Any thoughts on the content of this report? "The Australian Investor" ######################################################### [SRI] Four key Sipa projects on the move 9-Jun-2010
Sipa Resources are very pleased to announce that the company is in full swing at four of its key projects: West Warrego, Thaduna, Woodline and Ilgarari.
The results of latest three reverse circulation (RC) drillholes completed at the West Warrego at Tennant Creek Gold and Copper Project in April 2010 reveal anomalous levels of gold, bismuth, molybdenum and tungsten and two of the holes indicate a near-ore environment that is regarded by Sipa as extremely encouraging.
The three target bullseye magnetic anomalies are about 20 kilometres west of the old Warrego Mine (1.3 million ounces of gold at 8 g/t, 90,000 tonnes of copper at 2% and 12,000 tonnes of bismuth at 0.3%).
RC drilling at the Thaduna Project commenced on 23 May to target high quality targets derived from a recently completed helicopter-borne electromagnetic (VTEM) survey and primary mineralisation at the Ricci-Lee and Rooneys copper mines. One drill hole (THC001) has been completed to date for 260m at the Ricci-Lee copper mine and intersected 7m and 3m of visible malachite from 92m and 102m, respectively. This indicates a previously unknown parallel load west of the Ricci-Lee main load.
RAB drilling of 25,000 metres commenced at the Ilgarari Copper Project on 30 April and RAB/Aircore drilling is scheduled to commence in early June at Woodline targeting Heraclitus and Theofrastos in the Tropicana-style rocks and Socrates in traditional Eastern Goldfields greenstones.
SRI Price at posting:
8.2¢ Sentiment: Buy Disclosure: Not Held
