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Sipa Resources has thick nickel copper sulphide mineralised system

Sipa Resources has thick nickel copper sulphide mineralised system

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.

 

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