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Paterson North

Sipa’s Paterson North Project in the North West of Western Australia is an exciting new exploration discovery for the Company in one of the most highly endowed yet under-explored mineral provinces in Australia. Sipa is earning up to an 80 % interest in the project with Ming Gold.  

Location of Paterson North projectFigure 1: Location of Paterson North Project.

Components

  • Large Copper >0.1% and Gold up to 1.3g/t plus Molybdenum Silver and Tungsten identified.
  • Sipa’s Project immediately adjoins Antipa Minerals’ Citadel Project to the south containing the Magnum and Calibre copper gold deposits (>1Moz gold and >100,000t Cu) , where Rio Tinto Exploration is spending up to $60M to earn a 75% interest.
  • Located 120km north of the world-class Telfer gold and copper deposits and the OCallaghans Tungsten Deposit.
  • Collaborative research study with CSIRO building geological model and interpreting mineralisation history and style.
  • Recipient of WA Government EIS co-funding grants.

Paterson geology showing cover and magneticsFigure 2: Paterson geology showing cover and magnetics

During 2016-17, Sipa conducted extensive Aircore and RC drilling and ground geophysics. This resulted in the delineation of a strong zone of alteration within the broader 4km long copper anomaly which has copper greater than 0.1% and anomalous gold, silver, molybdenum and tungsten at Obelisk.

Exploration in 2018 has consisted of a 29-hole Aircore/RC drilling program comprising a total of 3,462m, testing a total of seven regional targets including Aranea, Asselli, Vela, NW Obelisk, Andromeda as well as four targets located at and near the Obelisk Prospect. The purpose of this initial reconnaissance program was to test a variety of geophysical targets for evidence of mineralisation (see Figure 3).

Paterson North magnetics RTP image showing prospect locationsFigure 3: Paterson North magnetics RTP image showing prospect locations.

The priority targets were identified from 3D magnetics inversion, gravity and ground and airborne electro-magnetics. At the Andromeda target, an IP gradient-array survey was completed prior to drilling to refine the target.

At Aranea, drill-hole PNA075 intersected 1 metre of gossanous ironstone assaying 488ppm Cu in the weathered Proterozoic rocks and strong biotite-chlorite alteration of mafic dolerite and gneiss in the fresh Proterozoic rocks.

Drill holes PNA075 and PNA79 returned thick anomalous copper mineralisation (Figure 4). Peak copper in drill hole PNA079 reached 700ppm over 3m from 96m. These intersections are similar to early intersections into the Obelisk Prospect and together with the gossanous ironstone may indicate the presence of another sulphide mineralised system outside the Obelisk Prospect.

In the Obelisk area, further drilling to the south of the main Obelisk copper trend has highlighted further copper anomalism as well as within the main Obelisk anomaly (see Figure 5). The peak copper assay of 958ppm in PNA088 may indicate that the envelope of >1000ppm copper extends further to the northwest than currently depicted in Figure 5. Thick intersections of anomalous copper (>250ppm) in drill holes PNA090 and PNA091 extend the previous >250ppm copper contour for another 550m to the south.

Paterson North magnetics RTP image showing prospect locationsFigure 4: Anomalous copper trend at Aranea over 2km. RTP Magnetic image. Gossanous ironstone in PNA075

Obelisk Area Reconnaissance Drilling copper anomalism shown on RTP Magnetic imageFigure 5: Obelisk Area Reconnaissance Drilling copper anomalism shown on RTP Magnetic image

Obelisk Prospect diamond drilling

Drilling undertaken by Sipa during the 2016 and 2017 field seasons, defined a large >4km copper-plus- polymetallic system at Obelisk. The prospect is a co-incident magnetic IP and gravity feature which was initially targeted and drilled by Ming Gold in 2015.

A review and re-modelling of the IP data shows that the calculated metal factor (concentration of metals) is strongest in the north-west of the area drilled and correlates with the surface projection of a new magnetic model. Drilling to further test this anomaly was underway in October 2018.