Siren Gold Limited (ASX: SNG) has intersected gold in all five holes at its Auld Creek Prospect in New Zealand.
The recent round of drilling intersections continues to demonstrate the significant upside potential of the Auld Creek Prospect and its potential to add considerably to the current high-grade Inferred resource of 132koz of AuEq at 7.1g/t AuEq with additional drilling,” Executive Chairman, Brian Rodan, said.
“Previous drilling results returned high grade gold and antimony of 35.0m @ 11.0g/t AuEq (RDD087) and 20.7m @ 12.0g/t AuEq (ACDDH004) with the drilling also demonstrating considerable thickness of the mineralisation intersected to date.
“The Auld Creek Gold – Antimony mineralisation corridor extends for ~ 9km from Auld Creek south along Siren’s tenements and the potential for a significant gold antimony resource in this area remains very high. The potential of the Auld Creek area to demonstrate considerable resources of antimony which is vital to the worlds demand for critical minerals, will be a major driver for increasing shareholder value, and could be a significant new and valuable critical mineral industry for New Zealand.
“Currently, China, Russia & Tajikistan supply 90% of the world’s antimony and antimony is amongst few critical minerals which are listed on all the major economies Critical Minerals lists Globally.”
The Auld Creek Prospect is contained within Siren’s Golden Point exploration permit and is situated between the highly productive Globe Progress mine, which historically produced 418koz @ 12.2g/t Au, and the Crushington group of mines that produced 515koz @ 16.3g/t Au.
More recently Oceana Gold Limited (OGL) mined an open pit and extracted an additional 600koz of gold from lower grade remnant mineralisation around 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
potentially offset to the west, along NE-SE trending faults between Globe Progress and Crushington.
Siren has acquired the Cumberland exploration permit that was part of the Globe Progress mining permit. Siren now holds the ground immediately to the north (Auld Creek) and south (Cumberland) of the Globe Progress mine.