Directors’ Report Cumberland (continued) A high-grade quartz reef located within a shear zone extends for 3kms from Inkerman south through the Gallant, Sir Francis Drake, Merrijigs and Exchange group of workings (Figure 16). At Inkerman gold mineralisation is primarily contained within lenticular quartz lodes, with similar styles and grades to the Blackwater mine, however, there is a small halo of arsenopyrite-gold mineralisation. The reef extended for 100m on surface and was mined down to 97m below surface with a vein thickness ranging from0.3 to 2.1m. Drillhole 97RDD022 was drilled below the old mine workings and intersected 9m@ 6.1g/t Au from 107m (Table 9), indicating that the mineralisation remains open at depth. Gallant contains a shear hosted, 1m-5m thick quartz vein, that extends for over 300m and dips steeply east and west. Diamond hole GLA001 was drilled to the west and appears to have drilled obliquely down a steeply west dipping the reef. The hole intersected a 27mmineralised zone dominated by a quartz reef with visible gold (Figure 17) and disseminated arsenopyrite mineralisation in the hangingwall. The true thickness of the mineralized zone is unclear but estimated to be around 5m. The average down-hole grade of the mineralised zone was 27m@ 74.9g/t Au, which includes 1m@ 1,911g/t Au. The Merrijigs mineralisation extends for around 1.5kms from Sir Frances Drake to Exchange. The shear zone dips to the west and has a true width between 1m and 6.5m. Significant drillholes shown in Table 9 include: 3.3m@ 5.1g/t Au (GLA004), 6.5m@ 4.0g/t Au (87DDMJ02) and 4.2m@ 17.6g/t Au (HVS003). Gold mineralisation is associated with disseminated arsenopyrite in sheared argillite, black pug breccias and minor grey quartz veins. The Golden Lead – A1 mineralisation lies a few hundred metres to the west of Merrijigs. Amineralised zone is up to 27m wide, containing mostly narrow quartz stockwork veinlets within a crushed sandstone unit. Very little mapping has taken place since CRAE first explored the area and mapped and sampled the underground workings in the 1980’s. The broad stibnite soil anomaly is up to 1kmwide and open to the south, and east under cover, and is largely undrilled (Figure 16), is unexplained and is a key target. To the north of Globe Progress, the Cumberland permit contains anomalous stibnite soil geochemistry that extends into the southern Auld Creek area. To date Siren has been focussed on the central Auld Creek around RDD0087 but will start exploring south into this area in 2023. for the year ended 31 December 2022 Siren Gold Limited 26
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