Siren Gold Limited (ASX: SNG)
Announced a JORC (2012) Mineral Resource Estimate (MRE) for the Supreme Gold Project in Reefton, New Zealand.
Mineral Resource Estimate (MRE) at Siren’s Supreme prospect of 103koz at 2.7g/t Au at a 1.5g/t cut-off.
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Comment
Siren Gold is a stock on our early stage watchlist, mainly due to it being in New Zealand, an unknown province for gold exploration in the UK as far as I can see.
Their projects are located in a highly prospective area with former gold production, and are well worth keeping an eye on in my opinion.
Siren Gold’s Global Resource increases to 1.2 Moz
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Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to announce a JORC (2012) Mineral Resource Estimate (MRE) for the Supreme Gold Project in Reefton, New Zealand.
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Highlights
• Mineral Resource Estimate (MRE) at Siren’s Supreme prospect of 103koz at 2.7g/t Au at a 1.5g/t cut-off.
• Supreme lies within the recently acquired Cumberland tenement along the main structural corridor that hosts all the larger mines in the Reefton Goldfield, and links through Globe Progress to Siren’s very promising Auld Creek Au-Sb prospect.
• Mineralisation is a similar style to the historical Globe-Progress mine that produced 1.1Moz @ 6g/t Au.
• The MRE based on historical data down to only 200m depth with significant intersections including:
• 14.0m @ 3.5g/t Au;
• 14.0m @ 3.2g/t Au;
• 29.0m @ 2.6g/t Au;
• 10.0m at 3.5g/t Au, and
• 9.5m @ 4.1g/t Au.
• The Supreme deposit remains open at depth, with significant potential for increased gold resources from additional exploration drilling.
• Siren’s Global Mineral Resource now stands at 1.2Moz at 3.1g/t Au (100% basis).
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Background
The Cumberland permit comprises the northern and southern areas of the previous Globe Progress mining permit.
The Cumberland permit joins Siren’s Big River, Golden Point and Reefton South permits and abuts the Federation Mining permit, where they are currently developing
the Snowy River underground mine to extract around 700koz of gold below the historic Blackwater mine.
Gold bearing reefs in the Cumberland project area were first discovered at Supreme in 1872 and mining proceeded from then until 1923 when Sir Francis Drake mine closed. Relative to the rest of the Reefton Goldfield, the historical Cumberland mines were undercapitalised.
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To read the full news release please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Siren Gold
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