Sipa Resources (ASX:SRI) - Managing Director, Pip Darvall
Managing Director, Pip Darvall
Source: Sipa Resources
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  • Sipa Resources (SRI) is set to begin drilling at its Skeleton Rocks Project in Western Australia later this week
  • This drilling program will focus on key targets identified via a recently completed soil sampling program
  • The soil sampling was completed in late January and Sipa will use the results to concentrate its drilling program on the most prospective areas
  • Additionally, the Exploration Incentive Scheme (EIS) grant will reduce the direct costs by up to $128,750
  • Sipa ends the day two per cent in the green with shares trading at 5.1 cents

Sipa Resources (SRI) is set to begin drilling at its Skeleton Rocks Project later this week.

The Skeleton Rocks Project is made up of four tenements that cover a combined area of more than 570 square kilometres in the Goldfields region of Western Australia.

The project lies directly west of the Southern Cross Greenstone Belt and features shallow greenstone belts prospective for gold and nickel-copper mineralisation.

This drilling program will focus on key targets identified via a recently completed soil sampling program.

The soil sampling was completed in late January and Sipa will use the results to concentrate its drilling program on the most prospective areas.

Portable x-ray fluorescent (pXRF) analysis of the samples highlighted zones of elevated copper-nickel-cobalt coincident with greenstones interpreted from detailed aeromagnetics.

Auger sampling was used to ensure the samples were collected from a soil horizon as close to the bedrock as possible.

The results provide strong support for the presence of greenstones and mafic intrusive lithologies and areas of focus for drill testing.

Additionally, the Exploration Incentive Scheme (EIS) grant will reduce the direct costs by up to $128,750.

“This work has better defined the key targets to be tested at Skeleton Rocks, and confirmed our previous interpretations of buried greenstone units in a highly prospective setting,” Managing Director Pip Darvall said.

“We are excited to see the results from our imminent drill program, and appreciate the support of the WA Government’s Exploration Incentive Scheme which will significantly reduce the costs to complete it.”

Sipa has ended the day two per cent in the green with shares trading at 5.1 cents for a $10.25 million market cap.

SRI by the numbers
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