http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Thu, 14 Dec 2017 02:03:42 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Sipa Resources confirms vein-hosted gold, copper at Paterson North ]]> http://www.proactiveinvestors.com.au/companies/news/185470/sipa-resources-confirms-vein-hosted-gold-copper-at-paterson-north-185470.html Sipa Resources Limited (ASX:SRI) has received encouraging assays from the maiden diamond drilling program at the Obelisk copper-gold prospect, part of its Paterson North project in Western Australia.

The initial results from the drill holes indicate the presence of narrow widths of vein-hosted gold and copper mineralisation including:

- 0.15 metres at 22.5 g/t gold and 2% copper from 422.6 metres;
- 0.16 metres at 0.82 g/t gold and 0.49% copper from 311.8 metres; and
- 1.1 metres at 0.26g/t gold 0.62% copper from 334.8 metres.

Obelisk lies within the Great Sandy tenement where Sipa holds a 51% interest and is now earning up to 80% from Ming Gold Ltd by spending $3 million.

The drilling program was designed to test the potential bedrock mineralisation beneath an extensive shallow copper and polymetallic anomaly defined during previous aircore programs.

Sipa’s drilling comprised of four diamond holes for a total of 1,604 metres drilled over a 500-metre strike length of the system.

The results demonstrate the potential of the system to host both high-grade, high-value mineralisation and large-scale, lower grade bulk tonnage mineralisation.

Importantly, the Obelisk prospect extends well into the bedrock with a large, circa 1000 ppm copper footprint, with assay results from the drill holes indicating that it is still open at depth.

Sipa is now planning follow-up reverse circulation drilling in October to further understand the mineralisation of this highly prospective system.

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Thu, 12 Oct 2017 14:22:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185470/sipa-resources-confirms-vein-hosted-gold-copper-at-paterson-north-185470.html
<![CDATA[News - Sipa Resources shares rise on progress at Paterson North project ]]> http://www.proactiveinvestors.com.au/companies/news/179448/sipa-resources-shares-rise-on-progress-at-paterson-north-project-179448.html Sipa Resources (ASX:SRI) has embarked on a new exploration program at its Paterson North Copper-Gold Project in Western Australia following a successful reconnaissance drilling program.

The company’s shares closed 18% higher on Monday, at $0.013.

Sipa’s recent 3,244-metre program included 15 holes drilled over the 4-kilometre long Obelisk copper-gold anomaly, with most holes ending in copper mineralisation in fresh bedrock.

The results include 102 metres at 0.09% copper, 0.33 ppm silver, 6 ppm molybdenum and 263 ppm tungsten.

Importantly, the drilling has defined a priority 800 by 200 metre copper zone at Obelisk which is also coincident with a strong gravity and magnetic anomaly.

The presence of strongly anomalous bedrock copper mineralisation is considered to be a significant development, indicating the presence of a large polymetallic intrusive-related mineral system.

The Paterson Province is a strongly endowed and highly prospective mineral belt for gold and copper including the 25+ million ounce Telfer gold and copper deposits.

Sipa is earning up to an 80% interest in Ming Gold’s Paterson North project by spending $3 million on exploration over 4 years.

It is a pivotal period ahead for Sipa with geophysical surveys in progress and a 1,500-metre diamond drill program set to commence in mid-July.

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Mon, 19 Jun 2017 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179448/sipa-resources-shares-rise-on-progress-at-paterson-north-project-179448.html
<![CDATA[News - Sipa Resources kicks off new year with nickel, copper, gold exploration ]]> http://www.proactiveinvestors.com.au/companies/news/172254/sipa-resources-kicks-off-new-year-with-nickel-copper-gold-exploration-172254.html The company has a comprehensive plan in place to advance both its Ugandan and Australian projects to the next level.

At the Akelikongo project in Uganda, a down-hole electro-magnetic survey is underway to test up to 10 diamond drill holes completed last year

Together with a ground magnetic program, these geophysical surveys will help to define the extent of conductive massive sulphides intersected in drilling and also detect new off-hole conductors.

Infill soil sampling programs have also commenced to complete full coverage of the Akelikongo gravity anomaly to potentially identify additional sulphide positions.

This new phase of work will facilitate follow-up drilling scheduled for Q2 2017 to further define and extend the massive and disseminated nickel - copper sulphide drill intersections returned in 2016.

Sipa is also planning heritage surveys in March prior to re-commencing drilling in April 2017 at the Paterson North Copper-Gold Project in Western Australia.

The company is earning up to an 80% interest in Ming Gold’s Paterson North project by spending $3 million on exploration over 4 years.

A collaborative study between Sipa and the CSIRO Discovery Research Team is already underway for the project using state-of-the-art mineral analysis techniques.

Sipa is well-funded for its upcoming activities with $4.1 million in cash at the end of the December 2016 quarter.

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Fri, 27 Jan 2017 07:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172254/sipa-resources-kicks-off-new-year-with-nickel-copper-gold-exploration-172254.html
<![CDATA[News - Sipa Resources Ltd to raise $4.2M for Western Australia copper-gold project ]]> http://www.proactiveinvestors.com.au/companies/news/165567/sipa-resources-ltd-to-raise-42m-for-western-australia-copper-gold-project-70575.html Sipa Resources Ltd (ASX:SRI) will issue shares worth $4.2 million at $0.02 each to investors, following its heavily oversubscribed share purchase plan.

This will allow the company to ramp-up exploration activities at the Great Sandy Copper-Gold Project in the Paterson Province of Western Australia.

In light of total applications of $5.34 million, Sipa elected to accept oversubscriptions over the original target of $2.0 million to $4.2 million.

The new share placement will increase Sipa’s cash reserves to circa $5.7 million.

In June, Sipa executed a farm-in agreement with Ming Gold, allowing Sipa to earn up to 80% in the Great Sandy project by expending $3 million over four years.

The project adjoins Antipa Minerals Ltd’s (ASX:AZY) Citadel Project to the South, where Rio Tinto Exploration is spending up to $60 million to earn a 75% interest.

The host geology within Sipa’s Great Sandy Project is interpreted to be the similar to that which hosts the mineralization discovered by Antipa.

Sipa is currently drilling an an extensive copper-gold anomaly, known as the Obelisk prospect, which is located north of Antipa’s Citadel project.

The program is well underway and is expected to be completed by early September with first results expected later in the month.

Sipa is also planning to commence drilling at an emerging nickel-copper discovery at Akelikongo in Uganda.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 22 Aug 2016 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165567/sipa-resources-ltd-to-raise-42m-for-western-australia-copper-gold-project-70575.html
<![CDATA[News - Sipa Resources Ltd to reveal details on capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/162221/sipa-resources-ltd-to-reveal-details-on-capital-raising-69858.html Sipa Resources Ltd (ASX:SRI) has been granted a trading halt by the ASX today, pending details on a placement and share purchase plan.

The halt will remain in place until the opening of trade on Wednesday 20th July 2016, or earlier if an announcement is made to the market.

Sipa has recently completed a drilling program at the Akelikongo nickel-copper prospect in Northern Uganda.

The company also completed a Farm-in and Joint Venture Agreement with Ming Gold Limited for copper-gold exploration at the Paterson Province in Western Australia.

Drilling at the Great Sandy Gold-Copper Project in the Paterson Province will commence in a couple of weeks.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 18 Jul 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162221/sipa-resources-ltd-to-reveal-details-on-capital-raising-69858.html
<![CDATA[News - Sipa Resources Ltd gears up to drill for copper-gold in Paterson Province ]]> http://www.proactiveinvestors.com.au/companies/news/162220/sipa-resources-ltd-gears-up-to-drill-for-copper-gold-in-paterson-province-69842.html Sipa Resources Ltd (ASX:SRI) is on track to commence its maiden drill program in early August at the Great Sandy Copper-Gold Project in the Paterson Province of Western Australia.

The project adjoins Antipa Minerals Ltd’s (ASX:AZY) Citadel Project to the South, where Rio Tinto Exploration is spending up to $60 million to earn a 75% interest.

Last month, Sipa executed a farm-in agreement with Ming Gold, allowing Sipa to earn up to 80% in the Great Sandy project by expending $3 million over four years.

The Paterson Province is considered to be one of the most exciting emerging frontiers for exploration in Australia, containing a number of significant discoveries.

The host geology within Sipa’s Great Sandy Project is interpreted to be the similar to that which hosts the mineralization discovered by Antipa.

The drilling will test a newly discovered extensive primary copper-gold anomaly, known as the Obelisk prospect, which is located north of Antipa’s Citadel project.

Sipa has wasted no time in getting on the ground to commence heritage surveys, which are now well advanced, and is expected to start drilling in the first week of August.

The company has recently been successful in securing a West Australian Government Exploration Incentive Scheme (EIS) grant up to $150,000 to co-fund the drilling program.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 15 Jul 2016 17:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162220/sipa-resources-ltd-gears-up-to-drill-for-copper-gold-in-paterson-province-69842.html
<![CDATA[News - Sipa Resources Ltd unearths nickel, copper potential at Uganda project ]]> http://www.proactiveinvestors.com.au/companies/news/162219/sipa-resources-ltd-unearths-nickel-copper-potential-at-uganda-project-68746.html Sipa Resources Ltd (ASX:SRI) has completed a drilling program at the Akelikongo prospect in the Kitgum Pader base metal project in northern Uganda, intersecting significantly enriched nickel and copper sulphides.

The drilling has defined a wide 30 metres to over 100 metres zone of disseminated sulphides ranging 0.2% to 0.5% nickel and 0.1% to 0.2% copper.

The sulphide grain size and abundance generally increases down hole towards the basal footwall mineralised zone.

Further drilling at Akelikongo will be planned after the current batch of assay results are returned.

Additionally, another drill program is underway targeting the Broken Hill-style lead-zinc-silver mineralisation at the Pamwa prospect within the Kitgum Pader base metal project.

Since Sipa started exploration at Kitgum Pader, it has collected over 60,000 geochemical soil samples leading to the discovery of numerous sulphide-derived base and precious metal prospects.

In addition to the Ugandan project, preparations are underway to commence exploration at Sipa’s newly acquired Paterson North copper-gold project in Western Australia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162219/sipa-resources-ltd-unearths-nickel-copper-potential-at-uganda-project-68746.html
<![CDATA[News - Sipa Resources has thick nickel copper sulphide mineralised system ]]> http://www.proactiveinvestors.com.au/companies/news/162218/sipa-resources-has-thick-nickel-copper-sulphide-mineralised-system-64247.html Sipa Resources’ (ASX:SRI) drilling has confirmed that a very continuous mineralised intrusive complex runs along the western gravity margin for at least 500 metres at its Akelikongo Project in Uganda.

This contains nickel copper sulphides from 0.25% to 0.45% with high grade zones of up to 1.86% nickel and remains open in all direction.

The last hole returned a thick 115 metre intersection averaging 0.31% nickel and 0.09% copper from 116 metres that included:

- 34 metres at 0.30% nickel and 0.08% copper from 116 metres;
- 40 metres at 0.25% nickel and 0.07% copper from 155 metres; and
- 1 metre at 1.86% nickel and 0.11% copper from 214 metres.

All results have now been received with modelling work being undertaken to understand the 3D geometry and architecture of the system.

Follow up diamond drilling is planned to commence in early September at both Akelikongo West and at Akelikongo with more rotary air blast drilling planned late in the year.

Environmental approvals are also underway for drilling at the Mt Goma nickel in soil anomaly is now planned later in the fourth quarter of the year.

Sipa remains well funded with $6.2 million in cash as at 30th June 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 28 Aug 2015 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162218/sipa-resources-has-thick-nickel-copper-sulphide-mineralised-system-64247.html
<![CDATA[News - Sipa Resources granted trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/162217/sipa-resources-granted-trading-halt-62129.html Sipa Resources (ASX:SRI) is currently finalising a placement and share purchase plan.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

Sipa shares have more than doubled in the past three months, and closed at $0.083 before the halt.

The halt will remain in place until the earlier of trade opening on Wednesday 6th May 2015, or when an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 05 May 2015 07:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162217/sipa-resources-granted-trading-halt-62129.html
<![CDATA[News - Sipa Resources extends nickel-copper mineralisation at Uganda project ]]> http://www.proactiveinvestors.com.au/companies/news/162216/sipa-resources-extends-nickel-copper-mineralisation-at-uganda-project-60962.html Sipa Resources (ASX:SRI) has intersected further nickel-copper massive sulphides at the Akelikongo target of its Kitgum-Pader Project in Uganda.

The mineralisation, which is mostly disseminated within an ultramafic pyroxenite, extends from surface to more than 80 metres below surface and is open in all directions.

From 94.3 metres to 97.5 metres, a 3.2 metres wide breccia zone contains intersections of massive and semi-massive sulphide.

These results continue to infer that a significant deposit of disseminated and massive sulphide is developing at Akelikongo.

The initial program at Akelikongo is now complete and the drill rig will now commence testing the Pamwa zinc-lead zone identified in soils and shallow drilling.

Sipa’s Kitgum-Pader Base metals & Gold Project comprises 16 exploration licences, covering 6,490 square kilometres in central northern Uganda, East Africa.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 27 Feb 2015 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162216/sipa-resources-extends-nickel-copper-mineralisation-at-uganda-project-60962.html
<![CDATA[News - Sipa Resources finds potential to extend zinc, lead and silver zone in Uganda ]]> http://www.proactiveinvestors.com.au/companies/news/162215/sipa-resources-finds-potential-to-extend-zinc-lead-and-silver-zone-in-uganda-60075.html Sipa Resources (ASX:SRI) has defined a zone of strong chargeability and coincident high resistivity spatially related to Pamwa zinc, lead and silver mineralised zone at its Kitgum-Pader Project in Uganda.

This indicates that the system intersected by shallow drilling in July 2014 has substantial depth and strike potential which has not been tested by the existing drilling.

Assays received in August included a peak result of 5 metres at 2% zinc, 0.2% lead, 2.4ppm silver and 97ppm cadmium.

Diamond drill of about 1,500 metres to test the Pamwa zinc, lead, silver mineralised system and Akelikongo nickel sulphide mineralised system will commence in late January.

Infill soil sampling is continuing to define further drilling targets for first pass rotary air blast drilling, also planned for early 2015.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 14 Jan 2015 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162215/sipa-resources-finds-potential-to-extend-zinc-lead-and-silver-zone-in-uganda-60075.html
<![CDATA[News - Sipa Resources starts diamond drilling at WA copper project ]]> http://www.proactiveinvestors.com.au/companies/news/162214/sipa-resources-starts-diamond-drilling-at-wa-copper-project-55885.html Sipa Resources (ASX:SRI) has started diamond drilling to test the first of four primary targets in the Enigma Prospect of its Thaduna Copper Project in Western Australia.

The rig has commenced an initial hole designed to test whether the mineralisation intersected in holes THD12 (63 metres at 1.1% copper) and THD13 (29 metres at 1.1% copper) lies over a steeply dipping primary feeder zone.

Aircore and reverse circulation drilling carried oout during 2011 through to 2013 had defined a an essentially horizontal secondary copper carbonate mineralised horizon at around 80 to 100 metres below ground surface.

The zone is known to extend in a northeast direction in an area of some 5 kilometres by 2 kilometres.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 26 Jun 2014 17:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162214/sipa-resources-starts-diamond-drilling-at-wa-copper-project-55885.html
<![CDATA[News - Sipa Resources to divulge drilling results ]]> http://www.proactiveinvestors.com.au/companies/news/162213/sipa-resources-to-divulge-drilling-results-55683.html Sipa Resources (ASX:SRI) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Sipa requested the halt pending drilling results at the Kitgum-Pader base metals and gold project.

The project is owned 80% by Sipa and 20% by Geocrust Pty Ltd, and is located in Uganda.

The halt will remain in place until the opening of trade on Friday 20th June 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 18 Jun 2014 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162213/sipa-resources-to-divulge-drilling-results-55683.html
<![CDATA[News - Sipa Resources identifies base and precious metal prospects in Uganda project ]]> http://www.proactiveinvestors.com.au/companies/news/162212/sipa-resources-identifies-base-and-precious-metal-prospects-in-uganda-project-53101.html Sipa Resources’(ASX: SRI) field exploration at its Kitgum-Pader project in Uganda has identified rocks similar to those hosting the giant Broken Hill lead-zinc-silver deposit in New South Wales.

This has in turn led to the discovery of the Pamwa and Ayuu Alali Prospects that are interpreted as being derived from base metal sulphides.

The company has also found two nickel-copper-platinum group element prospects in different geological settings as well as a 2.5 kilometre long gold-arsenic-bismuth anomaly.

Sipa has taken more than 30,000 geochemical samples since starting systematic field exploration in early 2013.

This has covered just 35% of the 6,358 square kilometre project.

Sipa has a 80% interest in the Kitgum-Pader base and precious metals project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 24 Feb 2014 11:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162212/sipa-resources-identifies-base-and-precious-metal-prospects-in-uganda-project-53101.html
<![CDATA[News - Sipa Resources outlines nickel, copper and platinum group metals anomaly in Uganda ]]> http://www.proactiveinvestors.com.au/companies/news/162211/sipa-resources-outlines-nickel-copper-and-platinum-group-metals-anomaly-in-uganda-52303.html Sipa Resources (ASX: SRI) has outlined a nickel, copper and platinum group metals anomaly – Akelikongo – from infill soil sampling at its Kitgum-Pader Base and Precious Metals Project in Uganda.

Akelikongo is about 1,000 metres by 400 metres and contains maximum coincident of 3,200ppm nickel and 879ppm copper with limited outcrop.

Importantly, the nickel and copper has up to 31.5ppb platinum and palladium associated.

Based on its geological and geophysical setting and the petrology of associated similar rocks within the Kitgum-Pader Project, Akelikongo is interpreted as related to an intrusive mafic – ultramafic body and provides a compelling drill target.

In addition to Akelikongo, the southwestern portion of the northern area sampled earlier in 2013 is a much more extensive mafic-ultramafic terrain that has six discrete nickel-copper anomalies that have been infill sampled and another six that will be infill sampled as part of a continuing geological mapping and infill soil sampling program.

Sipa has a 80% interest in the Kitgum-Pader Base and Precious Metals Project.

It covers 5,350 square kilometres in eight exploration licences and five exploration licence applications.

Sampling is targeted at identifying at least a dozen drill targets for early 2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 Jan 2014 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162211/sipa-resources-outlines-nickel-copper-and-platinum-group-metals-anomaly-in-uganda-52303.html
<![CDATA[News - Sipa Resources' audio magnetic survey enhances Enigma copper prospect in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/162210/sipa-resources-audio-magnetic-survey-enhances-enigma-copper-prospect-in-western-australia-51898.html Sipa Resources (ASX:SRI) has highlighted possible structural controls of the copper mineralisation at the Engima prospect of its Thaduna Copper Project in Western Australia.

This follows preliminary processing of data from the recent Audio Magneto Telluric geophysical surveying.

The controls are that are critical for drill targeting beneath the secondary blanket at Enigma, which hosts a large copper geochemical anomaly known as the Enigma Secondary Copper Blanket.

Prior drill intersections at the Blanket include 34 metres at 2.8% copper, with 11 metres at 7.6% copper, and a number of chalcopyrite-bearing intersections up to 63 metres at 1.1% copper.

Results have also clarified the ‘3d architecture’ of the broader sedimentary basin, valuable for refining exploration within the larger Thaduna Project.

The Sedimentary Basin hosting Thaduna is prospective for sediment-hosted copper deposits similar to Central African Copperbelt, Mt Isa, and Nifty.

Sipa is now combining and interpreting the data to create a robust geological model optimised for drilling success.

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Wed, 15 Jan 2014 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162210/sipa-resources-audio-magnetic-survey-enhances-enigma-copper-prospect-in-western-australia-51898.html
<![CDATA[News - Sipa Resources finding a way to solve Enigma with large copper intersection ]]> http://www.proactiveinvestors.com.au/companies/news/162209/sipa-resources-finding-a-way-to-solve-enigma-with-large-copper-intersection-47417.html Perth based Sipa Resources' (ASX:SRI) shares should open higher this morning with laboratory results from sulphide intersection of 63 metres grading 1.1% copper from just 90 metres which was upgraded from earlier XRF results.

Key to the exploration is this is the first thick intersection containing primary copper sulphides from Enigma.

Sipa is attempting to better define a copper blanket within the very large Enigma Copper Anomaly – which is some five kilometres long, by up to two kilometres wide.

The earlier on-site XRF copper analyses of intersection was released to the ASX on 8 August was 54 metres grading 0.9% copper, from 96 metres.

Clearly, there needs to be further drilling and other work done to understand Enigma, which could just be a number of large copper and base metal deposits at Engima. Very promising.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

 

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Mon, 02 Sep 2013 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162209/sipa-resources-finding-a-way-to-solve-enigma-with-large-copper-intersection-47417.html
<![CDATA[News - Sipa Resources intersects massive 34m grading 2.8% copper at Enigma Prospect in WA ]]> http://www.proactiveinvestors.com.au/companies/news/162208/sipa-resources-intersects-massive-34m-grading-28-copper-at-enigma-prospect-in-wa-47109.html Sipa Resources’ (ASX: SRI) aircore drilling has returned an impressive 34 metre at 2.8% copper intersection at the Enigma Copper Prospect of its Thaduna Copper Project in Western Australia’s Gascoyne Region.

The company had drilled 14 aircore holes in early August to follow-up on an earlier hole that returned 34 metres at 2.1% copper.

Besides the thick zone, which included 11 metres at 7.6% copper, other notable results include:

-    19 metres at 1.5% copper from 66 metres including 7 metres at 1.1% copper;
-    60 metres at 0.6% copper from 22 metres including 4 metres at 2.3% copper from 78 metres; and
-    36 metres at 0.8% copper from 75 metres including 8 metres at 2.6% copper from 98 metres.

The mineralisation intersected is dominantly the secondary copper carbonate malachite, and is within the very extensive Enigma Secondary Copper Blanket.

Enigma is at least 5 kilometres long, by up to 2 kilometres wide – and dominantly a secondary copper ‘blanket’ hosted by PaleoProterozoic sandstone and dolomite of the Yerrida Sedimentary Basin.

With the impressive copper intersections, shares in the company are likely to be bouyant today.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 23 Aug 2013 15:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162208/sipa-resources-intersects-massive-34m-grading-28-copper-at-enigma-prospect-in-wa-47109.html
<![CDATA[News - Sipa Resources targets primary sulphide source at Enigma in WA ]]> http://www.proactiveinvestors.com.au/companies/news/162207/sipa-resources-targets-primary-sulphide-source-at-enigma-in-wa-46783.html Sipa Resources (ASX: SRI) will follow-up THD012's 58 metres at 0.9% copper from 96 metres (XRF) with a new diamond drillhole at the Enigma Copper Prospect.

The intersection is the most significant and thickest sulphide intersection to date at Enigma. THD013 is targeting the intersection from the reverse circulation pre-collar of THD012.

The new hole is ‘scissoring’ the intersection as Sipa remains focused on finding the primary sulphide source of the secondary mineralisation.

THD012 was terminated at 607 metres after intersecting 170 metres of ‘alteration zone’ in dolomite from 435 metres.

Enigma is at least 5 kilometres long, by up to 2 kilometres wide – and dominantly a secondary copper ‘blanket’ hosted by PaleoProterozoic sandstone and dolomite of the Yerrida Sedimentary Basin.

The prospect is located at the wholly-owned Thaduna Copper Project in the Gascoyne Region of Western Australia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

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Thu, 15 Aug 2013 15:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162207/sipa-resources-targets-primary-sulphide-source-at-enigma-in-wa-46783.html
<![CDATA[News - Sipa Resources logs more thick copper intersections from drilling at Thaduna ]]> http://www.proactiveinvestors.com.au/companies/news/162206/sipa-resources-logs-more-thick-copper-intersections-from-drilling-at-thaduna-44673.html West Perth based Sipa Resources (ASX:SRI) has logged its thickest copper intersection to date at the Thaduna copper project in Western Australia.

A 34 metres intersection at 2.1% copper at Enigma prospect was seen from laboratory results from a recent air core drill program.

It was not alone as there were four other holes with results greater than 10 metres of copper, bringing to 26 the number of holes at Enigma with more than 10 metres of copper in five distinct areas.

There is a large footprint of more than 4.5 kilometre by 1.5 kilometre mineralised area.

Other notable intersections from this round included 23 metres at 1.0% copper, including 3 metres at 4.3% copper and 10 metres at 1.4% copper.

Planning for restarting the drilling programme which will comprise more detailed aircore, and deeper diamond drilling.

Analytical results for 24 aircore holes are pending.

Overall, Thaduna is a large (nearly 1,000 square kilometres) property with little outcrop. Part of Sipa's ground selection process was the presence of old copper mines.

Thaduna is located 25 kilometres east of Sandfire Resources (ASX:SFR) high grade DeGrussa copper gold discovery.


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Thu, 20 Jun 2013 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162206/sipa-resources-logs-more-thick-copper-intersections-from-drilling-at-thaduna-44673.html
<![CDATA[News - Sipa Resources edges closer to primary copper source at Enigma in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/162205/sipa-resources-edges-closer-to-primary-copper-source-at-enigma-in-western-australia-43807.html Sipa Resources (ASX: SRI) has completed 148 aircore holes for 13,711 metres and 12 reverse circulation holes for 2,519 metres at the Enigma copper prospect through to May 2013, which is located within the company's wholly-owned Thaduna Copper Project in Western Australia.

Sipa outlined that both programs are considered to have produced encouraging results, with the company of the belief that they are closer to discovering the primary source, or sources, of the copper in the Enigma Secondary Copper Blanket.

The aircore drilling concentrated on achieving 50 metre by 50 metre coverage in a southwestern area within the closure of the Enigma Fold.

Some of the best assay results to date from the drilling campaign include: 45 metres at 0.7% copper, including 6 metres at 2.8% copper; 16 metres at 1.1% copper, including 6 metres at 2.2% copper; and 19 metres at 0.8% copper, including 2 metres at 4.2% copper.

These results define a new mineralisation trend of about 350 metres in length and open at both ends. Sipa will now take a short break from drilling at the Enigma Prospect until laboratory results have been received.

The company had around $4 million in cash at the end of the March quarter 2013.

 

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Tue, 28 May 2013 15:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162205/sipa-resources-edges-closer-to-primary-copper-source-at-enigma-in-western-australia-43807.html
<![CDATA[News - Sipa Resources funded to advance Thaduna copper drilling program ]]> http://www.proactiveinvestors.com.au/companies/news/162204/sipa-resources-funded-to-advance-thaduna-copper-drilling-program-41627.html Sipa Resources (ASX: SRI) has now completed the share placement announced last month, raising a slightly increased amount of $1.98 million.

The placement comprised around 26.4 million shares at $0.15, with the funds to be allocated to exploration at the company's wholly-owned Thaduna copper project in the Gascoyne Region of Western Australia.

Sipa recently committed to drilling at least 25,000 metres of RAB/Aircore and up to 10,000 metres of reverse circulation and 2,500 metres of diamond core. The actual mix of the different types of drilling will depend on results and progress.

The program is budgeted at around $3 million and will take in the order of 4 to 6 months to complete.

The initial aircore drilling will focus better defining structures that appear to control highly significant copper intersections obtained late last year such as 9 metres at 4% copper and 39 metres at 0.7% copper.


Share Purchase Plan

In addition to the placement, Sipa has completed the documentation to proceed with the Share Purchase Plan, which was initially announced at the same time as the placement on 25 March 2013.

The plan will also be offered at $0.075 share, allowing shareholders to purchase up to $15,000 worth of fully paid ordinary shares, which may result in the issue of a maximum of 136.5 million new shares which would raise a maximum of $10.2 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 05 Apr 2013 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162204/sipa-resources-funded-to-advance-thaduna-copper-drilling-program-41627.html
<![CDATA[News - Sipa Resources raises $1.8M to fund Thaduna copper project ]]> http://www.proactiveinvestors.com.au/companies/news/162203/sipa-resources-raises-18m-to-fund-thaduna-copper-project-41218.html Sipa Resources (ASX:SRI) has raised over $1.86 million via a private placement of up to 24,923,334 shares at 7.5 cents per share.

The placement was done to sophisticated investors, most of whom were existing shareholders. In addition, the shares subscribed will also have one-half unlisted option with an exercise price of $0.15 per option, with an expiry of 2 years from issue.

The company will follow up with a share purchase plan, which will also be offered at 7.5 cents per share and will have a record date of 22 March
2013.
 
It will be uncapped to the maximum amount under the law.

The proceeds will be used to fund an aggressive drilling program at Sipa's 100% owned Thaduna copper project, which is set to commence shortly.

Earlier in the month Sipa announced an updated Exploration Target for the wholly-owned Enigma Copper Prospect, which is within the Thaduna Copper Project in the Gascoyne Region, Western Australia.

Cube Consulting of Perth estimated that the contained copper metal at Enigma is in the region of 84,000 to 210,000 tonnes, within 42 to 69 million tonnes of mineralisation at between 0.2% and 0.3% copper at a 0.1% copper cut-off.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 25 Mar 2013 17:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162203/sipa-resources-raises-18m-to-fund-thaduna-copper-project-41218.html
<![CDATA[News - Sipa Resources to place shares to sophisticated investors ]]> http://www.proactiveinvestors.com.au/companies/news/162202/sipa-resources-to-place-shares-to-sophisticated-investors-41064.html Sipa Resources (ASX: SRI) is currently finalising a placement to sophisticated investors, with the ASX this morning granting the company a trading halt, and placing its shares in pre-open.

Earlier in the month Sipa announced an updated Exploration Target for the wholly-owned Enigma Copper Prospect, which is within the Thaduna Copper Project in the Gascoyne Region, Western Australia.

Cube Consulting of Perth estimated that the contained copper metal at Enigma is in the region of 84,000 to 210,000 tonnes, within 42 to 69 million tonnes of mineralisation at between 0.2% and 0.3% copper at a 0.1% copper cut‐off.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 25th March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 21 Mar 2013 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162202/sipa-resources-to-place-shares-to-sophisticated-investors-41064.html
<![CDATA[News - Sipa Resources farms out Ilgarari Copper Project to Antofagasta ]]> http://www.proactiveinvestors.com.au/companies/news/162201/sipa-resources-farms-out-ilgarari-copper-project-to-antofagasta-40463.html Sipa Resources’ (ASX: SRI) wholly-owned Ilgarari Copper Project in the Gascoyne Region of Western Australia as a Designated Property of its alliance with Antofagasta Minerals.

Antofagasta may earn a 51% interest in Ilgarari by spending $1 million in the first year and increase this to 70% by spending an additional $4 million by 13 February 2017.

A program of 25,000 metres of rotary airblast and aircore drilling is proposed to start in March this year to further test and extend previous encouraging results, and to continue testing fertile structures and alteration zones.

Ilgarari is primarily a copper exploration project in Mesoproterozoic sedimentary and intrusive rocks of the Collier Basin, which is part of the Capricorn Orogen.

Sipa has spent about $.16 million since 2007 acquiring detailed magnetic/radiometric data, carrying out geological mapping and prospecting as well as surface and rotary air blast/aircore geochemical sampling.

A number of mineral alteration zones and ‘fertile’ fault zones have been identified and are considered prospective for large copper (and possibly other metals) deposits.

 

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Thu, 07 Mar 2013 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162201/sipa-resources-farms-out-ilgarari-copper-project-to-antofagasta-40463.html
<![CDATA[News - Sipa Resources discovers 9m at 4% copper at Thaduna ]]> http://www.proactiveinvestors.com.au/companies/news/162200/sipa-resources-discovers-9m-at-4-copper-at-thaduna-37112.html Sipa Resources (ASX: SRI) has made two strong copper intersections that support the belief that potentially economic bodies of secondary copper mineralisation exists at its Enigma Prospect within the Thaduna copper project, located in Western Australia.

It also supports the interpretation of the gossan intersections as representing oxidised semi-massive to massive sulphide mineralisation.

The intersections from recent reverse circulation drilling on Sections A – A’ and B – B’ returned assays of 9 metres at 4% from 101 metres and 6 metres at 1.5% copper from 81 metres.

These represent the first laboratory chemical analyses received from the first five holes at the program, which is currently up to 15 holes.

One of the holes also returned 66 metres of black powder with no rock chip that XRF analysis showed contained more than 0.1% copper.

This is presently interpreted as completely leached and decomposed Upper Gossan Zone.

The geology of Section B – B’ is now interpreted as a relatively shallow south dipping zone of mineralisation, with a thicker underlying zone that was not reached by recent holes.

Although copper values are more subdued in the lower zone, than in the upper zone, multi-element geochemistry and rock textures demonstrate that this thick zone is well worth testing in fresh rock as it also very likely represents weathered massive to semi-massive sulphide.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 10 Dec 2012 15:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162200/sipa-resources-discovers-9m-at-4-copper-at-thaduna-37112.html
<![CDATA[News - Sipa Resources makes ‘breakthrough’ copper discovery at Enigma ]]> http://www.proactiveinvestors.com.au/companies/news/162199/sipa-resources-makes-breakthrough-copper-discovery-at-enigma--36384.html Sipa Resources (ASX: SRI) has encountered 100 metre thick drill intersections of copper-bearing gossans at its Enigma Prospect at its Thaduna Copper Project in Western Australia.

The Enigma Prospect is located less than 50 kilometres from Sandfire Resources’ (ASX: SFR) massive Degrussa Copper-Gold Mine.

On one drill line, two reverse circulation holes intersected up to 100 metres thickness of iron and silica-rich gossan representing oxidised semi-massive to massive sulphides – at least in part, copper-bearing.

Two more reverse circulation holes on another drill line intersected two iron-rich gossan zones, one about 100 metres thick and the other about 50 metres thick, again representing oxidised semi-massive to massive sulphides – also, at least in part, copper-bearing.

While ground conditions will not allow deeper reverse circulation testing of the gossans, a diamond drill is scheduled to begin diamond core tails later this week targeting the sulphide zone.

To date, 10 holes for 1,976 metres have been completed at the Enigma Prospect.

Earlier aircore drilling was designed to assess the possibility of defining one, or more, potentially economic resources within the very extensive Enigma Secondary Copper Blanket.

It was also aimed at discovering ‘vectors’ to the primary sulphide source of the secondary copper, which Sipa believes it is now discovering.

Having made what is considered to be a breakthrough, by discovering these vectors to the primary copper source, Sipa replaced the aircore rig with a reverse circulation rig and has since been successfully “chasing” several of these gossans deeper towards the sulphide zone.

The aircore drilling is also considered to have increased the likelihood of discovering potentially economic bodies of secondary mineralisation, though significantly more drilling is still required.


East African exploration

In other positive news for Sipa, the company has been granted six exploration licences covering 2,200 square kilometres in Uganda, representing new exploration frontier.

The granting of the tenements presents the company with a first mover opportunity in the country, as Uganda has not yet received the relatively intense exploration, and subsequent mining, attention that neighbouring Tanzania and the Democratic Republic of Congo have attracted.

Importantly, Uganda shares much of the same geological prospectivity as its neighbouring countries.

This exploration initiative stems from a carefully considered approach consistent with Sipa’s 25-year long greenfields exploration efforts, which successfully outlined two new mineral provinces in Western Australia in the 1990s – the Panorama VHMS copper-zinc and the Ashburton gold provinces.

The new ground in north central Uganda, which is primarily prospective for very large base metal deposits, was selected after focused field reconnaissance and data compilation and interpretation.

The six licences cover around 125 kilometres of strike of rocks considered prospective for, primarily, very large base metal deposits.

Sipa is targeting the start of exploration in early 2013, having determined the most effective geochemical/geological approach to fast track potential discovery.

Sipa’s Ugandan effort is being conducted through a joint venture, with Sipa owning 80% and the remaining 20% owned by Geocrust Pty Ltd.

The company remains well-funded to advance exploration across its project with around A$6.5 million cash at bank at the end of September.


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Mon, 26 Nov 2012 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162199/sipa-resources-makes-breakthrough-copper-discovery-at-enigma--36384.html
<![CDATA[News - Sipa Resources IP survey highlights semi-massive sulphide potential at Thaduna Copper Project ]]> http://www.proactiveinvestors.com.au/companies/news/162198/sipa-resources-ip-survey-highlights-semi-massive-sulphide-potential-at-thaduna-copper-project-29374.html Sipa Resources (ASX: SRI) has identified induced polarisation (IP) anomalies which have been interpreted to represent large bodies of semi-massive sulphides at the Enigma Copper Prospect.

A ground Electromagnetic survey is scheduled to begin in late June, and will be followed by a drill program to test the anomalies.

The Enigma prospect is part of Sipa’s 100%-owned Thaduna Copper Project, located in Western Australia’s Gascoyne Region.

Results from a Pole-Dipole IP survey at Enigma identified the intense anomalies in three lines, with indications that the alteration system at Thaduna is far more intense in the northwestern part of the survey area.

Notably, the chargeability anomalies do not appear to coincide with the most intense conductivity anomalies identified in a variable time electromagnetic calculated time constant image.

This indicates that the chargeability anomalies identified by the Pole-Dipole survey are likely to represent semi-massive sulphides, rather than black sulphidic shales.



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Mon, 28 May 2012 16:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162198/sipa-resources-ip-survey-highlights-semi-massive-sulphide-potential-at-thaduna-copper-project-29374.html
<![CDATA[News - Sipa Resources snares Antofagasta Minerals with capital and alliance ]]> http://www.proactiveinvestors.com.au/companies/news/162197/sipa-resources-snares-antofagasta-minerals-with-capital-and-alliance-21310.html Sipa Resources (ASX: SRI) has entered into a strategic alliance with Chile-based Antofagasta plc (LON: ANTO), one of the world’s largest copper producers, to explore for copper in Western Australia outside of Sipa's current properties.

Antofagasta will inject US$1 million into Sipa, as part of a larger capital raising capped at A$7.7 million, to assist Sipa in advancing exploration at its Thaduna Copper and Woodline Gold properties where significant potential exists.

All existing Sipa properties including Thaduna Copper and Woodline Gold properties are excluded from the alliance with Antofagasta Minerals Perth Pty Limited (AM), an indirect wholly-owned subsidiary of the mining division of Antofagasta plc.

The capital raising will consist of a placement of A$4.2 million to institutional and sophisticated clients of Blackswan Equities, and a shareholder share purchase plan (SPP) capped at A$3.5 million.

The SPP will be at $0.13 per share, a 19.9% discount to the 5 day volume weighted share price of the company. Blackswan Equities Limited is Lead Manager to the placement.

As part of consideration for the placement, Blackswan will receive 1 million options in the company with an exercise price of $0.20 per option with an expiry 2 years from issue.

It is anticipated that any shortfall of the SPP will be placed by Blackswan Equities Limited.

The agreement includes a regional strategic exploration alliance that covers all of Western Australia, excluding all of Sipa’s existing properties and certain properties agreed by Sipa and AM.

As part of the agreement, AM will provide a US$1 million private placement into Sipa. AM will subscribe to 7,396,154 shares in Sipa at a price of $0.13 per share for total proceeds of A$961,500.02 (US$1 million).

Thaduna Exploration

Sipa Resources is poised to commence reverse circulation drilling at the Enigma Copper Prospect at Thaduna in mid-November, closely followed by another RAB/Aircore programme at Thaduna’s other very promising copper anomalies.

Rotary air blast drilling is also scheduled for the Leucippus and Adiamanthus Gold Prospects at Woodline, later in November.

Strategic alliance and designated projects

The alliance with AM seeks to capitalise on Sipa’s exploration expertise with the aim of generating Greenfield copper projects in Western Australia.

AM will contribute funding of at least US$400,000 in the first year and US$800,000 annually for the subsequent two year period.

At the end of the three year period, the Alliance may be extended by mutual agreement with AM funding a minimum of $400,000 USD annually for as long as the agreement is in place.

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Fri, 28 Oct 2011 09:52:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162197/sipa-resources-snares-antofagasta-minerals-with-capital-and-alliance-21310.html
<![CDATA[News - Sipa Resources in pre-open for share placement and strategic alliance announcement ]]> http://www.proactiveinvestors.com.au/companies/news/162196/sipa-resources-in-pre-open-for-share-placement-and-strategic-alliance-announcement-21218.html Sipa Resources (ASX: SRI) has been granted a trading halt pending to finalise a share placement and a strategic alliance, going into pre-open this morning.

The company has given no clues as to the nature of either the placement or the alliance.

Over recent months, Sipa has been exploring extensively at the Thaduna Copper Project in Western Australia, which is about 25 kilometres east of Sandfire Resources’ (ASX: SFR) DeGrussa Copper Gold Project.

The trading halt will last until the earlier of an announcement or the commencement of trade on Friday October 28, 2011.

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Wed, 26 Oct 2011 12:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162196/sipa-resources-in-pre-open-for-share-placement-and-strategic-alliance-announcement-21218.html
<![CDATA[News - Sipa Resources secures rig for follow-up drilling at Thaduna Copper Project ]]> http://www.proactiveinvestors.com.au/companies/news/162195/sipa-resources-secures-rig-for-follow-up-drilling-at-thaduna-copper-project-20933.html Sipa Resources (ASX: SRI) will follow-up the recent encouraging drill results from the Enigma copper prospect in November, having secured a reverse circulation drill rig.

In August, Sipa received results including grades of up to 3.7% copper over 8 metres from drilling.

As Sipa indicated when the results were returned, its challenge is now to define the ‘depth, and lateral, extent’ and the ‘grade-distribution’ of the copper blanket and then to find its ‘primary source

The prospect is within its 100%-owned Thaduna Copper Project in Western Australia’s Gascoyne Region, up the Jenkins Fault from Sandfire Resources’ (ASX:SFR) DeGrussa discovery.

The rig is booked to arrive at Thaduna around the middle of November, following a Heritage Survey at the Enigma Prospect and the surrounding area.

Drilling will initially concentrate on the Enigma Prospect, which is a very large area of mainly secondary copper mineralisation and gossan, where Sipa recently encountered a blanket of secondary copper carbonate minerals on one line of aircore holes.

Indications are promising that the company is closing in on a major copper find. Sipa has been exploring at Thaduna for some six years.

Importantly, the mineralisation is open to the north, west and east and 20 of the 24 holes that intersected mineralisation, terminated in mineralisation. The lateral extent, or thickness, of the mineralisation has yet to be determined.

The reverse circulation drilling is designed to define the lateral extent of the secondary copper and determine the thickness of the secondary copper.

It will also help gain an understanding of the primary sulphides and host rocks in fresh rock, by holes as deep as 300 metres, in order to discover the primary, sulphide source of the secondary mineralisation.

Sipa’s Thaduna Project western boundary is about 15 kilometres east of Sandfire’s eastern boundary and about 25 kilometres easterly of DeGrussa. The ground contains about 35 kilometres of strike of the Jenkins Fault.

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Wed, 19 Oct 2011 14:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162195/sipa-resources-secures-rig-for-follow-up-drilling-at-thaduna-copper-project-20933.html
<![CDATA[News - Sipa Resources would be highly encouraged by copper results from Thaduna copper project ]]> http://www.proactiveinvestors.com.au/companies/news/162194/sipa-resources-would-be-highly-encouraged-by-copper-results-from-thaduna-copper-project-18826.html Sipa Resources (ASX: SRI) intends to define the ‘depth, and lateral, extent’ and the ‘grade-distribution’ of the copper blanket and then to find its ‘primary source at its 100%-owned Thaduna Copper Project, up the Jenkins Fault from Sandfire Resources’ (ASX:SFR) DeGrussa discovery.

Sipa encountered a ‘blanket’ of secondary copper carbonate minerals on one line of aircore holes at the Enigma Copper Anomaly at our 100%-owned Thaduna Copper Project.

Analytical results have been received for most of the holes on that line, and for most holes on a line 0.5 kilometres east.

The key features were:

- Grades are up to 3.7% Cu over 8 metres, and thicknesses are up to 52  metres grading 0.3% Cu
- Grades of 14.3% Cu over 2 metres
- Grades are in excess of 1% Cu, in  four  holes, over 500 metres width on the western line
- Grades are in excess of 1% Cu, in  three  adjacent holes, over 200 metres width on the eastern line
- 20 holes, out of 24 holes that reached the mineralised zone, finished in significant copper mineralisation at ‘Aircore refusal’ in weathered rock

Indications are promising that the company is closing in on a major copper find. Sipa has been exploring at Thaduna for some six years.

Interestingly, Sipa has not yet fully penetrated the oxide copper mineralisation or defined its lateral extent, let alone tested primary mineralisation 

This copper blanket could represent the oxidised portion of a large stratabound copper deposit, or lateral, secondary, dispersion from a steeply dipping primary copper sulphide deposit, like at Nifty. 

The initial Nifty discovery was a copper carbonate blanket, above a very large copper sulphide deposit. The approximately 40 million tonne, 1.1% copper, secondary deposit was developed and mined first by WMC and later by Straits Resources in the 1990’s.

Sipa’s Thaduna Project western boundary is about 15 kilometres east of Sandfire’s eastern boundary and about 25 kilometres easterly of DeGrussa. The ground contains about 35 kilometres of strike of the Jenkins Fault.

DeGrussa is presently being developed, with Reserves standing at 10.7 million tonnes grading 5.6% Cu and 1.9 g/t Au. DeGrussa and Enigma are in different host rocks, possibly in different stratigraphic successions.

DeGrussa is in mafic volcanic rocks of the Bryah Basin, whilst Enigma is in sedimentary rocks of the Yerrida Basin. Both mineral occurrences do however share a common structural position, being in proximity to the regionally-extensive Goodin-Jenkin Fault complex.

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Mon, 22 Aug 2011 08:39:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162194/sipa-resources-would-be-highly-encouraged-by-copper-results-from-thaduna-copper-project-18826.html
<![CDATA[News - Sipa Resources recommences drilling at Woodline project in 5m oz Tropicana Gold Province ]]> http://www.proactiveinvestors.com.au/companies/news/162193/sipa-resources-recommences-drilling-at-woodline-project-in-5m-oz-tropicana-gold-province-17478.html Sipa Resources (ASX: SRI) has resumed rotary air blast (RAB) and percussion drilling at its Woodline Gold and Basemetals Project in the Southeastern Goldfields of Western Australia.

The 20,000 metres drilling program follows on from Sipa drilling programs over the last eighteen months at Woodline that had encouraging results including 10 metres at 4.9 grams per tonne (g/t) gold, from surface.

Woodline covers a large area within the emerging Tropicana Gold Province as well as under-explored greenstones of the Kalgoorlie Gold Province.

Prospects targeted include Theofrastos, Leucippus, Ademanthus, Ommaney and Cleanthes. Most of the drilling will be by RAB method, but deeper percussion holes will also be drilled at Theofrastos and Ommaney.

Significantly, Theofrastos, Ommaney and Cleanthes are within Proterozoic metamorphic rocks of the Archaean–Albany–Frazer Transition Zone.

These host the plus 5 million ounce Tropicana Resources of AngloGold Ashanti (NYSE: AU) – Independence Group (ASX: IGO) to the northeast, whilst Leucippus and Ademanthos are in Archaean greenstones.

Woodline comprises 1,085 square kilometres of exploration licences. It includes 900 square kilometres of 100% Sipa ground and Sipa may earn 70% of 125 square kilometres held by Comet Resources (ASX:CRL) and 60 square kilometres held by Image Resources (ASX: IMA)

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Wed, 29 Jun 2011 09:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162193/sipa-resources-recommences-drilling-at-woodline-project-in-5m-oz-tropicana-gold-province-17478.html
<![CDATA[News - Sipa Resources commences 700m diamond drill hole to target magnetic anomaly at Thaduna ]]> http://www.proactiveinvestors.com.au/companies/news/162192/sipa-resources-commences-700m-diamond-drill-hole-to-target-magnetic-anomaly-at-thaduna-11893.html To test for the source of a 10 km long, ovoid, magnetic anomaly, Sipa Resources (ASX: SRI) has commenced a diamond drill hole for at least a depth of 700 metres at the Thaduna Copper Project, located only 25 kilometres east of the high grade DeGrussa-Conductor 1 Copper-Gold discovery in Western Australia.

Sipa considers the igneous intrusion into sedimentary rocks of the Yerrida Basin may be the source of the anomaly, and if so, this could lead to several styles of mineralisation being associated.

The drill hole will also pass through the down-dip projection of the Johnson’s Cairn Prospect, where strongly anomalous copper and gold, along with tellurium, bismuth, antimony, silver, arsenic and lead, was historically detected over 8 kilometres of strike of black shale rocks in soils and shallow drilling.

The Western Australian State Government is providing half the direct drilling cost of the current diamond drillhole through the Co-Funded Government – Industry Drilling Programme funding.

 

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Mon, 22 Nov 2010 09:33:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162192/sipa-resources-commences-700m-diamond-drill-hole-to-target-magnetic-anomaly-at-thaduna-11893.html
<![CDATA[News - Drilling recommences at Sipa Resources West Warrego Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/162191/drilling-recommences-at-sipa-resources-west-warrego-gold-project-3003.html Drilling has recommenced at Sipa Resources Ltd’s (ASX: SRI)  West Warrego Gold Project, 70 km northwest of Tennant Creek in the Northern Territory.

Four out of 12 magnetic targets that were defined by detailed ground magnetic and gravity surveys earlier this year have been chosen for this initial drill testing.

Hole WWD01  was commenced and then abandoned at 199 m due to technical difficulties in August this year. This hole will first be deepened to its planned depth of approximately 250 m.

Three holes will then be drilled to the west of WWD01 in which were identified a number of “bullseye” magnetic anomalies. The most western of these is a composite body, geophysically modelled to be two parallel steep‐dipping sheets.

Most of the important historic high grade gold‐copper mines of the Tennant Creek Goldfield were associated with ironstone bodies containing the mineral magnetite, and were generally expressed geophysically by “bullseye” magnetic anomalies, said Sipa Managing Director Michael Doepel.

This is the first exploration in this area since the early 1970s when this land fell under an exploration moratorium. It is expected the drilling will take two to three weeks and results will be reported as assays become available.

Half the direct drilling costs are to be provided by the Northern Territory Government through their drilling collaboration funding.

At West Warrego, Sipa was the first company to gain access to Aboriginal Freehold Land, granted in the mid 1970s immediately to the west of the Warrego Granite, which contains the likely extension of the high grade Tennant Creek Goldfield.

Tennant Creek has been drawing renewed attention because of recent spectacular “Tennant Creek-like” gold-copper results from the Rover Field to the southwest by Westgold Resources Limited and because Emmerson Resources Limited have recently introduced Robert Friedland’s Ivanhoe Australia Limited to the main Tennant Creek Field in a guaranteed $28 million funding arrangement.

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Mon, 26 Oct 2009 10:17:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162191/drilling-recommences-at-sipa-resources-west-warrego-gold-project-3003.html
<![CDATA[News - Sipa Resources acquires Ashburton gold tenements from Newcrest in WA ]]> http://www.proactiveinvestors.com.au/companies/news/162190/sipa-resources-acquires-ashburton-gold-tenements-from-newcrest-in-wa-1426.html Sipa Resources Ltd (ASX:SRI) has announced that its wholly owned subsidiary Sipa Exploration NL has acquired Newcrest Operations Limited’s 80% interest in the following tenements in the Ashburton:
E08/1650, E47/1742, E52/1941, E52/1943, E52/1944, G52/275, L52/76, M52/639, M52/640, M52/734 & M52/735.

The tenements which were previously owned 80% Newcrest and 20% Sipa were relinquished by Newcrest with Sipa welcoming the opportunity to accept them back.

The tenements include the Mount Olympus area which previously contained the Company’s Paraburdoo Gold Project, where approximately 350,000 ounces of gold was profitably produced by Sipa from four open cuts – Mount Olympus, Waugh, Peake and Zeus.

In addition, some 49,000 ounces of gold remain in oxide/transition Reserves (Sipa ASX Announcement 29 January 2004) at Mount Olympus, above some 490,000 ounces of gold in refractory sulphide Resources (Sipa 2003 Annual Report).

There are numerous gold prospects that have been outlined by Newcrest along a ‘corridor’ approximately 150 km long to the northwest of Mount Olympus.

Sipa plans a thorough re-evaluation of the Project before deciding on how to advance exploration in the Ashburton. Newcrest and Sipa remain in 80% - 20% Joint Venture over the Merlin tenements (E08/1649 and P08/516).

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Tue, 12 May 2009 10:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162190/sipa-resources-acquires-ashburton-gold-tenements-from-newcrest-in-wa-1426.html