Si6 tracks further shallow gold at Monument

New assays have extended the extent of known shallow, banded iron formation-hosted gold mineralisation at Si6 Metals’ Monument gold project in WA.

Drilling results received for the remaining 25 holes of a 34-hole RC program at the Korong and Waihi prospects included some standout gold intersections for Si6 (ASX:Si6).

Drilling at Korong hit 6m at 1.69 grams per tonne gold from 78m, 5m at 2.56g/t gold from 124m, and 5m at 2.03g/t gold from 60m.

The intersections at this prospect extended mineralisation to the north and the south, with mineralisation detected over a strike length of 550m and remaining open down-plunge for a number of south-plunging mineralised shoots.

The collar location plan for new Korong drill intercepts, with new hits marked in yellow. Pic: Supplied.

At Waihi, standout hits included 4m at 5.89g/t gold from 62m and 3m at 2.45g/t gold from 113m. These high-grade, near-surface intersections extend the mineralised shoot southward.

The collar location plan for new Waihi drill intercepts, with new hits marked in yellow. Pic: Supplied.

Drilling at Waihi spans 680m, with mineralised intersections above 1g/t gold obtained over 600m. Drilling at this project is more broadly spaced than that at Korong, and further drilling is planned.

Both prospects are hosted along 30km of relatively untested gold-hosted banded iron formation interpreted to be the same unit which holds Dacian Gold’s adjacent Mt Morgan project.

The Monument project relative to Dacian’s 2.1-million-ounce Mt Morgan project. Pic: Supplied.

Si6 executive chairman Patrick Holywell said the results from both prospects were extremely encouraging.

“These last results from our first phase Korong and Waihi drilling program have returned some fantastic results, which further extend the areas of known mineralisation at the Monument gold project,” he said.

“Drilling at Korong successfully identified mineralisation over a total strike length of 550m, and most importantly, the mineralisation remains open down-plunge for a number of south-plunging mineralised shoots.

“With only 10% of the 30km strike tested to date, we are extremely encouraged by the potential to define additional gold resources to add to our Korong mineral resource estimate.”

Data validation and 3D modelling are currently underway in preparation for an updated global resource estimate, and reconnaissance lag and soil sampling has also been completed.

The existing mineral resource estimate for Korong contains an inferred 860,000t at 1.8g/t for 50,000oz.

Holywell said Si6 was excited to build on these numbers.

“Phase one results confirm that significant upside remains at both Korong and Waihi to delineate near-surface gold resources, with both prospects remaining open in all directions,” he said.

“We are very excited about the potential of delivering an updated global resource estimate to include Korong and Waihi and our subsequent drill testing of other high priority prospects along the Korong-Waihi corridor including the Perseverance and Old Copper targets.”

Resource estimate work will be followed by pit optimisation scoping studies to determine the nominal drilling depth for open-pit resources at Monument based on the width and depth of current intersects.

The results of this work will also be applied to drilling at other prospects along the Korong-Waihi corridor which to date remain largely untested – including the Perseverance and Old Copper targets.

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.