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.
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