Sipa Resources Ltd (ASX:SRI) is diving into extensive exploration across most of its Western Australian projects, including at Paterson North, Barbwire Terrace, Wolfe Basin, Murchison and Warralong.
The field season for Sipa’s northern WA projects is well and truly underway, with site preparations and approvals ticked off, and a period of semi-continuous drilling about to kick off.
Exploration will test gold and base metals targets, with the company confident that success at any one of these drill programs would have a significant impact on its bottom line.
Paterson North
Preparations are in train for the arrival of the drill rig at the Paterson North project, currently subject to a farm-in and joint venture agreement with Rio Tinto Exploration (RTX). Drilling is slated for the end of the month.
The program will comprise 3,000 to 4,000 metres of reverse circulation (RC) drilling, testing targets developed in a close collaboration between Sipa and RTX. This campaign is expected to take six weeks to wrap up.
Barbwire Terrace
The Barbwire Terrace Project involves a 50/50 joint venture between Sipa and Buru Energy Limited with Sipa as the operator.
The JV partners plan to drill up to four 500-metre diamond drill holes testing geophysical and structural targets prospective for lead-zinc mineralisation along the margin of the Barbwire Terrace.
Tracks, drill pads and sumps have been prepared with the support of cultural monitoring by local traditional owner groups.
A drill rig has been secured and will mobilise to the site in mid-July, with an estimated four weeks required to complete the program.
Wolfe Basin
Immediately following the completion of the Barbwire Terrace drill program, the contractor will mobilise to Sipa’s 100%-owned Wolfe Basin Project in the East Kimberley to test prominent geophysical targets in close proximity to copper and lead-zinc anomalism observed during Sipa’s 2021 RC drilling program.
Warralong and Murchison projects
Additional aircore drill programs are planned at Sipa’s Warralong and Murchison projects, following up previous drilling and surface sampling at Warralong and recent target generation work at Murchison.
Sipa Resources managing director Pip Darvall said: “We are pleased to provide this detailed update on our near-term drilling plans, which follows an extensive period of co-development with our major project partners.
“Contractors have been confirmed and drilling timelines locked in at Paterson North, Barbwire Terrace and Wolfe Basin, in what marks an exciting field season ahead for the company and our investors.
“We look forward to providing the next round of drilling results across our flagship projects, with results for the Paterson North joint venture with RTX expected before the end of Q3.”