Siren Gold Advances Sams Creek Drilling and Mining Permit Amid Strong Queen Charlotte Results

Sams Creek Drilling Targets Resource Upgrade and Expansion

Siren Gold Limited (ASX:SNG) is intensifying its development efforts at the Sams Creek Gold Project with a 7,000-metre diamond drilling campaign designed to upgrade and expand its existing 824,000-ounce gold resource. The program, which has completed approximately 1,500 metres to date, focuses on infill drilling at the SE Traverse and Carapace zones to convert inferred resources to indicated status, alongside step-out drilling at the Doyles Fold target, a structural analogue with promising high-grade potential.

Initial assay results from the SE Traverse infill drilling have returned encouraging intercepts such as 4.8 metres at 4.39 g/t Au and 4.2 metres at 3.25 g/t Au, supporting the geological model underpinning the forthcoming Mineral Resource Estimate (MRE) update. The drilling campaign is expected to conclude by the end of April, with an updated MRE and Scoping Study targeted for release by the end of Q3 2026.

Mining Permit Application Progresses Despite Legal Challenge

The Sams Creek Mining Permit Application, lodged with New Zealand Petroleum & Minerals (NZPAM) in March 2025, remains under regulatory review with an outcome anticipated in the June quarter. This permit is a critical step for Siren’s transition from explorer to developer, granting the legal right to extract and process minerals within the permit area.

However, the company faces a judicial review proceeding scheduled for September 2026, challenging decisions related to the mining permit application. Siren has filed a statement of defence and continues to engage proactively with regulatory bodies and stakeholders to advance the project.

Supporting the permit application is a comprehensive Scoping Study that demonstrates the project’s viability, including open pit and underground mine designs, processing methodologies, and metallurgical test work indicating a 90% gold recovery at a throughput of 1.25 million tonnes per annum. Despite the positive outlook, the high proportion of inferred resources in the current MRE limits the disclosure of specific production targets at this stage.

Queen Charlotte Exploration Confirms Extensive Gold-Antimony Mineralisation

Exploration at the Queen Charlotte Gold & Antimony Project has confirmed a robust and continuous gold-antimony system along a 1.5-kilometre section of the 12-kilometre Endeavour Shear Zone. Surface channel and rock chip sampling returned multiple high-grade assays, including up to 6.0 metres at 2.9 g/t Au with 1.0% antimony at Maria Reef and 1.2 metres at 1.5 g/t Au with 18.5% antimony at Skyline Reef.

These results reinforce the prospectivity of the project, which hosts New Zealand’s largest historical antimony mine. Siren is progressing regulatory applications, including an access agreement with the Department of Conservation, to facilitate a maiden drilling program. The company also plans further regional soil geochemistry and mapping to delineate mineralisation between existing mine sites.

This quarter’s exploration success builds on earlier findings, with Siren’s recent new mineralised fold confirmed 500m west highlighting the company’s expanding footprint in New Zealand’s goldfields.

Langdons Project Prepares for Maiden Drilling

At the Langdons Gold & Antimony Project, previous soil geochemistry and rock sampling have identified a broad mineralised corridor with high-grade gold and antimony potential. While no fieldwork occurred this quarter, technical preparations are underway for an access agreement application to the Department of Conservation, aiming to enable maiden drilling in the near term.

Financial Position and Strategic Interests

Siren spent $766,000 on exploration and evaluation during the quarter, ending with a cash balance of $2.26 million. The company did not undertake mining production or development expenditure this period. Siren also maintains a 12.1% equity stake in Canadian and New Zealand-listed RUA Gold (TSX:RUA, NZX:RGI), providing strategic exposure to the Reefton goldfield and potential high-grade discoveries in the Hauraki goldfield.