High Priority Drill Targets Generated From Dibete AMT Survey

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ASX Code: Si6

ASX Announcement

9 November 2021

HIGH PRIORITY DRILL TARGETS GENERATED FROM DIBETE AMT SURVEY

Highlights

• Impressive results from 14-line AMT Survey at Dibete have been received, generating multiple drill targets
• The results show numerous high quality untested anomalies beneath and along strike from known mineralisation
• Results from lines 3-7 deliver strong AMT result consistent with "Messina Copper" style mineralisation, weighing further support of the potential for Dibete to host breccia-pipe style of copper mineralisation
• Recent AMT surveys at Maibele North have demonstrated the technique accurately maps existing sulphide mineralisation
• Multiple high priority drill targets have been generated which will be incorporated into the Company's upcoming drilling program
• Results from Airstrip and Maibele North AMT surveys currently pending

Si6 Metals Limited (ASX: Si6 or the Company) is pleased to announce the results of the 14 lines of AMT surveying at the Dibete prospect from the Company's extensive geophysical survey across the Maibele Base Metals Project in Botswana (see ASX Announcement 21/09/2021). Si6 is exploring for base and precious metals within the Limpopo Mobile Belt in Botswana, a district known for hosting major nickel and copper producing operations.

The Company's Botswana portfolio contains an advanced Ni-Cu-Co-PGE resource at Maibele North and previously drilled high-gradeCu-Ag discoveries at Airstrip and Dibete. Si6 is undertaking a multi-faceted exploration campaign, employing a variety of ground geophysical techniques designed to target deeper mineralisation for follow-up drill testing.

The Company has completed a 34-line AMT survey at all three prospects (Dibete, Airstrip & Maibele North) and has now received data for Dibete. Results from the surveying at Airstrip and Maibele North is currently pending. Previous AMT surveys at Maibele North successfully mapped the known sulphide mineralisation and identified numerous deeper targets for drill testing (see ASX Announcement 14/07/2021).

Si6 Executive Chairman, Patrick Holywell stated, "The AMT Survey model we are using in Botswana has proven yet again that it is a very successful model in identifying targets for drilling programs. With the results in now for Dibete, we can clearly see that multiple high-qualitytargets exist both beneath and along strike from known mineralisation. We are currently in the final stages of completing our targeting exercises for the upcoming drill program at Dibete and will update the market accordingly. We eagerly await the results from the AMT survey at Airstrip and Maibele North and then onto drilling as soon as possible."

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Figure 1: Si6 tenement portfolio in Eastern Botswana

12 13

10 11

8 9

3 4 5 6 7

1 2

14

Figure 2: Plan view of the greater Dibete Prospect showing the AMT survey lines (black lines) overlaid on the gradient array chargeability image and the regional VTEM 400m depth slice as an underlay. The VTEM shows prominent conductive anomalies at 400m depth below each of the areas to be covered with AMT surveys.

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Dibete AMT Results

The AMT survey was designed to cover areas of the recently defined coincident IP/VTEM responses that encompass previously drilled high-grade Cu and Ag mineralisation (see ASX Announcement 24/06/2021). Results from the 14 lines show strong conductive anomalism close to surface and coincident with the previously defined Gradient Array IP and Pole Dipole IP responses. The AMT technique sees much deeper than the two IP techniques and has defined some outstanding deep anomalies, particularly from Lines 3 to 7 beneath the area of high-grade near surface Cu-Ag mineralisation (Figures 3 to 5).

Lines 3 to 7

Lines 3 to 7 traverse the area of drilled near surface copper and gold mineralisation and show a very promising, strong AMT response beneath the shallow, high-grade mineralisation. The response models as a vertical, pipe-like body and is geometrically reminiscent of the breccia-pipe style of copper mineralisation in the Messina Copper district (Figures 9 & 10). This type of AMT response adds further support to the interpretation of Messina Copper style of mineralisation present at Dibete and will be a high priority drill target in the upcoming drill campaign.

Near surface high-gradeCu-Ag mineralisation	Shallow AMT
	conductive zone

Moderate depth AMT conductive zone

Pipe-like AMT conductive zone

Figure 3: Three-dimensional image, looking NE, of the AMT conductive zone from data collected on lines 3 - 7. Note the "pipe-like" geometry of the model immediately beneath the areas of near surface Cu-Ag mineralisation.

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Limit of previous drilling

Line 5

Line 5-5

Figure 4: AMT Lines 5 and 5-5, looking southwest, showing the strong AMT response at depth beneath the areas of high grade, near surface Cu-Ag mineralisation. The lines are parallel and 50m apart. The images show the 2D vector data from 1D reference mode 2D smooth-model inversion vector NSAMT data

Limit of previous drilling

Limit of previous drilling

Line 3

Line 4

Figure 5: AMT Lines 3 and 4, looking southwest, showing the strong AMT response at depth beneath the areas of high grade, near surface Cu-Ag mineralisation. The lines are parallel and 100m apart. The images show the 2D vector data from 1D reference mode 2D smooth-model inversion vector NSAMT data

Lines 1 & 2

Lines 1 and 2 lie at the southwestern edge of the survey and display a shallow response that is coincident with the IP responses as well as a second, deeper response that extends to beyond 600m depth in a position vertically below the near surface response (Figure 6). Although deep, this could present as a very good drill target if drilling elsewhere establishes that the AMT response represents sulphide mineralisation at depth.

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No previous drilling on section

No previous drilling on section

Figure 6: AMT Lines 1 and 2, looking southwest, showing the strong AMT response in areas of only sporadic

shallow drilling. No drill holes have been completed on either section. The lines are parallel and 100m apart. The

images show the 2D vector data from 1D reference mode 2D smooth-model inversion vector NSAMT data

Lines 8 & 9

Lines 8 and 9 traverse an area bisected by a large dolerite dyke and both show a good AMT response dipping at about 45o towards the north. At Airstrip, Dibete and Messina Copper, Karoo-aged dolerite dykes are spatially associated with copper mineralisation and the coincidence of dolerite and AMT response render lines 8 and 9 as an ideal target for drilling.

No previous drilling on section

No previous drilling on section

Figure 7: AMT Lines 8 and 9, looking southwest, showing the strong AMT response in areas of only sporadic

shallow drilling. No drill holes have been completed on either section. The lines are parallel and 100m apart. The

images show the 2D vector data from 1D reference mode 2D smooth-model inversion vector NSAMT data

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