- Siren Gold (SNG) identifies high-grade gold along a four-kilometre soil anomaly at its Lyell gold project in New Zealand
- Two trenches excavated 100 metres apart across the Mt Lyell North area intersected disseminated arsenopyrite with thin grey quartz veins, samples of which contained fine visible gold
- The company has applied for 19 drill pads ahead of drilling planned for the first quarter of 2023, subject to Department of Conservation (DoC) access
- In the meantime, Siren will continue its field exploration work, with additional mapping, soil sampling and trenching underway
- Siren shares are up 2.7 per cent and trading at 19 cents at 12:17 pm AEDT
Siren Gold (SNG) has identified high-grade gold along a four-kilometre soil anomaly at its Lyell gold project in New Zealand.
The company has been undertaking mapping and geochemical and geophysical surveys in the area to evaluate drill targets for a maiden drilling program.
Most recently, two trenches were excavated 100 metres apart across the Mt Lyell North mineralised zone.
Both trenches intersected disseminated arsenopyrite with thin grey quartz veins, and samples of these veins were found to contain fine visible gold.
The first trench exposed a seven-metre thick mineralised zone averaging 13.8 grams of gold per tonne (g/t), with one-metre grades as high as 25 g/t.
Meanwhile, the second trench was eight metres thick and averaged 6.3 g/t gold, with one metre grades as high as 29.7 g/t.
The Lyell project lies 40 kilometres north of Reefton in the West Coast region of New Zealand and overlays the historic Alpine United mine.
Siren said the core of the gold and arsenic soil anomaly at Mt Lyell North appeared to be at least 300 metres long, which the company believed could represent another north-plunging shoot similar to the Alpine United mine.
Siren said the fact that no historic mining or previous exploration has been undertaken at Mt Lyell North highlighted the “significant” potential of the project.
The company has applied for 19 drill pads ahead of drilling planned for the first quarter of 2023, subject to Department of Conservation (DoC) access.
In the meantime, field exploration will continue, with additional mapping, soil sampling and trenching underway.
Siren shares were up 2.7 per cent and trading at 19 cents at 12:17 pm AEDT.