- Siren Gold (SNG) intercepts up to 12 grams per tonne (g/t) gold equivalent in its first drill hole at the Auld Creek prospect within its Golden Point exploration permit in New Zealand
- The company’s first drill hole intersected both the Fraternal and Bonanza Shoots
- While assays from the company’s second drill hole are still pending, SNG reported results from its first drill hole were “very encouraging,” and consistent with historical work
- Drilling is set to continue, with updated results to be provided to the market over the coming weeks
- SNG shares are up 10 per cent, and trading at 11 cents at 1:08 pm AEST
Siren Gold (SNG) has struck up to 12 grams per tonne (g/t) gold equivalent in its first drill hole at the Auld Creek prospect within its Golden Point exploration permit in New Zealand.
The company’s first drill hole intersected both the Fraternal and Bonanza Shoots.
The Fraternal Shoot returned 20.8 metres at 5.9 g/t gold, along with 2.6 per cent antimony for 12.0 g/t gold equivalent from 116.2 metres. This included 4.6 metres at 10.7 g/t gold, 3.9 per cent antimony for 19.9 g/t gold equivalent.
The Bonanza Shoot intersected 3.5 metres at 4.3 g/t of gold from 53.5 metres.
While assay results from the company’s second drill hole are still pending, SNG reported the thickness of results from its first drill hole were “very encouraging,” and consistent with historical drillholes.
“As previously reported, Siren was particularly excited about the type of mineralisation evident in the first drill hole at Auld Creek, and we are very pleased to report that the assays confirm the presence of consistent high-grade gold and antimony mineralisation across the entire Fraternal intercept,” SNG Managing Director and Executive Chairman Brian Rodan said.
“Drilling is continuing, with updated results to be provided to the market over the coming weeks.”
The company’s Auld Creek prospect is situated between the Globe Progress mine, which historically produced 418 thousand ounces at 12.2g/t of gold, and the Crushington group of mines that produced 515 thousand ounces at 16.3 g/t of gold.
Siren recently acquired the Cumberland exploration permit, a part of the Globe Progress mining permit, meaning the company now holds the ground immediately to the north and south of the Globe Progress mine.
The gold-antimony mineralisation extends from Auld Creek through to Globe Progress and the Cumberland prospects onto Big River, which holds a strike length of 12 kilometres.
The Auld Creek arsenic soil anomaly now extends for over 700 metres along strike, and trenching along the soil anomaly has defined high-grade gold-antimony mineralisation within Fraternal, Fraternal North, Bonanza and Bonanza West Shoots.
SNG shares were up 10 per cent, and trading at 11 cents at 1:08 pm AEST.