Christmas comes early at Si6 with broad gold zones in Fred’s Well aircore assays
Link copied to
Santa isn’t due for a few days yet, but Si6 Metals has delivered an early Chrissy present with a string of gold hits from its maiden drilling program at the Fred’s Well Prospect in WA’s Goldfields.
The thesis at Fred’s Well, part of the Monument gold project in the Laverton gold district, is that it along with other prospects hosts similar gold mineralisation to Dacian Gold’s (ASX:DCN) ~2Moz Mt Morgans gold project.
Final assay results are now in from the Phase Three aircore program at Monument, where 119 holes were drilled for 5636m across four prospect areas.
Aircore drilling by Si6 Metals (ASX:SI6) has given some positive indications Fred’s Well is looking good, intersecting broad zones of anomalous gold mineralisation of up to 20m wide.
Best intercepts included:
There were also positive results from the North Well prospect, where drilling covered 1700m of total strike and anomalous gold of more than 0.1g/t was intersected over a 1500m strike length.
Follow-up aircore drilling returned 1m at 9.03g/t from 4m in hole MOAC297, 4m at 1.1g/t from 56m in MOAC299 and 20m at 0.39g/t from 60m, including 4m at 1.06g/t in MOAC327.
Monument already boasts the Waihi and Korong resources, which boasts a combined inferred gold inventory of 154,000oz.
Si6 has reported significant aircore results outside these deposits from Fred’s Well, Korong Syenite South, North Well and Murrin Murrin Nickel, where it is looking for similar deposits to Glencore’s nearby world class nickel laterite mine of the same name.
Weakly anomalous nickel mineralisation (4m @ 388ppm, MOAC353 from 52m) was intersected in a moderately foliated gabbro at the Murrin Murrin prospect, Si6 said.
“Although the immediate area does not appear prospective for nickel, intense shearing and foliation along the granite-amphibolite contact is prospective for gold mineralisation,” the company noted.
Si6, which also owns the majority stake in the Nova-Bollinger and Julimar style Maibele JV in Botswana, a nickel, copper and PGE project, is completing detailed structural and geochemical analysis of the drilling data to determine the orientation of mineralised zones at Fred’s and North Wells.
The explorer says the process will help with strike extension drilling, with multi-element signatures associated with the anomalous gold also being analysed to identify any pathfinder elements.
“These will be used to identify additional targets from the comprehensive surface geochemical data set,” Si6 reported.
This article was developed in collaboration with Si6 Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.