Siren Gold Limited (ASX: SNG) has reported further high-grade gold results from diamond drilling at its Alexander River Project in Reefton, New Zealand, with results including 0.9m @ 50.6g/t Au within a 2.0m thick mineralised zone (30.0m to 32.0m) that assayed 26.8g/t Au.
Drilling had commenced at the project in September 2020, with 41 holes completed and two in progress for a total of 4,831.5m. Key intersections include:
Alexander River project
The Alexander River Project is located ~26 km southeast of Reefton in New Zealand. The project (comprised of Exploration Permit 60446) overlays the areas of the historic Alexander River Mine, closed in 1943, which produced 41,089 oz of gold at an average gold recovered grade of ~26g/t.
The Company had reported a combined exploration target for Alexander River of 250koz-500koz of gold at a gold grade ranging from 5 to 6 g/t. This includes the Loftus McKay, Bull, and McVicar West shoots projected to 500m down plunge.
Latest updates and further work
- Diamond drilling is currently being undertaken at Alexander project with two heli-support drilling rigs. Drilling is planned to continue to the end of 2021 and beyond.
- Drilling at Alexander will continue to target down dip extensions of the Loftus McKay, Bull, and McVicar West shoots. The three shoots will be further tested by diamond drilling down plunge to 500m over the next 6 months from approved drill pads. Additional drill pads will be required to test the Loftus McKay and McVicar West shoots to 1km down plunge if the next phase of drilling is similarly encouraging.
- The Department of Conservation has now granted an access agreement for the company’s Golden Point project, allowing up to 22 holes to be drilled. Drilling will commence at Golden Point in August.
- 5,000m of diamond core is budgeted for Alexander and Big River projects in 2021, and 500m for Golden Point, at total 10,500m. Year to date 3,378m have been drilled at Alexander and 1,986m at Big River for a total of 5,365m. A budget for 5,135m remains.
Images: Siren Gold Limited
