6 days ago
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.
