chips and trenching data gathered to date. The recently received unsolicited, non-binding, indicative offer from Federation Mining Pty Ltd certainly highlights the significance of the Siren tenement package within the Reefton Goldfields.”
Victory United Reef
The Victory United Reef is located at the northern end of the 5km long mineralised system that includes the historic Alpine United mine that produced 80koz @ 17 g/t Au. An outcrop of the Victory United Reef was discovered in October 2022 when a flood removed gravel and exposed the bedrock (refer announcement dated 8 March 2023). The mineralised zone comprised a 0.5m quartz reef surrounded by approximately 2m of disseminated arsenopyrite rich mineralisation. The quartz reef contained significant visible gold with a float sample several metres from the outcrop assay 205g/t Au (Figure 1). Channel samples of the reef (Figure 2) ranged from 15g/t Au to 70g/t Au and disseminated arsenopyrite mineralisation ranged from 1.4g/t Au to 42g/t Au (see announcement dated 8 March 2023).
Figure 1. Victory United Reef float sample.
Figure 2. Victory United Reef -Trench LYTR005.
Resampling of the quartz reef outcrop was completed in August 2024 with seven samples collected (Figure 3). The samples assayed 127g/t Au, 123g/t Au, 114 g/t Au, 47g/t Au. 13.4 g/t Au. 10.7g/t Au and 8.3g/t Au, averaging 63g/t
Click here for the full ASX Release
This article includes content from Siren Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
SNG:AU
The Conversation (0)
18 March 2024
Siren Gold
Exploring Highly Prospective Gold Assets in A Historic New Zealand Mining District
3h
Tudor Gold Sues BC, Seabridge Over Tunnel Rights in Golden Triangle
An ongoing land-use dispute in British Columbia’s mineral-rich Golden Triangle has escalated into a full-blown legal battle as Tudor Gold (TSXV:TUD,OTC Pink:TDRRF)takes the province and rival Seabridge Gold (TSX:SEA,NYSE:SA) to court over tunneling rights linked to one of Canada’s largest... Keep Reading...
5h
Predictive Discovery and Robex Merge, Combining West African Gold Projects
Australia-based Predictive Discovery (ASX:PDI) and Canadian company Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) have agreed on a merger of equals, creating West Africa’s new mid-tier gold producer.In a joint announcement, the companies said that Predictive Discovery will indirectly acquire... Keep Reading...
21h
Gold Price Breaches US$4,000, Silver Tests US$50
Gold marked a new price milestone on Wednesday (October 8), breaking US$4,000 per ounce. The spot price hit a fresh record, rising as high as US$4,056.14 in midday trading. Future prices for gold breached US$4,000 for the first time on Tuesday (October 7) and have continued to climb higher.The... Keep Reading...
08 October
What Was the Highest Price for Gold?
Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
08 October
A Guide to Investing in Physical Gold
Gold is known as an attractive safe-haven investment and has been used to store wealth during volatile times through history. It has interesting currency-like tendencies, and retains its purchasing power better than paper currencies.For that reason, gold market analysts typically recommend that... Keep Reading...
08 October
Earthwise Minerals Extends Private Placement
Earthwise Minerals Corp. (CSE:WISE)(FSE:966) ("Earthwise" or the "Company") announces that it will extend the terms of the private placement previously announced August 13, 2025. Earthwise intends to complete a non-brokered private placement financing (the "Offering") of up to 7,500,000 flow... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00