- Siren Gold (ASX:SNG) releases its activities report for the three-month period ending September 30, where it focussed on two key projects in the upper South Island at Reefton
- Cash flows for the quarter included $569,000, which was spent on exploration and evaluation expenditure activities at Auld Creek, Lyell, Cumberland and Sams Creek
- No expenditure was incurred on mining production or development activities during the quarter, and Siren recorded a closing cash balance of 1.64 million
- Siren’s global MRE is 1.33 million ounces at 3.3 g/t gold equivalent
- SNG shares are up 4.84 per cent, trading at 6.5 cents at 3:59 pm AEDT
NZ-focussed gold explorer Siren Gold (ASX:SNG) has released its activities report for the three-month period ending September 30, where it focussed on two key projects in the upper South Island at Reefton.
Cash flows for the quarter included $569,000, which was spent on exploration and evaluation expenditure activities at Auld Creek, Lyell, Cumberland and Sams Creek.
No expenditure was incurred on mining production or development activities during the quarter, and Siren recorded a closing cash balance of 1.64 million.
Siren remains confident there is room for significant potential at its Sams Creek Dyke for a large underground mining operation. The dyke is 60 metres thick and travels over seven kilometres, remaining open.
To date, only 15 per cent of the area has been tested with 127 diamond drill holes completed.
During the quarter, the company also declared a maiden Auld Creek mineral resource estimate (MRE) of 132 thousand ounces (koz) at 7.1 grams per tonne (g/t) gold equivalent, and it reported 8700 tonnes of antimony at 1.5 per cent.
The MRE comprises Siren’s Fraternal shoot to a depth of 175 metres, which remains open, and it’s based on existing surface trenches and drill holes. Three other shoots have also been identified, including the Fraternal North, Bonanza and Bonanza East Shoots.
Siren’s Reefton MRE now stands at 444koz of gold and 8.7 thousand tonnes (kt) of antimony for 511koz at 4.4 g/t of gold equivalent, and its global MRE is 1.33 million ounces at 3.3g/t gold equivalent.
SNG shares were up 4.84 per cent, trading at 6.5 cents at 3:59 pm AEDT.