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Sipa Resources advances work programs across precious and base metal assets in WA

At the Murchison Gold Project, Sipa has completed 3,407 metres of air core drilling program and is now awaiting assay results.

Sipa Resources Ltd - Sipa Resources advances work programs across precious and base metal assets in WA
Murchison Gold Project covers around 470 square kilometres of prospective greenstone lithologies.

Sipa Resources Limited (ASX:SRI) (FRA:SPO) is progressing the work program across its portfolio of precious and base metal assets in Western Australia.

Murchison Gold Project (Sipa 100% and farm-in tenements)

The company has completed 3407 metres of air core drilling on tenement E51/1888 within the Murchison Gold Project and has sent the samples from the program to the laboratory.

First assay results are expected in August.

The Murchison Project covers around 470 square kilometres of prospective greenstone lithologies, near the mining centre of Meekatharra within WA’s northern goldfields.

Sipa is currently farming into several tenements and is the 100% owner of other tenements in the project.

Warralong (Sipa 100%)

Sipa has been granted two tenements, E45/5740 and E45/5687, in the Pilbara region of Western Australia.

The 100%-owned tenements contain drill targets prospective for Hemi-style gold and pegmatite-hosted lithium, and the company is planning to target untested intrusions interpreted from its 2020 aeromagnetic survey along the major Lalla Rookh Shear Zone and associated splay faults.

The Warralong Project is prospective for intrusion hosted gold in a ‘look-alike’ structural setting to recent discoveries in the district.

Sipa is currently conducting the heritage survey on the recently granted tenements and has submitted the program of work application to support first pass drilling.

The company is planning to start drilling at the project in the current quarter, subject to approvals, targeting ‘Hemistyle’ intrusion hosted gold and lithium-tin-tantalum pegmatites.

Paterson North Project (Rio Tinto farm-in)

The Paterson North Copper-Gold Project is being progressed in partnership with Rio Tinto Ltd (ASX:RIO).

Sipa is conducting a large-scale gradient array IP survey and geophysical data will be used to refine existing drill targets and potentially identify new targets for copper-gold mineralisation.

The company has started an extensive gradient array induced polarisation (GAIP) geophysical survey after completing a heritage survey in June.

The results from the GAIP survey will be combined with the other geophysical datasets already collected by Sipa to refine existing drill targets and potentially identify new targets prospective for copper-gold mineralisation.

Barbwire Terrace Project (JV with Buru Energy)

Sipa has signed heritage agreements for the project, has been granted tenements and planning is underway for heritage surveys to be completed ahead of gravity surveys and drilling.

The project involves an innovative joint venture with petroleum explorer and operator Buru Energy Limited (ASX:BRU) (OTCMKTS:BRNGF) (FRA:BUD).

Wolfe Basin (Sipa 100%)

Sipa has planned a dipole-dipole IP survey to assist in finalising the next drill targets at the Wolfe Basin Project.

The goal of the dipole-dipole survey is to provide a cross-sectional view of any electrically chargeable bodies such as sulphide accumulations and assist in refining the next drill program.

In 2020, Sipa completed a drill program at Wolfe Basin that confirmed the presence of all the geological elements required to form a sediment-hosted base-metal deposit, close to a large transfer fault and surface gossans.

To assist in vectoring in on any sulphide accumulations that may lie near the previous drilling, geological mapping has just been completed and a dipole-dipole IP survey will shortly start.

At Wolfe Basin, the first drill program intersected base metals up to 2.9% lead, and 0.5% copper, with extensive areas remaining to be tested along more than 40 kilometres long prospective horizon.

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