Siren Gold Targets 824koz Upgrade with 7,000m Drilling at Sams Creek
Siren Gold has kicked off a significant 6,000-metre diamond drilling program at its Sams Creek Gold Project in New Zealand, aiming to upgrade and expand its existing 824,000-ounce resource. This marks a critical phase ahead of key milestones including a mining permit decision and an updated scoping study.
- 6,000m infill drilling to upgrade 824koz @ 2.8g/t Au resource
- 1,000m extension drilling including maiden Doyles Fold target
- Less than 15% of the 7km porphyry dyke drilled to date
- Mining permit decision expected by year-end
- Parallel exploration underway at Queen Charlotte project
Drilling Commences at Sams Creek
Siren Gold Limited (ASX, SNG) has commenced a major diamond drilling campaign at its flagship Sams Creek Gold Project in New Zealand’s Tasman District. The 6,000-metre infill program is designed to upgrade the current Mineral Resource Estimate (MRE) of 824,000 ounces of gold at 2.8 grams per tonne from largely Inferred to Indicated classification, a crucial step to underpin future development studies.
The drilling program also includes an additional 1,000 metres of extension drilling, targeting new zones such as the maiden drilling at the Doyles Fold prospect. This area, located west of the Main Zone, is considered a promising structural analogue that could host further high-grade mineralisation.
A Large-Scale, High-Grade Gold System
The Sams Creek deposit is hosted within a steeply dipping, 7-kilometre-long porphyry dyke, with mineralisation extending over 1 kilometre down dip. Despite its scale, less than 15% of this dyke has been systematically drilled, leaving significant exploration upside. Historical drilling has returned impressive intercepts, including intervals exceeding 4 grams per tonne over tens of metres, underscoring the continuity and quality of the gold mineralisation.
Geologically, Sams Creek is classified as an intrusion-related gold deposit, sharing characteristics with some of the world’s multi-million-ounce gold systems. The deposit’s mineralisation is open at depth and along strike, offering potential for resource growth both near surface and underground.
Upcoming Catalysts and Parallel Exploration
Key upcoming milestones for Siren Gold include the anticipated award of the Mining Permit by the end of the year, an updated Mineral Resource Estimate following the drilling program, and the completion of a Scoping Study to demonstrate the project’s economic potential. CEO Zane Padman highlighted the pivotal nature of the next six months, noting the possibility of adding a second drill rig to accelerate progress.
In parallel, Siren’s exploration team is preparing to mobilise at the Queen Charlotte gold and antimony project, where initial fieldwork will focus on geological mapping and sampling to support maiden drilling plans. This diversification of exploration efforts reflects the company’s broader strategy to build a pipeline of quality assets.
Strategic Implications
The drilling campaign at Sams Creek represents a critical phase in advancing one of New Zealand’s largest undeveloped gold resources. Upgrading the resource classification and expanding the known mineralisation could significantly enhance the project’s attractiveness to investors and potential partners. The combination of a large-scale system, high-grade intercepts, and a relatively underexplored strike length positions Sams Creek as a compelling development opportunity in the Australasian gold sector.
Bottom Line?
Siren Gold’s drilling push at Sams Creek sets the stage for a resource upgrade that could reshape the project’s trajectory.
Questions in the middle?
- Will the infill drilling confirm higher confidence Indicated resources as planned?
- Can extension drilling at Doyles Fold reveal new high-grade zones to expand the resource?
- How soon will the Mining Permit be granted, and what conditions might it include?
