The drilling program is a means to an end. The 3 assays should...

The drilling program is a means to an end. The 3 assays should contain very high grade gold since they contain visible gold in the cores.

It is those 3 drill cores as well as all the other drill cores that have been drilled since August at Alexander River, when that announcement was made, will be used to bank the gold for the Maiden JORC Resource for Siren Gold and subsequent JORC Resource Upgrades.

That is the key here. Then we will see significant rerating for Siren and subsequent reratings as each JORC Upgrade is made, due to the high grade of gold as part of that JORC Resource, structurally controlled within the quartz shoots and lodes and halo rock surrounding the quartz.

Siren Gold's market cap is still only $30million, yet, even if they only release a Maiden JORC Resource between now and Christmas of 589,000 Oz at 6.5g/t (down 500metres into the quartz or 350metres from surface) as per below.

This alone is worth $A1.4Billion. If you estimate a low ~$A1,000/Oz AISC this still leaves gross profit margin per OZ at ~$A1,400.

$A1,400 Gross Profit / Oz x 589,000Oz = $824million gross profit. Compared to today's market cap of only $30million at 38c share price.

Then, as per below, you include the 1,128,000Oz at a higher grade 6.6g/t down 1,000into the quartz or 800metres down from surface. If you estimate an ASIC of $A1,100/oz. These deposits run down 2,500metres and get richer the deeper you mine.

$A1,400 Gross Profit / Oz x 1,128,000Oz = $1.58 Billion gross profit. This is from Alexander River alone. Big River and Lyell are all in addition to these numbers.

Compared that to today's market cap of only $30million at 38c share price. This is why I believe a mid cap or large cap gold miner will either take over Siren entirely or complete a farm in JV.

NZ heeds the call of Siren Gold - Mining Journal (mining-journal.com)

"Siren Gold is operating in one of the last great underdeveloped goldfields in the world and we have achieved a lot in a very short period of time. Siren has been drilling quite strongly since we started with 59 diamond holes for 7,573m so far, and getting good results,"

Angus said. "We expect to continue with further drilling success at both Alexander River and Big River, as well as targeting a maiden resource at Alexander River around the end of the year."As the company looks ahead to the future, Siren Gold has just one final comment for all gold bull investors: watch this space.