Siren Gold has launched a significant $4 million capital raise to enhance drilling operations at its flagship Sams Creek gold project in New Zealand. This funding aims to unlock additional value from high-grade antimony-gold targets at its Langdons and Queen Charlotte projects. The capital raise has garnered strong support from institutional and sophisticated investors, positioning Siren to accelerate its resource growth and development in a market characterized by rising gold and antimony prices.
The Sams Creek project is located in Golden Bay on New Zealand’s South Island. It features a seven-kilometre-long porphyry dyke system and boasts a JORC-compliant mineral resource estimate of **824,000 ounces** at an average grade of **2.8 grams per tonne** (g/t) gold. This positions Sams Creek among the largest undeveloped gold deposits in the country. Notably, over **90 percent** of the drilling to date has focused on the Main Zone fold, leaving numerous potential targets unexplored along the strike and at depth.
Recent drilling has revealed promising results, with wide intercepts such as **47 metres at 2.2 g/t**, **61 metres at 2.5 g/t**, **42 metres at 3.2 g/t**, and **22 metres at 5.4 g/t** gold. According to Siren’s technical director, **Paul Angus**, Sams Creek is one of New Zealand’s “last great underexplored gold systems.” Advanced geological modelling indicates significant potential in untested zones, suggesting that the current estimates may be conservative.
“This funding allows us to fast-track our growth strategy by running drill programs and field exploration in parallel across multiple assets,” said **Zane Padman**, Siren Gold’s newly appointed chief executive officer. The funds will support over **3,000 metres** of infill and step-out drilling, particularly targeting the Carapace, SE Traverse, and Main Zone blocks. The goal is to convert a substantial portion of inferred resources into the higher-confidence indicated category by mid-2026. An updated scoping study, incorporating new geotechnical and metallurgical data, is planned for release in the third quarter of 2026.
The recent capital raise was completed at **5 cents** per share, and the company’s stock has since surged to approximately **7 cents per share**, reflecting a **40 percent** increase. The trading volumes indicate strong investor confidence, with little evidence of stock being flipped in the market.
Siren Gold’s strategy extends beyond Sams Creek. The Langdons project, situated southwest of Reefton, is gaining attention due to its rich historical context. First mined in the late 1800s, records indicate gold grades as high as **2,610 g/t** and silver at **1,120 g/t**. Recent exploration has revealed a **2-metre** thick shear zone enriched with arsenopyrite and stibnite, with portable XRF sampling showing readings up to **8.5 percent** antimony. Some samples have returned even higher stibnite grades, confirming Langdons’ potential for high-value mineralisation.
Antimony has recently gained recognition as a critical mineral, essential for various technologies, including energy storage and advanced electronics. Current prices exceed **US$60,000** (approximately **A$92,000**) per tonne, representing a nearly **100 percent** rise in the past year. Padman describes Langdons as “a project of its time,” highlighting its potential to diversify supply chains for Western markets.
Soil geochemistry at Langdons has delineated a **400-metre** anomalous gold-antimony halo, with ionic leach anomalies indicating extensions beneath shallow cover. These targets are set to be tested in the coming months.
Further east, the Queen Charlotte project near Marlborough has also garnered attention. Siren recently secured an exploration permit for the historic Endeavour mine, New Zealand’s largest past producer of antimony. Historical records show that Endeavour shipped over **3,000 tonnes** of stibnite ore to England, with significant recoveries achieved in past metallurgical tests.
Siren Gold is strategically positioned as gold prices have recently reached about **US$3,400** (approximately **A$5,200**) per ounce, driven by tightening global supply and renewed investor interest in inflation hedges. The rally in antimony prices underscores geopolitical supply pressures and increasing demand in renewables and batteries.
In addition to its promising projects, Siren Gold holds a **17 percent** stake in Rua Gold, providing indirect exposure to the Hauraki gold district. This unique combination enhances Siren’s leverage without diluting its capital position.
Leadership changes at Siren have injected new momentum into the company. Padman, with over **15 years** of experience in exploration and operations, was appointed this month. His track record in delivering resource growth aligns well with the company’s vision, which focuses on advancing Sams Creek while exploring the broader potential of Langdons and Queen Charlotte.
As Siren mobilises drilling rigs and awaits assay results from Langdons, the company is poised to enter a transformative phase. A decision regarding the mining permit for Sams Creek is anticipated by the end of this year, with an upgraded resource model and scoping study to follow in **2026**. Given the current market dynamics, Siren Gold stands at the forefront of New Zealand’s resurgent mining sector, attracting global attention and investment.
