Si6 finds wide zone of gold mineralisation at its Monument project

Si6 is planning to carry out follow-up testing of the North Well, Celia and Aermotor and other prospects at its Monument gold project after Phase Two aircore drilling returned encouraging results.

Further base metals testing is also planned following the discovery of ultramafic lithologies from the Murrin Murrin domain which are highly prospective for nickel-cobalt.

Numerous +0.1 gram per tonne (g/t) gold intercepts were returned from the three prospects over 8km of strike along the Celia Tectonic Lineament, which highlights its potential to host significant gold mineralisation.

Particular attention was paid to North Well, where drilling to follow-up on significant mineralisation encountered in historical drilling confirmed a northwest trend and association with the Celia Tectonic Lineament.

Si6 Metals (ASX:SI6) noted that mineralisation was observed to extend over 1.2km while remaining open in both directions.

It added that the multi-element signature observed at North Well coincides with elevated bismuth, silver, arsenic, copper and tungsten pathfinder elements indicative of intrusion related gold mineralisation.

There is also potential for further extensions as a further 9km strike of the Celia Tectonic Lineament, which is almost entirely under transported cover, extends from North Well to the southern tenement boundary and remains largely untested.

“North Well is emerging as a key target for Si6 with these results confirming the potential that was highlighted during historical drilling in this area,” exploration manager Michael Jackson commented.

“These results provide us with added confidence as we now look ahead to commencing the Phase Three aircore drilling program at MGP in October.”

Phase Two drilling

Phase Two drilling had consisted of 130 holes totalling about 6,000m testing five prospect areas.

It intersected a wide range of prospective lithologies including granite, porphyry, gabbro, dolerite, ultramafic, sediment and felsic volcanic.

Some of the hole depths exceeded 100m which is indicative of significant regional structures fundamental to the development of mineralised gold systems.

Si6 noted that drilling on the western side of the Celia Tectonic Lineament intersected ultramafic lithologies from the Murrin Murrin domain, which are highly prospective for nickel-cobalt laterite.

Additionally, felsic volcanics intersected at North Well and Aermotor indicate the prospectivity for volcanic-hosted massive sulphide (VHMS) zinc-lead-copper-gold-silver mineralisation.

North Well calling

Historical drilling carried out at North Well in 2010 returned results such as 4m at 1.26g/t gold from 40m and 4m at 1.7gt gold from 76m associated with a northwest trending magnetic structural feature highlighted in geophysics.

Si6’s aircore drilling returned broad intercepts such as 8m at 0.98g/t gold from 56m including 4m at 1.84g/t gold, and 9m at 0.32g/t gold from 52m that ends in mineralisation.

Mineralisation remains open to the northwest and southeast while grab sampling of historical workings along strike and to the northwest of aircore drilling returned up to 22.3g/t gold.

The area southeast of the North Well Prospect is covered by extensive transported overburden with less than 10% of the strike area covered by historical surface sampling and drilling with the greater portion corridor remaining to be explored.

Results from North Well and Aermotor also highlight potential across the Monument gold project area for both bulk tonnage, intrusion-hosted and high-grade, vein-hosted gold mineralisation.

Next steps

Si6 plans to carry out infill and strike extension aircore drilling at North Well and along strike of the 8km magnetic feature during its Phase Three drilling, which is expected to start in October.

Targets identified from ongoing target generation through reconnaissance soil sampling and analysis of the geochemistry database combined with geophysics data will also be drill tested as part of upcoming and future programs.

These include the 1,000m Perseverance IP anomaly 2km along strike of Waihi, and Fred’s Well where grab and rock chip sampling over 700m strike has returned a number of samples +1g/t gold, up to 39.3g/t.

It will also test a number of nickel targets across the project area.

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.