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Market: ASX
Sector: General Mining
EPIC: SRI
Latest Price: A$0.12  (4.35% Ascending)
52-week High: A$0.21
52-week Low: A$0.05
Market Cap: A$45.54M
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Sipa Resources
www.sipa.com.au

Sipa Resources Limited is engaged in the acquisition and exploration of mineral tenements in Australia.

Its projects include Woodline Gold and Basemetals Project, Thaduna and Ilgarari Copper Projects, Sipa-Newmont Gold Exploration Alliance, Hogans Gold Project, Yindi Rock Gold Project, Southeast Meekatharra Gold Project, Jillewarra and Yindi Dam Gold Projects, Strathalbyn Gold Project, Burrtina Gold Project, Panorama Basemetals Project, Ashburton Gold Projects, and Coolgardie Gold and Nickel Project.

Full Sipa Resources profile here
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Sipa Resources optimistic that tenements form part of Tropican Gold province

19th Mar 2010, 9:13 am

Sipa Resources (ASX: SRI) has received results from 850 in-fill calcrete samples at its Heraclitus and Theofrastos Prospects.

Drill targets have been defined along 15 Kilometres of Gold Anomalies at Woodline.

These are located within the Woodline Gold and Basemetals Project, covering a large area within the emerging Tropicana Gold Province as well as underexplored greenstones of the Kalgoorlie Gold Province.

The results show that the Heraclitus and Theofrastos anomalies contain at least 15 kilometres of northeasterly striking mineralised trends above 20 ppb gold, which peak at 266 ppb.

In February, the southern tip of an eight kilometre long by two kilometre wide gold-incalcrete anomaly at Heraclitus was RC drilled - all seven holes intersecting significant mineralisation of up to 9g/t gold within a lode which is up to 35 metres thick.

Mike Doepel, managing director of Sipa Resources said while it was still early days, to put Heraclitus and Theofrastos in perspective, the five million ounce Tropicana gold resource and the new Boston Shaker discovery (only 500 metres northeast of Tropicana announced two days ago by IGO), lie within a three kilometre portion of larger northeasterly mineralised trend, in a similar geological setting to Woodline.

In comparison, Heraclitus and Theofrastos sit on similar northeasterly trends, and with some 15 kilometres of strike, are well capable of encapsulating multiple finds like Tropicana and Boston Shaker.

He said “We have been working for a number of years within the very large Woodline Project and are now refining our search areas into discrete mineralised zones that we can target with focussed drilling”.

There appears to be further evidence that Sipa tenements may form part of the emerging Tropicana Gold Province.  Infill sampling will better define more gold-in-calcrete anomalies prior to drilling.

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