Siren Gold (ASX:SNG) has committed to drilling the second diamond drillhole at Sams Creek Project to target deeper mineralisation.
The first drillhole (SCDDH108) reported an intersection of 23m from 487m to 510m of the Sams Creek Dyke (SCD), confirming that the dyke is dipping towards the northwest.
The SCD contains gold bearing arsenopyrite veins forming in the plunging folds, resulting in mineralised shoots in the northeast.
The project currently has a mineral resource estimate (MRE) of 824,000 ounces at 2.8 grams per tonne gold using a 1.5g/t cut-off.
A second antiform (A2 Antiform), running parallel to the first, has been mapped at the Doyles prospect at 600mRL, with 11 rock chip samples averaging 3.4g/t gold.
The second anticline (A2 Anticline) was also intersected in the two deepest diamond holes drilled at Sams Creek so far. SC90 returned an intersection of 11m at 2.01g/t gold and SC91 returned 13m at 3.14g/t.
The company says that the exploration target has the potential to add to the MRE and that two additional drillholes to the east and west of the previous drill projects have been proposed.
Managing Director Victor Rajasooriar says with the gold price reaching new highs in recent times, it gives junior explorers like Siren the confidence to continue exploring the Sams Creek Dyke.
As of 9.45am AEST, the gold price was around US$3,275 ($5,108) an ounce.
Siren Gold, which has a market capitalisation of $12 million, is an exploration company based in the South Island of New Zealand, focusing on the discovery of gold and antimony.
Write to Maddison Elliott at Mining.com.au
Images: Siren Gold
