Gold explorer Siren Gold (ASX:SNG) has identified a ‘large’ untested 3km-long gold anomaly through soil geochemistry at its Big River South Gold Project in New Zealand.
The $14.90 million market capitalisation company says the anomaly extends from the Big River mine area.
Siren reports soil geochemistry was completed over 6km, from Big River North to about 2km south of the St George target. The results demonstrate that the gold anomaly continues ‘strongly’ to the south until it is cut off by younger granite and extends into a broad zone south of St George that has not been historically mined.
Further, the company reports recent rock chip sampling at Big River South confirms ‘high-grade’ gold mineralisation, with visible gold evident at the St George target.
The gold grades of the reef range from 0.6g/t Au to 144g/t Au, with an average of 30.7g/t Au.
Commenting on the discovery, Siren Gold Managing Director Brian Rodan says: “These results confirm the high-grade gold mineralisation evident at Big River continues along the quartz reef approximately 3km south.
“Siren sees enormous potential to expand on the current resource base of 100,000 ounces at the Big River project area”
It is a high-priority target for future drilling, and Siren sees enormous potential to expand on the current resource base of 100,000 ounces at the Big River project area.”
The Big River Gold Project is located about 15km southeast of Reefton and overlays the area of the historical Big River Mine, which produced about 136,000 ounces of gold at an average recovered grade of 34g/t Au between 1880 and 1942.
Siren Gold is focused on the ‘high-grade’ Reefton Goldfields region, with 6 key projects in the area: the Alexander River, Big River, Lyell, Sams Creek, Auld Creek, and Cumberland projects.
As of 31 March 2023, the company had $1.915 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Siren Gold Ltd