https://www.theassay.com/news/siren-gold-drills-another-high-grade-intersection-at-alexander-river/Siren Gold Continues To Intercept High-Grade Gold In NZ
Siren Gold Limited (ASX: SNG) hasintersected a further high-grade zone at its Alexander River project in NewZealand.
Highlights
• Hole AX85 drilled in the McVicar West shoot intersected 2.1m @ 18.0g/t Au,including 0.4m quartz reef at 14.5g/t Au, and 0.9m of acicular arsenopyritemineralisation that assayed 32.1g/t Au.
• AX89, drilled 100m down plunge from the previously announced AX84 (2.5m@ 358g/t Au), intersected a 2.2m strongly mineralised zone,including a 0.6m quartz reef with visible gold. Assayresults are awaited. This intersection extends the McVicar West shoot to 600mdown plunge below Level 6 of the McVicar mine, with the McVicar East and Westshoots combined now extending for 1.3kms below the outcrop.
• AX89 intersected the reef around 40m to the west of AX84,indicating that the displacement of the fault is around 40m, which issignificantly less than previously interpretated. This means that theLoftus-McKay shoot would have been displaced by a similar amount and drillingon the NE side of the fault missed it.
Recent Exploration
AX85 intersected the McVicar West shoot 25m below AX84 (2.5m @358g/t Au) and intersected 2.1m @ 18.0g/t Au. This includes 0.4m quartz reef at14.5g/t Au, and 0.9m of acicular arsenopyrite mineralisation that assayed32.1g/t Au.
Diamond drillhole AX89 was drilled 100m down plunge of AX84 andintersected a 3m strongly mineralised zone on the other side of an interpretedfault. The mineralisation was intersected around 40m west of AX84, but downplunge, indicating that displacement across the fault is strike slip.
If this interpretation is correct, then the Loftus-McKay shootshould have a similar displacement across the fault. This would put the surfaceexpression of the reef track to the west of Pad 29 and Pad 45 and holes drilledfrom those pads (AX39, AX42, AX43, AX51, AX53 and AX56) would have been drilledinto the footwall.
Holes drilled from Pad 44 (AX71, 73, 76 and 78) would have beendrilled into the gap between the Loftus-McKay and McVicar West shoots. To testthis interpretation the Loftus-McKay shoot can be targeted from Pad 44 with alower angle hole.
The AX89 intersectioncomprised a 2.2m strongly mineralised zone with a 0.6m quartz reef with visiblegold on the hanging-wall, followed by 1.6m of disseminated aciculararsenopyrite mineralisation. Assay results are awaited.
This intersection extends theMcVicar West shoot to 600m down plunge below Level 6 of the McVicar mine, withthe McVicar East and West shoots combined now extending for 1.3kms below theoutcrop. AX84 (2.5m @ 358g/t Au), AX85 (2.1m @ 18.0g/t Au) and potentially AX89have intersected high grade mineralisation around the NW-SE trending fault.
AX45 (2m @ 26.8g/t Au) and AX47 (5m @ 9.1 g/t Au including 1.6m@ 27.9g/t Au) in the Loftus-McKay shoot also intersected high grademineralisation adjacent to the fault.
High-grade mineralisation associated with NW-SE trending is recognisedelsewhere in the goldfield i.e. Blackwater, Globe Progress and Lyell. Sirenhas estimated an Exploration Target at Alexander River of 500-700koz at 5-7 g/tAu. The Exploration Target includes mineralisation above 200mRL.
Entech are currently completingthe maiden Mineral Resource Estimate (MRE) based on all holes drilled to theend of March. The MRE will be completed in May 2022. For further informationplease visit: https://www.sirengold.com.au/site/content/
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