Join our daily newsletter At The Bell to receive exclusive market insights
- Siren Gold (SNG) expands its exploration strategy at its New Zealand projects
- Over the next 12 months, the company will focus on drilling at the Alexander River, Big River and Sams Creek gold projects to grow its exploration targets
- Siren says the expansion comes as it believes the potential exists for a multi-million-ounce gold discovery
- Initial testwork at Alexander and Big River show that a gold recovery of around 90-92 per cent could be achieved by flotation, pressure oxidation and cyanide leaching
- SNG shares drop 14.8 per cent to trade at 23 cents just before market close
Siren Gold (SNG) has expanded its exploration strategy at its New Zealand projects.
Over the next 12 months, the company will focus on drilling at the Alexander River, Big River and Sams Creek gold projects with Siren planning to grow its exploration targets.
Reconnaissance exploration will also continue at St George, Lyell and Doyles with initial drilling planned for 2023.
Siren said the expansion comes as it believes the potential exists for a multi-million-ounce gold discovery.
Initial testwork at Alexander and Big River show that a gold recovery of around 90-92 per cent could be achieved by flotation, pressure oxidation and cyanide leaching with up to 30 per cent gravity gold recoverable from Alexander River samples.
Sams Creek metallurgical samples averaged 87 per cent recovery through a similar process.
Additionally, Siren is also investigating the use of advanced ore sorting benefaction technologies that will reduce waste material and upgrade the Reefton and Sam Creek ores.
On the market, SNG shares dropped 14.8 per cent to trade at 23 cents just before market close.
