Sipa Resources recently re-designed website includes a 'Company Update' powerpoint presentation dated 05.08.09:
http://www.sipa.com.au/index.html
Slide 10 refers to the the West Warrego drilling 'commencing next week', and as it is now 11 August, this presumably means that the drilling starts right about now.
The initial programme is for three 250m precollared diamond drillholes, to test the Anomaly 7, Anomaly 8 and Anomaly 10 bullseye magnetic and gravity geophysical targets, and as the diamond holes will have percussion precollars, the first one should be down to target fairly quickly.
These Tennant Creek style, massive sulpide, copper-gold orebodies are a real prize, so any discovery would be a major success for Sipa.
By comparison with Thaduna, the Sandfire-type targets that Sipa is exploring for at Thaduna have high copper grades but only moderate gold grades, whereas at Tennant Creek there are moderate copper grades but unusually high gold grades, and it is these gold grades that really put the icing on the cake.
Sipa have been largely ignored by the investment community for the past 10 years, but they've never given up, and they now deserve to have their name back up in lights. This is exactly how the investor want's to see his exploration dollar spent!
(This is of course personal opinion and not advice)
SRI Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
