Si6 Metals (ASX:Si6) reports that the liquidators of BCL Limited have consented for Si6 to undertake its exploration activities on the joint venture (JV) tenements (Maibele JV Project in Botswana).
Si6 has been planning since 2021 to drill the project, which is 60% by Si6 and 40% by BCL.
The company notes that it has been ‘frustrating’ for various stakeholders that this has not yet occurred, given the requirement to receive necessary approvals from BCL.
As such, Si6 announces that now the JV approval has been received, Si6 is in a position to finalise its discussions with the relevant government bodies, including the mining and environmental departments, which were awaiting liquidator approvals.
Si6 is in a position to finalise its discussions with the relevant government bodies, including the mining and environmental departments
The Maibele JV Project has previously reported ‘compelling’ drill targets, from the significant amount of work undertaken including the 2021 geophysical programs, which substantially increased the chances of drilling success.
The project contains nickel sulphide mineralisation related to ultramafic intrusions within mobile belt rocks and is broadly similar in style to other ultramafic intrusion related mobile belt nickel discoveries such as IGO’s Nova-Bollinger (ASX:IGO), Chalice Mining’s Julimar (ASX:CHN) and the globally significant Thompson Belt in Canada.
The Maibele JV Project currently hosts a resource of 2.4Mt @ 0.72% Ni, 0.21% Cu + PGMs + Co + Au (see ASX announcement dated 28 April 2015).
In 2022, while approvals have been pending in relation to the JV, Si6 has been focusing on its 100% owned ground in Botswana and can confirm that field teams have now completed soil and rock sampling, trenching, and mapping.
The fieldwork focused on the Maibele East, Mashambe, and Gobjango prospects, targeting base and precious metals.
The prospectivity for pegmatite-hosted mineralisation such as lithium, caesium and tantalum, rare earths and gold is also being investigated. Si6’s technical team is currently collating information received from the program and will report on results and findings in due course.
In Western Australia at the Monument Gold Project, which currently contains a resource of 3.3Mt @ 1.4g/t Au for 154koz Au, Si6 recently completed an aircore drilling program, which followed on from the success of the initial phase of drilling undertaken in late 2021.
The MGP contains multiple target styles of gold mineralisation including banded iron formations and basalt hosted mineralisation, however, significant potential exists in the intrusion hosted targets as demonstrated by nearby bulk tonnage, multi-million-ounce projects with surrounding projects including Wallaby (~7Moz) and Mt Morgans (~2Moz).
Fractionated, felsic intrusives have also been identified belonging to the sanukitoid suite of evolved intrusive rocks similar to that which hosts De Grey Mining Limited’s (ASX:DEG) +8Moz Hemi discovery.
All samples from the latest aircore drilling program have been submitted to the assay laboratory. Recent correspondence from the laboratory has confirmed that results will be provided within the next fortnight.
Si6 is currently planning its next phase of aircore drilling at MGP, which is scheduled for later this quarter. Nickel mineralisation within the Murrin Murrin ultramafic rocks are also being investigated for future work, in addition to other prospective targets for zinc, lead and copper.
Images: Si6 Metals Limited
