28/04/2021 - 13:54

Si6 secures $75k Govt funding to drill for Laverton gold

28/04/2021 - 13:54

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ASX-listed explorer, Si6 Metals has successfully applied for exploration co-funding of $75,000 under the WA Department of Mines’ Exploration Incentive Scheme. The company says the funds will go towards a planned regional aircore drilling program targeting bulk-tonnage, syenite or intrusive igneous rock-hosted gold mineralisation at its Monument gold project within the Laverton Tectonic Zone.

ASX-listed explorer, Si6 Metals has successfully applied for exploration co-funding of $75,000 under the WA Department of Mines’ Exploration Incentive Scheme. The company says the funds will go towards a planned regional aircore drilling program targeting bulk-tonnage, syenite or intrusive igneous rock-hosted gold mineralisation at its Monument gold project within the Laverton Tectonic Zone.

The Laverton Tectonic Zone, or “LTZ” takes in several syenite-related gold resources including Gold Fields Ltd’s seven-million-ounce Wallaby deposit and Dacian Gold’s one-million-ounce-plus Jupiter deposit.

Si6 says a recent appraisal of an aeromagnetic survey flown across the Monument project, located about 40km west of Laverton in WA’s North-Eastern Goldfields, has identified at least 60 intrusive targets.

The Perth-based company will now prioritise the most compelling of these and test them in its upcoming 5,000-metre aircore drilling program, which is slated to commence in June this year.

According to Si6, the aircore drilling campaign marks the first exploration drilling of this type to be carried out at Monument in the search for syenite-hosted gold mineralisation.

Si6 recently completed an initial phase of RC drilling at Monument that was focused on banded iron formation-hosted gold mineralisation.

Better intersections from the 34-hole program totalling 4,363m at the Korong and Waihi prospects include 4m going 5.89 grams per tonne gold from 62m, 6m at 3.15 g/t from 95m, 5m at 3.22 g/t from 130m and 5m at 2.56 g/t from 124m.

Si6 says Korong and Waihi lie on a relatively under-explored auriferous banded iron formation that stretches for about 30km within its 310-square-kilometre Monument tenement package.

An inferred mineral resource estimate for Korong of 855,000 tonnes of ore grading an average 1.8 g/t for 50,000 ounces of contained gold was tabled by previous owners of Monument in 2018.

The company says it plans to follow up the first-phase RC drilling results.

Si6 has also undertaken regional soil sampling along the Korong-Waihi corridor in the south of the Monument project area and near Dacian’s Mt Morgans mining centre, with approximately 900 samples submitted to laboratories in Perth for gold and multi-element analysis.

The soil sampling forms part of the company’s regional exploration strategy aimed at delineating a continued pipeline of exploration targets. Results are expected next month.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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