Siren Gold Limited (ASX: SNG) has identified a 1km long NW trending Au anomaly at Mt Lyell North in New Zealand, 3km north of the Alpine United mine that historically produced 80koz @ 17g/t Au.
Highlights
• As previously reported, two trenches 100m apart were excavated in the middle of the gold anomaly and intersected 7m @ 13.8g/t Au and 8.0m @ 6.3g/t Au.
• Siren has discovered an outcropping quartz reef with significant visible gold in the NW end of the Mt Lyell soil anomaly. The reef is surrounded by disseminated acicular arsenopyrite for a total thickness of approximately 2.0m, with results awaited.
• The Mt Lyell North 1km long Au Zone has been identified as a significant new discovery.
Background
The Lyell Goldfield is located 40kms north of Reefton, where gold bearing quartz lodes were worked over a continuous strike length of 5km. The Lyell Goldfield is the northern extension of the Reefton Goldfield that produced two Moz of gold at an average recovered grade of 16g/t. The project overlays the historic Alpine United mine, which produced ~80koz of gold at an average recovered grade of ~17g/t between 1874 and closing in 1912.
Geological and structural mapping has been undertaken over 6km strike extent of permit. The main structure is the Alpine Anticline. This fold extends along the length of the permit and is associated with quartz veining disseminated rhombic arsenopyrite.
Assays from multiple rock chip samples of both quartz veining and arsenopyrite mineralised sediments returned gold grades near or below detection limits. Soil sampling to date has confirmed a continuous zone of strong arsenic soil anomaly extending over 5km along the Alpine Anticline, while the gold anomaly shows a NW trend that intersects the anticline around the Alpine United mine.
The anomaly extends for over 4km where it potentially intersects a syncline around the United Victory mine. The Break of Day mine is also located along this anomaly. The soil samples along the NNW gold trend identify several anomalous areas.
These may represent mineralised shoots similar to those seen at Alexander River. The Alpine United mine shoot plunged ~45o to the north and was mined down to 500m below the surface with 80koz @ 17g/t Au recovered.
Exploration – Next Steps
Field exploration will continue over the next quarter with additional mapping soil sampling and trenching followed by diamond drilling in Q1 2023, subject to Department of Conservation (DoC) access.
Soil Sampling
Additional soil sampling to cover the gap between Mt Lyell North and the top of the permit boundary.
Trenching
Trenching will continue, with additional trenches at Mt Lyell North and commencement of trenching at Mt Lyell.
Diamond drilling
A DoC Access agreement is currently being reviewed by DoC which will allow drilling of the Alpine United, Mt Lyell and Mt Lyell North Shoots.
Subject to additional trench results, the initial drilling will focus on defining the extent (height) and plunge of the potential Mt Lyell and Mt Lyell North Shoots and targeting potential disseminated mineralisation around the Alpine United mine.
For further information please visit: https://www.sirengold.com.au/
