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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.
Figure 1: Location of Paterson North Project.
Figure 2: Paterson geology showing cover and magnetics
During 2017 Sipa conducted further 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 (Figure 3).
Figure 3: Obelisk bedrock copper anomaly (green) on image of detailed magnetics with initial diamond drill results.
Figure 4: Sipa Paterson North tenements showing gravity data and reconnaissance dome target with interpreted intrusion plus EM conductor target.
A total of over 5000 gravity points have now been collected over the project area and this combined with the regional magnetics show structure, magnetic stratigraphy and the location of intrusions. New targets for reconnaissance work in 2018 have been highlighted including the domal feature (Figure 4 above) highlighted in yellow which appears to be cored by an intrusion which has a similar character to the one spatially related to the Obelisk copper anomaly.
In addition open file research has revealed an EM conductor identified by BHP in the 1990s from an airborne EM survey was drilled by Croesus returning anomalous dolerite with elevated levels of nickel copper and PGEs. This mineralisation has never been followed up.