Latest news with #SipaResources
The Australian
4 days ago
- Business
- The Australian
SRI gears up to drill two gold projects
SRI is ready to get aircore drilling underway at its two new South Australia gold plays Company picked up the Tunkillia North and Nuckulla Hill projects back in February The plan is to systematically explore the projects which sit within the Yarlbrinda Shear Zone Special Report: Sipa Resources is gearing up for a major aircore drilling campaign at its Tunkillia North and Nuckulla Hill gold projects in South Australia. Sipa acquired the Nuckulla Hill gold project alongside the Tunkillia North and Skye projects back in February. Tunkillia North and Nuckulla Hill host multiple advanced, large-scale gold prospects while Skye sits along strike from Barton Gold Holdings' (ASX:BGD) Gold Bore resource and less than 50km from high-grade intersections generated by Marmota (ASX:MEU) at Aurora Tank. The Bimba and Sheoak prospects at Nuckulla Hill sit within the Yarlbrinda Shear Zone, which hosts Barton Gold's 1.6Moz Tunkillia gold deposit. The move to aircore drilling follows the completion of an RC drilling campaign at Nuckulla Hill last month, results of which are expected shortly. Sipa Resources (ASX:SRI) says the 4,000-5,000m aircore program will follow-up historical exploration results from the 1990s, new structural targets at Tunkillia North and areas of Nuckulla Hill along the Yarlbrinda Shear, which hosts the Tunkillia deposit. A map of Nuckulla Hill and Tunkillia North. Pic: SRI Systematic approach to exploration Along with the drilling, the company has completed the reprocessing of regional geophysics with a structural targeting review underway to identify future drill targets. 'Following the recent successful RC drilling, we look forward to testing a range of earlier stage targets with aircore, as part of our systematic approach to testing this highly prospective, yet significantly underexplored region,' SRI managing director Andrew Muir said. 'Beyond the current drilling, we expect the regional geological interpretation will identify multiple new areas to test, which will be the focus for future exploration efforts and significantly expand our project pipeline.' This article was developed in collaboration with Sipa Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
03-07-2025
- Business
- News.com.au
Resources Top 5: Santa Fe jumps five-fold on Côte d'Ivoire gold acquisition
Santa Fe Minerals is acquiring the Eburnea gold project in Côte d'Ivoire Bendigo-style mineralisation has been confirmed in the first diamond hole at Blue Moon prospect in Victoria Drilling is about to start in Sipa Resources' maiden campaign at Tunkillia North and Nuckulla Hill gold projects Your standout small cap resources stocks for Thursday, July 3, 2025 Santa Fe Minerals (ASX:SFM) Santa Fe Minerals (ASX:SFM) jumped more than five-fold to a three-year high of 16c after executing a deal to acquire the Eburnea project in Côte d'Ivoire from Turaco Gold (ASX:TCG). Binding share purchase agreements will give SFM 100% of the Satama permit covering 168.7km2 and up to 90% of the Bouake North application covering 380.8km2 once granted. Satama has shown promise, with hits like 26m at 4.82g/t gold, and sits on a 2km-long mineralised zone with plenty of room to grow as geophysical surveys and historical results suggest there are multiple repeat parallel zones. The deal for the under-application Bouake prospect, which lies 35km from Endeavour's 3Moz Lafigue mine (3Moz at 2.0 g/t), will see SFM acquire 65%, with the right to increase to 80% upon granting and an option to further increase to 90%. Satama and Bouake North have been explored for gold via soil and auger geochemistry, geophysics and several phases of aircore and RC drilling. Drilling has identified multiple gold mineralised zones that have good potential to define significant resources with additional exploration. At Satama, most of the drilling in the Main Zone has been within the shallow oxide zone, however, some deeper holes show good continuation of mineralisation into fresh rock. West of the Main Zone geophysics and geochemistry identified several sub-parallel mineralised zones with strike lengths of up to 3km. These have only been lightly drilled and are confirmed by strong shallow intersections in aircore drilling and remain priority targets. Exploration at Bouake North comprising auger drilling has defined collectively 6km strike of +100ppb gold. To fund the move, Santa Fe has secured $1.2 million at 5c a share, a 61.3% premium to the last closing price, all subject to shareholder and ASX sign-off. The sale is consistent with Turaco's focus on the development of the Afema gold project in southern Cote d'Ivoire and follows divestments of other non-core permits to Many Peaks Minerals, Aurum Resources, Awale Resources and Fortuna Mines. Falcon Metals (ASX:FAL) Falcon Metals is parked at the doorstep of the world-class 22Moz Bendigo Goldfield with the Blue Moon prospect in central Victoria and is revving up its engine after confirming Bendigo-style mineralisation in the first diamond hole. The hole intersected several narrow high-grade gold-bearing quartz lodes and returned 2.2m at 6.5g/t gold from 41.2m, including 0.3m at 39.2g/t from 41.2m; and 2.4m at 8.4g/t from 600m, including 0.3m at 48.7g/t from 600m and 0.3m at 18.2g/t from 602.1m. There may be more to come as FAL has only received partial results. Investors welcome the early success with shares reaching 21.5c, an increase of 38.71% on the pre-trading halt close on June 30. The hole targeted the interpreted northern down-plunge continuation of the Garden Gully anticline trend, at the previously undrilled Blue Moon target area. Garden Gully anticline was the most productive in the Bendigo Goldfield and is estimated to have produced 5.2Moz at 15g/t from areas where the more prospective parts of the sequence outcropped or were close to the surface. The new results and the presence of visible gold from the first hole have confirmed the conceptual target and provide good vectors for wedge holes to test for wider zones of mineralisation closer to the fold hinge. 'This is an exciting start to the drill program, intersecting high-grade veins in our first hole in the east limb of the anticline,' Falcon Metals' managing director Tim Markwell said. 'The recognition of Bendigo-style mineralisation with visible gold proves our concept that the high-grade Bendigo lodes plunge into Falcon tenure and provides encouragement to drill wedge holes, in order to track these zones closer towards the fold hinge, where they are usually thickest.' Remaining assays for the hole are expected to be received in the coming weeks and given results from thus far, the rig has started a wedge hole to test targets T552, T600 and T643 closer to the fold hinge. Shallower targets will be tested by a new hole from surface. SIPA Resources (ASX:SRI) Drilling is about to start in Sipa Resources' maiden campaign at the new Tunkillia North and Nuckulla Hill gold projects in South Australia and shares reached 1.7c, a lift of 21.43%. RC drilling will start next week and the initial aim is to infill and extend previously identified gold mineralisation at Bimba and Sheoak prospects within Nuckulla Hill, which is in the same shear zone that hosts Barton Gold's (ASX:BGD) 1.6Moz Tunkillia deposit. The two projects were acquired in December 2024, host multiple advanced and large-scale prospects and cover ~40km of the Yarlbrinda shear zone – a 150km long and 12km wide structure analogous to the major Kalgoorlie Shear Zone in WA. While exploration is still in its early phases, evidence has emerged that the Yarlbrinda Shear Zone extends from Barton's Tunkillia deposit into Nuckulla Hill. Both projects also host rock types similar to those at Barton's deposit. WIA Gold (ASX:WIA) Positive results have been fielded from 33 RC drill holes and 11 diamond holes in a 11,192m campaign by Wia Gold (ASX:WIA) to upgrade and expand the 2.12Moz Kokoseb Gold Project in Namibia. In Southern Zone RC drilling returned up to 50m at 12g/t Au from 188m, including 1m at 528g/t, and this is the most significant gold intercept returned to date at Kokoseb. Other results were 24m at 2.42g/t Au from 100m, 23m at 2.36 g/t from 92m and 27m at 2.34 g/t from 123m. At Central Zone drilling extended the high-grade shoot with an unconstrained intercept of 118.3m at 1.46g/t Au while infill drilling returned 28m at 1.57g/t from 9m and 33m at 1.47g/t from 87m. Diamond drilling at Central extended the high-grade shoot a further 200m down plunge and returned 9.7m at 4.66g/t Au from 477.9m, including 5.1m at 7.40g/t, and 5.7m at 5.82 g/t from 493.2m. All zones remain open at depth and along strike with all new assays to be included in an MRE update which remains on track to be released in July. Despite volatile met coal prices and markets, Coronado Global Resources is moving ahead, being 29.63% higher to a daily high of 17.5c. A number of moves have been made in the past month to support liquidity including a refinanced debt facility with private equity firm Oaktree Capital Management and up to US$150m in additional liquidity from Stanwell Corporation in exchange for thermal coal supply of up to 800,000tpa over five years from 2027. On July 3 in response to media speculation suggesting that it is in discussions with certain parties about a sale of assets or the business, CRN confirmed to the ASX: 'The company has engaged in discussions with certain counterparties about a potential sale of a minority interest in certain assets but has not received any binding proposal from any party and has not made any decision as to whether it will proceed with a sale or any other form of transaction.'
News.com.au
19-06-2025
- Business
- News.com.au
The Right Postcode: Sipa shines a spotlight on South Australia's gold potential
WA may be Australia's home of gold, but South Australia has been flying under the radar Among SA's exciting explorers is Sipa Resources, which recently acquired the Nuckulla Hill and Tunkillia North assets bordering Barton Gold We chat to Sipa's managing director Andrew Muir about the opportunity Mergers and acquisitions in the metals and mining sector heavily favoured gold over base metals in 2024, and that trend has continued into 2025. The initial wave of M&A activity was driven by larger players. But junior resources companies are now stepping up, targeting project acquisitions to grow their portfolios and expand operational footprints in response to favourable market conditions and high gold prices. Recent examples include TG Metals (ASX:TG6) acquiring the Van Uden gold project in Western Australia, Minerals 260 (ASX:MI6) purchasing the Bullabulling Gold Project from Norton Goldfields, Auric Mining (ASX:AWJ) securing the Lindsay's Project in WA and Great Divide Mining (ASX:GDM) taking a 15% stake in Adelong Gold's Challenger mine as part of a restart strategy. Western Australia has attracted the lion's share of the attention as the source of 70% of Australia's world class gold production. But South Australia offers compelling exploration and development prospects that have largely gone unnoticed. Mineral-rich neighbourhood SIPA Resources (ASX:SRI) illustrates this point well, with its Nuckulla Hill gold asset adjacent to Barton Gold (ASX:BGD) 1.6Moz Tunkillia gold deposit in South Australia's Gawler Craton. The company marked its entry into the highly prospective post code last year when it secured a binding agreement to acquire full ownership of three projects from Gawler Craton Pty Ltd. It also owns two other gold projects in the vicinity, Skye and Tunkillia North, the latter of which borders Barton Gold's asset. Other major gold deposits in the region include Barton Gold's 1.2Moz Challenger mine, originally discovered by Dominion Mining in 1995. Nearby budding gold explorers include Indiana Resources (ASX:IDA) and their Minos deposit, which surrounds Sipa's Tunkillia North asset. Drilling and scoping study related activities are in the works at Minos, with Indiana looking to deliver a maiden resource at the asset sometime this year. At the start of the year, the project yielded bonanza-grade results of up to 44.9g/t and 45.9g/t gold, highlighting its strong potential for a viable mining operation. The current 27-hole for 6600m RC program is scheduled to continue until August 2025, targeting extensions to Minos in all directions. The Tunkillia North and Nuckulla Hill projects host multiple advanced and large-scale gold prospects, while Skye sits along strike from Barton Gold's Gold Bore resource, and less than 50km from high-grade intersections generated by Marmota (ASX:MEU) at Aurora Tank. While exploration is still in its early phases, evidence has emerged that the Yarlbrinda Shear Zone extends from Barton's Tunkillia deposit into Sipa's Nuckulla Hill landholding. Speaking with Stockhead, Sipa managing director Andrew Muir said the company is optimistic there is potential for a significant discovery on its ground. 'It's a very big, and pretty wide, shear zone which has had a lot of gold-rich fluids travel along it,' he said. Similar rocks and geology As Muir points out, Sipa holds ground covering ~40km of the same shear zone as Barton's Tunkillia with similar rock types. But compared to Barton's tenure it's remarkably underexplored. 'We have some early-stage drill hits, particularly at prospects like Bimba and Sheoak, that aren't too dissimilar to Barton's Tunkillia,' he added. 'We're excited to undertake our first drill program soon and hopefully find something of substance.' The Yarlbrinda Shear Zone is a major structure about 150km long and 12km wide and is analogous to the major Kalgoorlie Shear Zone in WA. Pending heritage and PEPR approvals, RC and aircore drill programs will begin at Nuckulla HIll over the coming weeks to follow up historically identified gold anomalism and mineralisation, as well as to test new areas to the north and south of Barton's Tunkillia gold deposit. Elsewhere in the district, Barton has recently launched a 2500m drilling program at its Tarcoola project, about 70km northwest of Tunkillia and within trucking distance of its processing plant, with a major focus on the new Tolmer 'silver zone' discovery. Recent assay results from the first seven discovery holes have placed among several 'global Top 10' rankings, highlighting a promising new commercial pathway for Barton Gold. Its actively working towards constructing a new processing plant, with their plan involving recommissioning the existing Central Gawler Mill to bring it into production by mid-2026 and then developing a second mill at the Tunkillia project. Unlocking synergies and scale Barton is at a more advanced stage than Sipa, having steadily increased the size of Tunkillia since its original discovery in the 90s. But if a meaningful discovery is made on Sipa's ground in the future, Muir said consolidation could offer several strategic benefits. 'Given Barton have a very large deposit just up the road and are already on the path of funding and building a processing plant, if we found something of reasonable size it would make sense to use the one central plant rather than build two processing plants,' he said. 'There's many synergies associated with that from an M&A perspective. If we find something big enough, we'd be keen to develop it ourselves, but it all depends on the drilling.'
