viewSipa Resources Ltd

Sipa Resources near-term focus is on supporting planned exploration program for 2021

The company has made meaningful progress on its suite of exploration projects in Western Australia (WA) and east Africa.

Sipa Resources Ltd - Sipa Resources focus on activities to support an active 2021 exploration program
Sipa is a Perth-based gold and base metal explorer.

Sipa Resources Ltd (ASX:SRI) has renewed focus on receiving the necessary approvals and permits to support drilling for its planned 2021 exploration program.

The company is taking initiatives to support drilling in the upcoming drill season, upon the grant of its key tenement applications.

Several of Sipa’s WA project applications are progressing towards grant which will allow for on-the-ground activities, including drilling, to commence from March 2021.

Skeleton Rocks gold, nickel-copper project

Sipa’s detailed aeromagnetic survey across the Skeleton Rocks Project area has started and is likely to be completed in the first week of February.

Data from the aeromagnetic survey will enable a more robust interpretation of the geology of the area, along with the identification of suitable targets for drill testing.

The tenements are anticipated to be granted in the second quarter of 2021, and Sipa’s goal is to have drill targets identified well before this occurs.

Murchison Gold Project  

A comprehensive review of historic work completed within Sipa’s Murchison Gold Project in the Murchison area of Western Australia has been undertaken, resulting in the identification of several drill targets.

Several PoW applications have been submitted covering these areas, with the first of these recently approved.

The focus has subsequently shifted to heritage survey planning and discussions are currently underway to undertake the necessary on-ground surveys.

Sipa’s focus is to finalise the necessary approvals and commence drilling as soon as possible in this prospective region of the WA Goldfields.

The Murchison Project represents an excellent opportunity for Sipa to explore for gold in a prolific district with good access, nearby infrastructure and high levels of nearby activity.

Paterson North Project

An extensive gradient array induced polarisation (GAIP) survey is planned for a significant portion of the Project area.

The survey will be funded by Rio Tinto Limited (ASX:RIO) Exploration under the Paterson North JV, with an estimated commencement date in May 2021.

In preparation for the GAIP, a major heritage survey is currently being planned across the tenement package.

Barbwire Terrace Project (Buru Energy JV)

The Farm In Agreement with Buru Energy Limited (ASX:BRU) (FRA:BUD) has been executed and the JV partners’ attention and efforts have now shifted to planning on-ground activities once the tenements are granted.

Initial work will involve the application of suitable geophysical techniques to firm up the existing drill targets, followed by the drilling of a nominal 6 X 500 metres deep holes, as contemplated in the Farm In Agreement.

The target at Barbwire Terrace is large base metal (Zinc, Punjab, Silver) deposits in a similar setting to the very large Admiral Bay deposit to the west, but at much shallower depths.

Quick facts: Sipa Resources Ltd

Price: 0.056 AUD

Market: ASX
Market Cap: $9.96 m

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