Siren Gold Limited Annual Report 2021

Directors’ Report St George St George is located in the southern half of the Big River exploration permit 60448 and lies 1.6kms south of the Big River mine, 4kms east of the historic Blackwater mine that produced 740koz at an average grade of 14.2g/t Au (Figure 8). The St George area comprised the Golden Hill, Big River South and St George historical mine areas. In the historic Golden Hill claim a 0.6m to 2m wide quartz reef was found in the late 1800’s. The quartz reef was traced in a series of trenches over a strike length of 900m. A 55m long drive was developed on the northern section of the reef that averaged 0.5m thick and 39 tons were mined and crushed for an average grade of 7g/t Au. This was considered sub economic at the time and no further exploration has been completed. Big River South was discovered in 1908 when a 45m long reef 1.5m wide with visible gold was estimated to grade between 23g/t and 32g/t Au and has similarities with the nearby Blackwater Reef. Good reef was intersected in exploration drives which pinched and swelled. On one level a 100m long gold reef was found but no further work was done to prove its extent or worth and the Reefton South claim was never worked after 1925. Figure 8. Big River - St George arsenic soil plan. St George, just to the south of Big River South, was found after several gold bearing outcrops were found in 1890’s. An early 30m drive was completed on a 1m reef containing quartz and black pug with very encouraging results. 70oz were recovered from 30 tons of ore recovered with an estimated grade of 72g/t Au. Three further reefs were discovered where 37oz were recovered from 16 tons of ore, also with an estimated grade of 72g/t Au. The reefs were found to pinch and swell and, again, development was hampered by lack of funding. The claim was abandoned until 1910 where an ambitious plan was to drive a low-level tunnel from Snowy River. In 1910 a 571m long tunnel was driven north from the Snowy River. From 240m the tunnel was driven along the gold bearing reef with several small gold reefs or quartz boulders intersected along the drive, but none were developed. The war in 1914 stopped any further exploration. Mapping and Sampling Mapping to the south of the Big River mine has confirmed that a large broad Sunderland Anticline extends at least 5kms from the Big River mine to St George and is open to the north and south (Figure 8). This anticline is largely obscured by thin glacial till but there is sufficient basement outcrop in creek beds to map this structure. The main reef track that runs through the St George and Big River South mines is parallel and 250m to the west of the anticline hinge and appears to link into the Big River mine. These structures are prime target areas for Big River mine style mineralisation. for the year ended 31 December 2021 Siren Gold Limited 12