Siren Gold (ASX:SNG) is planning its next stage of drilling to target the untested mineralisation at the Bonanza and Fraternal North zones of its Auld Creek prospect in New Zealand.
Executive Chairman Brian Rodan says the company is looking forward to continuing exploration work and unlocking the ‘full potential’ of the gold-antimony resource at Auld Creek.
The company is also completing a block model of the Bonanza East mineralisation based on completed drilling and trenching, which it will use to target more drilling.
Once the near-surface potential of Auld Creek’s 4 mineralised zones is known, Siren will then undertake targeted drilling to extend mineralisation at depth.
The $7.94 million market capitalisation company recently completed 5 diamond drillholes at Auld Creek, which all intersected ‘significant’ mineralisation in the Bonanza East Shoot.
‘Significant’ drill results include drillhole ACDDH011 with 5m @ 4.1 grams per tonne (g/t) gold (Au) and 7% antimony (Sb) for 20.6g/t AuEq from 78.3m, including 3.1m @ 6.5g/t Au and 11.4% Sb for 33.4g/t AuEq; and drillhole ACDDH014 with 2.7m @ 2.8g/t Au and 1.1% Sb for 5.3g/t AuEq.
The company reports that the deepest hole, ACDDH014, intersected the Bonanza Shoot 75m below the surface and remains open at depth.
Rodan says: “Siren’s Auld Creek prospect has once again proven its significance as a key project, with assays from recent drilling at Bonanza East returning high grades of gold and antimony from all 5 diamond holes.
The continued high-grade results from Auld Creek reinforce the potential to add considerably to the current high-grade Inferred resource of 132,000 ounces of AuEq at 7.1g/t AuEq with further drilling at depth and additional mineralised zones.”
“Siren’s Auld Creek prospect has once again proven its significance as a key project”
Siren Gold is an ASX-listed gold-focused explorer with assets across the South Island of New Zealand.
As of 30 September 2023, the company had $1.635 million cash and cash equivalents at hand and $50,000 in unused finance facilities, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Siren Gold
