Too true fullmetal.
After reading BR's letter below, there is the possibility of a new gold discovery or multiple new gold discoveries too.
Can you imagine if Siren does discover a new high-grade new discovery at let's say 20-35grams per tonne gold?
There is also a lot of geological mapping included in the AR, discussing the upcoming drilling programs.
I'm looking forward to the next batch of drilling results from those quartz lodes and shoots from Siren.
I also like the sound of the following:
1. "rediscovery of the previously little known outcropping quartz reefs"
2. :I would like to take this opportunity to reinforce and remind investors of the significant and largely undiscovered exploration potential of the Reefton Gold Field in which Siren Gold owns such a substantial tenement package.
3. "outcropping quartz reefs that delivered highlights of 14m @ 6.5g /t and 8m @ 4.1 g/t,"4.
"The Reefton Gold Field was discovered in 1866, with the Reefton Structural corridor extending for 35 km in length and hosting 84 gold mines, some being mined to over 600m in depth. These mines all closed during World War 2 (around 1944), having produced more than 2m oz of gold at an average “recovered” grade of 16 g/t. The last remaining mine, “ Blackwater “, closed in 1951. The gold price during these times was generally sub $50/oz."
5. "truly exceptional Reefton Gold Field has not been fully and properly revealed in modern times and when we fast forward to 2021 with a gold price hovering around A$2,000 per oz, the scene is set for the fantastic opportunity of a major gold discovery for Siren Gold and its shareholders.SIREN GOLD LIMITED FINANCIAL REPORT
A.C.N. 619 211 826 31 December 2020
4 | P a g e
Chairman’s Letter
Dear fellow Stakeholders ,
I take great pleasure in welcoming you all to read our Company’s first annual report as a listed company.
What a very busy and exciting time it has been since Siren Gold listed on the ASX on 7 October 2020, following a successful $10m IPO.
During that period, Siren has:
• brought together and established a very experienced, focused and energetic geological team;
• mobilised our drilling contractor to site; and
• commenced drilling with two rigs on our key projects at Alexander River and Big River on the Reefton
Gold Field, located in the South Island of New Zealand.
In addition to the exploration drilling completed thus far, our teams have also conducted a significant amount of geological mapping over large portions of the tenement area, which also included the re-discovery of previously little known outcropping quartz reefs, whilst also completing soil and rock chip sampling over large tracts of our large ~850 km² tenement package. The very positive early exploration results achieved to date bode extremely well for the Company's prospects.
At the Alexander River project Siren’s initial shallow drilling results included 8.5m @ 11.0g/t and 7.6m @ 7.8g/t, and at the Big River project, Siren drilling crews intersected 6m @ 5.1g/t and 8m @ 2.9g/t. These results also compliment and compare very favourably with historical drillingconducted nearby that included 20m @ 8.1g/t and 6.6m @ 21.4g/t.
These drilling results, along with the surface rock chip sampling work conducted over outcropping quartz reefs that delivered highlights of 14m @ 6.5g /t and 8m @ 4.1 g/t, provide substance and encouraging signs for Siren Gold's ongoing and targeted exploration program.
I would like to take this opportunity to reinforce and remind investors of the significant and largely undiscovered exploration potential of the Reefton Gold Field in which Siren Gold owns such a substantial tenement package.
The Reefton Gold Field was discovered in 1866, with the Reefton Structural corridor extending for 35 km in length and hosting 84 gold mines, some being mined to over 600m in depth. These mines all closed during World War 2 (around 1944), having produced more than 2m oz of gold at an average “recovered” grade of 16 g/t. The last remaining mine, “ Blackwater “, closed in 1951. The gold price during these times was generally sub $50/oz.
Though the historical miners were hard working and very efficient, to remain economic they typically mined the reef as narrowly as possible to maintain high grades, as a result of which all ore grading below 15g/t was left behind, unmined. Our awareness of these unmined portions of ore bodies on the various historical mines, together with subsequent advancements in soil sampling and exploration drilling techniques, have left us with a plethora of exploration opportunities for Siren Gold shareholders over the coming years.
It is also worth noting that the Reefton Gold Field is acknowledged as having once formed part of the huge Victorian Gold Field in Australia and Reefton has many geological similarities to one area in particular that hosts the ~4.5M oz Fosterville Gold Mine, located ~20km from Bendigo, a world-renowned gold producing province.
In my view, the exploration potential of the truly exceptional Reefton Gold Field has not been fully and properly revealed in modern times and when we fast forward to 2021 with a gold price hovering around A$2,000 per oz, the scene is set for the fantastic opportunity of a major gold discovery for Siren Gold and its shareholders.
On behalf of the Board of Directors I would like to thank all stakeholders for their support during and since the IPO and I also encourage all shareholders to be patient and place their trust in the skill, diligence and commitment of a very focused Siren Gold Exploration team.
Brian Rodan
(20min delay)