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Sipa Resources Ltd.
Summary
| Project: | Paterson North | |
|---|---|---|
| Deposit: | Obelisk | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Molybdenum-Tungsten | |
| Date: | 5/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-5-2017: Sipa Resources Ltd. announces an Exploration/Drilling Update report for its Obelisk deposit at the Paterson North project. Drilling results incl. 62m @ 0.33g/t Ag, 951ppm Cu, 323ppm Mo, 2920ppm W, 1675ppm Bi from 131m. Sipa Resources Limited (A | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lynda Burnett (Internal) | |
| ABSTRACT: | Sipa Resources Limited (ASX: SRI) is pleased to advise that it has received highly encouraging initial results from the recently completed second reconnaissance 27-hole aircore/RC drilling program at its Paterson North Copper-Gold Project in North Western Australia. Expedited assay results for the first of three deep angled RC holes drilled into the centre of the 4km long Obelisk copper-gold anomaly have intersected a thick zone (62m down-hole to the end of hole) of strongly anomalous >500ppm copper polymetallic mineralization in fresh bedrock (Figure 4). Together with preliminary pXRF results for other holes, the drilling has defined a priority 800m by 200m wide copper zone coincident with a strong gravity and magnetic anomaly. The presence of strongly anomalous bedrock copper mineralisation in 14 drill-holes is considered to be a highly significant development, indicating the presence of a large and zoned polymetallic intrusive-related mineral system. Sipa’s Managing Director, Lynda Burnett, said the Company was encouraged and excited by the initial results of the recently completed drilling program. “Intersecting thick zones of bedrock copper mineralization over such an extensive area in a reconnaissance aircore program which is essentially designed to sample the regolith to maximum depth of around 100m is an important development,” she said. “This together with the elevated multi-element results – including the very high levels of pathfinder elements such as molybdenum, bismuth and tungsten – and the fact that the bedrock mineralization remains open, suggests we have a strong and very large intrusive-related mineral system on our hands.” | |
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