The gold price seems to be range trading between $US1,800-$US2,000/Oz, given the Penny West gold deposit was sold to Ramelius Resources for $228million when the gold price was only $US1,500/Oz, Siren Gold's gold deposit(s) (plural) look like they are going to unlock significant shareholder value for us shareholders. Siren Gold has the potential to find 4 or 5 of these types of deposits in NZ.
Siren Gold stated in the Significant Gold Mineralisation ASX announcement that drilling commenced at Big River in October 2020.
The second statement below seems to be quite interesting.
"Mapping at Big River discovered a large outcrop of the reef on the second anticline and comprised of ~1metre thick quartz reef surrounded by sulphide rich sediments, which contain areas of massive sulphide" This is at surface don't forget (see Figure 8) image below.
The final sentence states: "Drilling by the Company (Siren) commenced at Big River on 29 October 2020. To date, two holes have been completed. Both holes were drilled under the historical reef outcrop. Results are pending"
It seems that Siren Gold has completed two drill holes at Big River, beneath this exposed high grade quarts gold (Figure 8 below within the dotted lines) and beneath the surrounding massive sulphide sediment structure to see how deep and high grade the gold is in the ground.
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