Mineral-explorer Si6 Metals has fired up an air core rig at its 100 per cent owned Monument gold project in WA’s Laverton gold district. The campaign will build upon an initial phase of drilling undertaken in late 2021 where 18 targets were confirmed as prospective for bulk tonnage gold mineralisation.
The current round of exploration will see 140 holes over about 5000m plunged into five target areas, including the high priority Korong and Aermotor felsic intrusive targets.
Previous work at Korong yielded a 4m hit going 1.38 grams per tonne gold and 4m at 0.19g/t gold whereas Aermotor produced a 4m strike going 0.44g/t.
In addition, structural targets at Triton, North Well and Celia will also be tested as part of the current program.
In the last program Si6 was aiming to map out targets based on multi-element signatures and the work did not specifically target gold. However, the company says the numerous anomalous gold zones above 0.1 g/t gold further confirm its intrusive targets are fertile and prospective for bulk tonnage gold mineralisation.
The Monument project covers 310 square kilometres in a region considered highly prospective and ‘world-class’ as it hosts some high calibre mining companies including Goldfields and its 8-million-ounce Granny Smith and Wallaby Mines and AngloGold Ashanti’s 9-million-ounce Sunrise Dam Mine.
On August 25, 2020, Si6 secured an option to acquire the Monument gold project from ASX-listed DiscovEx Resources.
At the time of the project’s base of gold was centred around the Korong resource of 0.86 million tonnes at 1.8 g/t gold for 50,000 ounces of gold.
Before officially executing the option and acquiring the project in mid-2021, Si6 fired a volley of RC holes into the project and managed to beef up Korong and register another 15,000 ounces from the proximal Waihi deposit.
The result was a staggering 208 per cent increase to the project’s gold inventory now sitting at a tidy 154,000 ounces.
The terms of the deal that was closed shortly after included a total consideration of $575,000 in a mix of cash and shares, Si6 to honour the existing royalties of up to 2 per cent gross revenue and a royalty of up to 1.5 per cent gross revenue bestowed upon DiscovEx.
Notably, the explorer’s efforts with the air core rig in late 2021 turned up a pinch of gold, along with a handful of targets the company says are geologically analogous to the units hosting the region’s elephant-sized deposits.
Time will tell if the explorer’s success with the drill bit continues now the reins are firmly in its hands.
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