Siren Gold (ASX: SNG) has successfully detected mineralization 500m below surface with an ionic leach trial at the Sams Creek Project in New Zealand.
Highlights
• Sams Creek is an intrusion-related gold deposit (IRGD) with mineralization contained within a porphyry dyke.
• The Sams Creek porphyry dyke (SCD) is over 7kms long, up to 60m thick, and extends down dip for at least 1km.
• The Sams Creek MRE comprises 9.1Mt @2.82g/t Au for 824koz (1.5g/t cut-off), with only around 15% of the SCD drilled to date.
• An interpreted magnetic anomaly below the Main Zone could represent a large felsic intrusion that may be the source of the SCD and gold mineralization.
• Historic diamond drillholes at the Main Zone includes:
o DDHSC84019, which intersected 183m @ 2.46g/t Au from 31m (including eight mineralized sections >2g/t Au with a weighted average of 101m @3.39g/t Au).
o DDH84SC016, which intersected 87m @ 4.2g/t Au across seven high-grade intervals.
• A trial Ionic Leach soil survey detected the SCD mineralization over 500m below the surface. This survey will now be extended along the length of the SCD and over the magnetic anomaly to identify additional mineralization that can be targeted by drilling.
“Siren believes there is significant potential at Sams Creek for a large underground mining operation,” Managing Director Brian Rodan, said.
“The Sams Creek Dyke (SCD) is up to 60m thick, can be traced for over seven km along strike, has a vertical extent of at least one km and is open at depth. Drilling to date has focused on a 1km section of the dyke from the Carapace to the Main Zone. The trial Ionic Leach soil sampling programme has successfully identified Sams Creek mineralization 500m below the surface and identified new target areas.
“This programme will now be extended across the whole deposit. We look forward to seeing these results in the coming months.”
The Sams Creek Gold Project is located 140km NE of Reefton and 100km NE of Lyell. The Project comprises two exploration tenements: EP 54454, which is wholly-held by Sams Creek Gold Limited (SCGL), a wholly owned subsidiary of Siren, and EP40338, which is 81.9% held by SCGL under a joint- venture agreement with New Zealand’s largest gold miner, OceanaGold Limited (OGL), who own the remaining 18.1% interest.
For further information please visit: https://www.sirengold.com.au
