Gold hits make Monument a tasty treat for Si6
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Initial assays from Si6’s drill program at the Monument project have intersected numerous broad zones of gold mineralisation with more assays pending.
Notable results from the first nine holes include 6m at 3.15 grams per tonne (g/t) gold from 95m and 5m at 3.22g/t gold from 130m.
The first intersection extends a high-grade shoot identified in historical drilling up-plunge towards the north and closer to surface while the second extended the same shoot down-plunge and to the south.
Si6 Metals (ASX:SI6) plans to carry out resource modelling once it receives assays from the remaining 25 holes ahead of updating resource estimates.
“Results received to date are highly encouraging, with numerous broad zones of gold mineralisation intersected at Korong and Waihi proximal to existing mineralised drill intercepts,” chairman Patrick Holywell said.
“Mineralisation remains open down dip and along strike in a number of holes.
“In addition, the drilling also intersected numerous zones of gold mineralisation in the hanging wall of each prospect.”
Monument covers 310sqkm in a well-established mining district with excellent infrastructure and access.
The sealed Leonora-to-Laverton Road runs directly through the project along with a gas pipeline and the sealed airstrip at Laverton is close by.
Notably, the project is located within the Laverton Technical Zone that has produced more than 30 million ounces of gold and yielded some of Australia’s best-known gold mines.
Si6 noted that the drill results received to date have added confidence to the historical drill database and confirmed the Spadis interpretation at the Korong prospect.
Korong contains a high-grade south plunge mineralised component that exists in addition to a north plunge, with most of the mineralisation hosted at the base of the siliceous chert/banded iron formation horizon.
Further drilling is required at Waihi to determine if its structural controls are similar to those at Korong.
Once all results are received, the company will undertake resource estimate work at Korong and Waihi followed by pit optimisation studies which will guide future drill programs along the Korong-Perseverance corridor.
Regional exploration is ongoing with Si6 currently carrying out a surface LAG and soil sampling program across a number of tenements between Korong and Waihi and in the south of the project area near the Mt Morgan’s mining centre.
This article was developed in collaboration with Six Sigma 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.