Si6 Metals (ASX:Si6) reports it has completed the planned 120-hole phase three aircore (AC) drilling program at the Monument Gold Project in Western Australia.
The company says it completed 119 holes for 5,636m undertaken across 4 target areas including Fred’s Well, North Well, Korong felsic intrusion and geological strike extensions to Glencore’s Murrin Murrin Nickel-Cobalt operation.
Si6 has also seen a jump in its share price on the ASX, jumping more than 9% as of 12.50pm AWST.
According to Si6, Monument currently contains a 3.3 million tonne @ 1.4g/t Au for 154,000oz gold resource along the banded iron formation (BIF), and the project contains multiple target styles of gold mineralisation including BIFs and basalt-hosted, as well as potential for ‘large-tonnage’ deposit exists in the intrusion hosted targets.
Monument currently contains a 3.3 million tonne @ 1.4g/t Au for 154,000oz gold resource along the banded iron formation (BIF)
At Fred’s Well, Si6 reports promising complex geology was encountered in the latest program over the tested 750m strike length with mafic and felsic volcanics, chert, sediment, ultramafic and intrusive porphyry intersected and drilling was also designed to target down-dip extensions to mineralised structures observed in significant historic workings which have never been drill tested.
The company says at North Well, 1,750m of strike was drill tested along an interpreted structural corridor following up on wide zones of gold mineralisation (over 1g/t Au) intersected in the supergene horizon in May where aircore drilling intersected 8m @ 0.98g/t Au (including 4m @ 1.84g/t Au).
Complex geology was also intersected with quartz rich granite, porphyry, sediments and mafic volcanics identified with a number of chlorite-altered quartz veining present near the interpreted structure.
Drilling along strike and south of the Korong felsic intrusion intersected several porphyritic felsic dykes hosted in mafic volcanics with quartz veining observed along the intrusive contacts.
Si6 reports maiden drilling along the geophysically interpreted ultramafic rock unit extending from Glencore’s Murrin Murrin nickel-cobalt operation along the eastern contact of the Monument Granite intersected quartz-rich granite, gabbro, dolerite, amphibolite and gneiss.
It also notes the ‘high-grade’ metamorphic rocks coincide with the approximate position of the Celia Tectonic Lineament and will be further investigated for potential gold mineralisation, and all samples (4m composites with 1m end of hole sample) will be submitted to ALS Laboratories in Kalgoorlie for gold and multi-element analysis shortly, with results expected in mid-December.
Si6 Metals is an exploration company operating in Western Australian and Botswana, and it’s projects include the 310km-square Monument Gold Project in the Laverton Gold District in Western Australia, and 7 exploration licences covering around 1,500km-square prospective for nickel, copper, cobalt, platinum group elements (PGE), gold, silver, lithium and tantalum in eastern Botswana.
Images: Si6 Metals Ltd
