Siren Gold’s Sams Creek Boasts 953,000oz Resource as Permit Decision Looms

Siren Gold's Strategic Focus on New Zealand Projects

Siren Gold Limited continues to advance its portfolio of gold and antimony projects in New Zealand's upper South Island, with a particular emphasis on transitioning its flagship Sams Creek project from exploration to development. The company’s recent quarterly report highlights key milestones, including a substantial gold mineral resource estimate and a pending mining permit decision that could unlock the next phase of growth.

Sams Creek, A Robust Gold Resource with Expansion Potential

The Sams Creek project is anchored by a gold mineralised porphyry dyke extending 7 kilometres along strike and at least 1 kilometre vertically, with a thickness of up to 50 metres. The current Mineral Resource Estimate (MRE) stands at 953,000 ounces of gold at an average grade of 2.4 grams per tonne, predominantly contained within the Main Zone fold. Notably, only a fraction of the potential mineralised system has been drilled, with over 90% of the 21,500 metres of diamond drilling focused on this Main Zone.

Exploration success at Sams Creek is underscored by recent intersections in the Doyles fold, located 500 metres west of the Main Zone, where deep drill holes have confirmed gold mineralisation at depth. Additional folds such as Riordans, Western Outcrops, Anvil, and Barrons Flat present promising targets that could significantly expand the resource base. The company’s geological modelling and geochemical surveys suggest a large, multi-metal mineral system, with potential for deeper porphyry copper-gold deposits yet to be tested.

Mining Permit and Development Plans

Siren lodged its mining permit application for Sams Creek with New Zealand Petroleum & Minerals in March 2025. This application is a critical regulatory step, granting the legal right to extract and process minerals and enabling the transition from exploration to mining. The company anticipates a decision on this permit by the end of 2025. Concurrently, infill drilling is planned through mid-2026 to upgrade the majority of the inferred resource to the indicated category, which will support an updated Mineral Resource Estimate and Scoping Study scheduled for release in the third quarter of 2026.

The Scoping Study contemplates both open pit and underground mining options, with infrastructure including a processing plant designed for a throughput of up to 1.25 million tonnes per annum and an expected gold recovery rate of 90%. The study also incorporates environmental and economic considerations, including royalty frameworks and tax implications, underscoring the project's commercial viability.

Langdons and Queen Charlotte, Complementary Antimony-Gold Assets

Beyond Sams Creek, Siren’s Langdons project exhibits compelling antimony and gold mineralisation. Historic mining and recent sampling have revealed exceptionally high-grade gold (up to 506 g/t) and antimony (up to 9.3%) in mullock heaps, with geochemical surveys indicating mineralisation extending beneath cover rocks. Planned trenching, soil sampling, and mapping aim to delineate drill targets, with access agreements in progress.

The Queen Charlotte project, home to New Zealand’s largest historic antimony mine, offers additional upside. The Endeavour mine produced over 3,000 tonnes of stibnite ore in the late 19th century, with metallurgical testwork demonstrating high antimony recoveries. The mineralised system extends over a strike length of approximately 1.2 kilometres and a vertical extent exceeding 400 metres, with potential for gold recovery that was not exploited historically. Siren’s exploration plans include mapping, sampling, and soil geochemistry to define drill targets, pending regulatory permits.

Financial Position and Corporate Developments

During the quarter, Siren invested $832,000 in exploration and evaluation activities, reflecting its commitment to advancing project development. The company closed the period with $1.2 million in cash, maintaining a solid financial footing to support ongoing work. Additionally, Siren holds a 17% stake in Rua Gold following the sale of its Reefton tenements, providing exposure to high-grade gold projects in New Zealand’s North Island.

Overall, Siren Gold’s quarterly update paints a picture of a junior explorer making tangible strides toward production, underpinned by a strong resource base, strategic permitting progress, and diversified project exposure in critical minerals.