Siren Gold Ltd Reveals High-Grade Discovery at New Zealand Project

Record-Breaking Gold and Antimony Prices Create Perfect Market Conditions

With gold recently hitting an all-time high of US$3,300/oz and antimony prices soaring to approximately US$50,000/t, Siren Gold Limited (ASX: SNG) is ideally positioned to capitalise on strong market fundamentals for both commodities. This price environment creates an exceptional opportunity for the company to advance its multi-commodity strategy across its New Zealand project portfolio.

Antimony has become increasingly critical to global supply chains, with China and Russia controlling approximately 82% of global production. The metal features prominently on critical minerals lists in Australia, the USA, Canada, Japan, and the European Union due to its importance in:

• Energy transition technologies including lithium-ion and next-generation liquid metal batteries
• Semiconductor manufacturing
• Defence applications
• Flame retardants and other industrial uses

Stunning High-Grade Results Confirm Historical Potential

Recent sampling at the Langdons Antimony Lode has returned exceptional assays including:

• Gold grades ranging from 4 to 506 g/t Au
• Antimony grades up to 9.3%

These results validate historical production reports from the late 1800s, when the mine produced 1,586 oz of gold from just 809 tons of ore at an average grade of 60 g/t Au.

The Langdons Quartz Reef, located approximately 90 metres below the Antimony Lode, was found to contain at least 1.2 metres of puggy quartz breccia with disseminated pyrite and arsenopyrite, assaying 4.5 g/t Au.

Additionally, trenching across the Liberty Reef outcrop, located 200 metres southeast of the Langdons Quartz Reef, returned 1.75m @ 4.5 g/t Au. These findings align with other high-grade gold discoveries being made across the region.

Strategic Exploration Model Points to Significant Expansion Potential

The company's technical team has identified that the Langdons mineralisation is centred around a tightly folded antiform, similar to the rich deposits in the Reefton goldfield. This geological model provides a clear framework for future exploration.

Soil geochemistry has outlined anomalous gold and antimony values along a 400-metre trend of the outcropping antiform hinge. More significantly, Ionic Leach soil geochemistry has detected gold-antimony mineralisation extending a further 200 metres northwest along the fold hinge under cover rock, suggesting substantial expansion potential.

Understanding Ionic Leach Geochemistry: A Window Into Hidden Mineralisation

Ionic Leach is an advanced geochemical sampling technique that can detect mineral signatures that conventional methods might miss, particularly when deposits are covered by overlying rock or soil.

Unlike traditional soil sampling that primarily detects physically transported mineral particles, Ionic Leach targets the loosely bound ions that have migrated upward from deeper mineralisation through groundwater movement and electrochemical processes.

This technique is particularly valuable at Langdons where much of the potential mineralisation may extend under the Paparoa Coal Measures that cover the Greenland Group rocks hosting the gold and antimony. By detecting these subtle chemical signatures, Siren can identify promising drill targets that would otherwise remain hidden.

Regulatory Progress Opens Path to Accelerated Exploration

Siren has made significant regulatory progress across its project portfolio:

• The Langdons prospecting permit (PP 60893) expired on May 25 and has been replaced by an exploration permit application, providing a pathway to more extensive exploration activities.
• At the company's flagship Sams Creek Gold Project, Siren lodged a Mining Permit Application on March 21, 2025, marking a key step in transitioning from exploration to potential mining operations.

Strategic Corporate Position Through Portfolio Diversification

In addition to its directly owned projects, Siren maintains exposure to the Reefton Goldfield through its approximately 22% shareholding in Rua Gold Limited, acquired through the sale of its Reefton tenements in Q4 2024. This strategic stake provides continued upside to ongoing exploration success in the region while allowing Siren to focus on its core Langdons, Sams Creek, and Queen Charlotte projects.

Furthermore, the company's approach mirrors that of Inca Minerals in terms of strategic portfolio management and consolidation of assets.

Clear Path Forward at Langdons

Siren has outlined a comprehensive exploration plan to advance the Langdons project:

1. Trenching and channel sampling of the Langdons Quartz and Antimony Reef to determine thickness and grade
2. Extension of conventional soil sampling across remaining outcropping Greenland Group rocks
3. Expansion of Ionic Leach geochemistry over cover rocks to the northwest of anomalous soils
4. Mapping and rock chip sampling of gold and antimony soil anomalies
5. Definition of drill targets
6. Application for drilling access agreement with the Department of Conservation upon exploration permit grant

Investment Thesis: Critical Metals Exposure With Precious Metals Upside

Siren Gold offers investors a compelling opportunity to gain exposure to both the booming gold market and the strategically vital antimony sector. The company's New Zealand focus provides a stable jurisdiction alternative to the current China/Russia-dominated antimony supply chain at a time when Western nations are actively seeking secure sources of critical minerals.

With Chairman and Acting Managing Director Brian Rodan noting that "the project could contain significant quantities of high-grade gold and antimony," Siren is well-positioned to capitalise on the growing demand for antimony across renewable energy, defence, and technology sectors. The high-grade discovery by Siren Gold Ltd adds to other recent high-grade antimony finds in the precious metals space.

The combination of exceptional grades, favourable geology, supportive regulatory progress, and strong commodity markets creates a unique investment proposition in the critical minerals and precious metals space.

"The anticipated conversion of Langdon's prospecting permit to an exploration permit will mark a key moment for the project, and another step towards the commencement of our exploration programs at both Langdons and Queen Charlotte. The antimony mineralisation at Langdons is very similar to the mineralisation in the northern half of the Reefton Goldfield, where significant antimony-gold mineralisation has been intersected in drilling at Auld Creek. At Langdons the strong surface sampling results reaffirm our view that the project could contain significant quantities of high-grade gold and antimony." – Brian Rodan, Chairman and Acting Managing Director

Antimony: A Critical Metal for the Future

Antimony is a metallic element that has become increasingly important to modern industry and technology. Its unique properties make it valuable across multiple applications, particularly in sectors deemed critical to national security and economic development.

Key Properties and Applications

Antimony's applications extend across numerous industries:

1. Energy Storage Technologies

• Functions as a key component in lead-acid batteries
• Used in emerging liquid metal batteries for grid-scale energy storage
• Serves as an additive in certain lithium-ion battery chemistries

2. Flame Retardants

• One of the most significant commercial applications
• Added to plastics, textiles, and other materials to reduce flammability
• Critical for safety standards in electronics, furniture, and building materials

3. Defence Applications

• Used in ammunition, particularly for hardening lead in bullets
• Component in infrared detectors and night vision equipment
• Applied in various military alloys and equipment

4. Semiconductor Manufacturing

• Functions as a dopant in semiconductor production
• Used in microelectronics and various electronic components

5. Industrial Applications

• Employed as a catalyst in the production of PET plastic
• Used in certain glass and ceramic formulations
• Component in various alloys to increase hardness and durability

Supply Chain Vulnerabilities

The global antimony market faces significant supply chain challenges:

• Concentrated Production: China dominates global production with approximately 60% of world supply
• Limited Sources: Few economically viable deposits exist outside China and Russia
• Processing Capacity: Most refining and processing occurs in China
• Recycling Limitations: While some antimony is recycled from lead-acid batteries and flame retardants, recovery rates remain relatively low

These factors have led governments worldwide to classify antimony as a critical mineral, prioritising the development of new sources in politically stable jurisdictions like New Zealand. Companies like Trigg Minerals have also recognised this opportunity by acquiring high-grade antimony-gold projects.

The high-grade discovery by Siren Gold Ltd at Langdons represents a potentially significant new source of antimony outside the existing supply chain, which could be strategically valuable as demand continues to grow across technology and energy transition applications.

Geological Context of the Langdons High-Grade Discovery

The Langdons high-grade discovery by Siren Gold Ltd is situated within a geological setting that shares important characteristics with the productive Reefton Goldfield. Understanding these similarities provides context for the potential significance of the recent findings.

Regional Geological Setting

The Langdons project is located in the Paparoa Goldfield, approximately 50km southwest of Reefton in New Zealand's South Island. The mineralisation is hosted within Greenland Group rocks, the same formation that hosts the significant gold deposits in the nearby Reefton Goldfield.

Key geological features include:

• Greenland Group Basement: Late Cambrian to early Ordovician sedimentary rocks consisting of interbedded greywacke and argillite
• Structural Controls: Mineralisation follows NW-SE striking structures, differing from the N-S trends in the Reefton Goldfield
• Cover Sequence: The mineralised Greenland Group is partially covered by Late Cretaceous Paparoa Coal Measures

Mineralisation Style

The high-grade discovery by Siren Gold Ltd exhibits several distinctive characteristics:

• Structural Control: Mineralisation is centred around a tightly folded antiform/synform pair
• Multiple Reef Systems: The project area contains several mineralised quartz reefs including the Langdons Antimony Lode, Langdons Quartz Reef, and Liberty Reef
• Shallow to Moderate Dips: The mineralised structures typically dip at angles of 30-45 degrees
• Gold-Antimony Association: Strong correlation between gold and antimony values in soil samples and rock chips

This geological framework provides clear direction for future exploration efforts, particularly in targeting extensions of the known mineralisation along structural trends and beneath cover rocks. Recent results indicate potential for further discoveries using similar exploration methodologies.

The high-grade discovery by Siren Gold Ltd represents a potentially significant new source of both gold and antimony in a region with established mining heritage but limited modern exploration. The geological context suggests considerable potential for expansion of the resource through systematic exploration.

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