Siren Gold Ltd Achieves Deep Drilling Success at Sams Creek

Siren Gold Hits Milestone with Deep Drilling Success at Sams Creek

Siren Gold Limited (ASX: SNG) has announced a significant development at its Sams Creek Gold Project in New Zealand, with the successful intersection of the Sams Creek Dyke (SCD) at a depth 150m below previous drilling. This achievement reinforces the company's geological model and opens up potential expansion opportunities for the project's existing 824,000 ounce gold and silver safe haven resource.

Key Drilling Success Validates Geological Theory

Siren's diamond drillhole SCDDH108 successfully intercepted the Sams Creek Dyke between 487m and 510m downhole, revealing a substantial 23m thick section of the mineralised structure. The significance of this intersection is twofold:

1. It confirms the company's geological interpretation that the SCD continues at depth within a second fold hinge known as the A2 Antiform
2. The footwall section contained fine arsenopyrite veinlets similar to those seen in previous high-grade holes, with portable XRF readings showing arsenic values up to 25,000 ppm – a promising indicator for gold mineralisation

This intersection is particularly important as it was located approximately 150m below the deepest previously drilled hole (SCDDH091), which returned an impressive intercept of 13m @ 3.14g/t gold.

Managing Director and CEO Victor Rajasooriar highlighted the significance: "The intersection of the Sams Creek Dyke some 150m below the previously drilled hole making up the MRE is quite exciting and proves that our geology team are on the right track in unlocking the gold contained within the broader Sams Creek Dyke."

Understanding Fold-Controlled Gold Mineralisation

The Sams Creek Project's gold mineralisation is structurally controlled, preferentially forming in fold hinges or "antiforms" where conditions favour the development of arsenopyrite veins containing gold. The geological model indicates:

• The existing 824,000oz @ 2.8g/t resource is largely contained within the A1 Antiform, which plunges approximately 40° to the northeast
• This A1 structure extends for over 1.5km and remains open at depth
• The newly confirmed A2 Antiform represents a similar fold structure with potential for additional gold resources
• Rock chip samples from the A2 Antiform's surface exposure averaged 3.4g/t gold

The new drilling confirms that this second fold structure persists at depth and maintains its gold-bearing potential, creating a compelling exploration target that could significantly expand the resource base. Similar porphyry and epithermal deposits often demonstrate this kind of structural control on mineralisation.

Exploration Upside in the A2 Antiform

Siren Gold Ltd deep drilling success at Sams Creek has opened up a significant exploration target below the current resource. The company has outlined plans to further test this target with three additional drillholes:

1. A northern hole (100m north of SCDDH108)
2. An eastern hole (~200m east of SCDDH108)
3. A western hole (~200m west of SCDDH108)

These strategic holes aim to define the extent of the A2 Antiform structure and evaluate its gold mineralisation potential. The eastern hole would intersect the structure approximately 200m down-dip from previous high-grade intercepts including 49m @ 2g/t Au (including 15m @ 3.4g/t Au) in SCDDH050.

Project Context: The Sams Creek Gold Resource

The Sams Creek Project represents Siren Gold's flagship asset, located in Golden Bay at the northern end of New Zealand's South Island. The project currently hosts:

• A Mineral Resource Estimate of 824,000 ounces @ 2.8g/t gold (at 1.5g/t cut-off)
• The resource is contained within the Sams Creek Porphyry Dyke that extends for 7km along strike
• Siren Gold owns 81.9% of the project, with OceanaGold holding the remaining 18.1%

The mineralisation occurs predominantly within thin (1-15mm) sheeted quartz-sulphide veins that crosscut the dyke, with gold associated with arsenopyrite. Moreover, advanced mining automation technologies could potentially enhance the extraction efficiency at projects like Sams Creek in the future.

Why Investors Should Take Note

The Siren Gold Ltd deep drilling success at Sams Creek represents a meaningful catalyst for the company for several reasons:

1. Expansion Potential: The confirmation of the A2 Antiform at depth suggests significant potential to expand the existing resource base, potentially adding substantial ounces to the project.

2. Geological Validation: The intersection validates Siren's geological model, demonstrating the company has a solid understanding of the deposit's structural controls.

3. Depth Continuity: The mineralised dyke now extends to at least 500m below surface and remains open, suggesting a robust system with considerable vertical extent.

4. Strategic Timing: This success comes just after Siren's recent completion of a Scoping Study and Mining Permit Application (announced April 3, 2025), providing potential upside to the project economics.

Investors should monitor the upcoming assay results from SCDDH108, which will provide confirmation of the gold grades associated with the observed arsenopyrite mineralisation. The planned follow-up drilling programme will also be critical in determining the full potential of this newly confirmed exploration target.

With a current resource of 824,000 ounces and clear opportunities for expansion following the Siren Gold Ltd deep drilling success at Sams Creek, the company is positioning itself as a significant gold developer in a tier-one mining jurisdiction. This development parallels other successful copper-gold mine discoveries seen elsewhere, though in a different geological setting. Furthermore, this project represents an attractive mining investment opportunity in the broader Asia-Pacific region.

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