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Sipa Resources Ltd.
Summary
| Project: | Paterson North | |
|---|---|---|
| Deposit: | Paterson North | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Molybdenum-Tungsten-Sulphur | |
| Date: | 11/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-11-2019: Sipa Resources Ltd. announces an Exploration/Drilling Update report for its Paterson North deposit at the Paterson North project. Drilling results incl. 16m @ 0.17% Cu, 0.31g/t Ag. Sipa Managing Director, Lynda Burnett, said: “The most recent | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lynda Burnett (Internal) | |
| ABSTRACT: | Sipa Managing Director, Lynda Burnett, said: “The most recent phase of reconnaissance drilling has substantially increased the scale of the exploration opportunity at Paterson North, almost doubling the footprint of the main polymetallic discovery at Obelisk. While we are still in the early stages of scoping out the geology and alteration of this extensive under-cover area, we are now making great progress in terms of accumulating invaluable datasets that we believe will help lead us to an economic discovery. “It does takes time to collect all of this data and to understand what techniques work in this underexplored but highly prospective terrain. As a result of the most recent drilling, we now have a much clearer picture of the prospect geology and the geochemical and geophysical signatures of the mineralisation we are hunting for. In addition, our recent mapping of the density and intensity of the fractionated Be-Ta-Nb-Sn dyke swarms has provided another vector to locating better-developed mineralisation. “There is no doubt that Rio Tinto’s recent Winu discovery, right on our doorstep, has given us further important insights into the size of the prize. As a result of the work completed this year – which has seen us carefully integrate all of the available data and revisit a few older ideas – we are very optimistic that we are onto a system capable of hosting an economic orebody at Obelisk. We are looking forward to planning the next stages of geophysics and drilling to vector in to the better mineralised zones.” Sipa Resources Limited (ASX: SRI) is pleased to report final assay results from its recently completed reconnaissance drilling program at the Paterson North Copper-Gold Project in the Paterson Province of WA. The 2019 drilling comprised 2,849m of combined air-core/RC drilling in 26 holes which tested a series of targets arising from the geophysical modelling of the SkyTEM airborne electro-magnetic (EM) survey. The drilling program targeted a range of features including EM, magnetic and soil geochemistry anomalies. | |
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