viewSipa Resources Ltd

Sipa Resources receives first results from Murchison Project drilling in WA testing three tenements

Assay results have been received from one hole from 87 holes drilled on tenement E51/1709 and this returned anomalous copper.

Sipa Resources Ltd -
Sipa Resources is an exploration company focused on the discovery of gold and base metal deposits primarily in Western Australia.

Sipa Resources Ltd (ASX:SRI) (FRA:SPO) has received first assay results from the recently completed aircore (AC) drilling program at the Murchison Project near Meekatharra in Western Australia.

To date, 146 results have been received from a total of 601 samples submitted for the entire drill program.

Previous drilling identified gold

A total of 1,949 metres of drilling in 37 holes were completed on E51/1936 with drilling targeting the northeast-trending margin of and potential structure along a prominent magnetic high associated with a komatiitic basalt.

Historic drilling identified anomalous gold results to the south (WAMEX reference A062603) and there are several historic workings of unknown origin visible along the margin of the sub-cropping basalt.

During drilling, the anticipated stratigraphy was intersected, but there was no evidence of alteration or mineralised lithologies, and no significant assays were returned.

Anomalous copper in MUAC0092

Of the 146 samples submitted for assay in this batch, nine samples were from a single hole, MUAC0092, on tenement E51/1709.

These assays are anomalous in copper with an intersection of 4 metres at.66% copper, including 1-metre at 1.34% copper.

The intersection is associated with a quartz vein with minor visible chalcopyrite hosted in dolerite.

This drill hole was completed within a broader zone of dolerite with numerous narrow quartz veins that commonly show copper oxides and carbonates at surface.

The hole is believed to have been at least partially drilled down-dip on one of these quartz veins.

While worthy of further detailed investigation, Sipa cautions that it is unknown whether the anomalous copper results reflect anything more substantial.

Limited widths of alteration (2-5 metres) were observed in the vicinity and the copper anomalism may not extend beyond the narrow veins observed at surface.

Once further assay results are received, the context and significance or otherwise of the copper anomalism in hole MUAC0092 will be able to be fully interpreted and reported.

Quick facts: Sipa Resources Ltd


Price: 0.061 AUD

Market Cap: $10.95 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Sipa Resources focused on northern Pilbara resources hotspot

Sipa Resources Ltd (ASX:SRI) managing director Pip Darvall outlined the company’s busy work program in the northern Pilbara of Western Australia, encompassing the Paterson Province, during this week’s Proactive Resources Webinar. A primary focus is the Warralong Gold Project that is...

1 day, 7 hours ago

2 min read