Sipa Resources (ASX:SRI) Announces Maiden Exploration Programs on New Gold Projects
Exploration Programs Commence on New Gold Projects
Sipa Resources is advancing its maiden exploration programs across four new gold projects in South Australia and Western Australia. Upon receiving shareholder approval for the acquisition, gold-in-calcrete sampling is set to begin at the Tunkillia North Project this month. This will be followed by drilling at the Nuckulla Hill and Crown Projects, scheduled for the June Quarter 2025, pending the completion of heritage surveys.
Skeleton Rocks Returns Elevated Nickel, Cobalt, and Chrome
The December 2024 aircore drilling program at the Skeleton Rocks project in WA returned elevated levels of nickel, cobalt, and chrome from shallow depths. Notable results include intercepts such as 24m at 0.3% Ni, 138ppm Co, and 0.5% Cr from 16m; 12m at 0.4% Ni, 234ppm Co, and 1.0% Cr from 8m; and 8m at 0.4% Ni, 188ppm Co, and 0.7% Cr from 32m. These anomalous samples will undergo re-testing at 1m intervals to refine the distribution of mineralisation.
Paterson North Drill Program Enhances Geological Understanding
The Reverse Circulation drilling program at the Paterson North Project in WA was completed in December 2024, consisting of six holes totaling 1,012m. While no notable copper or gold mineralisation was intersected, the drilling improved the Company’s understanding of key controlling structures and confirmed the mineralisation model, aiding future target generation.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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