- Sipa Resources (SRI) receives assays from the first four holes drilled at the Paterson North project in Western Australia
- Drilling began in June and tested selected target areas by sampling the prospective basement rocks
- The first four holes did not intersect any “significant” mineralisation, with assays from the first batch of samples showing a peak result of 517 parts per million copper
- Sipa has just completed a gradient array-induced polarisation survey in the south of the project, with additional surveys planned to begin in late October
- Sipa is steady on the market with shares trading at five cents at 2:02 pm AEST
Sipa Resources (SRI) has received assays from the first four holes drilled at the Paterson North Project in Western Australia.
Drilling began in June and tested selected target areas by sampling the prospective basement rocks.
The first batch of assays from this drilling work returned a peak copper grade of 517 parts per million (ppm), though this spanned over only one metre.
Sipa Managing Director Pip Darvall said the company was moving forward with further exploration activities even as the first results from Paterson North started to flow in.
“Whilst the first four holes did not intersect significant mineralisation, we look forward to receiving the assays pending from the remaining 18 holes drilled,” Managing Director Pip Darvall said.
“At the same time, we continue to build a pipeline of targets for future drill programs across areas of the project that are almost completely untested.”
The company drilled an additional 18 holes in the area, with results pending and expected to be reported shortly.
Once results from all holes have been received, they will be subject to further review.
Furthermore, a gradient array induced polarisation (GAIP) survey was just completed in the south of the project and extended the area covered in previous surveys.
Data from the survey will be added to the existing data to support future drilling programs.
Additional GAIP surveys have been planned for the northern part of the project and will begin in late October.
The Paterson North project is part of a farm-in and joint venture deal between Sipa and Rio Tinto Exploration.
Sipa was steady on the market with shares trading at five cents at 2:02 pm AEST.