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ASX Announcement

15 June 2022

Further encouraging results from Sihorbo South

Highlights:

  • First phase of drilling completed at Sihorbo South with a total of 5,215 metres in 30 diamond drill holes completed since September 2021
  • Latest drilling results continue to extend Sihorbo South in the Hutabargot Julu area, including the following encouraging gold and silver intercepts:
  1. HUTDD126: 3.0 m @ 25.15 AuEq1 with 24.88 g/t Au and 20 g/t Ag from 112.0, and 7.0 m @ 1.18 g/t AuEq with 0.9 g/t Au and 21 g/t Ag from 129.0m
  1. HUTDD122: 1.8 m @ 2.70 AuEq with 0.82 g/t Au and 138 g/t Ag from
    1. m and 4.5 m @ 1.09 g/t AuEq with 0.72 g/t Au and 27 g/t Ag from
    1. m
  1. HUTDD123: 14.0 m @ 1.85 g/t AuEq with 1.45 g/t Au and 30 g/t Ag from
    1. m, and 6.8 m @ 1.13 g/t AuEq with 0.84 g/t Au and 21 g/t Ag from
    1. m
    1. HUTDD129: 13.1 m @ 1.59 AuEq with 1.29 g/t Au and 22 g/t Ag from
      1. m, and 9.10 m @ 0.75 g/t AuEq with 0.65 g/t Au and 7 g/t Ag from
      1. m
  • Results demonstrate that Sihorbo South is an intermediate-sulphidation epithermal vein and disseminated stockwork deposit that contains significant gold and silver grades
  • Results from the final hole of the program, HUTDD130, are expected to be received by late June
  • Resource modelling is underway targeting a maiden Mineral Resource Estimate this quarter
  • Concept study initiated for incorporation of Sihorbo South into the Sihayo Starter Project as a satellite operation
  • Entitlement Offer has been completed, raising gross proceeds of $9,666,667 and leaving the Company debt free and fully funded to complete the upcoming drilling program targeting Sihayo beneath pit targets

1 Gold-equivalent is reported based on a gold to silver price ratio of 73:1 using 12-month average metal prices in 2021 of US$1,800/oz gold, US$24.6/oz silver and no adjustments for metallurgical recoveries

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Sihayo Gold Limited (ASX:SIH - "Sihayo" or the "Company") is pleased to provide an update on the latest drilling results from the Sihorbo South epithermal gold-silver target at Hutabargot Julu in the North block of the PT Sorikmas Mining Contract of Work ("CoW") located in North Sumatra Province, Indonesia.

Sihayo's Executive Chairman, Colin Moorhead commented on the exploration results:

"Exploration results for Sihorbo South continue to illustrate the potential for the Sihorbo South deposit to become a satellite operation for the Sihayo Starter Project. By utilising the existing infrastructure envisaged for the Sihayo Starter Project, the incremental ounces from Sihorbo South have the potential to add considerable value to the project. We look forward to releasing a maiden Mineral Resource for the deposit shortly."

Sihorbo South - Latest Drilling Results

Assay results have been received for a further eight holes at Sihorbo South (HUTDD122 to HUTDD129 inclusive). A summary of the more significant mineralised intercepts is presented in Table 1 and the complete list of drill hole details and mineralised intercepts is presented in Appendix 1. Drill hole locations are highlighted on Figures 1 to 3 and drill sections are presented in Figures 4 to 12.

Table 1: Sihorbo South Prospect - Summary of significant intercepts

Reported at 0.3 g/t Au cut-off and up to 4m internal dilution

To

Interval

Au eq2

Est True

Hole ID

From (m)

Au (g/t)

Ag (g/t)

Width

(m)

(g/t)

(m)

(m)

HUTDD122

110.80

112.60

1.80

0.82

138

2.70

1.60

including

110.80

111.60

0.80

1.41

210

4.29

0.70

and

152.50

157.00

4.50

0.72

27

1.09

4.00

HUTDD123

153.00

167.00

14.00

1.45

30

1.85

11.2

including

163.40

164.00

0.60

22.00

25

22.34

0.50

and

185.20

192.00

6.80

0.84

21

1.13

5.00

including

186.40

187.45

1.05

2.85

87

4.03

0.85

HUTDD124

123.70

128.40

4.70

0.82

12

0.99

4.00

including

127.80

128.40

0.60

3.06

67

3.98

0.50

and

131.70

133.40

1.70

4.29

85

5.46

1.45

including

132.70

133.40

0.70

9.73

160

11.92

0.60

HUTDD125

100.00

105.60

5.60

0.62

14

0.81

4.75

including

101.70

102.30

0.60

2.04

16

2.25

0.50

and

174.90

182.00

7.10

0.91

13

1.09

6.00

including

179.00

181.10

2.10

2.35

17

2.59

1.80

and

198.60

208.00

9.40

0.69

6

0.77

8.00

including

200.20

201.40

1.20

2.44

21

2.73

1.00

HUTDD126

112.00

115.00

3.00

24.88

20

25.15

2.50

including

113.50

114.00

0.50

67.00

14

67.19

0.40

and

129.00

136.00

7.00

0.90

21

1.18

5.75

including

129.00

129.80

0.80

5.62

137

7.50

0.65

HUTDD127

76.70

88.00

11.30

0.41

27

0.78

9.00

and

147.50

149.50

2.00

2.56

38

3.08

1.60

including

148.00

148.50

0.50

8.97

117

10.57

0.40

2 Gold-equivalent is reported based on a gold to silver price ratio of 73:1 using 12-month average metal prices in 2021 of US$1,800/oz gold, US$24.6/oz silver and no adjustments for metallurgical recoveries

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Table 1: (Cont.) Sihorbo South Prospect - Summary of significant intercepts

Reported at 0.3 g/t Au cut-off and up to 4m internal dilution

To

Interval

Au eq

Est True

Hole ID

From (m)

Au (g/t)

Ag (g/t)

Width

(m)

(g/t)

(m)

(m)

HUTDD128

126.70

141.00

14.30

0.57

16

0.79

11.50

including

128.50

131.00

2.50

1.30

26

1.65

2.00

and

143.70

159.50

15.80

1.31

20

1.59

12.60

including

151.50

152.00

0.50

14.00

65

14.90

0.40

HUTDD129

174.00

187.10

13.10

1.29

22

1.59

10,5

including

180.00

182.00

2.00

2.60

27

2.97

1.60

and

183.50

185.00

1.50

3.46

60

4.28

1.20

and

193.40

202.50

9.10

0.65

7

0.75

7.30

including

198.50

200.00

1.50

2.09

9

2.20

1.20

Figure 1: Sihorbo South Long Section - Gold-equivalent x True-width

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Figure 2: Sihorbo South - Drill Hole Location Plan

.

Figure 3: Sihorbo South - Drill Hole Location Plan and Results Status

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Figure 4: Sihorbo South - Section HUTDD126 showing gold and silver intercepts

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Sihayo Gold Limited published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 22:32:05 UTC.