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Sipa Resources Ltd.
Summary
| Project: | Paterson North | |
|---|---|---|
| Deposit: | Obelisk | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Molybdenum-Tungsten | |
| Date: | 10/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-10-2016: Sipa Resources Ltd. announces an Exploration/Drilling Update report for its Obelisk deposit at the Paterson North project. 8m @ 0.28g/t Au, 0.44g/t Ag, 0.11% Cu, 36ppm Mo, 141ppm W from 86m. Sipa Resources Limited (ASX: SRI) is pleased to advis | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lynda Burnett (Internal) | |
| ABSTRACT: | Sipa Resources Limited (ASX: SRI) is pleased to advise that final results from its initial reconnaissance Aircore/RC drilling program at the Great Sandy Tenement where it is earning an 80% interest, part of its Paterson North Project in the Paterson Province of WA, have confirmed the presence of a significant copper-gold and polymetallic mineral system extending over a strike length of ~4km. The reconnaissance program was completed in mid September and comprised ~4,500m of Aircore/RC drilling in 45 holes. The objective was to test the extensive primary copper-gold-anomaly, known as the Obelisk prospect, within the Great Sandy Tenement and, at a minimum, replicate the anomalous values encountered in previous drilling by Ming Gold Limited. The drilling has confirmed that the anomaly is continuously developed over the entire strike length, including a 1.5km long zone where strongly anomalous copper and gold results were returned, and represents an outstanding target for follow-up exploration. Of the 45 holes, 26 returned strongly anomalous copper values of >250ppm and gold values of >20ppb, highlighting the potential for a significant new mineral discovery. The tenor of the anomalism and the metal association is similar to that which led to the discovery of other significant deposits in the region including the >1Moz Calibre and Magnum deposits. Since initial results were reported in early September, the anomalous copper and gold footprint has been extended to cover 4km of strike with the strongest results of >1000ppm or 0.1% Cu returned over more than 1.5km. | |
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