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- Siren Gold (SNG) increases its New Zealand global resource to just under one million ounces of gold
- The company has upgraded the mineral resource estimates of its Alexander River and Sams Creek projects on New Zealand’s South Island to 10.2 million tonnes at three grams per tonne (g/t) gold for 994,000 ounces
- Alexander River’s MRE saw a 22 per cent increase in grade to 4.95 g/t gold thanks to the inclusion of trench data
- Meanwhile, the Sams Creek’s MRE has been updated for the second time in a couple of months due to the inclusion of the Bobby Dazzler prospect
- Siren Gold shares are up 2.86 per cent and trading at 18 cents at 2:07 pm AEDT
Siren Gold (SNG) has increased its New Zealand global resource to just under one million ounces.
The global resource reads 10.2 million tonnes at 3.04 grams per tonne (g/t) gold for 994,000 ounces at a 1.5 g/t cut-off and comprises the Alexander River and Sams Creek projects on New Zealand’s South Island.
Alexander River
The Alexander River Project has a total inferred mineral resource estimate (MRE) of 1.07 million tonnes at 4.95 g/t gold for 169,600 ounces, representing a 30 per cent increase compared to its last estimate.
The MRE is based on 22,044 metres of diamond drilling and 232 metres of surface trench data, with the trench data resulting in a 22 per cent increase in the gold grade.
Alexander River’s MRE is made up of the McVicar East, Bull East, Bruno, Loftus-McKay and McVicar West shoots, with the latter contributing to almost half of the project’s total MRE.
Sams Creek
Siren Gold updated the Sams Creek MRE in November 2022 to 8.91 million tonnes at 2.82 g/t gold for 807,772 ounces.
The company has now extended the Sams Creek model to include the Bobby Dazzler prospect, which lies between the Main Zone and Carapace.
Bobby Dazzler’s inferred MRE is 200,000 tonnes at 2.59 g/t gold for 16,700 ounces, bumping up Sams Creek’s total MRE to 9.1 million tonnes at 2.8 g/t gold for 824,000 ounces.
Siren Managing Director Brian Rodan said the company had come a long way since its IPO two years ago.
“Today’s announcement of a high-grade one-million-ounce JORC global resource is another major leap forward for the company’s strategy of developing a significant regional gold mining operation at Reefton and Sams Creek in New Zealand,” he said.
Siren Gold believes there’s further resource potential in its projects and said it looked forward to providing more updates over the coming year.
Siren Gold shares were up 2.86 per cent and trading at 18 cents at 2:07 pm AEDT.
