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Sipa Resources kicks off new year with nickel, copper, gold exploration

Sipa Resources (ASX:SRI) has commenced its field exploration activities for 2017, starting with geophysical survey at its Akelikongo nickel-copper discovery in Uganda.

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Sipa Resources kicks off new year with nickel, copper, gold exploration

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.

Quick facts: Sipa Resources Limited

Price: 0.07 AUD

ASX:SRI
Market: ASX
Market Cap: $9.96 m
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