| SIPA RESOURCES LIMITED: ASX RELEASE |
19 14 December 2007
NEW DRILLING RESULTS EXTEND KANGAROO CAVES DEPOSIT
Sipa Resources is pleased to announce results from five Reverse Circulation drill holes completed in November at the Panorama Basemetals Exploration Project in the Pilbara Region of Western Australia.
In October, Sipa announced a new 6.3 million tonne 3.3% zinc and 0.5% copper resource at Kangaroo Caves. The current phase of drilling comprised holes KCC36 to 40, which were
drilled in an effort to extend the near-surface portion of this resource.
Holes KCC36, 37 and 38 returned the following results:
KCC37: 14m grading 6.2% Zn & 2.8% Cu
from 106m, including;
5m grading 2.3% Zn & 6.4% Cu from 113m, and
7m grading 0.1% Zn & 1.2% Cu from 141m
KCC36: 11m grading 2.5% Zn & 0.1% Cu from 92m
KCC38: 5m grading 3.6% Zn and 0.03% Cu from 152m
These results are very encouraging, as they have extended the Deposit at least 80 metres to the southeast within 100 metres of surface and KCC37 has intersected the thickest and highest-grade copper zone yet recorded from Kangaroo Caves.
Also the Deposit remains ‘open’ to the south and southeast.
Holes KCC39 and KCC40, were drilled to attempt to extend the deposit to the west and northwest at about 160 metres below surface, but did not intersect significant mineralisation.
However, the deposit remains ‘open’ above about 160 metres to the northwest.
All drill holes within, and adjacent, to the Deposit are shown on the Plan attached (Figure2 in the attached ASX Announcement - link at end) and KCC36 to KCC40 are labelled.
Drilling has now commenced at the Nambucca Prospect and will then recommence in the new field season in 2008, with targets intended to include Breakers, Man O’ War, Anomaly 45, Jamesons and Roadmaster, as shown on Figure 1.
Kangaroo Caves is only six kilometres south of the Sulphur Springs opencut mine and concentrate facility development planned by CBH Resources Limited for 2008. Sipa will receive production payments from Sulphur Springs.
CBH is earning a 60% interest in the Panorama Basemetals Exploration Project and Sipa is paid to manage the exploration. Should Kangaroo Caves or any other deposits at Panorama be developed as ‘satellites’ to Sulphur Springs, Sipa would
have 40% of their production.
CLICK HERE TO DOWNLOAD ASX ANNOUNCEMENT
Sipa Resources Limited
ABN 26 009 448 980
Ground Floor, 6 Thelma Street West Perth WA 6005
PO Box 1183 West Perth WA 6872
Tel +618 9486 7001 6259 Fax (08) 9322 3047
info@sipa.com.au
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ISIN : AU000000SRI2 |
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Sipa Res. Ltd est une société d’exploration minière d'or et de nickel basée en Australie. Sipa Res. Ltd détient divers projets d'exploration en Australie. Ses principaux projets en exploration sont PANORAMA, ASHBURTON, WOODLINE, QUINN HILLS, STEPHENS - CENTENNIAL JV et ULARRING ROCK en Australie. Sipa Res. Ltd est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 14,9 millions AU$ (9,7 millions US$, 9,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 09 septembre 2011 à 0,24 AU$, et son plus bas niveau récent le 05 avril 2019 à 0,01 AU$. Sipa Res. Ltd possède 929 950 016 actions en circulation. |