- Si6 Metals (SI6) has revealed assay results for the first nine holes of a 34-hole reverse circulation (RC) drilling program at its Monument Gold Project in WA
- The junior miner drilled the holes to 4363 metres in total, with every hole reaching its planned target depth
- While assays are still pending for the majority of holes, Si6 Chairman Patrick Holywell says the early results are “highly encouraging”
- He says mineralisation is open down dip and along strike in several holes and gold has been hit in the hanging wall of each prospect
- Once all of the assays have been received and a geological model at the project finalised, SI6 plans to take on resource estimate work at Korong and Waihi
- Shares in Si6 Metals are trading grey this morning at 1.9 cents per share
Si6 Metals (SI6) has revealed assay results for the first nine holes of a 34-hole reverse circulation (RC) drilling program at its Monument Gold Project in WA.
The junior miner drilled the holes to 4363 metres in total, with every hole reaching its planned target depth.
The drilling program was taken on across the Korong and Waihi prospects at the Laverton Gold District project.
According to SI6, the program was designed to confirm lithological and structural controls in relation to the distribution of gold mineralisation, increase confidence in historic drill data to be included in a new mineral resource estimate, and infill and extend mineralisation along strike and down-dip.
So far, the best assay results received from the Korong prospect include a six-metre hit at 3.15 grams per tonne of gold from 95 metres and a five-metre hit at 3.22 grams per tonne of gold from 130 metres.
Meanwhile, the best hits from the Waihu prospect include a three-metre intersection at 2.38 grams per tonne of gold from 107 metres and a five-metre intersection at 1.17 grams per tonne of gold from 83 metres.
While SI6 is still waiting on assays for the remaining 25 holes from this drilling program, Chairman Patrick Holywell said the results so far are “highly encouraging”.
“Mineralisation remains open down-dip and along strike in a number of holes,” Patrick said.
“In addition, the drilling also intersected numerous zones of gold mineralisation in the hanging wall of each prospect,” he added.
“This is a fantastic result from the first assays received and we look forward to reporting additions results as they become available.”
Looking ahead, SI6 said as the remaining assays are received from the current RC program, the company is reviewing the geological interpretation and revising 3D geological models at both the Korong and Waihi prospects.
Once all of the assays have been received and the geological model finalised, the company then plans to take on resource estimate work at Korong and Waihi. SI6 will follow this up with pit optimisation studies to help plan future drilling programs in the area.
On top of the Monument Gold Project in WA, SI6 also owns the Maibele project in Botswana, which is prospective for nickel, copper, cobalt, platinum group elements (PGE) and silver.
Shares in Si6 Metals retreated on the ASX this morning but have since recouped their losses to trade grey at 1.9 cents each at 11:27 am AEDT. The company has a $26.47 million market cap.