Siren Gold (SNG:ASX) has high quality gold and antimony deposits in New Zealand. Reefton Goldfields extend over 50 km. It may contain ~5% of the world's antimony resources.
Drilling focuses on upgrading several high-grade deposits. Drilling at Auld Creek delivers bonanza grades. Drilling at Sams Creek resumes this June quarter. New Zealand has fast-tracked programs, including SNG's Reefton project and Sams Creek.
Key Points
Auld Creek
- Bonanza Shoot delivers
- ACDDH016 22.2m at 7.2 grams per tonne gold (g/t Au) and 0.3% antimony (Sb) from 67m (10m true width) — announced yesterday
- ACDDH015 12.4m at 5.3g/t Au and 14.9% Sb from 69m (6m true width) — earlier in March quarter
- Fraternal Shoot delivers (intersected in same hole)
- ACDDH015 23.0m at 4.0g/t Au and 0.22% Sb
- Resource upgrade from 66koz at 3.5g/t Au and 8.7kt at 1.5% Sb expected later in 2024
Sams Creek
- Ion leach soil sampling extended, and Anvil prospect enhanced
- Next stage drilling underway.
NZ Fast Track
- New Government announces Fast Track Processing and includes Reefton and Sams Creek
- These projects are recognized as important resource developments
Siren Gold is an active explorer in South Island, New Zealand, with its Reefton Gold and Antimony Project and Sams Creek Gold porphyry dyke.
The Reefton Project is developing into a series of high-grade underground resources that will feed into a central mill.
The current focus is on the Auld Creek prospect, where 132kozAuEq has been defined in reefs with high-grade gold and high-grade antimony.
Auld Creek
Auld Creek extends over 700 meters north-south and is split into the Fraternal and Bonanza Shoots. Siren has drilled two diamond holes in 2024 and expects to complete the eight-hole program this year. The results to date have been very encouraging and should ensure that a larger resource then the 132koz AuEq to date. The significance of the Antimony is growing and there is a worldwide search for new Antimony deposits that are outside of China.
This Reefton region may contain as much as 5% of the world's Antimony resources.
Sams Creek
The Sams Creek Gold Project is located 140 km NE of Reefton and 100 km NE of Lyell. The mineralization is contained within a hydrothermally altered peralkaline granite porphyry dyke.
The Sams Creek Dyke is up to 60m thick and can be traced E-W for over 7kms along strike. The dyke generally dips steeply to the north with gold mineralization extending down dip for at least 1km, and it is open at depth.
Sams Creek has a Resource of 820koz at 2.8g/t. Ionic soil sampling during the quarter over the Anvil Prospect to the east and outside of the current resource was encouraging. Drilling resumed during the quarter.
Sams Creek Project
SNG has already signaled the goal of 2.5-3.0moz within 24 months.
SNG Downward sloping wedge — being resolved top the upside.
Head the markets, not the commentators.
Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter.
Subscribe
Important Disclosures:
-
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
