SI6 Metals secures WA funding for Monument regional drilling
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SI6 Metals (ASX:SI6) has secured Western Australia government funding for its upcoming aircore drilling program at the Monument gold project.
The successful application for co-funded exploration drilling through the Department of Mines, Industry, Regulation and Safety’s (DMIRS) Exploration Incentive Scheme means that 50 per cent of some direct drilling costs will be refunded.
SI6 will apply the funding to a multi-hole, regional aircore program targeting bulk tonnage, syenite-hosted gold mineralisation within the 310sqkm Monument tenement package within the highly prospective Laverton Tectonic Zone (LTZ).
The LTZ has produced more than 30 million ounces of gold and yielded some of Australia’s best-known gold mines. It also hosts a number of syenite related gold deposits including the 7Moz Wallaby deposit and the 1.5Moz Jupiter deposit.
Recent analysis of aeromagnetic imagery across the Monument project has identified at least 60 high-level felsic intrusive targets.
Priority targets will be tested with the upcoming 5,000m aircore drilling program, the first exploration work of its kind to be undertaken within the project.
Drilling is expected to begin in June.
Regional soil sampling has also been completed along the Korong-Waihi Corridor and near the Mt Morgans Mining Centre in the south of the project area.
The soil sampling is part of a broader regional exploration strategy aimed at delineating a continued pipeline of exploration targets with assay results expected in May.
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.