Siren Gold (ASX:SNG) is targeting first development at its Sams Creek Gold Project, with a mining permit decision expected by late 2025 and plans to update the resource with an accompanying scoping study by Q3 2026.
The application – lodged in March 2025 and being assessed by New Zealand Petroleum & Minerals – is considered a key step for the company in transitioning from exploration to the mining stage.
Siren Gold, which has a market capitalisation of $10.72 million, says it will enable development to begin upon receiving necessary consents and access agreements.
Over the next 15 months, Siren Gold plans to complete an infill drilling program on the Main Zone shoot to convert the majority of the inferred resource to indicated, as well as complete exploration drilling on the top end of the Doyles shoot by Q2 2026.
Interim Managing Director Brian Rodan says Sams Creek demonstrates potential to evolve into a “very large and extensive high-grade” gold system.
“Importantly, the ability to access the potential additional mineralisation from the current proposed centralised development creates a compelling case for scale, efficiency, and low operating cost opportunity,” Rodan says.
“Siren considers that Sams Creek is still significantly underexplored, and the project holds potential to become one of New Zealand’s most exciting new gold development opportunities with significant upside exploration potential beyond the current 953,000 ounces resource.”
Rodan adds with the opportunity already uncovered from the four mineralised fold targets and with potential to access any future discoveries from a central underground development, Siren sees a clear pathway to expand the resource and improve and extend the current proposed life of mine and project economics.
The Sams Creek Project, located 140km northeast of Reefton, is a joint venture between Sire Gold and Ocean Gold (TSX:OGL).
Sams Creek’s resource contains 807,772 ounces of gold @ 2.82 grams per tonne gold.
Siren Gold is a mineral explorer primarily focused on gold and antimony discoveries in the Reefton Goldfield in the South Island of New Zealand.
Write to Aaliyah Rogan at Mining.com.au
Images: Siren Gold
