Siren Gold Limited (ASX: SNG) Research Update

Highlights:

• Arrowhead is updating its coverage on Siren Gold Limited (Siren Gold, Siren or the company) with a fair value bracket of AUD 0.26 to AUD 0.41 per share (share price on (January 12, 2024: AUD 0.067) based on the Relative Valuation method.
• In Q4 2023, Siren Gold completed drilling five diamond holes at Auld Creek, each intersecting significant mineralization in the Bonanza East Shoot. High-grade antimony was evident in three of these holes (ACDDH011, ACDDH013 and ACDDH014). The deepest hole, ACDDH014, intersected the Bonanza Shoot approximately 75m below the surface and is open at depth. ACDDH011 also intersected the footwall of the Fraternal Shoot and the base of the block model, which may increase the Fraternal Mineral Resource Estimate (MRE).
• While the assay results are still pending, these mineralization intersections at Bonanza East can increase the overall MRE of the Auld Creek Project.
• As part of future exploration, the company will target Bonanza and Fraternal North mineralization zones. It plans to drill two new holes to test mineralization below the Fraternal North trenches, and three additional holes at Fraternal Shoot to test the mineralization 250m below the surface.
• The recent change in New Zealand’s government and its support to the country’s mining and rare earth minerals industry will fast-track the development of Siren Gold’s assets in the region, providing an upside for the company.