Siren Gold Continues to Deliver High-Grade Gold Hits in New Zealand Drilling Campaign
Siren Gold has initiated a new infill drilling program at its Sams Creek gold project, located in the scenic Golden Bay region at the top of New Zealand's South Island. This campaign is designed to enhance the company's gold resource estimates and move towards higher-confidence categories.
Initial Assay Results Show Promising Gold Grades
The first six holes from a planned near-20-hole program at the SE Traverse and Carapace deposits have yielded solid results. Notable intercepts include 4.8 metres grading 4.39 grams per tonne (g/t) gold from a depth of 53.6 metres and 4.2 metres at 3.25 g/t from 21.9 metres. These findings are part of efforts to convert the SE Traverse inferred mineral resource, which currently stands at 146,100 ounces with a grade of 3.56 g/t, into the indicated category.
Expanding the Sams Creek Resource Base
The Sams Creek project overall hosts an 824,000-ounce gold resource at an average grade of 2.82 g/t, spread across multiple deposits including Main Zone, SE Traverse, Carapace, and Bobby Dazzler. The Main Zone contributes the majority, with 625,600 ounces in inferred and indicated classifications. Previous drilling has revealed high-grade intervals such as 37 metres at 3.26 g/t and 25.8 metres at 4.41 g/t.
According to Siren Gold, the current drilling is infill-focused, conducted entirely within the existing mineral resource footprint without extensional holes. This program aims to gather geotechnical and metallurgical data to support future technical studies and an updated scoping study. Management expects to complete drilling by the end of April, with further results and an upgraded resource anticipated by the end of September.
CEO Comments on Progress and Future Plans
Siren Gold CEO Zane Padman highlighted the progress, noting that "SE Traverse is a large, shallow-dipping part of the ore system amenable to open pit mining. It is encouraging to see drilling progressing well and assay results being received as planned." Currently, two rigs are operational at Sams Creek, with 15 drillholes completed for 893 metres, representing over half of the planned program.
The company is also planning additional exploration at Doyle's fold, located 500 metres west of the Main Zone, to potentially unlock new mineralised areas. Previous deep drilling at Doyle's confirmed mineralisation up to 700 metres below surface, with recent results including a 19-metre stretch assaying 1.3 g/t gold. Siren Gold believes other prospects like Riordan's, Western Outcrops, Anvil, and Barron Flats could further boost the project's inventory.
Strategic Developments and Joint Venture Details
In a significant step towards development, Siren Gold has lodged a mining permit application, marking a potential transition from explorer to producer. The Sams Creek project is a joint venture with Canadian-listed Oceana Gold Corporation, with Siren holding an 81.9% stake and Oceana 18.1%.
Additionally, the company's Langdons gold and antimony project, 50 kilometres southwest of Reefton, has shown promising results from recent fieldwork, including channel samples up to 38.5 g/t gold and float samples with spectacular grades of 506 g/t gold.
Upgrading resources at Sams Creek could position Siren Gold as a key player in New Zealand's expanding gold sector, highlighting the project's potential for serious market impact.
