Sandfire hears Siren’s call

Major copper producer Sandfire Resources has offloaded its Sam’s Creek Gold Project in New Zealand to Siren Gold for $250,000.

The  Project  currently  has  a significant  JORC  (2012) mineral resource of 7.5 million tonnes @ 2.43 grams per tonne gold for 588 kilo ounces of contained gold, with a significant potential for expansion.

The extensive gold mineralisation is hosted within a 40-metre thick porphyry dyke that extends for over seven kilometres and is open at depth, with favorable metallurgical test work indicating a gold recovery rate of 84-87 per cent.

Siren already has a  large  strategic tenement holding in the nearby Reefton and  Lyell Goldfields, which historically produced over 2 million ounces of gold at an average recovered grade  of 16 grams per tonne.

Sandfire’s main operations include the high-grade DeGrussa and Monty copper-gold mines in inland Western Australia.

About Ray Chan

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).

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