SI6 Metals : New Prospect Area With Multiple High Priority Drill Targets

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ASX Code: Si6

ASX Announcement

25 November 2021

NEW PROSPECT AREA WITH MULTIPLE HIGH PRIORITY DRILL TARGETS

GENERATED FROM AMT SURVEYS

Highlights

• Results from 10-line AMT Survey at Airstrip West have identified numerous high quality untested anomalies
• Recent AMT surveys at Maibele North successfully demonstrated the technique accurately maps existing sulphide mineralisation
• Survey results from Maibele North pending
• Multiple high priority drill targets have already been identified
• The Company is progressing planning and approvals required for drilling which is expected to be a combination of reverse circulation and diamond drilling.

Si6 Metals Limited (ASX: Si6 or the Company) is pleased to announce the results of the 10-line AMT surveying recently completed at the Airstrip West prospect, as part of 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 the Maibele North prospect and previously drilled high-gradeCu-Ag discoveries at the Airstrip and Dibete prospects. 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. Si6 commenced a 34- line AMT survey across all three prospects (Maibele, Airstrip & Dibete) in September 2021 and has previously received and released the processed data for Dibete (see ASX Announcement 9/11/2021). The extension surveying at Maibele North is now complete and interpretations are awaited. 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 results in from the Airstrip West prospect continue to demonstrate how useful and successful the AMT survey technique is at identifying targets for us to further explore. From the 10 lines surveyed at Airport West, of significant note include deep responses evident in Lines 2-3,6 and 8-10which all present priority drill targets. Importantly, Line 10 shows a prominent, south dipping anomaly that is possibly a further strike extension to the zones in Lines 8 and 9.

Following results from our AMT survey at Maibele North, we will have then completed the 2021 geophysical survey programs where outstanding results have been achieved. We have been progressing drilling plans and in discussions with a number of parties in relation to obtaining necessary approvals and look forward to commencing drilling as soon possible."

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Airstrip West

Figure 1: Si6 tenement portfolio in Eastern Botswana

1	Airstrip West
	Airstrip Cu-Ag Prospect
	AMT Lines (black)

5 8

6

For

7

3 4

2

9 10

Figure 2: Plan view of the greater Airstrip Prospect showing the 10 completed AMT survey lines (black lines)

overlaid on the gradient array chargeability image and the regional magnetics as an underlay

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Airstrip West AMT Results

The AMT survey was designed to cover specific areas of the recently defined coincident Gradient Array and Pole-Dipole IP response that traverses a large area west of the previously drilled Airstrip Cu-Ag mineralisation (see ASX Announcement 29/06/2021). Results demonstrate strong conductive anomalism close to surface and coincident with the previously defined Gradient Array and Pole Dipole IP responses. The AMT technique sees much deeper than the two IP techniques and as such, has defined some outstanding anomalies that require drill-testing to determine the source of the response. These anomalies all represent new and un-drilled targets and add further upside potential to Si6's Maibele Base Metal project.

Line 1

Line 1 is located in the north-western section of the Airstrip West area and covers the western edge of a large zone of anomalous surface copper geochemical anomalism coincident with cross-cutting structures and minor outcropping secondary copper occurrences. The results from Line 1 show a growing response at the northern end of the line highlighting the need for further AMT surveying across this area before proceeding to drilling.

Lines 2 & 3

Lines 2 and 3 lie at the southwestern end of the Airstrip West area and traverse a strong IP chargeability anomaly. Both lines have revealed very encouraging deep AMT response and present as priority drill targets (Figure 3). The AMT anomalies are coincident with an EM conductor defined by the historic VTEM survey and one shallow historic drill hole (ACRC100 - See ASX Release 27/10/2011) has been completed close to line 2 but failed to test either the AMT or VTEM response. ACRC100 did however, intersect a significant zone of sulphur containing elevated zinc and copper above the AMT response that is likely to represent disseminated pyrite and possible base-metal sulphides.

Zone of elevated sulphur + base metals

ACRC100

Drill target

Drill target

Figure 3: AMT Lines 2 and 3, looking west, showing the strong AMT response in an area containing a single drill hole (ACRC100). The lines are parallel and 300m apart, with the anomaly on line 3 along strike from that on line 2 in the direction of the NE geological trend.

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Line 4

Line 4 was surveyed 600m metres east of Line 3 across the anomalous IP response. The results show a prominent , south-dipping deep AMT response that extends to the bottom of the survey limits (Figure 4). The AMT anomaly is coincident with a strong VTEM conductor that provides confidence that it represents a sulphide body. There is one shallow historic RC hole (see ASX Release 27/10/2011) located close to the section which collared above the AMT anomaly but failed to penetrate the conductive zone. The hole, ACRC099, did reveal a zone of strong sulphur that also returned elevated Ni (>0.3% Ni), Cu, Zn and some Co providing great encouragement that the source of the AMT response is potentially a mineralised sulphide body.

Zone of elevated sulphur, Ni + base metals

ACRC099

Drill target

Drill target

Figure 4: AMT Line 4, looking west, showing the strong AMT response in an area containing a single drill hole (ACRC099). The anomaly lies approximately 600m northeast along the geological strike direction from the response on Line 3.

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Line 5

Line 5 is offset to the NE of Line 4 and shows a moderate AMT response below 400m depth on the southern edge of the line.

Line 6

Located 200m east of Line 5, Line 6 shows a south-dipping response extending from close to surface to around 400m depth in the centre of the section (Figure 5). A second, possibly stronger response is evident below 400m on the southern edge of the section and could possibly represent a strike extension to the anomaly on Line 4. The central anomaly presents as a good RC drill target.

Drill target

Line 6

Figure 5: AMT Line 6, looking west, showing the strong, linear AMT response that presents as another good RC

drill target.

Line 7

Located NE of Line 6, Line 7 does not show any coherent AMT responses representing potential drill targets.

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