SI6 on the hunt for big gold deposits at Monument
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Explorer SI6 Metals (ASX:SI6) shows no signs of slowing down at the Monument project in WA, where a 125-hole aircore drill project is due to test a number of ‘intrusion style’ gold targets mid-year.
SI6 entered into a binding deal to acquire 100% of the 300sqkm Monument project (MGP) in the Laverton district, adjacent and along strike from Dacian Gold’s (ASX:DCN) Greater Westralia project where a recent resource of 6.8Mt at 4.3g/t Au for 935koz was announced.
An aircore drilling program, aimed at testing Laverton-style intrusion-related gold targets, will kick off mid-year.
This drill program will be the first of its kind across the MGP.
The primary focus of the program is to map out the distribution of syenite intrusives, prospective for bulk tonnage gold mineralisation.
A number of these mammoth deposits already exist within the Laverton Tectonic Zone, including Wallaby (~7Moz gold), Jupiter (~1.5Moz gold), Cameron Well and Calisto.
Following the completion of a 34-hole, 4,439m RC drill program at Korong and Waihi in February this year, Si6 is undertaking a revised, JORC 2012 compliant mineral resource estimate (MRE) at ‘Korong’ and ‘Waihi’ which will include both historic and new drill results.
The current MRE at Korong — 0.86Mt @ 1.8g/t Au for 50,000oz — was undertaken in 2018.
The recent drilling intersected a number of new mineralised zones outside the previous drill area, which will be included in the revised MRE at Korong.
Early-stage exploration like soil sampling and geophysics – fundamental to identifying gold systems — continues to uncover new targets for drilling.
Assay results from recent lag and soil sampling programs across four target areas including Perseverance, Fred’s Well, McKenzie Well and Smith Well have been received with a peak 4,920ppb gold lag sample result from Perseverance.
SI6 is also compiling aerial imagery and geophysics data, extending beyond the limits of the current data set, to form the basis of a major targeting study to generate a pipeline of new exploration targets for drill testing.
Acquisition of high-resolution aerial imagery covering ~390sqkm across the Monument, Fleming Bore and Smith Well tenement groups is in progress.
This article was developed in collaboration with SI6, 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.