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Sipa Resources MD demonstrates confidence in gold and base-metals strategy with on-market share purchase

Besides owning highly prospective projects in Western Australia, Sipa also owns Aelikongo Nickel-Copper project in Uganda, which is shaping as an important recent nickel sulphide discovery.

Sipa Resources Ltd -
Sipa’s Murchison Project covers 470 square kilometres of prospective greenstone lithologies.

Sipa Resources Ltd (ASX:SRI) (FRA:SPO) managing director Pip Darvall has demonstrated confidence in the company’s gold and base metals strategy with the on-market purchase of shares.

On July 1, Darvall acquired 232,687 shares, increasing the number of securities held by him (indirect interest) to 896,466 shares.

Advancing Western Australian portfolio

Sipa has been advancing activities across its Western Australian project portfolio and will shortly begin a second drilling program at the Murchison Gold Project.

Earlier in March this year, Sipa completed its first drill program at Murchison and will shortly start a second program, with on-ground preparation currently underway.

The upcoming 3,500 metres aircore program will concentrate on existing mineralised trends on E51/1888 identified in historical drilling, in areas that were not able to be accessed in Sipa’s program earlier this year due to wet conditions.

Contractors have been confirmed, clearing of access tracks is underway and drilling is expected to begin in early July.

The company also completed the acquisition of three tenements from Miramar Resources Ltd (ASX:M2R) and all the three tenements acquired are now fully granted, enabling groundwork to be planned.

Quick facts: Sipa Resources Ltd

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Price: 0.061 AUD

Market Cap: $10.95 m

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Sipa Resources’ Pip Darvall talks enterprise value and exploration plans

Sipa Resources Ltd (ASX:SRI)'s Pip Darvall discusses with Proactive the company's enterprise value in relation to its peers and spells out the valuation proposition for investors. He also talks about the joint venture plans with Rio Tinto as well as the next exploration steps for the reminder of...

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