Siren Gold Reports 4m @ 2.28g/t Au at Sams Creek, Raises $4M
Siren Gold Limited has bolstered its leadership and financial position while delivering encouraging exploration results across its New Zealand gold and antimony projects, setting the stage for resource expansion and development progress.
- Appointment of Zane Padman as new CEO
- Successful $4 million capital raising to fund exploration
- Significant drilling intersections at Sams Creek confirming resource potential
- High-grade gold and antimony assays at Langdons Project
- Mining permit application lodged for Sams Creek, advancing development
Leadership and Capital Injection
In the September 2025 quarter, Siren Gold Limited made a strategic leadership appointment with Zane Padman stepping in as Chief Executive Officer. Bringing over 15 years of mining industry experience, Padman’s arrival coincides with a pivotal phase for the company as it transitions from exploration toward development. Founder Brian Rodan has resumed his role as Non-Executive Chairman, maintaining his influential presence in guiding Siren’s direction.
Complementing this leadership upgrade, Siren successfully raised $4 million through a well-supported placement. These funds are earmarked to accelerate drilling and exploration activities across its key projects, notably Sams Creek, Langdons, and Queen Charlotte, underpinning the company’s growth ambitions.
Exploration Advances at Sams Creek
The Sams Creek Gold Project remains Siren’s flagship asset, boasting a substantial mineral resource estimate of 824,000 ounces of gold at 2.8 grams per tonne. Recent drilling has focused on the Doyles fold, a newly targeted structural feature located 500 meters west of the Main Zone fold. Two deep diamond drill holes intersected significant gold mineralisation, including 4 meters at 2.28 grams per tonne, suggesting the potential to materially expand the resource base.
Importantly, the company has commenced infill drilling at the Carapace and SE Traverse zones to upgrade the resource classification from inferred to indicated, a critical step toward project development. The ongoing drilling campaign aims to close a 1.5-kilometer gap between known mineralised zones, which could add considerable ounces to the resource.
Langdons and Queen Charlotte Projects Show Promise
At the Langdons Antimony-Gold Project, fieldwork yielded impressive assay results, including channel samples with up to 38.5 grams per tonne gold and 5.7% antimony. Historical mining records and recent geochemical sampling reinforce the prospectivity of this area, with exploration permits now granted to facilitate further work.
The Queen Charlotte Project, home to New Zealand’s largest historic antimony mine, received approvals for low-impact exploration from the Department of Conservation. Although no fieldwork was conducted during the quarter, preparations are underway to unlock the significant gold and antimony potential within this largely unexplored mineralised system.
Progress Toward Development
Siren lodged a mining permit application for Sams Creek in March 2025, a crucial regulatory milestone that enables the transition from exploration to mining. Supporting this, a scoping study has demonstrated the project’s viability, outlining both open pit and underground mining options with promising metallurgical recoveries. However, the company remains cautious, noting that a large portion of the resource is currently classified as inferred, which limits the release of detailed production forecasts until further drilling upgrades the resource status.
Financially, Siren ended the quarter with a healthy cash balance of $2.7 million, well-positioned to fund ongoing exploration and development activities. The company’s disciplined expenditure and strong investor support underscore confidence in its strategic direction.
Bottom Line?
With a strengthened leadership team, fresh capital, and promising exploration results, Siren Gold is poised to unlock significant value as it advances its New Zealand projects toward production.
Questions in the middle?
- Will upcoming infill drilling at Sams Creek convert inferred resources to indicated, enabling production forecasts?
- How might the discovery of additional mineralised folds impact the overall resource size at Sams Creek?
- What exploration results can be expected next quarter from Langdons and Queen Charlotte projects?