In a second April ASX update, Siren Gold announced it has committed to a second deep drillhole to expand its Sams Creek Project.
In February, drilling recommenced at Sams Creek, targeting the A2 Antiform below SC90 and SC91. The first hole SCDDH108 (currently awaiting assays) successfully intersected the Sams Creek Dyke (SCD) containing fine arsenopyrite veinlets similar to that intersected in SCDDH091 (13m 3.14g/t Au).
Siren has now committed to a second deep drillhole, SCDDH109, that is targeted to intersect the Sams Creek Dyke 100m to the north and down dip of SCDD108.
Siren Managing Director and CEO, Victor Rajasooriar commented: “We look forward to SCDDH109 intersecting the SCD below known mineralisation and further confirming the A2 Antiform Exploration Target that has the potential to significantly increase the MRE at Sams Creek. In recent times we have seen the gold price reach new highs and this gives junior explorers such as Siren the confidence to continue exploring the Sams Creek Dyke.”
The diamond drillhole is being drilled by Alton Drilling Ltd, and in this ASX update Alton has indicated a willingness to accept equity as part-payment for its drilling services and will be issued Siren shares at a deemed issue price of $0.055 per share. The equivalent value of shares issued will be capped at a maximum amount of NZD $40,000.
Work over the next 6 months will include planning out and commencing an infill drilling program to convert the majority of the Inferred resource to Indicated.
Find out what you can do to protect our waterways and community from potential environmental harm caused by any mining activities or accidents – https://samscreek.nz/take-action/
