Siren Intersects Significant Mineralisation at Bonanza East
Mineral exploration and development company Siren Gold has reported positive results from its most recent drill programme at its Bonanza East gold-silver project in Chile. The drill results indicate that the southern portion of the disputed Bonanza East vein system is mineralised.
Siren began their drill programme late in 2018, followed by a drilling campaign in the summer of 2019. The aim of the programme was to assess the mineral potential of the Bonanza East area and the surrounding area.
The drilling returned 18.5 metres of mineralised banded vein, with a true width of 9.2 metres grading 0.81 g/t Au and 49.0 g/t Ag with higher grade intervals up to 4.7 g/t Au and 144 g/t Ag.
These results support the historic estimates, which estimated Bonanza East to contain 1.8 million tonnes grading 1.3 g/t Au and 22 g/t Ag, although this figure could be much higher.
The results of the drilling are highly encouraging and build on the company’s progress made in the region. In 2018, Siren acquired an additional 22 properties in the area, adding to the four projects already owned in Chile and one in Peru, including the Bonanza East project.
The properties are centrally located within a historic mining area and lie within the Tertiary porphyry gold-copper belt that hosts several gold-silver producing mines.
Siren’s Chairman Martin Potts stated that this drill programme is “the most convincing evidence thus far that Bonanza East marks the beginning of a new actively forming ore district”.
Further exploration is now underway to confirm the size and potential of the vein system. The company has also allowed geological teams to conduct detailed analysis of the newly acquired properties in the area.
Siren Gold remains optimistic that the results of the programme will confirm the size and potential of the vein system. Consequently, the company is well-positioned to take advantage of mineralisation differences when the environmental authorities decide on the permit application to develop Bonanza East.
Siren Intersects Significant Mineralisation at Bonanza East
Mineral exploration and development company Siren Gold has reported positive results from its most recent drill programme at its Bonanza East gold-silver project in Chile. The drill results indicate that the southern portion of the disputed Bonanza East vein system is mineralised.
Siren began their drill programme late in 2018, followed by a drilling campaign in the summer of 2019. The aim of the programme was to assess the mineral potential of the Bonanza East area and the surrounding area.
The drilling returned 18.5 metres of mineralised banded vein, with a true width of 9.2 metres grading 0.81 g/t Au and 49.0 g/t Ag with higher grade intervals up to 4.7 g/t Au and 144 g/t Ag.
These results support the historic estimates, which estimated Bonanza East to contain 1.8 million tonnes grading 1.3 g/t Au and 22 g/t Ag, although this figure could be much higher.
The results of the drilling are highly encouraging and build on the company’s progress made in the region. In 2018, Siren acquired an additional 22 properties in the area, adding to the four projects already owned in Chile and one in Peru, including the Bonanza East project.
The properties are centrally located within a historic mining area and lie within the Tertiary porphyry gold-copper belt that hosts several gold-silver producing mines.
Siren’s Chairman Martin Potts stated that this drill programme is “the most convincing evidence thus far that Bonanza East marks the beginning of a new actively forming ore district”.
Further exploration is now underway to confirm the size and potential of the vein system. The company has also allowed geological teams to conduct detailed analysis of the newly acquired properties in the area.
Siren Gold remains optimistic that the results of the programme will confirm the size and potential of the vein system. Consequently, the company is well-positioned to take advantage of mineralisation differences when the environmental authorities decide on the permit application to develop Bonanza East.
