Si6 Metals is loading up a new 6,000m aircore program aiming to tap the rich potential of its Monument Gold Project across four high priority target areas including new base metal targets.

The Si6 (ASX:SI6) program, which will consist of 120 holes, will follow up on wide zones of gold mineralisation intersected at the North Well prospect in aircore drilling in May.

In that program, broad zones of anomalous gold mineralisation upwards of 0.1 parts per million (ppm) were identified in the supergene, including 8m at 0.98g/t Au (including 4m at 1.84g/t Au).

Anomalous gold occurred over a strike length of 1,200m, with mineralisation open in both directions, with the current program to test North Well’s strike extensions to a total length of 1,700m along with previously sampled historic workings that returned up to 22.3g/t Au from grab sampling.

Targets at the Fred’s Well prospect, where grab and rock chip sampling over a 700m strike length by Si6 returned samples of up to 39.3g/t Au, will also be included in the program.

Drilling will also be conducted along strike extensions of the Korong Felsic Intrusion, where previous drilling by Syndicated Metals in 2017 hit anomalous gold including 5m at 0.48g/t Au along the contact, or point where rocks meet, between the felsic intrusive and mafic volcanics.

 

SI6 Metals ASX SI6
Aircore drilling has begun at Fred’s Well. Pic: Si6 Metals

 

Nickel-Cobalt Potential

It is not just the obvious gold prospectivity of the Monument Gold Project – which already contains a resource of 3.3Mt at 1.4g/t Au for 154,000 gold ounces – that has Si6 excited.

The third phase of aircore drilling at Monument will also test for extensions to Glencore’s Murrin Murrin nickel and cobalt laterite mineralisation, which has been interpreted from geophysics to extend into the Monument gold project.

Murrin Murrin is the largest standalone nickel laterite mine in Australia, and the country’s only major source of cobalt, a rare metal prized for its use in electric vehicle batteries.

Aircore drilling adjacent to the world class mine on Si6’s turf will be undertaken over 1,600m of ultramafics interpreted from geophysics to extend over the tenement boundary.

 

SI6 Metals ASX SI6
Drilling will take place at the interpreted extension of the Murrin Murrin nickel-cobalt mine mineralisation. Pic: Si6

 

Aircore drilling will be completed by early November, with samples to be submitted shortly after.

Si6’s laboratory commented that turnaround times, which had blown out substantially during recent exploration programs, had improved in recent weeks.

 

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.

 

 

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