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Sipa Resources Ltd.
Summary
| Project: | Kitgum Pader | |
|---|---|---|
| Deposit: | Akelikongo | |
| Location: | Uganda | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 11/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-11-2016: Sipa Resources Ltd. announces an Exploration/Drilling Update report for its Akelikongo deposit at the Kitgum Pader project. Drilling results incl. 84.5m @ 0.42% Ni, 0.19% Cu from 138m. Sipa Resources Limited (ASX: SRI) is pleased to report the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lynda Burnett (Internal) | |
| ABSTRACT: | Sipa Resources Limited (ASX: SRI) is pleased to report the highest grade assay results seen to date at the emerging Akelikongo nickel-copper discovery, part of its Kitgum Pader Project in Northern Uganda, with two diamond holes intersecting visible massive and disseminated sulphides returning significant grades of up to 2.4% Ni and 2% Cu. The results are considered to be an important breakthrough for the project, demonstrating that the system is strengthening and potentially thickening down-plunge as predicted by the Company’s geological model. Sipa has received initial results for two holes completed as part of the recent RC and diamond drilling program. The remainder of the assay results are expected by the end of November. The drilling program, which was designed to further delineate zones of massive and disseminated sulphides intersected earlier in 2016, consisted of 9 RC holes, 6 RC holes with diamond tails, and 1 diamond hole drilled from surface for a total of ~1,800m of drilling. 12 holes were drilled to test the Akelikongo Ultramafic Complex (Figures 2 and 3) with the remaining four holes testing additional targets in the immediate Akelikongo area. These results continue to improve the nickel and copper grades of the disseminated and basal matrix to semi massive zones. As yet no PGE assays have been returned from these zones which are consistently higher in copper (often associated with PGE’s in nickel-copper sulphide deposits). In the hangingwall of the matrix to semi-massive sulphide zones, wider zones of lower grade disseminated sulphide mineralisation of up to 150m (drilled width) occur. The results validate Sipa’s exploration targeting method to follow the higher grade matrix to semi-massive zone by drilling down plunge and along the embayment as identified in the previous drilling program. | |
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