Sipa Resources Ltd (ASX:SRI) (FRA:SPO) managing director Pip Darvall has demonstrated confidence in the company’s gold and base metals strategy with the on-market purchase of shares.
On July 1, Darvall acquired 232,687 shares, increasing the number of securities held by him (indirect interest) to 896,466 shares.
Advancing Western Australian portfolio
Sipa has been advancing activities across its Western Australian project portfolio and will shortly begin a second drilling program at the Murchison Gold Project.
Earlier in March this year, Sipa completed its first drill program at Murchison and will shortly start a second program, with on-ground preparation currently underway.
The upcoming 3,500 metres aircore program will concentrate on existing mineralised trends on E51/1888 identified in historical drilling, in areas that were not able to be accessed in Sipa’s program earlier this year due to wet conditions.
Contractors have been confirmed, clearing of access tracks is underway and drilling is expected to begin in early July.
The company also completed the acquisition of three tenements from Miramar Resources Ltd (ASX:M2R) and all the three tenements acquired are now fully granted, enabling groundwork to be planned.