Ann: Siren Strikes Significant Gold Mineralisation at Reefton, page-42

Interesting comment below from Siren's Successful IPO announcement in October, discussing the 1,200m long outcropping quartz mineralised zone.

It states "Previous explorers (CRAE) have also identified an auriferous halo of sulphide mineralisation around these quartz reefs"

This shows that the gold is not only restricted within the quartz in high grade concentrations, even though these surface quartz veins cover a large area of 1.2kms. As more drilling results are released to the market, and Mr Angus' interpretation of the gold zones is released, we'll get a better idea as to the grade of the gold surrounding the quartz.

Since it these sulphide mineralisations around the quartz are near or at surface, these areas around the quartz would be cheap to mine depending on the grades and if there has been any oxidisation. This would increase the overall JORC Gold Resource with continued drilling. By combining both the high grade quartz gold and lower grade sulphide mineralisation around the quartz zones.

As more drilling results are released, we'll get a better indication of these areas around the quartz.



Below is the Drill Rig team at Alexander River on Pad 8.



You can see in the map below, Pad 8 (red dot 8) is close to the Bruno Quartz Gold shoot and between the Bruno shoot and McVicar lode.




The cross section of the same area shows Pad 8 is drilling between the Bruno Quartz Gold shoot and the McVicar Lode, where previous high grade drilling and more importantly mining occurred at very high grades. From the McVicar quartz lode alone there was 41,000 Oz at 26.4grams per tonne of gold mined there. At today's gold price of $A2,500/OZ, that equates to gold sales of $A102million at very low all in production and processing costs.




As these additional drilling results are released by Siren over the coming weeks, we'll get a much better indication of the grades and intercepts that the old timers left behind and completely missed because of their limited exploration technology.

Siren may also find new high grade quartz gold lodes and shoots, previously undiscovered, since there hasn't been a lot of exploration conducted using the latest gold drilling and assaying techniques.