Sipa Resources (ASX:SRI) is progressing with an aircore drilling program at its wholly owned Skeleton Rocks Project in Western Australia.
The $5.24 million market capitalisation company says the drill program is testing nickel-copper and lithium pegmatite targets that were uncovered from historical exploration work.
The program is estimated to comprise an initial 1,500m of aircore drilling and will take about one week to complete.
“We are currently very active in the field, testing high-impact targets at our Skeleton Rocks Project and getting set up to commence drilling at Paterson North”
“We are currently very active in the field, testing high-impact targets at our Skeleton Rocks Project and getting set up to commence drilling at Paterson North”
At Skeleton Rocks, the drill program is following up historic nickel-copper and pegmatite intercepts, while the Paterson North drilling funded by Rio Tinto Exploration will be targeting copper-gold systems. Success at either of these drill programs would be transformative for the company.”
Sipa notes the current drill program is planned to intersect pegmatites to collect samples for assay, as well as to test more broadly for new pegmatites in prospective locations inferred from available geophysical surveys.
Sipa Resources is an Australia-based exploration company focused on discovering gold and base metal deposits in Western Australia. As of 30 June 2023, the company had $1.86 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Sipa Resources
