Ann: Siren Strikes Significant Gold Mineralisation at Reefton, page-90

The drill team and Paul Angus have done an exceptional job, we cannot complain about them. The labs must be pretty busy, so hopefully they can catch up to the drill team's exceptional output, soon.

I went through Siren's website and under projects Alexander RIver (link below), where they compare Siren Gold's Alexander RIver which Paul Angus believes has a strike length of 1,200metres compared to Federation Gold's Blackwater 900m strike length (which contains 600k Oz of Gold ($A1.47Billion worth of Gold) @ 23grams/tonne of gold.

If Siren Gold does confirm a 1,200metre strike length with 10+grams tonne of gold near surface at Alexander River, then this deposit alone (excluding the other 3 high grade gold deposits that Siren is drilling and trench sampling Big River, Lyell and Reefton South), will be very valuable to Siren Gold shareholders. It would also mean a low capex and a very low opex gold mine with such rich gold so shallow in the Earth.

Our Projects | Siren Gold

Alexander River(Siren Gold)

• 1,200m strike length
• Historical production of 41koz @ 26.4g/t Au (ceased during WWII)
• McVicar Lode mined to 250m and current depth potential unknown
• Alexander River potentially larger than Blackwater due to increased strike length (800m - 1,200m).

Blackwater
(Federation Gold)

• 800m long strike length.
• Historical production of 1.58Mt @ 14.6g/t Au for 740koz to 700m depth
• Mined to 700m and open at depth to 1,500m
• Resource of 700koz to a depth of 1,500m (0.9Mt @ 23g/t Au)
• Federation Gold agreement withOGCto purchase asset and provide first US$5m funding
• Mining permit approved (6 months)
• Provincial growth fund have provided a $15m loan

1,200metre strike length at Alexander River



900metre strike length at Blackwater



The reason why I mention this, as an example, this Cat 785C truck below can hold 360 tonnes of rock with each haul.

At ~10grams per tonnes of gold that equates to 3,600grams of gold (115 Oz of Gold) worth over $A283,400 per truck load.....with Oceana's Gold Processing plant only 20kms away,

Since the gold is at and near surface, Siren could, in theory, begin early gold mining. They could hire 5-6 trucks, excavators, rock crushers etc.

Start with 30+ gold truck hauls per day to the processing plant.

30 truck hauls per day at $283k worth of gold per truck haul, would generate $A8.5million in gold sales each day. In a 5 day week, that is over $A42million in gold sales revenue.

If the gold grades are actually closer to what the old timers mined, at 15grams per tonne, we can increase these numbers above by 50%.

And that is from only one of Siren's high grade at or near surface gold deposits.

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