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- Siren Gold (SNG) sees “exciting potential” at the Auld Creek prospect in New Zealand
- The mineralisation at Auld Creek sits between the Crushington and Globe Progress historic mines
- Two north-south trending gold and arsenic anomalies were defined along the line of the Bonanza and Fraternal reefs for around 700 metres along strike
- The existing drill holes at Auld Creek have only tested the mineralisation to less than 100 metres below surface and 150 metres along strike
- SNG shares are down 4.35 per cent and trading at 33 cents per share at 2:11 pm AEST
Siren Gold (SNG) has seen “exciting potential” at the Auld Creek prospect in New Zealand.
Mineralisation at Auld Creek sits between the Crushington and Globe Progress historic mines.
The Energetic at Crushington was mined to around 60 metres and Globe Progress was mined to around 420 metres below surface. The mineralisation on the other side of the fault has not been found and remains to be rediscovered.
Two north-south trending gold and arsenic anomalies were defined along the line of the Bonanza and Fraternal reefs for around 700 metres along strike.
Trenching results returned two metres at 8.6 grams per tonne of gold (g/t) and 1.7 per cent antimony across the Bonanza reef and two metres at 5.6g/t gold and 2.3 per cent antimony across the Fraternal reef.
Siren said Auld Creek mineralisation extends for over two kilometres and appears to represent a block that was potentially offset to the west.
“The historically more successfully Bonanza Lode has been almost totally untouched by modern exploration, with the focus in recent times placed on the outcropping Fraternal mineralisation to the east,” the company said.
“Exploration efforts to date have proved substantial gold mineralisation exists in the Auld Creek Prospect area.”
Between 1996 and 2013, Oceana Gold (OGL) drilled 17 diamond holes, for 2016 metres, defining a mineralised zone up to 13 metres true width.
The existing drill holes at Auld Creek have only tested the mineralisation to less than 100 metres below surface and 150 metres along strike. Further drilling is being planned to explore the area further.
On the market, SNG was down 4.35 per cent and trading at 33 cents per share at 2:11 pm AEST.
