Sign up Australia
Proactive Investors - Run By Investors For Investors

Sipa Resources confirms vein-hosted gold, copper at Paterson North

The results demonstrate the potential to host high-grade, high-value mineralisation.
copper on the elementary table
Sipa is planning follow-up drilling

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.





Register here to be notified of future SRI Company articles
View full SRI profile View Profile

Sipa Resources Timeline

Related Articles

1508342220_mawson_r_esources_field_team.png
Thu
The group's key assets is the Rompas/Rajapalot project in Fiinish Lapland
Marble lobby
June 07 2017
Has Fox Marble finally turned the corner? Recent news flow has been positive and Mother Nature seems to have taken the company off her hit list.
1505300232_Diamond---Lesotho-Brown.jpg
September 14 2017
Tango Mining has signed a deal to go mining diamonds in Angola, and there could be more to come

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use