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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.

The last twelve months has seen a rationalisation of Sipa’s Exploration efforts to two outstanding Projects:

  • Thaduna Copper Project in the Gascoyne Region of Western Australia and,
  • Kitgum-Pader Basemetals & Gold Project in central northern Uganda
At Thaduna, we believe we have the standout, early stage, copper exploration project in Western Australia, comprising:
  • about 1,000 square kilometres of Exploration Licences covering Paleoproterozoic rocks highly prospective for very large copper deposits with affinities to the Central African Copperbelt and Mt Isa in Qld
  • the Enigma Prospect, discovered just over two years ago, is a very large accumulation of, mostly, secondary copper mineralisation within a ‘blanket’ about 60 to 100m below surface, in sandstone units within a carbonate sequence. Drill intersections include up to 34m @ 2.8% Cu, containing 11m @ 7.6% Cu
  • the secondary copper blanket covers an area of at least 5km by up to 2km
  • there are also drill intersections containing primary chalcopyrite, ranging up to 63m @ 1.1% Cu
  • an emerging Cu-Co-Ni association (including the nickel sulphide millerite) seems increasingly to point towards Central African Copperbelt deposits, like the Enterprise Deposit, which is part of the world-class Sentinel Mine development in Zambia
Our challenge has been to find the primary source, or sources, of the secondary mineralisation, and we believe that very recent drilling and geophysical results have greatly advanced that cause.
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KITGUM-PADER (click link below)

At Kitgum-Pader, we also believe that we have a standout grassroots exploration project for Lead-Zinc-Silver, Nickel-Copper-Platinum Group Elements and Gold.

This is essentially a ‘first mover opportunity’ in a very prospective geological terrain that has not yet been explored by competitors, despite a mature exploration and mining destination next door in Tanzania. Key achievements in 2013 include:

  • incorporating an operating company – Sipa Exploration Uganda Limited, owned 80% by Sipa - and recruiting technical and administrative staff

  • applying for, and getting granted, thirteen Exploration Licences covering 5,350 square kilometres

  • taking about 30,000 geochemical soil samples and conducting geological mapping over about 9 months

  • outlining at least a dozen quality Pb-Zn-Ag, Ni-Cu-PGE & Au anomalies for drill testing early 2014

Uganda is a safe and stable country, well supported by the West, in which we have proved in a very short space of time that we can operate very efficiently, both commercially and technically

 

 

Sipa's Grassroots Exploration Strategy

Sipa is a committed explorer dedicated to ‘Grassroots Discovery’ and has a history of success at the Panorama VHMS Province and at the Ashburton Paraburdoo Gold Project Mines.



Such discoveries have enormous leverage for shareholders. One need only look at the sharemarket performances after Sandfire’s 
success through discovery of the high grade Copper-Gold DeGrussa Deposits, or more recently, Sirius’s Nova-Bollinger Nickel-Copper discoveries.

Sipa was the ‘best performer on the ASX in 1990’, and a top achiever in 2001, based on the Panorama, and Waugh Gold Deposit at Paraburdoo, grassroots discoveries respectively.

We remain committed to this Grassroots Strategy, and believe that we are very well positioned to repeat exploration success at both Thaduna and Kitgum-Pader.

 

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