Siren Gold (ASX:SNG) is eyeing an updated inferred Mineral Resource Estimate (MRE) for the Auld Creek Project, within its greater Reefton Project in New Zealand.
Managing Director and CEO Victor Rajasooriar says the ongoing drilling program is expected to aid the company in its understanding of the antimony and gold distribution within mineralisation.
The $13 million market capitalisation company says an updated MRE is warranted after posting gold equivalent grades up to 53.4 grams per tonne.
The results, generated from the first two holes of an ongoing drilling program, were returned from the Bonanza East and Fraternal shoots.
Both shoots are key targets for drilling over the coming months, alongside the Bonanza and Fraternal North shoots.
“Auld Creek is evolving into a high-grade discovery and is continuing to demonstrate the scale and high-grade potential throughout the whole Reefton field,” the CEO says.
Additionally, the significance of the high concentration of antimony should not be underestimated, with antimony being geopolitically significant and recognised as a critical mineral.”
Siren Gold is a gold explorer focused on its 1,100km-square tenement package with numerous ‘high-grade’ gold mines in the Reefton and Lyell Goldfields and the Sams Creek porphyry dyke.
The company’s portfolio of assets includes the Alexander River, Big River, Lyell, Auld Creek, Cumberland, Sams Creek, and Buried Targets projects.
Write to Adam Drought at Mining.com.au
Images: Siren Gold
