Highlights
- 5 diamond holes have been accomplished at Auld Creek with all 5 holes intersecting important mineralisation within the Bonanza East Shoot. Assay outcomes are pending.
- Excessive grade antimony evident in three holes (ACDDH011, ACDDH013 and ACDDH014).
- The Bonanza East mineralised zone was beforehand recognized in two trenches (BZTR0001; 6m @ 6.2g/t AuEq and BZTR008; 6m @ 5.6g/t AuEq) and drillhole ACDDH004 (2.6m @ 4.3g/t Au).
- The deepest gap ACDDH014 intersected the Bonanza Shoot roughly 75m under the floor and is open at depth.
- ACDDH011 additionally intersected the footwall of the Fraternal Shoot and the bottom of the block mannequin which can enhance the Fraternal MRE.
- Earlier drilling focused the Fraternal mineralised zone which has been drilled to 175m and is open at depth.
- Fraternal has an Inferred MRE of 66koz at 3.5g/t Au and eight.7kt at 1.5% Sb for 132koz of AuEq at 7.1g/t AuEq at a 1.5g/t AuEq cut-off.
- The Bonanza and Fraternal North mineralised zones are but to be drilled.
Government Chairman Brian Rodan commented:
“The latest spherical of drilling intersections continues to display the numerous upside potential of the Auld Creek Prospect and its potential so as to add significantly to the present high-grade Inferred useful resource of 132koz of AuEq at 7.1g/t AuEq with extra drilling. Earlier drilling outcomes returned excessive grade gold and antimony of 35.0m @ 11.0g/t AuEq (RDD087) and 20.7m @ 12.0g/t AuEq (ACDDH004) with the drilling additionally demonstrating appreciable thickness of the mineralisation intersected so far. The Auld Creek Gold – Antimony mineralisation hall extends for ~ 9km from Auld Creek south alongside Siren’s tenements and the potential for a big gold antimony useful resource on this space stays very excessive. The potential of the Auld Creek space to display appreciable sources of antimony which is significant to the worlds demand for vital minerals, can be a significant driver for rising shareholder worth, and might be a big new and precious vital mineral trade for New Zealand. At present, China, Russia & Tajikistan provide 90% of the world’s antimony and antimony is amongst few vital minerals that are listed on all the most important economies Essential Minerals lists Globally.”
Background
The Auld Creek Prospect is contained inside Siren’s Golden Level exploration allow and is located between the extremely productive Globe Progress mine, which traditionally produced 418koz @ 12.2g/t Au, and the Crushington group of mines that produced 515koz @ 16.3g/t Au.
Extra not too long ago Oceana Gold Restricted (OGL) mined an open pit and extracted a further 600koz of gold from decrease grade remnant mineralisation across 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) mineralisation that was probably offset to the west, alongside NE-SE trending faults between Globe Progress and Crushington.
Siren has acquired the Cumberland exploration allow that was a part of the Globe Progress mining allow. Siren now holds the bottom instantly to the north (Auld Creek) and south (Cumberland) of the Globe Progress mine.
The gold-antimony mineralisation extends from Auld Creek south by Globe Progress and the Cumberland prospects (Determine 1) and on to Massive River, a strike size of 12kms, with 9kms in Siren’s permits and 3kms within the remaining Globe Progress reserve space.
The Globe Progress mineralisation extends for over 200m vertically under the underside of the open pit earlier than it was offset by the Chemist Store Fault (CSF). The offset mineralisation on the opposite facet of the CSF has not been discovered.
Soil sampling and trenching at Auld Creek has outlined an arsenic soil anomaly over 700m alongside strike and clearly defines the Fraternal and Bonanza mineralisation (Desk 1 and Determine 2). The Fraternal zone has been subdivided into the Fraternal and Fraternal North zones and Bonanza into the Bonanza and Bonanza East zones. The Fraternal and the Bonanza zones dip steeply to the west, whereas the Bonanza East zone dips steeply to the east and seems to hyperlink the 2 west dipping mineralised zones (Determine 2).
Click on right here for the total ASX Launch
This text consists of content material from Siren Gold, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data supplied right here. Please consult with our full disclaimer right here.