Si6 Metals (ASX:SI6) Completes Drilling of Monument Project Phase Two – The Market Herald

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  • Si6 Metals (SI6) has completed air drilling on its Monument gold project in WA
  • The phase two program targeted bulk tonnage and high-grade gold, specifically testing two felsic intrusions and three structural target zones
  • President Patrick Holywell says early discoveries are ‘promising’ with prospective and ultramafic lithologies intersected at depth
  • All samples have been sent for analysis and the company expects final results within the next four to six weeks.
  • SI6 shares fell 17.7% to trade at 0.7 cents at 1:01 p.m. AEST

Si6 Metals (SI6) has completed phase two of drilling on its Monument gold project in Western Australia.

The core drilling program targeted bulk tonnage and high-grade structural gold in an area directly adjacent to and along Dacian Gold’s (DCN) two million ounce Mt Morgans project.

The program tested five prospects comprising two felsic intrusions and the structural targets Triton, North Well and Celia.

Although assays have not yet been received, drilling has intersected a variety of prospective lithologies with end-of-hole depths exceeding 100 meters across the Celia tectonic lineament.

According to the company, the deeper holes indicate deep alteration along the Celia structure, which is “instrumental” for the development of the Archaean Lode gold deposits.

Ultramafic lithologies have been intersected from the Murrin Murrin domain which are very promising for nickel-cobalt laterite. Drilling also intersected felsic volcanic rocks in the North Well and Aermotor target areas that are promising for volcano-hosted massive sulphide mineralization.

Chairman Patrick Holywell said early findings are “promising” and looked forward to an update from shareholders.

“We are confident that turnaround times for assay results will be accelerated after discussions with the lab,” he said.

All samples have been sent for analysis and the company expects final results within the next four to six weeks.

SI6 shares fell 17.7% to trade at 0.7 cents at 1:01 p.m. AEST.

Abdul J. Gaspar