Siren Gold Limited (ASX: SNG) has intersected a further high-grade zone at its Alexander River project in New Zealand.
Highlights
• Hole AX85 drilled in the McVicar West shoot intersected 2.1m @ 18.0g/t Au, including 0.4m quartz reef at 14.5g/t Au, and 0.9m of acicular arsenopyrite mineralisation that assayed 32.1g/t Au.
• AX89, drilled 100m down plunge from the previously announced AX84 (2.5m @ 358g/t Au), intersected a 2.2m strongly mineralised zone, including a 0.6m quartz reef with visible gold. Assay results are awaited. This intersection extends the McVicar West shoot to 600m down plunge below Level 6 of the McVicar mine, with the McVicar East and West shoots combined now extending for 1.3kms below the outcrop.
• AX89 intersected the reef around 40m to the west of AX84, indicating that the displacement of the fault is around 40m, which is significantly less than previously interpretated. This means that the Loftus-McKay shoot would have been displaced by a similar amount and drilling on the NE side of the fault missed it.
Recent Exploration
AX85 intersected the McVicar West shoot 25m below AX84 (2.5m @ 358g/t Au) and intersected 2.1m @ 18.0g/t Au. This includes 0.4m quartz reef at 14.5g/t Au, and 0.9m of acicular arsenopyrite mineralisation that assayed 32.1g/t Au.
Diamond drillhole AX89 was drilled 100m down plunge of AX84 and intersected a 3m strongly mineralised zone on the other side of an interpreted fault. The mineralisation was intersected around 40m west of AX84, but down plunge, indicating that displacement across the fault is strike slip.
If this interpretation is correct, then the Loftus-McKay shoot should have a similar displacement across the fault. This would put the surface expression of the reef track to the west of Pad 29 and Pad 45 and holes drilled from those pads (AX39, AX42, AX43, AX51, AX53 and AX56) would have been drilled into the footwall.
Holes drilled from Pad 44 (AX71, 73, 76 and 78) would have been drilled into the gap between the Loftus-McKay and McVicar West shoots. To test this interpretation the Loftus-McKay shoot can be targeted from Pad 44 with a lower angle hole.
The AX89 intersection comprised a 2.2m strongly mineralised zone with a 0.6m quartz reef with visible gold on the hanging-wall, followed by 1.6m of disseminated acicular arsenopyrite mineralisation. Assay results are awaited. This intersection extends the McVicar West shoot to 600m down plunge below Level 6 of the McVicar mine, with the McVicar East and West shoots combined now extending for 1.3kms below the outcrop. AX84 (2.5m @ 358g/t Au), AX85 (2.1m @ 18.0g/t Au) and potentially AX89 have intersected high grade mineralisation around the NW-SE trending fault.
AX45 (2m @ 26.8g/t Au) and AX47 (5m @ 9.1 g/t Au including 1.6m @ 27.9g/t Au) in the Loftus-McKay shoot also intersected high grade mineralisation adjacent to the fault.
High-grade mineralisation associated with NW-SE trending is recognised elsewhere in the goldfield i.e. Blackwater, Globe Progress and Lyell. Siren has estimated an Exploration Target at Alexander River of 500-700koz at 5-7 g/t Au. The Exploration Target includes mineralisation above 200mRL.
Entech are currently completing the maiden Mineral Resource Estimate (MRE) based on all holes drilled to the end of March. The MRE will be completed in May 2022. For further information please visit: https://www.sirengold.com.au/site/content/
