Siren Gold Ltd · ASX:SNG
Siren Gold — Investor Presentation (July 2024)
43 slides from Siren Gold's investor presentation, Jul 15, 2024
Slide 1: Consolidating the Reefton Goldfield
Consolidating the Reefton Goldfield Investor Presentation 15 July 2024
Slide 2: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have COMPETENT PERSONS STATEMENT - Siren been prepared by Siren Gold Limited ACN 619 211 826 (Company). The information contained in this report rela
Slide 3: Projects: Reefton and Sams Creek
Projects: Reefton and Sams Creek Reefton Goldfield • Reefton is a large historic NZ goldfield with previous gold production totalling 11Moz from alluvial, open cut and 85 historic underground mines. • Dominant ~821km2 tenement package across the Reefton Goldfield • Siren’s current MRE of 444koz @ 3.
Slide 4: Announced Transaction: Sale of Reefton Project to RUA
Announced Transaction: Sale of Reefton Project to RUA Siren has entered into a Transaction The Transaction will be effected by way of a share sale agreement (the “Share Sale Agreement”) under which Reefton definitive agreement Acquisition Corp., a wholly owned subsidiary of RUA, will acquire 100% of
Slide 5: Value-Creating Transaction for Siren Shareholders
Value-Creating Transaction for Siren Shareholders Strengthens balance sheet adding $20M in cash in pro forma Attractive TV/Resource Multiple 1 cash and RUA shares (~30.2% of RUA’s pro forma shares) • Transaction implies a TV/resource multiple of ~A$45/oz Au Accretive transaction price: ~A$0.10 per S
Slide 6: Consolidating the Reefton Goldfield
Consolidating the Reefton Goldfield Establishes dominant landholder in the historical Reefton Goldfield with • +1,242km² tenement package cover CSE: RUA ~35 km of prospective strike length Resource: drilling (MC~ A$45M) • MRE of 444k oz Au at 3.8 g/t Au and 8.7kt Sb at 1.5% Sb • 85 historical mines
Slide 7: Links the 35km strike of the Reefton Goldfield
Links the 35km strike of the Reefton Goldfield Consolidated Tenement Package • Siren's Reefton mineralisation extends from Alexander River through Big River & Cumberland to Auld Creek – Hosts MRE of 444koz Au at 3.8g/t Au and 8.7kt Sb at 1.5% Sb • This historical mineralisation continues through RUA
Slide 8: RUA + Siren: Historical production of 914koz Au at 20g/t Au
RUA + Siren: Historical production of 914koz Au at 20g/t Au Reefton Historical Mines production records – untested at depth • Combines the largest historical mines that produced 914koz Au at 20g/t Au • All remain open at depth with significant exploration upside 8 Siren Gold | www.sirengold.com.au
Slide 9: New Siren Gold: Sams Creek and Consolidated Reefton Project
New Siren Gold: Sams Creek and Consolidated Reefton Project Strengthened balance sheet • Over $20M in cash and shares in RUA with no debt Sams Creek Project (81.9% Siren) • Joint Venture with New Zealand’s largest gold miner, OceanaGold (TSX:OGC) holding (18.1%) • The porphyry dyke system is mapped
Slide 10: Corporate Overview
Corporate Overview Share Price Performance (ASX:SNG) Capital Structure Current Pro-forma Volume Adj Close $0.14 3.5 Shares on Issue 204.9m 204.9m $0.12 3.0 Share Price A$0.076 A$0.076 Volume (millions) $0.10 2.5 Share Price (A$) Market Capitalisation A$15.6m A$15.6m $0.08 2.0 Cash & listed investmen
Slide 11: RUA GOLD
RUA GOLD (30.2% equity interest following Transaction)
Slide 12: RUA: New Canadian Listed Gold Explorer
RUA: New Canadian Listed Gold Explorer Share Price Performance (CSE:RUA, OTC: NZAUF, WKN: A4010V) Capital Structure Current Pro-forma Basic shares outstanding 193.6m 277.5m $0.25 Volume Adj Close 7.0 Options & warrants outstanding 27.5m 27.5m 6.0 $0.20 Fully diluted shares outstanding 221.1m 305.0 V
Slide 13: RUA GOLD: Experienced and Proven Board and Leadership Team
RUA GOLD: Experienced and Proven Board and Leadership Team RUA is led by a Board Board of Directors with extensive experience in mining capital markets Transaction adds Siren Chairman (Brian Rodan) to the Board of RUA Oliver Lennox-King Paul Criddle Mario Vetro Tyron Breytenbach Brian Rodan Chairman
Slide 14: RUA GOLD: Exploring Two Gold Districts
RUA GOLD: Exploring Two Gold Districts HAURAKI GOLDFIELD (North island) Area: Hauraki Goldfield Property: Glamorgan (4,644 ha) Target: The Wires Ridge Prospect Auckland High-grade epithermal gold province • Total district production >15Moz gold and >60Moz silver • 2.8 km north of OceanaGold’s Wharek
Slide 15: RUA GOLD: 3 Years of Exploration has led to a Major Discovery
RUA GOLD: 3 Years of Exploration has led to a Major Discovery • In three years of exploration, RUA has mapped the historic mines and made a promising new discovery • 16,000 soil samples collected and analyzed – the most comprehensive geochemical dataset in the Reefton Goldfield • Detailed geological
Slide 16: RUA GOLD: Completed Phase 1 Drilling of the Pactolus Vein
RUA GOLD: Completed Phase 1 Drilling of the Pactolus Vein ~5,000 metre drilling campaign completed. Trench testing indicated 16.4g/t Au over 7m. Includes intercepts of 9.41g/t Au over 12m and 6.28 g/t Au over 5m. Trench testing indicated 16.4g/t Au over 7m. Surface trenching and drilling illustrates
Slide 17: RUA GOLD: Glamorgan Project in the Hauraki Goldfield
RUA GOLD: Glamorgan Project in the Hauraki Goldfield Glamorgan has the classic surface features of a major epithermal gold-silver system • Untested 3.8km long zone of silicification, veining and alteration • > 50ppb gold in soils over its 3.8km length • Microcrystalline quartz, opaline and chalcedon
Slide 18: Sams Creek Project
SAMS CREEK PROJECT (To be retained by Siren)
Slide 19: Sams Creek: 824koz and growing
Sams Creek: 824koz and growing • JV Siren (81.9%) Oceana Gold (18.1%) • Located outside the National Park boundary • Access Agreement with Department of Conservation in place • Hydro power available • Takaka Port accessible Mineral Resource Estimate (MRE) at a 1.5g/t Au cut-off (100% basis) Category
Slide 20: Sams Creek: JV Siren (81.9%) Oceana Gold (18.1%)
Sams Creek: JV Siren (81.9%) Oceana Gold (18.1%) SC19: 183m @ 2.46 g/t Au • Intrusion-related gold deposit (IRGD) with mineralisation contained within a large porphyry dyke with Significant Upside Potential • 7km Long x 50m Wide & Open at Depth 20 Siren Gold | www.sirengold.com.au
Slide 21: Sams Creek: Anvil Zone
Sams Creek: Anvil Zone Recent Exploration Program Anvil Drilling Program • Targeting based on rock chips at Anvil and phase 1 ionic leach (IL) survey results • 4 “scouting“ diamond holes were drilled at Anvil (526m) targeting the Sams Creek Dyke (SCD) • All holes intersected the SCD ~20m thick, with
Slide 22: Sams Creek: Anvil Zone - SCDDH107
Sams Creek: Anvil Zone- SCDDH1071 (assay results awaited) 1 – (see ASX Announcement dated 02 July 2024) 22 Siren Gold | www.sirengold.com.au
Slide 23: Sams Creek: Circular Structures and Ionic Leach geochemistry
Sams Creek: Circular Structures and Ionic Leach geochemistry Main and Anvil Circular Structures IL Gold (top) and Cu (bottom) IL Arsenic (top) and RRE (bottom) 23 Siren Gold | www.sirengold.com.au
Slide 24: Sams Creek: Ionic Leach: Intrusion Fractionation
Sams Creek: Ionic Leach: Intrusion Fractionation IL SN-W-Nb-Ta (top) and Cu (bottom) • There is also a strong Sn-W-Nb-Ta-Ti-Li signature at Doyles-Western Outcrops and NW area of Anvil generally where the other elements are depleted, indicating potential fractionation within the intrusions • This el
Slide 25: Sams Creek: Main & Anvil Zone - Targets
Sams Creek: Main & Anvil Zone - Targets Dyke targets (D) and porphyry targets (P) Dyke Targets (D) • IL highlights the Main Zone MRE (D1)-strong Au-As anomaly over 1.1 kms • D2, D3, D4, D5 have the same Au-As signature and close to SCD outcrop Intrusion (porphyry) Targets (P) • These targets have a
Slide 26: Sams Creek: Next Steps
Sams Creek: Next Steps Planned Program • Extend the IL soil survey beyond the Main and Anvil Zone circular structures • Scoping Study for Mining permit application • Measured Group (Brisbane) will include: • Open pit only mine design costing • Underground only mine design costing • Hybrid O/P and U/
Slide 27: Key Takeaways
Key Takeaways Value creating transaction with RUA • Strengthens Siren’s balance sheet: A$20M in cash and listed investments • Consolidating the Reefton Belt with RUA and Siren’s tenements forming a +1,242 km2 strategic land holding • 30.2% ownership of a larger Reefton Project as well as RUA’s very
Slide 28: Thank you
Thank you ASX:SNG T: (08) 6458 4200 Victor Rajasooriar E: admin@sirengold.com.au Managing Director & CEO W: www.sirengold.com.au
Slide 29: Appendix: Reefton Project
Appendix REEFTON PROJECT (30.2% equity interest following Transaction)
Slide 30: Reefton Hub: Infrastructure
Reefton Hub: Infrastructure Operating Coal Mine CSE: RUA Resource: drilling (MC~ A$45M) ASX: SNG 444koz @ 3.8g/t Au, 8.7kt Sb (MC ~ A$15.6M) Operating Coal Mine Operating Coal Mine Australian Super Invests ~ A$200M Resource: ~ 700koz Siren Gold | www.sirengold.com.au 30 30 Siren Gold | www.sirengold
Slide 31: Reefton: 6 High-Grade Projects
Reefton: 6 High-Grade Projects Auld Creek – 65koz @ 3.5g/t Au with 8.7kt @ 1.5% Sb (Outstanding Gold & Antimony) Big River – 100koz @ 4g/t Au Lyell – high-grade drill targets Alexander River -170koz @ 5g/t Au Supreme – 100koz @ 3g/t Au 31 Siren Gold | www.sirengold.com.au
Slide 32: Reefton: Auld Creek Gold + Antimony - MRE 65koz @ 3.5g/t Au + 8.7kt Sb
Reefton: Auld Creek Gold + Antimony - MRE 65koz @ 3.5g/t Au + 8.7kt Sb Fraternal Inferred Resource 65koz @ 3.5g/t Au, 8.7kt Sb @ 1.5% 4 potential high-grade Au-Sb shoots with 1km down dip depth extension potential Bonanza East 22.2m @ 7.2g/t Au and 0.3% Sb (ACDDH016 - 7/5/24) 32 Siren Gold | www.sir
Slide 33: Reefton: Lyell - 5km strike from Alpine United to United Victory Mines
Reefton: Lyell - 5km strike from Alpine United to United Victory Mines Disseminated Aspy Disseminated Aspy Mt Lyell North Trenches Grades • 7.0m @ 13.8g/t Au • 8.0m @ 6.3g/t Au United Victory Channels Grades • 3.0m @ 19.1g/t Au • 1.1m @ 36.0g/t Au 33 Siren Gold | www.sirengold.com.au
Slide 34: Reefton: Alexander River MRE 170koz @ 5.0g/t Au
Reefton: Alexander River MRE 170koz @ 5.0g/t Au Sirens Alexander River (~8 km from Blackwater) Federations Snowy River Mine Development Shoot extends for +1.3kms down plunge Shoot extends for +2.0kms down plunge Significant high-grade gold mineralisation 34 Siren Gold | www.sirengold.com.au
Slide 35: Reefton: Langdons – High-Grade Gold + Antimony
Reefton: Langdons – High-Grade Gold + Antimony • Langdons is ~50km SW of Reefton and operated from 1879 – 1952 • High-grade Au-Sb reefs were mined with grades up to 2,610g/t gold and 1,120g/t silver • Over one five year period gold production averaged 60g/t Au (2 oz/t) • A 150m wide gold, stibnite a
Slide 36: Reefton: Cumberland – 10km Strike from Auld Creek to Big River
Reefton: Cumberland – 10km Strike from Auld Creek to Big River • Oceana Gold’s Globe Progress Mine produced +1.0Moz @ 6g/t Au (431koz @ 12.4g/t Au UG and 665koz @ 1.9g/t Au in OceanaGold's recent OP) • Cumberland mineralisation extends for 3km south and is open in all directions • The Cumberland ten
Slide 37: Reefton: Big River Produced 136koz @ 34.1g/t Au
Reefton: Big River Produced 136koz @ 34.1g/t Au (~5 km from Blackwater) MRE 105koz @ 3.94g/t Au 650m deep shaft closed 1942 Big River Drill Hole Intercepts: • 6.6m @ 21.4g/t Au (Shoot 4) • 3.0m @ 18.5g/t Au (Shoot 4) • 2.0m @ 12.1g/t Au (Shoot 4) • 6.0m @ 5.1g/t Au (Shoot 4) • 5.9m @ 4.1g/t Au (Shoo
Slide 38: Reefton: Cumberland Happy Valley Shear Zone
Reefton: Cumberland Happy Valley Shear Zone UG mine development potential with 5 high grade shoots over a 2km strike 38 Siren Gold | www.sirengold.com.au
Slide 39: Outlook
OUTLOOK
Slide 40: Commodities: Gold & Antimony price chart
Commodities: Gold & Antimony price chart Average Quarterly Gold Price (USD$/Ounce) Average Quarterly Antimony Price (USD$/Tonne) $25,000 $20,000 $15,000 $10,000 $5,000 $0 • 4-year average price over USD~$1,800 per ounce • 4-year average price over USD~$12,000 per tonne • Has been hitting daily highs
Slide 41: Reefton: Critical Mineral Potential - Antimony (Sb)
Reefton: Critical Mineral Potential - Antimony (Sb) Antimony is extracted from Stibnite, and occurs in association with gold • Antimony is critical to the world production of solar panels, wind turbines, EV’s, energy storage batteries & armaments Strategic Defence Applications • Antimony is a critic
Slide 42: Siren Gold: World Antimony Production
Siren Gold: World Antimony Production (110 kt pa) Russia + China = 85% RUSSIA & TAJIKISTAN Russia Production: 20kt Sb % of World Total: 18% Tajikistan Production: 17kt Sb % of World Total: 14% CHINA Production: 60kt Sb REST OF WORLD % of World Total: 52% Bolivia Production: 2.5kt Sb % of World Total
Slide 43: Shane Jones: Fast Track for Mining
Shane Jones: Fast Track for Mining Fast-Track Approvals Bill Resources Minister Shane Jones announced the Fast- “This bill is to provide a fast-track decision-making process Track Approvals Bill (7 March 2024) including a “major that facilitates the delivery of infrastructure and reset” of regulatio