Siren Gold Limited (ASX: SNG) has identified further significant potential of its Auld Creek Prospect in New Zealand.
Highlights
• Siren’s first drillhole ACDDH004 in the Auld Creek prospect intersected both the Fraternal and Bonanza Shoots, based on core logging and spot pXRF analysis.
• ACDDH004 intersected a 20m thick Fraternal mineralized zone that contained stibnite cemented breccia on the hanging wall, with silicified disseminated acicular arsenopyrite mineralization containing numerous sheeted 1cm-5cm stibnite veins in the footwall1.
• The top of the Bonanza Shoot was also intersected, with a 3.7m thick brecciated zone containing disseminated arsenopyrite1.
• The thickness and consistency of the Fraternal mineralization is encouraging and consistent with recent trench intersections.
• Drilling is continuing with initial assay results expected in May.
“We are excited that our first drill hole at Auld Creek hit the type of mineralization we were targeting, with broad zones of mineralization evident. We have sent the core to the lab for priority testing and look forward to reporting assay results over the coming weeks,” Executive Chairman, Brian Rodan, said.
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 (OGL) mined an open pit and extracted an additional 600koz of gold from lower grade remnant mineralization around the historic Globe Progress mine. Collectively these mines produced 1.6Moz at 10g/t Au.
The Auld Creek Prospect represents high-grade gold-antimony (Sb) mineralization that was potentially offset to the west, along NE-SE trending faults between Globe Progress and Crushington. Siren has recently acquired the Cumberland exploration permit that was part of the Globe Progress mining permit. Siren now holds the ground immediately to the north (Auld Creek) and south of the Globe Progress mine.
The gold-antimony mineralization extends from Auld Creek south through Globe Progress and the Cumberland prospects and on to Big River, a strike length of 12 km with nine km in Siren’s permits and the remaining three km in the Globe Progress reserve area.
The Auld Creek arsenic soil anomaly now extends for over 700m along strike. Trenching along the soil anomaly has clearly defined the high-grade Au-Sb mineralization in the Fraternal, Fraternal North, Bonanza and Bonanza West Shoots.
For further information please visit: https://sirengold.com.au
