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Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide a maidenMineral Resource Estimate for the Auld Creek Prospect.
Highlights
- A maiden Mineral Resource Estimate (MRE) of 132koz @ 7.1g/t AuEq containing 66koz @ 3.5g/t Au & 8,700t of antimony @ 1.5% Sb.
- The MRE comprises the Fraternal Shoot only and is based on existing surface trenches and drillholes and extends to approximately 170m below the surface.
- The Fraternal Shoot remains open at depth and there are three other shoots identified at Auld Creek (Fraternal North, Bonanza and Bonanza East Shoots).
- The MRE includes the following significant intersections;
- 35.0m @ 4.1g/t Au, 2.9% Sb or 35.0m @ 11.0g/t AuEq,
- 6.0m @ 4.1g/t Au, 4.1% Sb or 6.0m @ 13.8g/t AuEq,
- 34.0m @ 1.6g/t Au, 0.7% Sb or 34.0.0m @ 3.3g/t AuEq, and
- 20.7m @ 5.9g/t Au, 2.6% Sb or 20.7m @ 12.0g/t AuEq.
- Siren’s Reefton Mineral Resource estimate now stands at 444koz of gold and 8.7kt of Sb for 511koz @ 4.4 g/t AuEq.
- Siren’s Global Mineral Resource estimate now stands at 1.27Moz of gold and 8.7kt of Sb for 1.33Moz @ 3.3 g/t AuEq (100% basis).
Executive Chairman Brian Rodan commented:
“The Auld Creek Resource is the fourth high grade Resource defined at Reefton with all Resources remaining open along strike and at depth. The Auld Creek deposit is the first with high grade antimony which is a critical mineral in the global transition to clean energy. Siren’s vision is to be a multiple million-ounce high grade gold and antimony producer and with a global MRE now above 1.3Moz, we are well on track with this vision.”
Table 1. Siren’s Reefton Mineral Resource Estimate.
*Based on gold equivalent formula of AuEq = Au g/t + 2.36 x Sb% using a gold price of US$1,750/oz & antimony price of US$13,000 per tonne.
Table 2. Siren’s Global Mineral Resource Estimate.
*Based on gold equivalent formula of AuEq = Au g/t + 2.36 x Sb% using a gold price of US$1,750/oz & antimony price of US$13,000 per tonne.
1Siren owns 81.2% of the Sams Creek Project.
Background
The Auld Creek Prospect is contained within Siren’s Golden Point exploration permit and is situated between the highly productive Globe Progress mine, which historically produced 418koz @ 12.2g/t Au, and the Crushington group of mines that produced 515koz @ 16.3g/t Au (Figure 1). More recently OceanaGold (OGL) mined an open pit and extracted an additional 600koz of gold from lower grade remnant mineralisation around the historic Globe Progress mine. Collectively these mines produced 1.6Moz at 10g/t Au.
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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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