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2021-05-04 by Proactive Australia
Sipa Resources Ltd (ASX:SRI)(FRA:SPO) has received first assay results from the recently completed aircore (AC) drilling program at the Murchison Project near Meekatharra in Western Australia.
To date, 146 results have been received from a total of 601 samples submitted for the entire drill program.
Previous drilling identified gold
A total of 1,949 metres of drilling in 37 holes were completed on E51/1936 with drilling targeting the northeast-trending margin of and potential structure along a prominent magnetic high associated with a komatiitic basalt.
Historic drilling identified anomalous gold results to the south (WAMEX reference A062603) and there are several historic workings of unknown origin visible along the margin of the sub-cropping basalt.
Sipa Resources (ASX:SRI) receives mixed results from Murchison
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Sipa Resources (SRI) has received the first assay results from its recently completed drilling program at the Murchison Project
The assays from tenement E51/1936 returned no significant results, with no evidence of alteration or mineralised lithologies
However, one hole drilled on tenement E51/1709 returned an anomalous intercept of 4 metres at 0.66 per cent copper
The company will need to see other assays from this tenement, to determine the significance of this anomalism
Sipa Resources is down 10.14 per cent and trading at 6.2 cents per share
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