It was good to see Siren Gold get a mention on * yesterday.
I'm looking forward to see the next batches of gold drilling results, especially from their thick mineralised zone in the Loftus-Mullocky creek area and Big River. I'm also looking forward to seeing if there is any news on possible early gold production and an early JORC resource from these high grade surface gold zones, high grade gold lodes and high grade gold shoots near surface. The fact that the vast majority of gold is structurally controlled in the quartz, means very low capital expenditure is required for a gold mine to come into operation. Especially with gold processing facility less than 20km away, owned by Oceana Gold.
The current market cap of $62million (81c) is significantly undervalued when you compare Siren's Gold Grades near surface to other gold deposits that were transacted in the last 12-24 months.
The top 50 ASX gold stocks that won November - *Nipping at Gateway’s heel is Siren Gold (ASX:SNG), which rose 79 per cent on the back of some tidy high-grade gold hits at its Alexander River project in New Zealand.
Its maiden drill program intersected the historical high-grade quartz reef and thick sulphide mineralisation in the footwall of the reef.
Top hits are 8.5m at 11g/t gold from 25m and 7.6m at 7.8g/t gold from 28.2m.
Surface channel sampling conducted along the 1,200m Alexander River reef outcrop has also exposed a thick mineralised zone in the Loftus-Mullocky creek area.
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