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Highlights
- Si6 Metals to initiate drilling at Monument project, targeting Fred’s Well prospect
- Project spans 232 square kilometers in WA's Laverton Gold District
- Historical intercepts show promising gold findings, boosting exploration momentum
Si6 Metals (ASX:SI6), a nanocap mineral exploration company, is preparing to launch a dual drill campaign at its expansive Monument project in Western Australia. The drilling program aims to investigate high-priority targets, particularly the Fred’s Well prospect, which has shown promising historical gold intercepts. With an area covering approximately 232 square kilometers, the Monument project sits within the renowned Laverton Gold District (LGD), known for its significant gold deposits.
The upcoming drilling campaign will utilize both aircore and reverse circulation (RC) drilling rigs. Si6 Metals has outlined plans for around 1,700 meters of core equivalent drilling, which includes 25 aircore drill holes and two RC drill holes. This effort focuses on exploring a mineralized strike estimated to stretch over a 30-kilometer area, which could hold notable potential for additional gold resources.
Fred’s Well, a key prospect within Monument, currently sits outside the company’s established mineral resource estimate, which totals around 154,000 ounces of gold. However, historical drilling results at Fred’s Well have offered promising signs. Among the results, a 24-meter intercept showed an average grade of 3.25 grams per ton (g/t) of gold at a depth of 44 meters. Additional results include an 8-meter intercept at 2.09 g/t gold from 40 meters, an 8-meter intercept at 1.5 g/t gold from 36 meters, and a 12-meter intercept at 3 g/t gold from 72 meters.
To enhance understanding of Fred’s Well’s potential, Si6 Metals is planning a further 370 meters of infill drilling along a 770-meter section of the known mineralized strike. The primary objective of this phase is to confirm the continuity and scale of the gold deposits within Fred’s Well and to determine whether it represents a commercially viable, untapped gold deposit.
Adding to the project’s potential, Si6 Metals reported that rock chip samples collected near the Fred’s Well prospect yielded gold grades close to 40 g/t. Although rock chip samples are generally higher in mineral content, these findings contribute positively to the overall resource assessment of the Monument project.
The company anticipates that successful drilling outcomes at Fred’s Well may pave the way for an updated resource estimate.
