Si6 Metals (ASX:Si6) confirms anomalous gold at WA project...

Si6 Metals (ASX:Si6) confirms anomalous gold at WA project

Mining

ASX:SI6 MCAP $36.82M

Jessica De Freitas Markets Reporter [email protected] 22 December 2020 11:00


Non Executive Chairman, Patrick Holywell
Source: SI6 Metals

• Si6 Metals (Si6) has confirmed anomalous gold mineralisation over a nine-kilometre strike within the Monument Gold Project (MGP) in WA
• The company collected 138 samples from the A1 and Perseverance prospects last month
• Pleasingly, multiple bedrock samples returned a grade of more than 3.0g/t gold and a peak value of 39.3g/t gold at the Fred's Well North workings
• In the new year, Si6 Metals will conduct a reverse circulation drilling program targeting the Korong and Waihi prospects within the project

Si6 Metals (Si6) has confirmed anomalous gold mineralisation over a nine-kilometre strike within the Monument Gold Project (MGP) in Western Australia.

Last month, the company conducted mapping, rock chip and grab sampling work which focused on sampling outcropping mineralised banded iron formations (BIF), siliceous material and waste dumps from historical workings.

138 samples were collected from between the A1 and Perseverance prospects.

Pleasingly, a number of the bedrock samples returned a grade of more than 3.0g/t gold and a peak value of 39.3g/t gold from grab sampling at the Fred's Well North workings.

"Results from recent sampling at Perseverance and Fred’s Wells look promising. We look forward to further enhancing the targets along the corridor and drilling Korong and Waihi prospects next quarter," Chairman Patrick Holywell said.

The company is particularly pleased by the results from Fred's Well, which consists of two groups of workings spanning over 650 metres of strike. Samples taken from this area returned several quartz waste dump samples ranging between 10g/t and 39.2g/t gold.

While sampling from other prospects along the A1-Perseverance corridor returned lower grades, it confirms the gold mineralisation is broadly distributed.

Additionally, Si6 Metals completed 3D geological modelling at the Korong and Waihi prospects which will support an upcoming reverse circulation (RC) drilling program.

The miner will complete 34 holes, for 4375 metres, across the Korong and Waihi prospects to better understand the underexplored areas.