Siren Gold (ASX:SNG) is proceeding with a second diamond drillhole at its Sams Creek Project, aiming to explore deeper gold mineralization. The initial drillhole (SCDDH108) confirmed the northwest dip of the Sams Creek Dyke (SCD), intersecting 23 meters of the structure. The SCD contains gold-bearing arsenopyrite veins within plunging folds, resulting in concentrated mineralized zones.
The project currently boasts a mineral resource estimate (MRE) of 824,000 ounces of gold at 2.8 grams per tonne, utilizing a 1.5g/t cut-off. Mapping has identified a second antiform (A2 Antiform) parallel to the first at the Doyles prospect, with rock chip samples averaging 3.4g/t gold. Intersections of the A2 Anticline in previous drillholes, such as 11m at 2.01g/t gold and 13m at 3.14g/t, further support the prospectivity of the area.
The company believes that the exploration target holds the potential to expand the current MRE. Managing Director Victor Rajasooriar notes that rising gold prices, currently around US$3,275 an ounce, provide junior explorers like Siren Gold with the confidence to continue exploration efforts at the Sams Creek Dyke. Siren Gold, with a market capitalization of $12 million, is focused on gold and antimony discovery in New Zealand’s South Island.