Having received final assays from its 2023 drilling program, Si6 Metals (ASX:SI6) is planning to update the Mineral Resource Estimate (MRE) for its Maibele North Nickel-Copper-PGE Project in Botswana.
Si6, which has a market capitalisation of $10.31 million, says the updated MRE will include results from the recent program plus US$5 million spent on historical drilling that has not yet been incorporated.
Maibele North currently hosts an inferred resource of 2.4 million tonnes at 0.72% nickel, 0.21% copper, and 0.63 grams per tonne (g/t) PGEs and gold.
The final batch of assays includes results up to 3m at 0.83% nickel, 0.18% copper, 0.5% cobalt, and 0.36 g/t PGEs from 176m.
Managing Director Jim Malone says: “Our drilling at Maibele North confirmed that Ni-Cu-Co-PGE mineralisation is associated with AMT anomalies and remains open in various directions.
“We now look forward to updating the Maibele North JORC MRE and sharing future plans for our Botswana projects, as well as updates on our Brazilian exploration.”
As previously reported, the program was designed to test geophysical anomalies at depth and along strike from identified induced polarisation (IP) and audio-frequency magnetotellurics (AMT) surveys previously conducted by Si6.
Drilling comprised a combination of reverse circulation and diamond drilling, encompassing 27 holes for 5,690m at its Dibete, Airstrip, and Maibele North projects.
Si6 Metals is a diversified critical minerals explorer focused on its portfolio of assets in Botswana, Brazil, and Western Australia.
As of 31 December 2023, the company had $665,000 cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Si6 Metals
