Si6 Metals Completes Drilling at Monument Gold Project
SI6 (SI6) Share Update December 2024 Monday 2nd
Si6 Metals Completes Monument Gold Drill Program with Promising Results
Si6 Metals Limited (ASX:SI6) has announced the completion of its drilling program at the Fred's Well prospect, part of the Monument Gold Project in Western Australia's Laverton Gold District.
Instant Summary:
- Drill program completed at Fred's Well with 22 aircore and 2 RC holes.
- Total of 1,700 meters drilled covering 1,200 meters of strike.
- Samples sent to ALS laboratory, results expected by year-end.
- Fred's Well is adjacent to Genesis Minerals' 3.3Moz Mt Morgans Project.
- Historical drill intercepts at Fred's Well show promising gold grades.
Drilling Completion at Fred's Well
Si6 Metals has successfully completed its drilling program at the Fred's Well prospect, which is a key target within the Monument Gold Project. The program included 22 aircore (AC) holes and 2 reverse circulation (RC) holes, totaling approximately 1,700 meters of drilling. The drilling covered a 1,200-meter strike length, with all holes reaching blade refusal.
The samples collected during this program have been sent to ALS laboratory for analysis, with results anticipated before the end of the calendar year. Fred's Well is considered a promising gold prospect due to its proximity to Si6's existing 154,000-ounce gold resource and its location along the strike of Genesis Minerals' Mt Morgans Project.
Significance of Fred's Well
Fred's Well has shown historical drill intercepts with significant gold grades, including 24 meters at 3.24g/t Au and 12 meters at 6.35g/t Au. These results highlight the potential of the area to contribute to Si6's overall resource base.
The Monument Gold Project itself covers approximately 232 square kilometers in the Laverton Gold District, a region known for hosting several multi-million-ounce gold mines. This strategic location enhances the project's potential for future development and resource expansion.
The completion of the drill program at Fred's Well is a positive step for Si6 Metals as it seeks to expand its gold resource base. The proximity to major projects like Genesis Minerals' Mt Morgans enhances the strategic value of the Monument Gold Project. Successful assay results could significantly boost investor confidence and potentially lead to an increase in the company's stock value.
Investor Reaction:
Investors and analysts are likely to view the completion of the drill program as a positive development. The anticipation of assay results adds an element of speculative interest, and favorable results could lead to increased stock activity.
Conclusion:
Si6 Metals' completion of the drilling program at Fred's Well marks an important milestone in its exploration efforts. Investors should keep an eye on the upcoming assay results, which could provide further insights into the project's potential and impact on the company's stock performance.