Significant New Drill Target Identified at Sams Creek

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

Highlights

• Sams Creek is an intrusion-related gold deposit (IRGD) with mineralisation contained within a porphyry dyke.
• The Sams Creek porphyry dyke is over 7kms long, up to 60m thick, and extends down dip for at least 1km. Only 15% of the Sam’s Creek porphyry dyke has been drilled to date.
• An Ionic Leach soil survey recently carried out has identified a second major Au-As-Mo anomaly at Anvil, similar to the Main Zone anomaly which contains a Mineral Resource Estimate (MRE) of 824koz at 2.8g/t Au*.
• The Anvil anomaly extends for at least 1km from the mineralised outcrop with significant rock chips recording up to 57g/t Au.
• The Anvil anomaly might represent a NE plunging mineralised fold hinge similar to the Main Zone located 1km to the east.
• The orientation ionic leach soil survey detected known mineralisation 500m below the surface at Main Zone.
• Copper-Lead and Rare Earth Elements (REE) were also detected, and the multi-element responses indicate potential for a large multi-metal, multi-phase mineral system at Sams Creek.

Executive Chairman Brian Rodan commented:

“These results continue to demonstrate the significant potential for a multi-million-ounce project at Sams Creek. Ionic leach soil surveys have proven to be a strong indicator for economic gold mineralisation at Sams Creek. The Anvil anomaly has many characteristics to the Main Zone at Sams Creek, which hosts the high grade 824koz Resource. We believe we have only scratched the surface at Sams Creek.”

Background

The Sams Creek Gold Project is located 140kms NE of Reefton and 100kms NE of Lyell (Figure 1). The Project comprises two exploration tenements: EP 54454, which is 100% held by Sams Creek Gold Limited (SCGL), a wholly owned subsidiary of Siren, and EP40338, which is 81.9% held by SCGL under a joint-venture agreement with New Zealand’s largest gold miner, OceanaGold Limited (OGL), who own the remaining 18.1% interest.

* Comprised of an Indicted Resource of 3.29 Mt at 2.9 g/t Au for 295.6koz and an Inferred Resource of 5.81 Mt at 2.83 g/t Au for 528.8koz.

Western New Zealand was originally part of Gondwana and lay adjacent to eastern Australia until around 80 Ma ago1. The NW of the South Island of New Zealand comprises an area of predominantly early Palaeozoic rocks in broad northerly trending belts which terminate at the Alpine Fault (Figure 1). The Palaeozoic sequence is divided into the Buller Terrane, Takaka Central and Takaka Eastern Belts. These belts are interpreted to correspond with the Western, Central and Eastern belts of the Lachlan Fold Belt1. The Buller and Western Lachlan belts contain the orogenic gold deposits like Bendigo, Ballarat and Fosterville in Australia and the Reefton and Lyell Goldfields in New Zealand.

The mineralisation is contained within a hydrothermally altered peralkaline granite porphyry dyke2 that intrudes the Early Palaeozoic metasediments. The Sams Creek dyke (SCD) is located in the Eastern Takaka Terrane, which is equivalent to the Eastern Lachlan belt that hosts porphyry copper-gold deposits like Cadia and Ridgeway.

The SCD is up to 60m thick and can be traced E-W for over 7kms along strike (Figure 2). The SCD generally dips steeply to the north (~600), with gold mineralisation extending down dip for at least 1km and it is open at depth.

The SCD has been divided into a number of exploration prospects including Riordans, Western Outcrops, Doyles, SE Traverse, Carapace, Main Zone, Anvil and Barrons Flat. The dyke generally dips steeply to the north but dips more shallowly to the NW and SE between the Carapace and Western Outcrops where it intrudes argillite (Figure 2).

The geological and geochemical characteristics of the SCD indicate it is a member of the intrusion- related gold deposits (IRGDs). Globally, there are many examples of IRGDs containing multi-million- ounce resources, including Pogo (5Moz), Donlin Creek (10Moz) and Fort Knox (7Moz) in Alaska, Kidston (4Moz), Cadia (15Moz) in Australia and Vasilkovskoe (10Moz) in Kazakhstan (Lang & Baker 2001)3.

The Sams Creek porphyry dyke can best be described as a distal deposit (Figure 3) located in the host sediments outside the contact aureole of the source intrusion. These deposits typically have an Au-As- Sb-Hg Zn-Pb-Ag mineral association and may lie over 1km from the source (Figure 3). At structurally higher levels (500mRL to 800mRL) the SCD contains considerably more silver (up 90g/t) with Ag:Au ratios in the order of 30:1, whilst at lower levels (-200mRL to 500mRL) gold dominates silver, with ratios around 0.3:1. Base metals (Cu, Pb, and Zn) also increase at these lower levels. This may reflect increasing proximity to the source intrusion with the top of the dyke showing signs of epithermal style mineralisation.

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