Siren Gold Limited (ASX: SNG) has obtained further high-grade results from its Auld Creek Prospect in New Zealand.
Highlights
o Siren’s Auld Creek epizonal deposit at Reefton, New Zealand contains high grade gold and massive stibnite veins similar to the Costerfield and Fosterville mines in Victoria, Eastern Australia.
o The Auld Creek mineralization lies between the Crushington (515koz @16.3g/t Au) and Globe Progress (418koz @12.2g/t Au) historic mines.
o The gold-stibnite mineralization extends from Auld Creek, south through Globe Progress and Siren’s newly acquired Cumberland prospects, and on to Big River, representing a strike length of 12km (nine km in Siren’s permits).
o Recent trenching confirms exceptional high-grade gold-antimony mineralization at Auld Creek, which has been supported by re-assays of historical drillholes.
o Trench FTTR001 was previously reported as 6.0m @8.9g/t Au and 4.4% Sb for 15.8 g/t AuEq. This trench was extended and intersected an additional 2.4m of mineralisation, including a 1.0m thick stibnite rich zone that assayed 15.9% Sb and a 0.7m thick zone that assayed 123g/t Au, increasing the intersection significantly to 8.4m @19.7g/t Au, 5.3% Sb for 32.0g/t AuEq.
o Trench FTTR004 was previously reported as 4.0m @4.2 g/t Au, 0.36% Sb for 4.4g/t AuEq. This trench was also extended and intersected an additional 1.5m of mineralisation, increasing the intersection significantly to 5.5m @4.5g/t Au, 0.3% Sb for 5.1g/t AuEq.
o Diamond drillhole RDD0081 pulps were assayed for stibnite, returning 6m @1.75g/t Au, 2.0% Sb for 6.4g/t AuEq.
Background
The Auld Creek Prospect is contained within Siren’s Golden Point exploration permit and is situated between the highly productive Globe Progress mine, which historically produced 418koz @12.2g/t Au, and the Crushington group of mines that produced 515koz @16.3g/t Au.
More recently OceanaGold Limited (OGL) mined an open pit and extracted an additional 600koz of gold from lower grade remnant mineralization around the historic Globe Progress mine.
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
Infill soil sampling will be extended to the north and south of the Fraternal – Bonanza area.
Trenching
Trenching will continue, targeting 100m spacing along the Fraternal, Fraternal North and Bonanza mineralized zones.
Diamond drilling
A DoC Access agreement has been submitted, which will allow drilling of the Fraternal, Fraternal North and Bonanza Shoots, initially down to around 300m. The Energetic mine to the north was mined to around 600m below surface and the Globe Progress mine to the south was mined to 420m, where the mineralization was offset by the Chemist Shop Fault. The mineralisation on the other side of the fault has not been found.
Subject to further trench results, the initial drilling will focus on defining the extent (height) and plunge of the Fraternal, Fraternal North and Bonanza Shoots.
For further information please visit: https://www.sirengold.com.au/
