Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to announce that it has entered into a marketing and sales agency agreement (the Agreement) with Ocean Partners USA, Inc. (Ocean Partners) for the future sale of gold-antimony concentrate from its Reefton Project.
Highlights
Siren has appointed Ocean Partners as its sole and exclusive marketing agent for the worldwide sale of gold- antimony concentrate (Product) from its Reefton Project.Siren’s aim is to advance its Projects to production and produce gold doré and gold-antimony concentrate at a central processing facility.Ocean Partners have been mandated to seek a long-term third party off-take contract that includes debt or equity financing for up to US$5 million by the third party, on terms agreed by Siren.Drilling at both Sams Creek and Reefton is currently ongoing, with further drilling results expected next month.
“We are delighted to work with Ocean Partners, a well-established agent with extensive technical, commercial and financial experience. The Agreement will provide an important platform for Siren’s strategic growth initiatives and support Project financing in the future.
Antimony has been recognised as a critical mineral by many Western countries and the potential gold – antimony concentrate from the Reefton Project is a highly desirable product which is highly sought after. We look forward to working with Ocean Partners in delivering a comprehensive solution that benefits our shareholders and sets us up on the ground as we advance towards anticipated future development as a gold and antimony producer”.
Background
Siren is a New Zealand focused gold and antimony explorer, with two key projects in the upper South Island of New Zealand: Reefton (Reefton, Lyell and Paparoa goldfields) and Sams Creek.
In 2024, Siren’s strategy at Reefton is to test all four mineralised shoots at Auld Creek (Fraternal, Fraternal North, Bonanza and Bonanza East) identified from soil sampling, surface trenching and diamond drilling carried out over the past 12 months. The Sams Creek Project is currently undergoing drill testing at the Anvil Zone, identified from an Ionic Leach survey carried out in late 2023.
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