If you look at these two pages below from Siren's August company...

If you look at these two pages below from Siren's August company presentation.

Siren's technical director Paul Angus, will be targeting new gold discoveries within new gold shoots and gold lodes, as well as drill out what the old timers considered "low grade gold" back during the early 1940s, and they didn't bother mining, which today is considered high grade gold.

If you look at Siren's presentation below, Mr Angus will be drilling under glacial moraines. These are areas of dirt, rock and debris, that glaciers over time have slowly moved and covered, in this case, new previously undiscovered quartz outcrops with high grade gold in them. see image below about how these glacial moraines form.



This is what Siren's technical Director and the drill team will be targeting for new high grade gold discoveries, while also drilling at depth of historic mining areas.

Siren states below that high grade gold containing Greenland Group rocks that produced 938,000Oz, West of Globe Progress mine, another 740,000Oz at 14.6g/t South of the Blackwater mine, lie beneath a glacial moraine, which masked the outcrops from the old timers and no historical production.




In addition to the new gold shoots above, at Big River below, pre 1942, where 136,000Oz of gold (worth $A340million today) was mined at over 1Oz/tonne 34.1grams/tonne, the old timers used a 15grams per tonne cut off.

This means they ignored anything with less than 15grams per tonne...all this gold still lies in the ground for Siren to drill, build a resource with and build a mine(s).

The higher the gold grade and at or near the surface, the lower the cost and time to build an underground mine. There is definitely the potential for a small scale mine to be constructed, which would yield enough gold for Siren to build larger mines especially within the 1,200m outcropping quartz region at Alexander River.



The difference between 100,000Oz, for example, at 15grams per tonne and 100,000Oz at 2grams per tonne, where most gold mines are found to be profitable, is as follows:

@15grams per tonne gold: 100,000Oz of gold (worth $A250million) x 31.1 grams gold = 311,000 grams of gold /15grams of gold head grade = only 207,333 tonnes of rock required to mine, extract, crush and process.

@2grams per tonne gold: 100,000Oz of gold (worth $A250million) x 31.1 grams gold = 311,000 grams of gold / 2grams of gold head grade = 1,555,000 tonnes of rock required to mine, extract, crush and process.

A much smaller capital expenditure is required for the high grade gold at15gram/tonne gold deposit compared to the 2gram/tonne gold deposit.

Especially when all that high grade gold is structurally controlled within the quartz at surface or within 50-75metres of the surface. Let alone a much lower all in sustainable cost to process the gold.

There is definitely the expectation from Siren for multiple new gold discoveries via these gold bearing quartz shoots and loads, as well as extensions along strike and at depth of historic mining for high grade gold.

I'm looking forward to seeing these upcoming drilling assays, we'll get a better idea of the size and grade of gold left by the old timers in the ground. Judging by the information above, it looks like they ignored anything below a very high grade 15grams/tonne of gold and completely missed entire regions where Siren is drilling now.