Join our daily newsletter At The Bell to receive exclusive market insights
- Siren Gold’s (SNG) ionic leach trial detects mineralisation below surface at its Sams Creek project in New Zealand
- The company’s trial ionic leach soil survey uncovered the dyke mineralisation over 500 metres beneath the surface
- With the survey complete, SNG MD Brian Rodan says he believes there is “significant potential” for a large underground mining operation at the project
- The survey will now be extended along the length of the dyke and over the magnetic anomaly to identify additional mineralisation that can be targeted by drilling
- Siren Gold is up 12.4 per cent and trading at 9.1 cents at 12:01 pm AEST
Siren Gold’s (SNG) ionic leach trial has detected mineralisation below surface at its Sams Creek project in New Zealand.
Sams Creek is an intrusion-related gold deposit, with mineralisation contained within a porphyry dyke. The dyke is up to 60 metres thick and can be traced for over seven kilometres along strike, with a vertical extent of at least one kilometre.
The company’s trial ionic leach soil survey uncovered the dyke mineralisation over 500 metres beneath the surface.
With the survey wrapped up, SNG Managing Director Brian Rodan said he believes there is “significant potential” at the project for a large underground mining operation.
“The trial ionic leach soil sampling program has successfully identified Sams Creek mineralisation 500 metres below the surface and identified new target areas,” he said.
“This program will now be extended across the whole deposit.”
The survey will now be extended along the length of the dyke and over the magnetic anomaly to identify additional mineralisation that can be targeted by drilling.
The Sams Creek mineral resource estimate currently sits at 9.1 million tonnes at 2.82 grams per tonne (g/t) gold for 824,000 ounces, with only around 15 per cent of the dyke drilled to date.
Siren Gold was up 12.4 per cent and trading at 9.1 cents at 12:01 pm AEST.
