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- Siren Gold (SNG) updates the market regarding recent exploration activities at the Big River Project in New Zealand
- To date, the company has drilled three of the six mineralised shoots at the historical and prospective Big River Mine
- Shoot 4 has intersected up to 21.4 grams of gold per tonne (g/t) and Shoot A2 has intersected 4.2g/t gold
- Based on previous results from this shoot, Siren has estimated a maiden exploration target of 100,000 ounces to 125,000 ounces at 7g/t gold to 9g/t gold
- Siren has applied for a further 26 drill pads so that all six shoots at the Big River Mine can be drilled to depths of around 600 metres
- Shares in Siren closed four per cent down at 24 cents
Siren Gold (SNG) has updated the market regarding recent exploration activities at the Big River Project in New Zealand.
The Big River Project lies approximately 15 kilometres southeast of Reefton and overlays the areas of the historical Big River Mine which produced around 136,000 ounces of gold at an average grade of 34 grams of gold per tonne (g/t).
The mine has been divided into six mineralised shoots which are overlaid by anomalous gold and arsenic soil geochemistry.
Only three of the shoots – 1, 4 and A2 – have been drilled to date.
Shoot 4 has been drilled to a depth between 100 metres to 400 metres and remains open at depth.
Best results include 6.6 metres at 21.4g/t gold, three metres at 18.5g/t gold and three metres at 12.1g/t gold.
Based on previous results from this shoot, Siren has estimated a maiden exploration target of 100,000 ounces to 125,000 ounces at 7g/t gold to 9g/t gold.
The A2 Shoot has only been drilled near-surface with a result of five metres at 4.2g/t gold intersected.
This shoot is up to 10 metres thick, contains significant quartz and sulphide mineralisation and has not been drilled or mined below 50 metres.
Siren has applied for a further 26 drill pads so that all six shoots at the Big River Mine can be drilled to depths of around 600 metres.
Shares in Siren closed four per cent down at 24 cents.
