Ann: Siren Discovers New Mineralised Shoots at Alexander River, page-5

There are some very impressive drilling and trench results to date.

The current gold price is at $A2,283/Oz, Alexander River is fast becoming a high profit margin, low capex gold deposit. I wonder what the catalyst will be for Alexander River to become a gold mine? Is there enough information/drilling and trench sample data to release a maiden JORC and apply for a mining license? Or is more drilling required?


Diamond Drilling

Diamond drilling commenced at the Alexander River Project in September 2020 with 30 holes completed for a
total of 2,575m (Table 1). Results have been received for 24 holes drilled from 13 pads (Table 2). Results have
recently been received for AXDDH023 – AXDDH031.

• AXDDH024 was drilled from Pad 9 below Trench L (6.4m @ 5.2/t Au) and underground sampling in Bruno
No1 adit (3m @ 19g/t Au). AX024 intersected 1.5m @ 11.5g/t Au from 23m and was drilled into the
interpreted bottom of the Bruno shoot (Figures 1 and 3). This hole was drilled within 25m of OceanaGold
(OGL) hole AX05 which intersected 1.5m @ 13.4g/t Au.

• AXDDH030 was drilled from Pad 12 into the bottom of the Loftus McKay shoot and intersected 1.8m @ 6.7
g/t Au (Figures 1 and 4). Drillholes 27, 28 and 29 were also drilled off the same pad and intersected the reef
track below the shoot.

• AXDDH031 was drilled from Pad 13 into the bottom of the Loftus McKay shoot and intersected 2.7m @ 2.5
g/t Au. A 200mm quartz vein at the bottom of the intersection assayed 8.9g/t Au. Unfortunately, the bottom
400mm of this vein was lost. If this core had been recovered the intersection grade would have been higher.

• AXDDH034 was also drilled off Pad 13 approximately 50m below AXDDH031 (Figures 1 and 5). This hole
intesected a 2.5m mineralised zone, comprising a 0.6m quartz reef with acicilar arsenopyrite mineralised
greywacke in the footwall (Figure 6).

• AXDDH035 and AXDDH036 were drilled from Pad 27. AXDDH035 intersected a broad zone of
mineralisation between 43m and 59m (16m), with stronger quartz arsenopyrite mineralised zone between
47.5m and 50.0m. AXDDH036 intersected a similar zone between 62.5m and 65.0m.


AXDDH037 is currently being drilled but is expected to intersect the reef track just below the shoot (Figure 1).
After AXDDH037 is completed the drilling rig will systematically move down through the pads to the NE, with
proposed hole intersections shown on Figure 1. These holes can be drilled from the currently consented pads
and will test the both the Loftus McKay and McVicar West shoots down plunge for around 500m. If the oreshoot
continues further NE then additional pads will be required.