VERITY RESOURCES LIMITED — Capital/Financing Update 2022

Dec 18, 2022

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ASX Code: Si6
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ASX Announcement

19 December 2022

BROAD, HIGH-GRADE GOLD INTERSECTED IN AIRCORE DRILLING AT MONUMENT GOLD PROJECT, WESTERN AUSTRALIA

Highlights

• Maiden aircore drilling at the Fred’s Well Prospect has intersected shallow, broad, highgrade gold mineralisation as part of the Phase Three aircore program at Monument Gold Project.

• Aircore drilling also intersected broad zones of anomalous gold mineralisation at North Well up to 20 m wide.

• Best drilling intersections include:

Fred’s Well

• 24m @ 3.24g/t Au (MOAC262 from 44m) including 12m @ 6.35g/t Au

• 8m @ 2.09g/t Au (MOAC265 from 40m)

• 8m @ 1.48g/t Au (MOAC256 from 36m)

• 12m @ 1.01g/t Au (MOAC277 from 20m)

• 3m @ 2.98g/t Au (MOAC374 from 72m) ending in mineralisation

North Well

• 1m @ 9.03g/t Au (MOAC297 from 4m)

• 4m @ 1.10g/t Au (MOAC299 from 56m)

• 20m @ 0.39g/t Au (MOAC327 from 60m) including 4m @ 1.06g/t Au

• Drilling at Fred’s Well tested two areas of workings covering 370m strike out of a total 770m strike.

• Drilling at North Well covered 1,500m strike with mineralisation open to the northwest.

Si6 Metals Limited ( ASX: Si6 or the Company ) is pleased to announce that it has received the final assay results from the Phase Three aircore drilling program completed at the Monument Gold Project (MGP), Western Australia where 119 holes were drilled for 5,636m across four prospect areas (Figure 1, Table 1). The MGP lies directly adjacent to and along strike of Dacian Gold Ltd.’s (ASX:DCN) ~2Moz Au Mt Morgan’s Project).

Since acquiring the MGP in 2020, Si6 has been undertaking reconnaissance style aircore drilling across the 304km[2] project area to test for a wide range of gold mineralisation styles similar to those evident in DCN’s adjoining Mt Morgans Gold Project. These include bulk tonnage felsic intrusion hosted along with banded iron formation (BIF) and mafic shear zone hosted gold mineralisation. In contrast to the Mt Morgans Project, more than 50% of the MGP comprises shallow surface cover and remains largely untested by shallow surface drilling. The MGP also contains interpreted strike extensions to the host rocks to Glencore’s Murrin Murrin Ni-Co operation which are considered prospective for Ni-Co laterite mineralisation.

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Figure 1 . Prospect location plan and significant intercepts from Phase 3 aircore drilling program at MGP.

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Table 1 . Significant intercepts from the Phase 3 aircore drilling program at Monument Gold Project.

Prospect	Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Comments
Fred's Well	MOAC256	36	44	8	1.48
	MOAC262	44	68	24	3.24	including 12m@ 6.35g/t Au
	MOAC265	40	48	8	2.09	including 4m@ 3.54g/t Au
	MOAC269	32	48	16	0.74	including 4m@ 1.96g/t Au
	MOAC277	20	32	12	1.01
	MOAC374	72	75	3	2.98	ended in mineralisation
North Well	MOAC297	4	5	1	9.03
	MOAC299	56	60	4	1.1
	MOAC326	56	64	8	0.37
	MOAC327	60	80	20	0.39	including 4m@ 1.06g/t Au

Fred’s Well

Aircore drilling at Fred’s Well was undertaken with holes positioned on 100m spaced drill lines with collars 40m apart. Previous drilling had been undertaken at the north end of the northern group of workings on a 50m by 100m grid and consisted of shallow, vertical holes which appear to have missed the mineralised zone which projects to surface in between the historic drill collars (Figure 2).

The Fred’s Well geology is complex, comprising a mixed package of mafic, ultramafic, shale, chert and felsic porphyry intrusive lithologies. The northern portion of the Fred’s Well gold mineralisation occurs along sheared lithological contacts, predominantly associated with sediments and ultramafics. The best intersections from drill holes MOAC262 and MOAC374 are associated with a sediment-ultramafic contact. Historic workings suggest this gold occurrence is located on the intersection of 360[o] trending lithological sediment-ultramafic contact and a cross-cutting 300[o] north-west trending shear zone. Weakly mineralised quartz veining occurring in the hanging wall of the broader mineralised zone in holes MOAC262 and MOAC374 returned:

• MOAC262: 24m @ 3.24g/t Au from 44m including 12m @ 6.35g/t Au , and

• MOAC374: 3m @ 2.98g/t Au from 72m

Drill hole MOAC374 was abandoned at 75m depth due to the rods becoming bogged in weathered ultramafic and the hole ended in mineralisation (Figure 3). In the southern portion of Fred’s Well, the occurrence of felsic porphyry increases. Hole MOAC277 intersected significant mineralisation associated with a 200m strike length of historic workings, which are located along the eastern contact of sediments and an interpreted 40m wide porphyry unit.

These drilling results indicate the presence of multiple mineralised contacts associated with a ~100m wide stratigraphic sequence, consisting of ultramafics, felsic porphyry, mafic volcanics and sediments, which extend for a strike length of >400m. Elevated Ag, As, Ba, Bi, Cu and Mn with >20ppm As and >100ppm Cu associated with the anomalous gold mineralisation are indicative of hydrothermal mineralisation associated with high level intrusives and will also be used as pathfinder elements in surface geochemical sampling to plan future drilling programs.

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Figure 2. Fred’s Well showing significant intercepts from Phase 3 aircore drilling program.

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ASX Announcement
MOAC262
24m @ 3.24g/t Au MOAC374
Incl. 12m @ 6.35g/t Au 3m @ 2.98g/t Au
Ends in mineralisation
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Figure 3. Fred’s Well cross section showing significant intercepts in holes MOAC262 and MOAC374.

North Well

Follow-up aircore drilling at the North Well Prospect targeted strike extensions to the Phase Two aircore drilling program with collars positioned along 200m spaced drill lines at 40m centres. Drilling covered 1,700m total strike with anomalous gold >0.1g/t intersected over 1,500m strike length (Figures 4 and 5).

The North Well geology comprises a mixed package of mafic, ultramafic, shale, chert, granite and felsic porphyry with numerous granitic and porphyry dykes occurring in the northwest of the prospect area. The majority of the gold intersections in this area are associated with the contacts of felsic porphyry or granitoid with either mafic volcanics or sediments. Felsic granitoids up to 125m wide have been interpreted.

The exception is supergene gold mineralisation associated with holes MOAC326 (8m @ 0.37g/t Au from 56m) and MOAC327 (20m @ 0.39g/t Au from 60m including 4m @ 1.06g/t Au) which overlie mafic volcanics in an area where major cross-cutting aeromagnetic lineaments intersect. Gold mineralisation is interpreted to occur along a northwest trending shear zone however, closer spaced (20m) drilling centred around MOAC327 suggests that broad, higher-grade mineralisation may be associated with a west-northwesterly structure, which crosscuts the northwest trending shear zone (Figure 4).

Strike extension drilling at the north-western end of the prospect area intersected further anomalous gold mineralisation >1g/t including:

• MOAC299: 4m @ 1.10g/t Au within fresh mafic volcanic, flanked by wide felsic porphyry the contacts of which remain to be drilled; and

• MOAC297: 1m @ 9.03g/t Au located near a felsic -mafic volcanic contact.

Elevated Ag, As, Ba, Bi, Cu, Mo and W with >40ppm As, >5,000ppm Cu, >15ppm Mo and >1,000ppm W associated with the anomalous gold mineralisation are indicative of hydrothermal mineralisation associated with high level intrusives and will also be used as pathfinder elements in surface geochemical sampling to plan future drilling programs.

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Figure 4. North Well showing significant intercepts from Phase 3 aircore drilling program.

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Figure 5. North Well showing significant intercept in hole MOAC299.

Korong Felsic Intrusion (South) and Murrin Murrin Nickel Target

Aircore drilling of basalt-hosted porphyry dykes along the southwestern edge of the Korong Felsic intrusion did not return any significant result although a number of porphyry dykes with quartz veining were intersected in the drilling. Anomalous gold mineralisation was intersected in hole MOAC284 (4m @ 0.13g/t Au from 4m) associated with sheared basalt at the north-western edge of the drill area.

Drilling for nickel laterite over a 1,600m strike of ultramafic rocks interpreted from the geophysics as extending from Murrin Murrin into the MGP intersected fresh granite and amphibolite with no apparent nickel laterite development. Weakly anomalous nickel mineralisation (4m @ 388ppm, MOAC353 from 52m) was intersected in a moderately foliated gabbro and although the immediate area does not appear prospective for nickel, intense shearing and foliation along the granite-amphibolite contact is prospective for gold mineralisation.

Future Work Programs

Detailed structural and geochemical analysis of the drilling data is underway to determine orientation of the mineralised zones at Fred’s and North Wells which will assist with strike extension drilling. Multielement signatures associated with the anomalous gold mineralisation are also being analysed to identify pathfinder elements. These will be used to identify additional targets from the comprehensive surface geochemical data set.

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Appendix A - Drill Hole Information

Significant intercepts calculated using 0.1g/t Au cut-off with no internal waste. Holes that returned no significant results (<0.1g/t Au) have not been included.

Hole ID	East	North	RL	EOH (m)	Dip (°)	Azimuth (°)	From (m)	To (m)	Interval (m)	Gold Grade (g/t)
MOAC256	397346	6833398	477	87	-60	272	36	44	8	1.48
							56	60	4	0.45
							76	80	4	0.81
MOAC259	397511	6833403	475	84	-60	269	56	60	4	0.35
							68	80	12	0.21
MOAC260	397461	6833363	475	51	-60	270	24	32	8	0.23
							36	40	4	0.11
MOAC262 MOAC265	397430	6833334	476	102	-60	270	28	32	4	0.22
							36	40	4	0.3
							44	68	24	3.24
	397453	6833301	475	84	-60	262	40	48	8	2.09
MOAC273	397716	6832943	472	111	-60	243	32	36	4	0.33
MOAC277	397766	6832851	472	86	-60	247	20	32	12	1.01
							36	40	4	0.15
MOAC284	400192	6828869	456	24	-60	275	4	8	4	0.13
MOAC293	396762	6827031	468	49	-60	250	40	44	4	0.1
MOAC294	396792	6827051	468	53	-60	251	36	40	4	0.13
MOAC297	396906	6827103	469	6	-60	241	4	5	1	9.03
MOAC299	396867	6826872	468	61	-60	244	56	60	4	1.1
MOAC307	396881	6826769	467	50	-60	248	28	32	4	0.13
							49	50	1	0.2
MOAC315	396992	6826584	468	39	-60	248	20	24	4	0.16
							32	38	6	0.14
MOAC326	397499	6826012	466	74	-60	241	44	48	4	0.18
							56	64	8	0.37
							72	73	1	0.11
MOAC327 MOAC338	397534	6826029	467	87	-60	240	60	80	20	0.39
	397876	6825846	469	76	-60	245	68	76	8	0.14
MOAC374	397447	6833332	475	75	-60	250	72	75	3	2.98

Drill collar coordinates (GDA94 zone 51south).

Hole ID	East	North	RL	EOH (m)	Dip (°)	Azimuth (°)
MOAC256	397346	6833398	477	87	-60	272
MOAC257	397401	6833401	477	66	-60	262
MOAC258	397449	6833401	476	72	-60	264
MOAC259	397511	6833403	475	84	-60	269
MOAC260	397461	6833363	475	51	-60	270

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MOAC261	397444	6833365	476	53	-60	270
MOAC262	397430	6833334	476	102	-60	270
MOAC263	397348	6833305	477	59	-60	269
MOAC264	397401	6833306	476	40	-60	270
MOAC265	397453	6833301	475	84	-60	262
MOAC266	397498	6833307	474	30	-60	265
MOAC267	397323	6833202	478	38	-60	266
MOAC268	397373	6833201	477	47	-60	266
MOAC269	397437	6833210	475	53	-60	284
MOAC270	397471	6833201	474	57	-60	273
MOAC271	397644	6832908	473	63	-60	240
MOAC272	397680	6832925	473	85	-60	247
MOAC273	397716	6832943	472	111	-60	243
MOAC274	397753	6832957	472	75	-60	242
MOAC275	397691	6832823	474	66	-60	255
MOAC276	397728	6832836	473	54	-60	246.5
MOAC277	397766	6832851	472	86	-60	247
MOAC278	397798	6832865	472	28	-60	236
MOAC279	397838	6832884	471	38	-60	247
MOAC280	397732	6832721	475	66	-60	244
MOAC281	397765	6832737	475	70	-60	243
MOAC282	397799	6832755	474	53	-60	242
MOAC283	397838	6832782	473	40	-60	242
MOAC284	400192	6828869	456	24	-60	275
MOAC285	400238	6828864	456	8	-60	272
MOAC286	400282	6828863	456	5	-60	270
MOAC287	400319	6828861	456	9	-60	275
MOAC288	400358	6828861	456	24	-60	278
MOAC289	400275	6828760	458	8	-60	268
MOAC290	400323	6828758	458	11	-60	267
MOAC291	400408	6828666	459	9	-60	263
MOAC292	400410	6828665	459	20	-60	263
MOAC293	396762	6827031	468	49	-60	250
MOAC294	396792	6827051	468	53	-60	251
MOAC295	396835	6827066	468	60	-60	249
MOAC296	396872	6827083	468	35	-60	237
MOAC297	396906	6827103	469	6	-60	241
MOAC298	396843	6826853	467	59	-60	247
MOAC299	396867	6826872	468	61	-60	244
MOAC300	396904	6826890	468	76	-60	247.5
MOAC301	396942	6826904	468	50	-60	254
MOAC302	396971	6826914	468	34	-60	242
MOAC303	396980	6826919	468	27	-60	240
MOAC304	397015	6826936	468	16	-60	240
MOAC305	397053	6826952	468	22	-60	244
MOAC306	397089	6826970	468	31	-60	243

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MOAC307	396881	6826769	467	50	-60	248
MOAC308	396933	6826788	467	53	-60	249
MOAC309	396880	6826654	467	21	-60	250
MOAC310	396924	6826662	467	46	-60	240
MOAC311	396962	6826681	468	48	-60	242
MOAC312	396998	6826702	468	25	-60	249
MOAC313	397033	6826714	468	28	-60	246
MOAC314	397067	6826729	468	66	-60	243
MOAC315	396992	6826584	468	39	-60	248
MOAC316	397026	6826593	468	21	-60	248
MOAC317	396988	6826449	468	99	-60	247
MOAC318	397019	6826467	468	6	-60	245
MOAC319	397060	6826483	469	6	-60	246
MOAC320	397095	6826498	469	19	-60	243
MOAC321	397133	6826516	469	33	-60	246
MOAC322	397169	6826532	469	29	-60	248
MOAC323	397202	6826543	469	30	-60	244
MOAC324	397237	6826560	469	28	-60	245
MOAC325	397465	6825990	466	60	-60	239
MOAC326	397499	6826012	466	74	-60	241
MOAC327	397534	6826029	467	87	-60	240
MOAC328	397567	6826051	467	97	-60	238
MOAC329	397599	6826068	467	87	-60	240
MOAC330	397593	6825701	467	66	-60	242
MOAC331	397626	6825716	468	74	-60	240
MOAC332	397663	6825737	468	71	-60	243
MOAC333	397694	6825752	468	97	-60	238
MOAC334	397732	6825772	468	67	-60	245
MOAC335	397771	6825791	468	65	-60	243
MOAC336	397807	6825809	468	63	-60	236
MOAC337	397841	6825828	469	61	-60	241
MOAC338	397876	6825846	469	76	-60	245
MOAC339	397668	6825529	468	45	-60	240
MOAC340	397701	6825550	468	65	-60	243
MOAC341	397743	6825565	468	75	-60	232
MOAC342	397770	6825586	469	72	-60	242
MOAC343	397806	6825608	469	78	-60	239
MOAC344	397840	6825631	469	71	-60	230
MOAC345	397876	6825648	469	69	-60	242
MOAC346	397909	6825670	468	16	-60	243
MOAC347	393747	6827197	472	57	-90	0
MOAC348	393853	6827198	471	37	-90	0
MOAC349	393945	6827198	471	28	-90	0
MOAC350	394048	6827198	470	32	-90	0
MOAC351	394149	6827198	470	36	-90	0
MOAC352	394250	6827205	470	27	-90	0

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MOAC353	394348	6827204	470	61	-90	0
MOAC354	394400	6828806	477	35	-90	0
MOAC355	394305	6828800	477	40	-90	0
MOAC356	394201	6828803	478	52	-90	0
MOAC357	394103	6828800	478	31	-90	0
MOAC358	393904	6828800	478	8	-90	0
MOAC359	394301	6828399	476	47	-90	0
MOAC360	394202	6828400	476	45	-90	0
MOAC361	394096	6828393	476	43	-90	0
MOAC362	394002	6828401	476	26	-90	0
MOAC363	394349	6828003	474	36	-90	0
MOAC364	394250	6828004	474	12	-90	0
MOAC365	394147	6828001	474	13	-90	0
MOAC366	394050	6828003	474	9	-90	0
MOAC367	393947	6828009	474	14	-90	0
MOAC368	394351	6827603	472	21	-90	0
MOAC369	394251	6827608	472	40	-90	0
MOAC370	394149	6827604	472	13	-90	0
MOAC371	394053	6827602	472	14	-90	0
MOAC372	397642	6825732	468	66	-60	250
MOAC373	397669	6825740	468	81	-60	250
MOAC374	397447	6833332	475	75	-60	250

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Appendix B – JORC CODE, 2012 Edition

Section 1 – Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature & quality of sampling (e.g.
techniques		cut channels, random chips, or	•	Aircore drilling was undertaken by Prospect Drilling
		specific specialised industry		Pty Ltd based out of Kalgoorlie, Western Australia.
		standard measurement tools	•	Drill spoils sampled consist of 2-3kg of material
		appropriate to the minerals under		representing in-situ rock collected at 1m intervals
		investigation, such as down hole		from surface.
		gamma sondes, or handheld XRF	•	Drilled 1m samples are discharged into collection
		instruments, etc.). These examples		buckets positioned below the cyclone and placed on
		should not be taken as limiting the		the ground in rows of 10 or 20.
		broad meaning of sampling.	•	Even, single samples were collected from the 1m
	•	Include reference to measures		piles as 4m composites using a scoop to obtain 2-3kg
		taken to ensure sample		of material representative of 4m of drilling.
		representivity & the appropriate	•	End of hole samples consisted of 1m composites of
		calibration of any measurement		fresh rock submitted for whole-rock, multi-element
		tools or systems used.		analysis.
	•	Aspects of the determination of	•	Sampling and analytical procedures are detailed in
		mineralisation that are Material to		the sub-sampling techniques and sample preparation
		the Public Report.		section.
	•	In cases where ‘industry standard’
		work has been done this would be
		relatively simple (e.g. ‘reverse
		circulation drilling was used to
		obtain 1 m samples from which 3
		kg was pulverised to produce a 30
		g charge for fire assay’). In other
		cases more explanation may be
		required, such as where there is
		coarse gold that has inherent
		sampling problems. Unusual
		commodities or mineralisation
		types (e.g. submarine nodules)
		may warrant disclosure of detailed
		information.
Drilling	•	Drill type (eg core, reverse
techniques		circulation, open-hole hammer,	•	Face sampling aircore drilling by Prospect Drilling
		rotary air blast, auger, Bangka,		achieved hole diameter size of 3 1/4 inch.
		sonic, etc.) & details (e.g. core	•	Drilling was completed via air core blade or
		diameter, triple or standard tube,		percussion hammer to penetrate hard rock when
		depth of diamond tails, face-		encountered in the upper part of the weathering
		sampling bit or other type,		profile.
		whether core is oriented & if so, by
		what method, etc.).If no site visits
		have been undertaken indicate
		why this is the case.
Drill sample	•	Method of recording & assessing
recovery		core & chip sample recoveries &	•	Sample recovery size and sample conditions (dry, wet,
		results assessed.		moist) were recorded in the field sample data booklet
	•	Measures taken to maximise		by visually assessing the sample piles.
		sample recovery & ensure	•	Drilling involved frequent reaming to clean the hole at
		representative nature of the		the start of each new rod, regular cleaning of the
		samples.

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	•	Whether a relationship exists		cyclone and use of high-pressure air was used to avoid
		between sample recovery & grade		wet samples.
		& whether sample bias may have
		occurred due to preferential
		loss/gain of fine/coarse material
Logging	•	Whether core & chip samples have
		been geologically & geotechnically	•	Logging was undertaken by inspecting washed
		logged to a level of detail to		cuttings from the drill piles using a 2mm hand-held
		support appropriate Mineral		sieve.
		Resource estimation, mining	•	Logging was undertaken by a suitably qualified
		studies & metallurgical studies.		Geologist using pre-determined logging codes to
	•	Whether logging is qualitative or		record depth, colour, regolith, rock type, alteration
		quantitative in nature. Core (or		and potential mineralisation such as sulphides and
		costean, channel, etc.)		quartz-veining.
		photography.	•	The logging technique was developed to accurately
	•	The total length & percentage of		reflect geology and mineralisation styles.
		the relevant intersections logged	•	1m end of hole fresh rock samples were collected in
				plastic chiptrays for future reference.
Sub-sampling	•	If core, whether cut or sawn &
techniques &		whether quarter, half or all core	•	4m composite samples comprising 4 even scoops of
sample		taken.		1m aircore samples were collected in pre-numbered
preparation	•	If non-core, whether riffled, tube		calico bags. Sample weights were 2 - 3 kg.
		sampled, rotary split, etc.&	•	4m composite samples were collected into numbered
		whether sampled wet or dry.		polyweave bags and dispatched to ALS Laboratories,
	•	For all sample types, the nature,		Kalgoorlie which is an accredited laboratory.
		quality & appropriateness of the	•	Samples were dried (nominal 110 degrees C), crushed
		sample preparation technique.		and pulverized to produce a homogenous
	•	Quality control procedures		representative sub-sample for analysis. All samples
		adopted for all sub-sampling		were pulverised utilising ALS preparation technique
		stages to maximise representivity		PUL-23. A grind quality target of 85% passing 75μm
		of samples.		has been established and is relative to sample size,
	•	Measures taken to ensure that the		type and hardness.
		sampling is representative of the in	•	End of hole one metre samples were taken to for
		situ material collected, including		multi-element, whole rock analysis to characterise
		for instance results for field		rock type.
		duplicate/second-half sampling.	•	The sample size and sample preparation prior to
	•	Whether sample sizes are		analysis are considered to be appropriate for the
		appropriate to the grain size of the		expected mineralisation.
		material being sampled.
Quality of	•	The nature, quality &	•	The bagged 4m composite samples were collected at
assay data &		appropriateness of the assaying &		ALS, Kalgoorlie and shipped to the ALS facility in Perth
laboratory		laboratory procedures used &		by courier.
tests		whether the technique is	•	Following the Sample Preparation outlined in the
	•	considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make &		previous section above, all samples were analysed by ALS using a combined package of trace level gold, 25g aqua regia [Au-TL43] and ICP [ME-ICP43] and MS [ME-MS43] multi-elements for 40 elements by ALS Laboratories in Perth.
		model, reading times, calibrations	•	1m bottom of hole samples were collected and
		factors applied & their derivation,		analysed using whole rock, 4 acid digest ME-MS61
		etc.		and Au ICP-21 by ALS laboratories.
	•	Nature of quality control	•	Gold intercepts were calculated with a 0.10g/t Au
		procedures adopted (e.g.		lower cut-off with no internal dilution and no top cut
		standards, blanks, duplicates,		applied.

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		external laboratory checks) &	•	In addition to the Quality Control measures and
		whether acceptable levels of		internal laboratory checks used by ALS, Si6 inserted
		accuracy (i.e. lack of bias) &		standards, duplicates and blanks at a rate of 1:20
		precision have been established.		samples in that order respectively. Standards were
				selected based on oxidation and grade relevant to the
				expected mineralisation. This process of QA/QC
				demonstrated acceptable levels of accuracy.
			•	A review of the assay data against the logged
				information by the field technician and geologist has
				been completed to verify intercepts are real.
			•	Sample, collar and lithology data was captured
				directly in the field using excel tables on a laptop
				computer. Captured data was then loaded into the
				Company’s database and validation checks
				completed to ensure data accuracy.
Verification of	•	The verification of significant	•	A review of the assay data against the logged
sampling &		intersections by either independent		information by the field technician and geologist was
assaying		or alternative company personnel.		completed to verify intercepts.
	•	The use of twinned holes.	•	Assay results were plotted on section to verify against
	•	Documentation of primary data,		neighbouring holes.
	•	data entry procedures, data verification, data storage (physical & electronic) protocols. Discuss any adjustment to assay data.	•	Sample data was captured in the field with date, hole ID, m from, m to, sample ID, check sample type and ID recorded in a hard copy sample book. The sample book is kept as a back-up.
			•	Sample data has been entered into the Company’s
				database with validation checks completed to ensure
				data accuracy.
			•	No twinned holes have been completed at this stage
			•	No adjustments have been made to the assay data.
Location of	•	Accuracy & quality of surveys used	•	Drill holes were surveyed by handheld GPS with
data points		to locate drill holes (collar & down-		horizontal accuracy (Easting and Northing values) of
		hole surveys), trenches, mine		+-3m.
		workings & other locations used in	•	Grid System – GDA94 Zone 51south.
		Mineral Resource estimation.
	•	Specification of the grid system
		used.
	•	Quality & adequacy of topographic
		control
Data spacing	•	Data spacing for reporting of	•	Holes were drilled on 100m to 200m spaced lines
& distribution		Exploration Results.		with collars 40m apart perpendicular to the
	•	Whether the data spacing &		interpreted orientation of expected mineralisation.
		distribution is sufficient to	•	No mineral classification is applied to the results at
		establish the degree of geological		this stage.
		& grade continuity appropriate for	•	Samples were collected on 4m and 1m intervals from
		the Mineral Resource & Ore		spoil piles.
		Reserve estimation
		procedure(s)&classifications
		applied.
	•	Whether sample compositing has
		been applied.
Orientation of	•	Whether the orientation of
data in		sampling achieves unbiased

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relation to		sampling of possible structures &	•	No bias has been introduced from the sampling
geological		the extent to which this is known,		technique.
structure		considering the deposit type.	•	Unbiased drilling has been designed to target shear-
	•	If the relationship between the		hosted orogenic and intrusion related gold
		drilling orientation & the		mineralisation in addition to nickel laterite.
		orientation of key mineralised	•	Data is insufficient to determine orientation of
		structures is considered to have		mineralised structures.
		introduced a sampling bias, this
		should be assessed & reported if
		material
Sample	•	The measures taken to ensure	•	Samples were securely stored in the field and
security		sample security the different		transported to the laboratory by an authorised
		materials.		company representative or an authorised transport
				contractor.
Audits or	•	The results of any audits or reviews
reviews		of sampling techniques & data.	•	No audits or reviews have been completed.

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Section 2 Reporting of Exploration Results

Criteria	JORC	Code explanation	Commentary	Commentary
Mineral	•	Type, reference	•	AC Drilling and sampling reported has been undertaken
tenement		name/number, location and		on tenements E39/1866 and P39/5457 which are
and land		ownership including		located approximately 40km northwest of Laverton, in
tenure		agreements or material issues		the Eastern Goldfields Region, Western Australia.
status		with third parties such as
		joint ventures, partnerships,	•	The tenements are held by Monument Mining Pty Ltd, a
		overriding royalties, native		wholly owned subsidiary of Si6 Metals Pty Ltd.
		title interests, historical sites,
		wilderness or national park
		and environmental settings.
	•	The security of the tenure
		held at the time of reporting
		along with any known
		impediments to obtaining a
		license to operate in the area.
Exploration	•	Acknowledgment and	•	The historic drilling collars, down-hole traces and
done by		appraisal of exploration by		intercepts published in the report are contained in the
other		other parties.		historical database compiled by previous tenement
parties				holder, DiscovEx Resources Pty Ltd which is a
				compilation of exploration activities undertaken by
				previous explorers.
Geology	•	Deposit type, geological	•	The deposit style being targeted is Archaean, intrusion
		setting and style of		related, shear-hosted gold deposits and Murrin Murrin
		mineralisation.		style nickel laterite. Gold mineralisation principally
				occurs in sheeted quartz stockwork veins derived from
				open space filling (brittle fracturing) of sheared
				metamorphic rocks altered by varying quantities of
				silica, pyrite, pyrrhotite, arsenopyrite, sphalerite, galena
				and chalcopyrite.
Drill hole	•	A summary of all information	•	Historic drill hole positions have been validated by
Information		material to the understanding		ground checking the location of the drill collars
		of the exploration results		recorded by Syndicated Metals (DiscovEx). No check
		including a tabulation of the		sampling has been undertaken on the historic drill spoils
		following information for all		and the information is not considered material.
		Material drill holes:
	•	easting and northing of the	•	Drill hole location, depth and directional information
		drill hole collar		collected by Si6 is included in the report.
	•	elevation or RL (Reduced
		Level – elevation above sea
		level in metres) of the drill
		hole collar
	•	dip and azimuth of the hole
	•	down hole length and

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		interception depth
	•	hole length.
	•	If the exclusion of this
		information is justified on the
		basis that the information is
		not Material and this
		exclusion does not detract
		from the understanding of the
		report, the Competent Person
		should clearly explain why
		this is the case.
Data	•	In reporting Exploration	•	Drill hole intercepts are reported using a 0.1g/t Au cut-
aggregation		Results, weighting averaging		off grade with no internal dilution.
methods		techniques, maximum and/or	•	Intercepts are reported as down-hole lengths using
		minimum grade truncations		length weighted averages.
		(e.g. cutting of high grades)
		and cut-off grades are usually Material and should be	•	No top-cut has been applied to the reported intercepts.
		stated.
	•	Where aggregate intercepts
		incorporate short lengths of
		high grade results and longer
		lengths of low grade results,
		the procedure used for such
		aggregation should be stated
		and some typical examples of
		such aggregations should be
		shown in detail.
	•	The assumptions used for any
		reporting of metal equivalent
		values should be clearly
		stated.
Relationship	•	These relationships are
between		particularly important in the	•	Refer “Orientation of data in relation to geological
mineralisa-		reporting of Exploration		structure” in Section 1.
tion widths		Results.
and	•	If the geometry of the	•	Geometry of mineralisation is not known at this stage.
intercept		mineralisation with respect to
lengths		the drill hole angle is known,	•	True width of mineralisation is not known at this stage.
		its nature should be reported.
	•	If it is not known and only the
		down hole lengths are
		reported, there should be a
		clear statement to this effect
		(e.g. ‘down hole length, true
		_width not known’). _

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ASX Announcement

Diagrams	•	Appropriate maps and	•	A location plan of each of the prospects showing the
		sections (with scales) and		drill collars is provided in the report.
		tabulations of intercepts
		should be included for any
		significant discovery being
		reported These should
		include, but not be limited to
		a plan view of drill hole collar
		locations and appropriate
		sectional views.
Balanced	•	Where comprehensive	•	The report is considered balanced with the information
reporting		reporting of all Exploration		provided.
		Results is not practicable,	•	The report shows drill collars for all holes completed.
		representative reporting of
		both low and high grades
		and/or widths should be
		practiced to avoid misleading
		reporting of Exploration
		Results.
Other	•	Other exploration data, if	•	No testwork has been undertaken in relation to
substantive		meaningful and material,		metallurgical and geotechnical studies.
exploration		should be reported including
data		(but not limited to):
		geological observations;
		geophysical survey results;
		geochemical survey results;
		bulk samples – size and
		method of treatment;
		metallurgical test results; bulk
		density, groundwater,
		geotechnical and rock
		characteristics; potential
		deleterious or contaminating
		substances.
Further	•	The nature and scale of	•	Based on the positive results, follow-up AC drilling is
work		planned further work (e.g.		planned for 2023. The program will also include priority
		tests for lateral extensions or		targets are Fred’s Well and North Well.
		depth extensions or large-
		scale step-out drilling).
	•	Diagrams clearly highlighting
		the areas of possible
		extensions, including the
		main geological
		interpretations and future
		drilling areas, provided this
		information is not
		commercially sensitive.

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ASX Announcement

Disclaimer

In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the above announcement. No exploration data or results are included in this document that have not previously been released publicly. The source of all data or results have been referenced.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Si6’s mineral properties, planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Competent Persons Statement (Monument Gold Project, Western Australia)

The information in this report that relates to Exploration Targets and Exploration Results is based on recent and historical exploration information compiled by Mr Michael Jackson, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Jackson is a consultant to Si6 Metals Limited. Mr Jackson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Jackson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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ASX Announcement

ASX CODE: Si6

This announcement has been approved for release by the Chairman of Si6 Metals Ltd, Mr David Sanders.

For further information please contact:

Victoria Humphries / Ben Creagh Investor Relations

M: +61 (0)431 151 676 / +61 (0) 417 464 233 victoria@nwrcommunications.com.au benc@nwrcommunications.com.au

DIRECTORS

David Sanders Non-Executive Chairman

Steve Groves Technical Director

Joshua Letcher Non-Executive Director

Mauro Piccini Company Secretary

CONTACT

Suite 11, Level 2 23 Railway Road Subiaco WA Australia 6008 +61 (0)8 6559 1792

info@si6metals.com si6metals.com

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