Sipa Resources Ltd (ASX:SRI) is gearing up for drilling programs, gravity surveys and a site visit across its Western Australian portfolio of projects, preparing for a busy drilling season ahead.
At Paterson North, the company completed a site visit, preparing for a regional and vector-style drilling program to test multiple prospective targets across the project tenure.
The project already holds the 25-million-ounce Tefler mine and the major Winu and Havieron discoveries, but otherwise remains largely untested across large areas of the tenure.
Busy 2024 drilling season
Apart from drilling the north-eastern part of the Paterson North Project (either reverse circulation or air core drilling), Sipa will also complete an air core (AC) drilling program at the Skeleton Rocks Project.
The company recently completed a detailed review of historical data for the project area, confirming its prospectivity for nickel mineralisation, particularly at the 7.5-kilometre-long Nicoletti Trend.
Previous drilling returned nickel in several holes, including 16 metres at 0.4% nickel, 287 parts per million (ppm) cobalt and 1.7% chromium, and 12 metres at 0.3% nickel, 200 ppm cobalt and 0.5% chromium.
Drilling will focus on the areas east and west of previous drilling – access agreements are already in place for key areas, with discussions progressing for others.
At the Barbwire Terra Joint Venture (JV) (held 50:50 with Buru Energy Ltd (ASX:BRU, OTC:BRNGF)), Sipa is planning a ground gravity survey.
The company recently visited the site to meet with the Traditional Owners to introduce the new team and explain the survey.
It will cover the south-eastern portion of the project, where there is a gap in the gravity data over one of the more prospective areas, aiding in the targeting of a diamond drilling program scheduled for 2025 and co-founded by an Exploration Incentive Scheme grant covering 50% of costs.
More groundwork needed
Finally, at Warralong Sipa is processing data from high level mapping and sampling over areas thought to be prospective for copper mineralisation, which will inform a work plan for the year ahead, and at Wolfe Basin Sipa intends to complete a geophysical survey and a drilling program, both likely in 2025.
Before that, the company will undertake a site visit to complete mapping and sampling, and determine accessibility for the geophysics and drill programs.
Sipa says its also continuing to review its portfolio, and remains open to opportunities for acquisitions, divestments or joint ventures.