- Siren Gold (SNG) enters a trading halt for the purpose of considering, planning and executing a capital raising
- The company will remain in the halt until November 3 or when more details are released, whichever occurs first
- Siren also announces high-grade intersections are continuing at the Alexander River Project in New Zealand
- Drilling is continuing at the McVicar West and Bull shoots with grades peaking at 43.1g/t gold and 5.3g/t gold, respectively
- Shares in Siren last traded at 34 cents on October 28
Siren Gold (SNG) has entered a trading halt for the purpose of considering, planning and executing a capital raising.
The company will remain in the halt until November 3 or when more details are released, whichever occurs first.
Siren is yet to disclose how much it intends to raise or what it will use the funds for once received.
Siren has also announced high-grade intersections are continuing at the Alexander River Project in New Zealand, roughly 26km southeast of Reefton.
Diamond drilling began in September 2020 with 66 holes drilled to date and two in progress. A further 46 holes have been drilled so far this year and results have been received for 56 holes.
Drilling is continuing to target the McVicar West Shoot, with eight diamond holes drilled and five containing visible gold.
A 0.7-metre quartz reef with visible gold returned up to 43.1 grams of gold per tonne (g/t).
Further drilling will now be undertaken to extend the McVicar Shoot down-plunge to 500 metres for resource estimation.
Drilling has resumed at the Bull Shoot to further test it and drill deeper, as previous work ended in mineralisation.
Six holes have been drilled with results received for three and grades peaking a 5.3g/t gold.
Shares in Siren last traded at 34 cents on October 28. The company has a $28.50 million market cap.