Siren Gold (ASX:SNG)

Sams Creek and Reefton Exploration Update

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Sams Creek and Reefton Projects.


Highlights

Sams Creek Gold Project

  • Results received for the last two of four “scouting” holes drilled at the Anvil Zone.
    • SCDDH107 intersected 22m @ 1g/t Au with higher grade intervals of 2m @ 2.91g/t from 141m and 1.2m @ 8.3g/t from 161m on the hanging wall and footwall respectively.
    • SCDDH106 intersected a 35.4m thick dyke which was extensively altered. A 4m section in the centre of the dyke returned 4m @ 1.32g/t Au from 124m.
  • An Ionic Leach (IL) soil survey identified a number of targets both around and inside two large circular structures.
  • The circular structure anomalies have been divided into five dyke and six porphyry targets.
  • The dyke targets have an Au-As signature, and the porphyry targets have an Au-Cu-REE signature.
  • The IL survey has now been extended beyond the boundaries of the circular structures so potential mineralisation can be fully evaluated. Results are expected in August.

Reefton Gold Antimony Project

  • Four additional diamond holes were drilled in the Auld Creek’s Bonanza East Shoot following the exceptional intersection in ACDDH011, which intersected an estimated true thickness of 3m @ 4.1g/t Au and 7% Sb.
  • ACDDH015 and ACDDH016 were drilled 50m to the north and intersected true widths of 6m @ 5.3g/t Au, 14.9% Sb and 10m @ 7.2g/t Au, 0.3% Sb.
  • ACDDH020 and ACDDH021 were drilled a further 100m to the north and intersected the footwall of the shoot, indicating that the Bonanza East Shoot plunges to the south parallel to the Fraternal Shoot.
  • The Bonanza East maiden MRE and an update on the Fraternal MRE will be completed in August.

Siren Managing Director and CEO, Victor Rajasooriar commented:

“The drilling results from the recent scouting holes targeting the Anvil prospect have confirmed similar alternation to the Main Zone, which hosts the 824koz @ 2.8g/t Au Resource. Additionally, the knowledge base of the geology at Sams Creek is growing with the expanded Ionic Leach survey cross referenced with the Lidar topography analysis, with results expected in August. This should give us additional information to more accurately target the potential Gold-Copper porphyry targets and commence a diamond drilling program later this year at Sams Creek.

In addition, the drilling results from Auld Creek have returned some strong results and we look forward to updating the Resource in August.”


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)
Siren Gold (ASX:SNG)

Siren Gold


Keep reading...Show less

Exploring Highly Prospective Gold Assets in A Historic New Zealand Mining District

Chen Lin, silver bars.

Chen Lin: Gold, Silver Prices Breaking Out, My Stock Strategy Now

Chen Lin of Lin Asset Management discusses what's behind gold's latest price move.

"Recently the stock in China's gold futures market just went parabolic — that actually preceded the recent gold breakout ... both had been rangebound for a long, long time, and then suddenly started breaking out two weeks ago," the expert explained.

Keep reading...Show less
Red pushpin marking Queensland on a detailed map of Australia.

Newmont Withdraws from Mount Coolon Joint Venture, GBM Regains Full Ownership

GBM Resources (ASX:GBZ) announced it has regained ownership of the Mount Coolon gold project in Queensland following Newmont’s (TSX:NEM,NYSE:NEM,ASX:NEM) termination of a 2022 farm-in agreement.

GBM made the deal with Newcrest Mining before that company was acquired by Newmont in 2023.

Newmont's withdrawal is part of its focus on divesting non-core assets to hone in on its more profitable and stable tier one operations. The company has made substantial adjustments to its portfolio this year.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

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 pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Keep reading...Show less

Latest Press Releases

Related News