bh tip drill on abc now, page-8

re: bh tip drill on abc -plough Plough:

The "Falcon" is an advanced airborne geophysical detector, not, in this case, a mining company.

From SRI website:

RECENT DEVELOPMENTS

We also participated in GCAP’s FalconTM Survey in early 2003, which was the first airborne gravity survey flown in Australia for base metals exploration. GCAP nominated their permitted total of 12 areas (10 in the Broken Hill Joint Venture area and 2 in the Copper King Joint Venture area) in which they could earn a 51% interest by providing a Feasibility Study.

GCAP conducted exploration of several target areas, including shallow Reverse Circulation drilling at the Tip and Avondale targets. However, in August, GCAP informed Sipa of their withdrawal from all targets in both the Broken Hill Joint Venture, and the Copper King Joint Venture area, in part because of their corporate re-focus on diamond exploration in Africa. All of the gravity targets then reverted to the umbrella Joint Venture areas. Of most interest to Sipa is a strong gravity feature near the Broken Hill town rubbish dump (the ‘Tip’ anomaly, see figure below) where GCAP had developed a proposal to drill a 600 to 700 metre long hole to test for ‘Broken Hill style’ base metal mineralisation. Notably, the famous Broken Hill ‘Line-of-Lode’ is less than 2,000 metres away, and realistic geological interpretations show that a repetition of that mineralisation could result at moderate (say 300 metre) depth beneath the ‘Tip’ (see figure above right).

WORK PLANNED - BROKEN HILL

Sipa is presently re-evaluating and re-interpreting all of GCAP’s data collected in exploration of their former target areas over the last two years, particularly with a view to determining the best way to drill the geologically intriguing Tip anomaly.

We are also planning surface electromagnetic Surveys over the Little Broken Hill Gabbro area of the Broken Hill Joint Venture with the aim of testing for conductors within intense gravity anomalies that appear to indicate the presence of buried ultramafic bodies with ‘root zones’. These would be highly prospective for nickel-copper-PGM-bearing sulphides.

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