Gold Co. Plans To Drill Around 3 Moz Within 24 Months
Barry Dawes of Martin Place Securities shares why he likes Siren Gold.
Siren Gold (SNG:ASX) has high quality gold and antimony deposits in New Zealand. Reefton Goldfields extend over 50 km. It may contain ~5% of the world's antimony resources.
Drilling focuses on upgrading several high-grade deposits. Drilling at Auld Creek delivers bonanza grades. Drilling at Sams Creek resumes this June quarter. New Zealand has fast-tracked programs, including SNG's Reefton project and Sams Creek.
Key Points
Auld Creek
Bonanza Shoot deliversACDDH016 22.2m at 7.2 grams per tonne gold (g/t Au) and 0.3% antimony (Sb) from 67m (10m true width) announced yesterdayACDDH015 12.4m at 5.3g/t Au and 14.9% Sb from 69m (6m true width) earlier in March quarterFraternal Shoot delivers (intersected in same hole)ACDDH015 23.0m at 4.0g/t Au and 0.22% SbResource upgrade from 66koz at 3.5g/t Au and 8.7kt at 1.5% Sb expected later in 2024Sams Creek
Ion leach soil sampling extended, and Anvil prospect enhancedNext stage drilling underway.NZ Fast Track
New Government announces Fast Track Processing and includes Reefton and Sams CreekThese projects are recognized as important resource developmentsSiren Gold is an active explorer in South Island, New Zealand, with its Reefton Gold and Antimony Project and Sams Creek Gold porphyry dyke.
The Reefton Project is developing into a series of high-grade underground resources that will feed into a central mill.
The current focus is on the Auld Creek prospect, where 132kozAuEq has been defined in reefs with high-grade gold and high-grade antimony.
Auld Creek
Auld Creek extends over 700 meters north-south and is split into the Fraternal and Bonanza Shoots. Siren has drilled two diamond holes in 2024 and expects to complete the eight-hole program this year. The results to date have been very encouraging and should ensure that a larger resource then the 132koz AuEq to date. The significance of the Antimony is growing and there is a worldwide search for new Antimony deposits that are outside of China.
This Reefton region may contain as much as 5% of the world's Antimony resources.
Sams Creek
The Sams Creek Gold Project is located 140 km NE of Reefton and 100 km NE of Lyell. The mineralization is contained within a hydrothermally altered peralkaline granite porphyry dyke.
The Sams Creek Dyke is up to 60m thick and can be traced E-W for over 7kms along strike. The dyke generally dips steeply to the north with gold mineralization extending down dip for at least 1km, and it is open at depth.
Sams Creek has a Resource of 820koz at 2.8g/t. Ionic soil sampling during the quarter over the Anvil Prospect to the east and outside of the current resource was encouraging. Drilling resumed during the quarter.
Sams Creek Project
SNG has already signaled the goal of 2.5-3.0moz within 24 months.
SNG Downward sloping wedge being resolved top the upside.
Head the markets, not the commentators.
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