Listing on the Australian Stock Exchange in 1987, Sipa Resources Limited (ASX Code: SRI) is a Perth-based Australian gold, base metals and nickel exploration company with a proven track record.
Sipa in the 1990s found the Panorama Copper-Zinc VMS Province and the Ashburton Gold Province, where the company produced profitable gold to mid 2004 from its discoveries.
Sipa’s present leading projects are in two of the ‘Hottest Exploration Spots’ in Australia:
The Thaduna Copper Project in WA’s Gascoyne Region is only 25 kilometres east of the high grade DeGrussa-Conductor 1
Copper-Gold discovery and recent Sipa geological, geochemical and geophysical surveys are outlining some very exciting drilling targets. The main Tenement Holders in the Doolgunna District are here.
The Woodline Gold and Basemetals Project covers a large area within the emerging Tropicana Gold Province as well as under-explored greenstones of the Kalgoorlie Gold Province. Woodline comprises 1,085 square kilometres of Exploration Licences. It includes 900 square kilometres of 100% Sipa ground and Sipa may earn 70% of 125 square kilometres held by Comet Resources Limited and 60 square kilometres held by Image Resources NL.
Kitgum – Pader Basemetals & Gold Project - UGANDA (Sipa Exploration Uganda Limited holds 100% of 2,200 square kilometres in 6 granted Exploration Licences and 770 square kilometres in 2 Exploration Licence Applications)
Sipa Exploration Uganda Limited, a Ugandan registered company owned 80% by Sipa Resources Limited and 20% by Geocrust Pty Ltd, holds some 3,000 square kilometres of granted Exploration Licences, and Applications (hatched), in central northern Uganda, East Africa. The Licences cover a cumulative strike length of about 125 kilometres of southeast striking high grade metamorphic rocks, including garnetiferous gneisses, considered prospective for basemetals, nickel-copper-PGMs and gold. The area was selected after acquiring, compiling and interpreting large recent data sets provided by the Ugandan Department of Geological Survey and Mines as part of a recent Central Government initiative to attract investment in the Minerals Sector.
Sipa's Greenfields Exploration Strategy
Sipa is a committed explorer dedicated to ‘Greenfields Discovery’ and has a history of success at the Panorama VHMS discoveries and the Paraburdoo Gold Project Mines.
Such discoveries have enormous leverage for shareholders. One need only look at Sandfire’s recent
success through discovery, or at Sipa’s ‘best performer on the ASX in 1990’, and as a top achiever in 2001, based on the Panorama and Waugh Gold Deposit greenfields discoveries, for the impact on share price.
Greenfields exploration takes time to ‘identify where it is best to be’, then to do the ‘methodical, hard and systematic work’ to set up the ‘possibility of discovery through drilling.’ This is precisely
the type of exploration we are doing at Woodline, Thaduna, and Tennant Creek and in evaluating other possibilities.
It is worth noting that at Thaduna and Woodline, Sipa is getting results as good, if not better, than Sandfire and Tropicana got when at a similar stage in their Greenfields exploration of those two exciting finds.
Woodline and Thaduna, in particular, are well set up for deeper, ‘discovery drilling’ this year, as well as for continued systematic work to line up new drill targets.