Sipa Resources Ltd (ASX:SRI) (FRA:SPO) has started a second aircore drilling program comprising 3,500 metres at the Murchison Gold Project in Western Australia, focusing on a gold mineralised trend on the eastern margin of the Abbots Greenstone Belt.
The Murchison Project covers around 470 square kilometres of prospective greenstone lithologies, near the mining centre of Meekatharra.
Sipa is currently farming into several tenements and is the 100% owner of other tenements in the project.
Drilling kicked off earlier this week on one of the farm-in tenements, E51/1888, where Sipa has already earned a 51% interest and is funding further exploration to earn up to 90%.
The program, which will take around 10 days to complete, will follow up historic results and recent drill hole MUAC0128, which returned 16 metres at 0.5 g/t gold.
Paterson North Project
Sipa is also the manager and operator of the Paterson North Project and is progressing the project in partnership with Rio Tinto Exploration.
The company recently completed a major heritage survey in preparation for geophysical surveys and it cleared the access tracks required for a large gradient array IP (induced polarisation) survey which is scheduled to start in early July.
Sipa will combine results from the IP survey with existing target areas identified in previous airborne EM (electromagnetic) surveys to generate drill targets for future drilling programs.
Barbwire Terrace Project
Barbwire Terrace Base Metals Project involves an innovative joint venture with petroleum explorer and operator Buru Energy Limited (ASX:BRU).
Sipa has executed Heritage agreements relating to the Barbwire Terrace Project tenements thus paving the way for the grant of the tenements which is expected this month.
Heritage surveys are required ahead of gravity surveys and drilling.