The Conversation (0)
May 06, 2024
Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its latest drilling program at Auld Creek, located within the Reefton Project.
Highlights
- ACDDH016, the second diamond hole drilled in 2024, intersected the Bonanza East Shoot with a downhole intersection of 22.2m @ 7.2g/t Au and 0.3% Sb from 67m, with an estimated true width of 10m.
- ACDDH016 follows on from the first hole ACDDH015 that intersected 12.4m @ 5.3g/t Au and 14.9% Sb with an estimated true width of 6m.
- To date eight diamond holes have been drilled in the Bonanza East Fault, with all holes intersecting significant gold or gold and antimony mineralisation.
- These results compliment previous drilling at Auld Creek that focused on the Fraternal Shoot, with 8 diamond drillholes defining an inferred Mineral Resource Estimate (MRE) of 66koz @ 3.5g/t gold and 8.7kt @ 1.5% antimony. Siren’s Reefton inferred MRE is 444koz @ 3.8 g/t Au and 8.7kt @ 1.5% antimony.
Siren Managing Director and CEO, Victor Rajasooriar commented:
“Drilling at Siren’s Auld Creek target within the Reefton Project continues to exceed geological interpretations with higher widths and grades than initially expected. The current MRE from Auld Creek is defined solely from the initial fraternal shoot drilling. Over the coming months we expect the results from the recent drilling targeting the Fraternal & Bonanza Shoots to add significantly to the Auld Creek MRE and consequently Siren’s Global MRE which currently stands at ~1.27Moz at 3.1 g/t Au and 8.7kt Sb @ 1.5%”.1
Background
In 2024, Siren’s strategy at Auld Creek is to drill test all four mineralised shoots (Fraternal, Fraternal North, Bonanza and Bonanza East) identified from soil sampling, surface trenching and diamond drilling carried out over the past 12 months.
The Fraternal and Bonanza west dipping mineralised faults are interpreted to be sub-parallel approximately 100m apart (Figure 1). On the Fraternal Fault at least two mineralised shoots have been identified: Fraternal and Fraternal North, which are interpreted to plunge moderately to the south.
The Bonanza East Fault dips to the east and links between the Fraternal and Bonanza Faults. Diamond drilling by Siren in 2023 confirmed the continuance of the Bonanza East Shoot that was intersected in surface trenches, with ACDDH011 intersecting 5m @ 4.1g/t Au and 7.0% Sb 80m below the surface. The Bonanza East Shoot is interpreted to plunge to the north, with the top and bottom limits constrained by the intersection with the Fraternal and Bonanza mineralisation.
Siren plans to target the Bonanza East, Bonanza and Fraternal North Shoots with the initial drilling over the next few months, with all four shoots having then been tested to around 100m below surface. The second phase of drilling will then target down plunge extensions to the mineralisation.
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.
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The operation has been producing since 2015, though the incident occurred in a non-producing development zone.
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Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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