Siren Gold

Drilling Recommences at Auld Creek

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Auld Creek Prospect.


Highlights

  • The Auld Creek Mineral Resource Estimate (MRE) to date is 66koz @ 3.5g/t Au, 8,700t @ 1.5% Sb for 132koz @ 7.1g/t AuEq but has been estimated for the Fraternal Shoot only to 150m and is open at depth.
  • Drilling at Auld Creek recommenced this week with holes initially targeting the Bonanza East Shoot following outstanding results from the 2023 drilling i.e. 5m @ 4.1g/t Au, 7.0% Sb for 20.6g/t AuEq from 78.3m.
  • The Bonanza and Fraternal North Shoots have not been drilled and will also be targeted in this campaign. At the conclusion of this drilling program all four shoots will have been drill tested.
  • A second phase of drilling will then target down plunge extensions to the mineralisation. All four Auld Creek shoots are open at depth and have potential to significantly increase the Auld Creek MRE.
Executive Chairman Brian Rodan commented:

“Siren continues to advance our Reefton and Sams Creek projects on the South Island of New Zealand. With funds provided by the recent $2.2m capital raise, drilling has recommenced at Auld Creek at Reefton following up previous intersections of 5m @ 4.1g/t Au, 7.0% Sb for 20.6g/t AuEq. The ongoing drilling at Auld creek is expected to add significantly to the understanding of the mineralisation and will be used to update the Auld Creek Inferred MRE which currently stands at 66koz at 3.5g/t Au and 8.7kt at 1.5% Sb for 132koz of AuEq at 7.1g/t AuEq. Siren’s Reefton MRE stands at 444koz of gold and 8.7kt of Sb for 511koz @ 4.4 g/t AuEq, which increased by 342koz during 2023.

Planning is also underway to recommence drilling at Sams Creek to test the Anvil Zone where Siren recently identified a significant new drill target (see Announcement dated 22 January 2024). The Sams Creek porphyry dyke extends over 7kms long, is up to 60m thick, and extends down dip for at least 1km and includes the company’s Main Zone MRE of 824,000 @ 2.8g/t Au.

There are currently a number of proposed changes to the permitting regime that have been introduced by New Zealand’s recently elected government through a Fast Track Approvals Bill for accelerated development of major projects. This is a positive step forwards for mining projects in New Zealand and can only be good news for Siren shareholders as we progress our exploration programmes at Reefton and Sams Creek”.


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)
Gold bar with charts, "Weekly Editor's Picks" text overlay.

Editor's Picks: Gold Tariff Threat Ends, Price Reacts to Fresh Inflation Data

The gold price cooled off this week as tariff-related uncertainty reached a resolution.

The yellow metal was thrust into headlines late last week when US Customs and Border Protection told a Swiss refiner that 1 kilogram and 100 ounce gold bars would be subject to Trump administration tariffs that went into effect on August 7.

Gold is one of Switzerland's top exports to the US, and with the country facing a 39 percent levy, questions were rife about what the impact could be. Clarification came on Monday (August 11), when US President Donald Trump said on Truth Social that gold "will not be tariffed."

Keep reading...Show less
Hand stacking gold coins next to gold bars on a reflective surface.

OPINION — Goldenomics 103: Gold Protects and Performs

This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Keep reading...Show less
Horn Island Mining Lease Application Registered

Horn Island Mining Lease Application Registered

Alice Queen (AQX:AU) has announced HORN ISLAND MINING LEASE APPLICATION REGISTERED

Download the PDF here.

Brien Lundin, gold bars.

Brien Lundin: Gold at New US$3,000 Floor, Silver Supply Crunch Coming

Brien Lundin, editor of Gold Newsletter, shares his thoughts on gold and silver prices, as well as what types of stocks he's focusing on in these sectors.

In his view, the precious metals are set up for a new era.

Keep reading...Show less
Gold bars with financial chart overlay, showcasing market trends.

Gold Majors Ride Price Surge to Strong Q2 Earnings

The world’s top gold producers delivered a string of robust second-quarter results, buoyed by record prices and resilient operations as investors continue to seek refuge in the yellow metal amid growing economic uncertainty.

With spot gold trading above US$3,400 per troy ounce, just shy of its April all-time high of US$3,448.50, the world’s largest gold producers posted higher earnings and stronger cash flow in their recent Q2 results.

Below is a breakdown of how a few major players fared in Q2.

Keep reading...Show less

Latest Press Releases

Related News

×