- New Zealand gold explorers Siren Gold (SNG) has found new mineralised shoots at its Alexander River Project in Reefton, New Zealand
- The unmined Loftus-McKay shoot has been identified by surface sampling and recent drilling
- Drilling results include 1.8 metres at 6.7g/t of gold and 2.7 metres at 2.5 g/t of gold
- Notably, further drill holes have also intersected the shoot, and Siren is currently awaiting these results
- On the market today, Siren is down 7.14 per cent and is trading at 39 cents per share
Siren Gold (SNG) has found new mineralised shoots at Alexander River in Reefton New Zealand.
The Alexander Project overlays the areas of the historic Alexander River Mine, which closed in 1943 after producing 41,089 ounces of at an average gold recovered grade of around 26g/t.
Structural mapping at the project has been divided into east- and west-dipping domains. The east includes the Bull-McVicar-Bruno reef track and the west includes the Loftus-Mckay reef track.
The un-mined Loftus-McKay shoot has been identified by surface sampling and recent drilling. The shoot plunges to the northeast, is around 200 metres high, extends for 300 metres down plunge and is open at depth.
Drill holes AX30 and AX31 drilled into the top of the shoot and intersected 1.8 metres at 6.7g/t of gold and 2.7 metres at 2.5 g/t of gold.
Notably, drill holes AX34, AX35 and AX36 have also intersected the shoot, and Siren is currently awaiting the results.
Over at the McVicar West, the shoot has been interpreted based 1942 mapping and on drill hole A6-3, which intersected 5.5 metres at 5.3g/t. This shoot would lie around 200 metres below the Loftus McKay shoot.
On the market today, Siren is down 7.14 per cent and is trading at 39 cents per share.