Targeting PGEs And Base Metals With New Acquisition
Sipa Resources Limited (ASX: SRI) has acquired a new project in Western Australia prospective for gold and nickel-copper-platinum group element deposits.
The ‘Skeleton Rocks’ project area was selected using a combination of prospectivity mapping tools, regional gravity and magnetic data sets and open file exploration reviews.
Managing Director, Pip Darvall, said securing these new applications is part of Sipa’s strategy to focus on large-scale ground holdings in under-explored areas in Western Australia that can be cost-effectively tested.
The project area is in relatively close proximity to Perth and easily accessible for year-round field work.
Four separate tenements have been pegged with a combined area of more than 800 sq. km immediately west of the Southern Cross greenstone belt, and 30km southwest of the mining centre of Marvel Loch. The project area contains several interpreted shallowly covered greenstone belts visible on open file magnetics and gravity, with limited to no drilling ever completed in these areas.
The regional tectonic setting and local geology are prospective for nickel-copper-PGE deposits in outcropping and interpreted ultramafic and mafic intrusives, and for orogenic gold in the untested greenstone units inferred from regional magnetic surveys Mr Darvall said reconnaissance and early stage exploration activities are being planned in H2 2020 to identify priority areas for drilling once tenements are granted.