- Siren Gold (SNG) reports it has found more high-grade gold hits as it continues drilling at its Alexander River project in New Zealand
- SNG is carrying out diamond drilling at the site, with latest drill holes testing the Loftus McKay and McVicar West shoots
- Best results include five metres at 8.7 grams of gold per tonne (g/t) from 56 metres, including 1.6 metres at 26.4 g/t gold
- Siren upgraded its exploration target at Alexander River after intercepting high-grade results during its extensive drilling campaign
- Shares in SNG closed up 10.4 per cent at 26.5 cents each on August 19
Siren Gold (SNG) reports it has found more high-grade gold hits as it continues drilling at its Alexander River project in New Zealand.
The junior explorer has been carrying out diamond drilling at the site for close to a year, with 52 holes completed so far.
SNG said the latest drilling efforts at the project were testing the Loftus McKay and McVicar West shoots.
Best results include five metres at 8.7 grams of gold per tonne (g/t) from 56 metres, including 1.6 metres at 26.4 g/t gold in the hanging wall.
This intersection was 35 metres below a previous intersection of two metres at
26.8g/t gold within the Loftus shoot.
Meanwhile, drilling in the McVicar West shoot hit 4.1 metres at 10.6g/t gold, while Siren said all the holes drilled in this shoot intersected visible gold.
The company also said the results from McVicar confirmed the mineralisation dips to the north-west, parallel to the Loftus shoot.
Siren previously upgraded its exploration target at Alexander River after intercepting high-grade results.
It currently stands at 500,000 ounces to 700,000 ounces at 5g/t gold to 7g/t gold.
Shares in Siren Gold have ended Thursday’s trading session up 10.4 per cent at 26.5 cents per share.