- Siren Gold (SNG) reports a high grade intersection at its Alexander River project in New Zealand as it progress towards a Mineral Resource Estimate (MRE)
- The intersection came from diamond drilling in the McVicar West shoot, with AX85 recording 2.1 metres at 18 grams per tonne (g/t) of gold
- This includes 0.4 metres of quartz reef at 14.5g/t of gold and 0.9 metres of arsenopyrite mineralisation, which assayed 32.1g/t of gold
- The company is currently working towards an MRE, which is expected in May
- Shares are trading 7.23 per cent higher at 44.5 cents
Siren Gold (SNG) has reported a high grade intersection at its Alexander River project in New Zealand as it progress towards a Mineral Resource Estimate (MRE).
The intersection came from diamond drilling in the McVicar West shoot, with hole AX85 recording 2.1 metres at 18 grams per tonne (g/t) of gold.
This includes 0.4 metres of quartz reef at 14.5g/t of gold and 0.9 metres of arsenopyrite mineralisation, which assayed 32.1g/t of gold.
Meanwhile, assays from diamond drill hole AX89 are currently pending after intersecting a strongly mineralised 2.2 metre zone, which included a 0.6-metre quartz reef.
The results indicate a displacement of the fault by around 40 metres, which is less than expected. If interpreted correctly, the Loftus Mackay shoot would have a similar displacement across the fault.
The company is currently working towards a maiden MRE for all holes drilled to the end of March. The MRE is expected to be completed in May.
Shares were trading 6.02 per cent higher at 44 cents each at 2:13 pm AEST.