Siren Gold has restarted drilling at its Sams Creek Project in New Zealand, aiming to expand its 824,000-ounce gold resource by targeting deeper porphyry structures and fold hinges. The company plans a focused drilling campaign and mining study in 2025 to unlock further value.
- Sams Creek Mineral Resource Estimate stands at 824koz @ 2.8g/t Au
- New drilling targets A2 Antiform fold 200m below previous deep holes
- Potential for significant resource expansion along 7km Sams Creek Porphyry Dyke
- Exploration includes deep diamond drilling with daughter holes planned
- Mining study and permit application scheduled for Q1 2025
Siren Gold Revives Drilling at Sams Creek
Siren Gold Limited (ASX: SNG) has announced the recommencement of drilling activities at its flagship Sams Creek Project, located in Golden Bay, New Zealand. The project currently hosts a substantial Mineral Resource Estimate (MRE) of 824,000 ounces of gold at an average grade of 2.8 grams per tonne (g/t) Au, contained within a 7-kilometre-long porphyry dyke.
The renewed drilling campaign, which began on 13 February 2025, is designed to test deeper mineralisation targets, particularly focusing on the A2 Antiform, a geological fold structure identified approximately 400 metres below the main A1 Antiform that hosts the existing resource. Previous deep drill holes (SCDDH090 and SCDDH091) intersected encouraging gold grades of 11 metres at 2.01 g/t Au and 13 metres at 3.14 g/t Au respectively within this A2 fold, suggesting significant potential for resource growth.
Geological Context and Exploration Strategy
The Sams Creek Porphyry Dyke (SCD) is a thick, gold-bearing intrusion that has been structurally folded into gentle northeast-plunging folds. Gold mineralisation preferentially occurs in the fold hinges or antiforms, creating high-grade shoots that plunge northeast. The current MRE is largely contained within the A1 Antiform, which extends over 1.5 kilometres and remains open at depth, while the A2 Antiform represents a promising new exploration target.
Siren’s exploration approach involves drilling a deep parent hole targeting the A2 Antiform 200 metres below the deepest known intersections, with plans for two daughter holes to test 100 metres above and below this parent hole if warranted. This strategy aims to delineate the continuity and grade of the deeper mineralised zones, potentially adding significant ounces to the resource base.
Broader Mineral System and Future Prospects
Beyond the SCD, geochemical and geophysical surveys have identified large circular structures at the Main and Anvil Zones, associated with multi-metal anomalies including gold, copper, arsenic, and rare earth elements. These anomalies suggest the presence of a large, multi-phase mineral system with potential buried porphyry intrusions at depth, which could host copper-molybdenum-gold mineralisation.
The ongoing drilling program is also expected to intersect alteration halos related to these potential intrusions, providing critical data to evaluate the broader mineral system and its economic potential.
Operational and Regulatory Outlook
Alongside exploration, Siren Gold plans to complete a mining study and submit a mining permit application in the first quarter of 2025. The project’s location within conservation land necessitates careful environmental management, but existing agreements with the Department of Conservation allow for extensive drilling and infrastructure development with minimal disturbance.
Metallurgical testwork to date indicates gold recoveries between 80% and 90%, supporting the economic viability of the deposit. The company’s ownership structure includes an 81.9% interest held by Siren Gold and an 18.1% stake by OceanaGold Limited, New Zealand’s largest gold miner.
Looking Ahead
Siren Gold’s recommencement of drilling at Sams Creek signals a renewed push to unlock deeper, higher-grade mineralisation and expand the project’s resource base. The combination of structural geology insights, advanced geochemical targeting, and a systematic drilling program positions Sams Creek as a compelling asset in the New Zealand gold sector.
Bottom Line?
Siren Gold’s deep drilling at Sams Creek could redefine the project’s scale and economics, with results over the coming months critical for its next growth phase.
Questions in the middle?
- Will the new drilling confirm significant extensions to the A2 Antiform mineralisation?
- How might the discovery of a buried porphyry system impact the overall resource and project strategy?
- What are the timelines and hurdles for securing mining permits given the conservation land setting?