Siren Gold (SNG) shares have skyrocketed following its recent exploration results.
The company reportedly intersected visible gold in its deepest hole drilled to date at the Alexander River project in the high-grade Reefton Goldfields, located on the South Island of New Zealand.
Drilling has been continuing at McVicar West, with the shoot extended a further 200 metres down plunge for a total of 500 metres. This falls below the historic McVicar mine that produced 41 thousand ounces of gold at 26 grams of gold per tonne.
The hole intersected a mineralised zone from 312.8 metres, comprising 0.6 metres of thick smokey quartz reef with visible gold that assays 17.3 grams of gold per tonne, followed by a two-metre zone of quartz veining and strong acicular arsenopyrite.
This marks the deepest hole drilled at Alexander River to date, with a similar appearance to the gold found in drill core from the Fosterville and the Queensway epizonal gold deposits.
Siren Gold shares soared 28.6 per cent, trading at 31.5 cents at 1:35 pm AEDT.
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