Sipa Resources' IP survey paves way for Wolfe Basin drilling next month

Sipa Resources Limited (ASX:SRI) is making progress with ongoing exploration activities in Western Australia at Wolfe Basin Base Metals Project, Warralong Gold Project and Skeleton Rocks Gold Project. The company has completed an induced polarisation (IP) survey over the initial target area at its Wolfe Basin project to map areas of higher chargeability below the surface that may represent accumulations of sulphide minerals. This survey consisted of a series of east-west oriented, 100-metre spaced lines with 50-metre spaced receivers over an area of around 1 square kilometre. Finalising drill targets Sipa geologists are interpreting the data to assist in finalising drill targets over the coming weeks, in preparation for the arrival of the drill contractor with none of the targets having been previously drill tested. Reverse circulation (RC) drilling is scheduled to commence at Wolfe Basin in mid-October with an initial program of 1,500 metres that can be expanded if favourable results are received. IP survey stations are shown as black points, hotter colours represent higher chargeability zones (potentially sulphides). Warralong project At the Warralong project, Sipa completed a detailed, high-resolution aeromagnetic survey ahead of schedule. The survey collected data on 100-metre spaced, east-west oriented lines, with a sensor height of 30 metres. Imaging of the results will be completed over the coming weeks and assist in the identification of basement features not visible in the publicly available data with a view to identifying drill targets. Sediment samples A total of 102 stream sediment samples were collected from the north-eastern portion of the project area which is deemed amenable to surface geochemistry. These samples are being assayed with results expected in the coming fortnight. Sipa will use the increased resolution of the magnetic data over the project area together with any areas of interest highlighted in the stream sediment assays to determine priority areas for drill testing once the project tenements have been granted. The company's projects across Western Australia. Skeleton Rocks project Funding from the company’s recently completed $2.3 million capital raising has enabled to commission a detailed aeromagnetic survey over the Skeleton Rocks project area, near Southern Cross, WA. Survey flight specifications will be similar to that undertaken at Warralong, with the survey planned to occur in November. Sipa expects this survey will more accurately delineate the location of interpreted shallowly buried greenstone belts as well as identify priority zones along those belts for initial drill testing once tenements are granted.