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Sipa Resources Ltd.
Summary
| Project: | Paterson North | |
|---|---|---|
| Deposit: | Obelisk | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Molybdenum-Tungsten-Sulphur | |
| Date: | 10/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-10-2017: Sipa Resources Ltd. announces an Exploration/Drilling Update report for its Obelisk deposit at the Paterson North project. Drilling results incl. 3m @ 1.8% Cu, 0.94g/t Ag from 95.8m. Further to its announcement of 12 October, Sipa Resources Li | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lynda Burnett (Internal) | |
| ABSTRACT: | Further to its announcement of 12 October, Sipa Resources Limited (ASX: SRI) is pleased to advise that it has received further assay results from drill holes PND003 and PND004 from the recently completed maiden diamond drilling program at the Obelisk copper-gold prospect, part of its Paterson North Copper-Gold Project in Western Australia. Obelisk lies within EL 45/3599, the Great Sandy Tenement where Sipa holds a 51% interest and is now earning up to 80% for expenditure of $3 million from Ming Gold Ltd. The program was designed to provide the first test of potential bedrock mineralisation located beneath an extensive shallow copper and polymetallic anomaly defined during previous RAB/Aircore programs completed in August 2016 and April 2017. Initial assay results have now been received for drill holes PND003 and PND004 of the 4-hole program, totaling 1,604m drilled over a 500m strike length of the system (Figure 3). Assay results from a second sampling program from PND001, PND002, PND003 and PND004 are due late in October. Assay results indicate the presence of a large mineralised system at Obelisk with all holes intersecting zones of intense alteration and quartz, biotite and sulphide veining. Initial assay results for drill holes PND003 and PND004 have now been received, indicating the presence of vein-hosted gold of up to 2.53g/t and copper of up to 1.2% over narrow widths and supergene mineralisation of up to 4.6% Cu and 7.48g/t Ag. | |
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