Siren Gold’s (ASX:SNG) application to extend the Lyell tenement, which forms part of the Reefton Project, has been granted for a further five years by New Zealand Petroleum and Minerals.
Managing Director and CEO Victor Rajasooriar says Lyell has the potential to be the jewel in Siren’s crown, based on recent discoveries around Mt Lyell North.
“Our geological team are looking forward to drilling once all approvals are in place and replicating the surface rock chips and trenching data gathered last year,” he says.
Drilling will be focused on targeting high-grade shoots within the tenement and is anticipated to begin once access agreements are executed with the Department of Conservation in the third quarter of 2024.
Siren Gold reports previous results at Lyell from trenching and surface sampling include 7m @ 13.8 grams per tonne (g/t) gold, 3m @ 19.1g/t gold, and 1.1m @ 36g/t gold.
Located on the South Island of New Zealand, the Lyell tenement covers a 54.25km2 area and extends 4km north-west from the Alpine United Mine that produced 80,000 ounces of gold at an average grade of 17g/t gold between 1874 and 1912.
Write to Aaliyah Rogan at Mining.com.au
Images: Siren Gold
