Si6 Metals Limited (ASX: SI6) has delivered its JORC 2012 compliant mineral resource estimate for the Monument Gold Project in Western Australia, with a total inferred gold resource of 154,000 ounces including:
- 3.0Mt @ 1.4 g/t for 139,000 ounces Au at the Korong deposit
- 0.2Mt @ 2.1 g/t for 15,000 ounces Au at the Waihi deposit
The company reports that mineralised shoots at both Korong and Waihi deposits remain open in all directions with “significant” potential for declaration of additional resources pending further drilling. Both deposits are partially suitable for open-pit mining, with further optimisation required.
Monument gold project
Situated across 310km² in WA’s Laverton Gold District, Monument is described by Si6 as a “highly prospective” gold project, sitting adjacent to a series of multi-million ounce gold mines including AngloGold Ashanti’s 9 million ounce Sunrise Dam and and Goldfields’ 8 million ounce Granny Smith and Wallaby mines.
The area is well-served by high-grade infrastructure, including the sealed Leonora-to-Laverton Road, gas pipeline and sealed airstrip.
Monument sits on approximately 30km of gold-hosted banded-iron formation, of which about only 10% has been explored. The formation is interpreted by Si6 to be the same structure that hosts the Westralia gold deposit, which sits within Dacian’s adjacent Mt Morgan Project.
Up next
Si6 reports that it plans to undertake additional infill and step-out drilling to consolidate Monument, along with greenfields drilling at a number of high priority syenite targets.
“The release of the MREs for the Korong-Waihi prospects is a great result for Si6. We now have a resource of circa 154koz which sets a solid foundation”
Management comments
Executive Chairman Patrick Holywell said: “The release of the MREs for the Korong-Waihi prospects is a great result for Si6. We now have a resource of circa 154koz which sets a solid foundation. We will continue to focus on finding resources that support a longer term and potentially larger scale mining operation. We will continue to focus on brownfield exploration where we can grow existing resources but we are also excited with other greenfield targets outside of the BIF horizon. One of these greenfield targets will be tested in September with an air core program over a number of high priority syenite intrusive targets.”
Images: Si6 Metals Limited