Si6 Metals has unearthed promising hints of gold from an air core drilling blitz across a plethora of under-explored targets at its Monument gold project near Laverton.
The company is on the hunt for bulk-tonnage, syenite or ‘intrusive’ igneous rock-hosted gold mineralisation similar in style to the geological setting hosting the nearby seven-million-ounce Wallaby gold deposit, also in the Laverton Tectonic Zone.
Si6’s air core exploration drilling program focused on high-priority syenite intrusion-related gold targets identified from an aeromagnetic survey carried out across the Monument project. The survey culminated in at least 60 felsic intrusive targets prospective for bulk-tonnage gold.
The company put down 126 air-core drill holes for a total of 4198 metres, testing 26 of the prospective felsic targets at the project.
Samples sent to the assay lab underwent gold and multi-element analysis with end of holes analysed to characterise rock types. A spectral analysis to identify styles of alteration associated with intrusion related gold mineralisation was also completed.
Management says multi-element assay data indicates 18 of the 26 targets drilled exhibit distinct geochemical signatures of fertile intrusive rocks.
The intrusives reportedly spread over a 30km strike, spanning the entire project and according to the company, display stark similarities to the nearby 1.5 million ounce Jupiter gold deposit and the 250,000 ounce Cameron Well gold deposit located in the neighbouring Mt Morgans gold project owned by Dacian Gold.
Whilst the drilling was designed to map out the location of the prospective intrusive felsic rocks, the company says several encouraging gold intercepts were returned including 4m at 1.38 grams per tonne gold from surface and 4m at 0.44g/t gold from 36m downhole.
Of the 26 targets drilled, the Korong intrusive has topped the list of high priority targets. Covering a circular area 2km in diameter, Si6 says multi-chemistry analysis indicates the Korong intrusive belongs to the sanukitoid suite of evolved intrusive rocks. Typically, sanukitoids are mantle derived rocks and are commonly enriched in gold.
Si6 Metals Executive Chairman, Patrick Holywell said: "The Korong intrusive associated with rocks of the sanukitoid suite makes me quite excited as we know De Grey Mining has a similar suite up in the Pilbara and most people know how that played out ”
Broad-spaced drilling by previous explorers along the southwest edge of the Korong intrusive kicked up a few anomalous intercepts including 8m returning 1.06g/t gold and 4m going 1.01g/t gold.
Encouragingly, anomalous mineralised drill intercepts reportedly extend nearly 2km in strike and are coincident with gold-in-soil geochemical anomalism. The company says a 4km target corridor remains open northwards to Korong and southward to the Old Copper prospect and is largely underexplored.
Another promising felsic target identified by the company is the McKenzie Well Intrusive target that lies tantalisingly close to the McKenzie Well gold deposit where Dacian has released a maiden mineral resource estimate of 34koz of contained gold.
Buoyed by the drilling results, Si6 says it is in the process of purchasing historical induced polarisation geophysical data collected along the western edge of the Korong intrusive, that it will reinterpret with the help of Southern Geoscience Consultants.
Si6 says a sub-audio magnetic survey is also planned for the Korong-Old Copper mineralised corridor aimed at better defining gold hosting structures before letting the drill rig loose.
Si6 appears to have a solid grab bag of high priority gold targets and a new geological model to guide the next phase of exploration in a region known to throw up multi-million ounce deposits.
Things could get interesting quickly if its exploration efforts start to bear fruit.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
