Si6 Metals Limited (ASX: Si6) has returned promising assay results from the North Well Prospect, Celia and Aermotor and confirmed these prospects require follow up testing from the Phase Two aircore (AC) drilling programme completed in Q2 CY2022 at the Monument Gold Project (MGP), Western Australia.
Drilling was undertaken on tenure directly adjacent to and along strike of Dacian Gold Ltd’s ~2Moz Au Mt Morgans Project. DCN recently received a takeover offer from Genesis Minerals Ltd which is seeking to consolidate WA’s northern Goldfields.
Si6 intends to commence Phase Three AC drilling at MGP next month.
Si6’s 100%-owned MGP currently contains a 3.3Mt @ 1.4g/t Au for 154koz gold resource along the banded iron formations (BIF).
Drilling for Si6’s current 154koz gold resource was completed in 2021 with the resource calculated by CSA Global and announced mid-2021.
MGP contains multiple target styles of gold mineralisation including BIFs and basalt-hosted, however, significant potential for large-tonnage deposits exists in the intrusion hosted targets.
Si6 is currently focused on prospects where geochemical analysis provides indications of the existence of fractionated, felsic intrusives belonging to the sanukitoid suite of evolved intrusive rocks. Such prospects are significant when taking into consideration the similarities with other gold-bearing sanukitoid intrusions such as Hemi (~11Moz) or Tropicana (~5Moz), as well as other nearby bulk tonnage, multi-million-ounce projects such as the Wallaby (~7Moz) and Jupiter (~1.5Moz) projects.
We are pleased to receive the final assay results from our Phase Two drilling programme at MGP which have continued to deliver promise for the company, in this instance particularly at the North Well prospect,” Exploration Manager, Michael Jackson, said.
“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. These results provide us with added confidence as we now look ahead to commencing the Phase Three aircore drilling program at MGP in October.”
Next Steps
Infill and strike extension AC drilling at North Well and along the strike of the eight km magnetic feature is planned for Phase Three AC drilling expected to commence in October 2022.
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 programmes.
These include the 1,000m long Perseverance IP anomaly 2km along strike of Waihi (0.2Mt @ 2.1g/t for 15koz Au resource), Fred’s Well where grab and rock chip sampling over 700m strike has returned a number of samples >1g/t Au, up to 39.3g/t Au.
In addition, the company intends to systematically test a number of nickel targets across the project area including strike extensions to Glencore’s Murrin Murrin Ni-Co Project which extend into the MGP.
One metre re-splits of composite drill intercepts >0.2g/t from Phase Two AC drilling have been collected and submitted to ALS Kalgoorlie for Fire Assay gold analysis to validate the mineralised intercepts and identify individual samples containing the best gold mineralisation. On receipt of the re-split assays, further field work will be undertaken to identify the nature and style of the gold mineralisation which will help navigate future drill programmes.