Sipa Resources Limited (ASX:SRI) (FRA:SPO) is progressing exploration across its Western Australian tenement portfolio, testing multiple new gold and base metal targets.
The company has completed its first drill program for 2021 at the Murchison Gold Project farm-in and is gaining the necessary approvals and permits for additional drill programs.
Sipa has also identified drill targets at its Skeleton Rocks and Barbwire Terrace projects.
Additionally, several of Sipa’s WA tenement applications are expected to be granted in the coming months, including at the Warralong, Barbwire Terrace and Wolfe Basin projects, which will lead to additional activities on the ground in these areas.
Murchison Gold Project
The company has completed 159 aircore holes for 6,473 metres across three tenements within its Murchison Project with assay results expected in around 4-6 weeks.
Most of the planned drilling was completed, with access to some areas restricted by boggy conditions.
These areas will be drilled as part of future programs being planned to test the recently acquired tenements to the north.
The company considers the project an excellent opportunity to explore for gold in a prolific but under-explored district with good access and nearby infrastructure, and several operating mills.
Skeleton Rocks Project
At Skeleton Rocks Gold, Nickel-Copper Project, the company completed a detailed aeromagnetic survey which underpinned a new interpretation of the basement geology and identification of target areas for follow-up work.
This interpretation highlighted the intersection of major structures such as the Koolanooka Fault with untested greenstones as the highest priority targets for future testing.
The tenement package has now been refined with some less-prospective areas relinquished and additional areas of interest covered by a new application.
These tenements are anticipated to be granted in the second quarter of 2021 and land access agreements will now be sought from relevant landholders within the priority areas.
Target areas within Sipa’s Skeleton Rocks Project tenements over GSWA magnetics.
Barbwire Terrace Project
Initial drill target areas have been identified based on a combination of structural information and interpreted depth to the target horizon at the Barbwire Terrace project.
To assist in refining these target areas, re-imaging of open file gravity data has been undertaken in preparation for additional ground-based surveys anticipated to commence in quarter 2 or 3.