Join our daily newsletter At The Bell to receive exclusive market insights
- Drilling is scheduled to commence shortly at Sipa Resources’ (SRI) Murchison Gold Project in WA
- The imminent drilling follows the completion of a heritage survey over the company’s gold targets
- The aircore drilling program, stretching over around 5000 metres, is designed to test a range of targets across three of the farm-in tenements
- Weather depending,
- Sipa Resources is down 3.57 per cent, trading at 5.4 cents
Drilling is scheduled to commence shortly at Sipa Resources’ (SRI) Murchison Gold Project in Western Australia.
Sipa Resources is focussed on the discovery of gold and base metal deposits in WA. The company recently acquired the Murchison Gold Project, where it expects to begin drilling next week.
The drilling ramp-up follows the completion of a heritage survey over the company’s gold targets.
The aircore drilling program, stretching over 5,000 meters, is designed to test a range of targets across three of the farm-in tenements, located within the gold project.
The drilling is subject to the weather impacts, due to heavy rainfall in the district.
Historical drilling at E51/1709 has previously been limited to only 30 holes in the entire tenement area, and some large areas remain completely untested. Sipa’s drilling is designed to test along strike from the Tontine Prospect, and the extensions of the Munarra Gully trend of gold occurrences.
To the east, on E51/1936, drilling will target the northeast trending margin and potential structure along a prominent magnetic high associated with a komatiitic basalt.
Sipa Resources is down 3.57 per cent, trading at 5.4 cents at 1:15 pm AEDT.
