Siren Gold (ASX:SNG) is planning to publish a maiden Mineral Resource Estimate (MRE) for its Fraternal Shoot in New Zealand within the quarter, once all recent drill results have been received.
The $15.58 million market capitalisation company is still awaiting drill results from hole ACDDH008 and hole ACDDH009 from the drilling program conducted at the Auld Creek prospect.
Siren Gold reports results recorded thus far include hole ACDDH007 with 26.5m @ 2.9g/t gold equivalent (AuEq) from 124m, including zones of 17.5m @ 3.7g/t Au, 0.1% Sb for 3.9g/t AuEq from 133m and 8.5m @ 6.7g/t Au from 142m.
Commenting on the drill results, Siren Gold Executive Chairman Brian Rodan says: “Siren was particularly excited about the type of mineralisation evident in the drillholes at Auld Creek, and we are now very pleased to report that the latest assays confirm the presence of consistent high-grade gold across the entire Fraternal intercept.
“we are now very pleased to report that the latest assays confirm the presence of consistent high-grade gold across the entire Fraternal intercept”
AXDDH009 also intersected a broad zone of mineralisation, with assays pending. Drilling is continuing, with updated results to be provided to the market over the coming weeks.”
An exploration target of 115,000 to 130,000 AuEq ounces at a grade of between 6g/t and 7g/t AuEq has been estimated for the Fraternal Shoot, based on existing surface trenches and drillhole results. This target extends to about 185m down plunge.
Siren Gold’s share price has increased by 6.09% to $0.12 as of 11:00am on Wednesday, ahead of the company’s presentation at the Noosa Mining Investor Conference.
The company is planning further drilling that will continue to target the down-plunge extensions of the Fraternal Shoot, alongside the Fraternal North, Bonanza, and Bonanza West shoots.
Siren Gold is an ASX-listed exploration company focused on its portfolio of projects in New Zealand. The company’s portfolio of assets includes the Alexander River, Big River, Lyell, Auld Creek, Cumberland, Sams Creek, and Buried Targets projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Siren Gold Ltd