Overview
Proven “High-Grade Mining District”
The Reefton Goldfield is located on the West Coast of the South Island of New Zealand.
The Reefton Goldfield discovered in 1866 is acknowledged as once forming part of the huge Victoria Goldfield in Australia with the region having geological similarities to the 4.5m ounce Fosterville Gold Mine in Victoria owned by Kirkland Lake Gold.
Previous gold production along the Reefton Goldfield of >2Moz @ 16g/t Au with 84 underground operational mines.
Most underground mining ceased circa WWII (1942) and the Goldfield has never been subject to modern exploration techniques.
Siren Golds Strategic Tenements
The Siren Gold tenement package has the potential for seven individual mine areas:
- Alexander River
- Current MRE: 170koz @ 5.0g/t Au
- Big River
- Current MRE: 105koz @ 3.9g/t Au
- Sams Creek
- Current MRE: 824koz @ 2.8g/t Au
- Cumberland
- Current MRE: 103koz @ 2.7g/t Au
- Lyell Goldfield
- High-grade Gold: 3.0m @ 19.1g/t Au
- Auld Creek
- First drillhole: 8m @ 12.0g/t AuEq
- Reefton South
- Considered to be a ~20km+ extension of the Reefton Goldfield
Neighbours & Government
Federation Gold finalised agreement with OGC in July 2018 on the Blackwater Mine and received a Mining Licence in December 2018 (6 months). Federation Gold has since developed twin declines as the Blackwater Mine. This was supported by:
- The New Zealand Government backed Provincial Growth Fund approved a NZ$15M loan for Federation to re-establish the Blackwater Mine.
- Federation Gold secured $50m co-funding from Australian Super to take a 49% stake in the company.
Other investment in the region includes Clive Palmer’s Mineralogy, Advent Gold, and Reefton Gold, which is backed by prominent Canadian investors including Eric Sprott and Oliver Lennox-King.
New Zealand has an extensive and successful history of gold mining, with country’s largest producer, OGC, currently operating the Waihi and Macraes gold mines, which produce over 200koz p.a. Macraes and has operated continuously since 1990.
