- Siren Gold (SNG) has identified a new 3 kilometre long target at the Lyell Project, which is located to the north of the Reefton Goldfield in New Zealand
- SNG made the discovery via the reinterpretation of magnetic data, with Siren identifying a structure spatially associated with a continuous zone of gold and arsenic soil anomalism
- The materials stock believes the three kilometre long target represents the Lyell Shear Zone, just east of the historic Alpine United mine which produced 80,000 ounces
- It’s now planning to carry out regional soil geochemistry and structural mapping across the target areas, with applications underway for drilling access
- Shares in Siren Gold are trading steady at 32.5 cents each at 12:49 pm AEDT
Siren Gold (SNG) has identified a new three kilometre long target at the Lyell Project, which is located to the north of the Reefton Goldfield in New Zealand.
The project lies within the Lyell Goldfield, which is the northern extension of Reefton Goldfield — an area that historically produced 2 million ounces of gold at 16 grams per tonne.
SNG made this recent discovery at Lyell via the reinterpretation of magnetic data from captured at the site in 2013.
The company has identified a structure spatially associated with a continuous zone of gold and arsenic soil anomalism.
The material stock believes the new three kilometre long target represents the Lyell Shear Zone, which is located just east of the historic Alpine United mine.
The mine historically produced around 80,000 ounces of gold at 17 grams per tonne between 1874 and 1912.
Following this recent discovery, SNG said it was planning to carry out regional soil geochemistry and structural mapping across the target areas.
This work should be completed before the end of the year and the company hopes to negotiate drilling access for the site soon afterwards.
Siren Gold shares were trading steady at 32.5 cents per share at 12:49 pm AEDT.