Skeleton Rocks Drilling Yields Up to 0.4% Nickel; Gold Sampling to Start at Tunkillia North

Exploration Momentum Builds on New Gold Portfolio

Sipa Resources Limited (ASX: SRI) is gearing up for its maiden exploration campaigns across a freshly acquired suite of gold projects in South Australia and Western Australia. With shareholder approval for the acquisition anticipated imminently, the company is poised to commence gold-in-calcrete sampling at the Tunkillia North Project within weeks.

The Tunkillia North site boasts a substantial 5km by 5km gold-in-calcrete geochemical anomaly, reminiscent of the nearby Barton Gold’s Tunkillia Project. This initial sampling program aims to infill broad-spaced historical data from the 1990s, delineating drill targets that could unlock significant gold potential.

Drilling Plans and Heritage Considerations

Following the sampling phase, Sipa plans to advance to drilling at the Nuckulla Hill and Crown projects. These efforts will build on historical drilling that yielded multiple intersections exceeding 1g/t gold, particularly at prospects like Bimba and Sheoak. However, the timing hinges on completing heritage surveys, with Sipa already engaging with relevant Native Title groups to ensure compliance and community collaboration.

Encouraging Nickel-Cobalt-Chrome Results at Skeleton Rocks

Meanwhile, at the Skeleton Rocks Project in Western Australia, December 2024 aircore drilling has delivered elevated levels of nickel, cobalt, and chrome from shallow depths. Notable intercepts include 24 meters at 0.3% nickel with accompanying cobalt and chrome enrichments. These results suggest potential magmatic nickel sulphide mineralisation, warranting further detailed 1-meter interval sampling and geophysical surveys to refine targets along the Nicoletti trend.

Paterson North Drilling Enhances Geological Insight

In the Paterson North Project, six reverse circulation holes totaling over 1,000 meters were completed despite weather interruptions. Although no significant copper or gold mineralisation was intersected, the drilling has enhanced Sipa’s understanding of key structural controls, validating their mineralisation model and informing future target generation in a region proximal to Rio Tinto’s Winu discovery.

Strategic Growth and Future Outlook

Sipa’s acquisition of four advanced gold exploration projects, three in South Australia and one in Western Australia, expands its footprint significantly, covering approximately 759 square kilometers. The company’s methodical approach, combining geochemical sampling, heritage engagement, and targeted drilling, positions it well to unlock value from these assets. The upcoming months will be critical as exploration activities ramp up and initial results begin to flow.