ASX Today, page-12

If the corridor between Bacchus, Kraken, and Gibraltar proves continuous, MI6 could be sitting on one of WA’s next large-scale open-pit gold systems. Current resources stand at 2.2Moz, but geological modelling, recent intercepts, and strike potential suggest this could scale materially higher — into the 5–10Moz range.

Already confirmed:

• Multiple stacked lodes at Gibraltar and Kraken
• Near-surface intercepts with strong width and grade
• Company has stated Kraken and Bacchus are “under-drilled, not unmineralised”
• Deeper hits below historic levels indicate the system extends down-plunge

So, what are the odds? Based on historical outcomes from similar ASX developers like De Grey, Bellevue, and Genesis, the probability of confirming structural and mineral continuity through step-out and infill drilling sits between 70–80% — especially when the host geology is consistent, mineralisation is already known across zones, and the campaign is well-funded.

MI6 is now executing an 80,000m drilling program aimed precisely at these gaps. If successful, a JORC upgrade could materially re-rate the stock — especially in a high-gold environment ($3,000–$4,000+/oz). The market is still pricing it like a small explorer, but this may not last once the corridor thesis is confirmed.