Operations and financial review (continued) Figure 1. Top of the South Island, geology showing Palezoic rocks in green Directors’ Report These belts are interpreted to correspond with theWestern, Central and Eastern belts of the Lachlan Fold Belt. The Buller andWestern Lachlan belts contain orogenic gold deposits like Bendigo, Ballarat and Fosterville in Australia and the Reefton and Lyell Goldfields in New Zealand. The Eastern Takaka and Eastern Lachlan belts host Sams Creek porphyry and porphyry copper-gold deposits, like Cadia and Ridgeway, respectively. Siren purchased the Sams Creek Project from Sandfire Resources in October 2022. This included an 81.9% interest in EP 40338 and 100% interest in EP 54454 (Figure 2). OceanaGold Ltd (OGL) is New Zealand’s largest gold producer and has retained an 18.1% interest in EP 40338. for the year ended 31 December 2022 Annual Report 2022 5
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