Reprocessed airborne geophysical data released by Sipa Resources Ltd (ASX:SRI) has added additional weight to the target area for rare earth element (REE) mineralisation previously identified on its 100%-owned Wolfe Basin Project.
Wolfe Basin is in a prospective location, within 8 kilometres of the nearby Cummins (NYSE:CMI) Range REE and phosphate deposit in WA's northeast.
On July 4, the company said analysis of historical drill assays from the project, revealed coincident elevated REEs and a magnetic anomaly in close proximity to the Cummins Range REE and phosphate deposit, owned by RareX Ltd.
Elevated REE results in historic drilling coincide with a magnetic anomaly trending onto Sipa’s tenure for about 7.5 kilometres.
Location of Sipa’s Wolfe Basin Project and targets over a regional magnetic image.
Reprocessed data
Sipa has kept up the hard work in the two weeks since that early July revelation, reprocessing publicly available airborne magnetic and radiometric data, which have added further significance to the interpreted target area.
Although the data is mostly of low resolution, it reveals higher concentrations of uranium and particularly thorium that align with the magnetic anomaly mentioned on July 4.
These increased levels not only affirm the existing REE target zone but also suggest the existence of surface or near-surface rocks at this site. This information will be beneficial for the scheduled surface sampling and mapping operations set to occur within the current quarter.
Western portion of E80/5491 showing thorium and uranium radiometric anomalism coincident with the 1VD magnetic anomaly defining the rare earths target area.
“Based on the radiometric anomalies, we are even more confident of our new REE target area. Indications are that we are likely to be able to quickly and cost-effectively surface sample the target area to identify the most prospective areas for future drill testing in an area where no previous detailed work has ever been completed,” Sipa Resources managing director Pip Darvall said.
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