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- Siren Gold (SNG) enters an agreement to acquire the Sams Creek gold project in New Zealand from Sandfire Resources (SFR)
- A total of $250,000 in consideration will be required in order to acquire interest in the three tenements within the project
- The project currently has a JORC mineral resource of 7.5 million tonnes at 2.43 grams per tonne (g/t) of gold for 588,000 thousand ounces of contained gold
- It also has extensive gold mineralisation which extends for over seven kilometres and is open at depth
- Shares are trading 5.71 per cent in the green at 37 cents at 10:41 am AEST
Siren Gold (SNG) has entered an agreement to acquire the Sams Creek gold project in New Zealand from Sandfire Resources (SFR).
A total of $250,000 in consideration will be required in order to acquire interest in the three tenements within the project.
The project currently has a JORC mineral resource of 7.5 million tonnes at 2.43 grams per tonne (g/t) of gold for 588,000 ounces of contained gold.
It also has extensive gold mineralisation which extends for over seven kilometres and is open at depth.
Metallurgical test work indicates gold recovery rates of between 84 per cent and 87 per cent.
SNG said the project has similar metallurgy to the its Reefton project, which could produce an arsenopyrite flotation concentrate suitable for central downstream processing.
Shares were trading 5.71 per cent in the green at 37 cents at 10:41 am AEST.
