Heritage Surveys Could Delay Sipa’s Drilling Plans Despite Strong Gold Potential

Swift Start to Exploration

Sipa Resources Limited (ASX: SRI) has wasted no time following its recent acquisition of four gold-focused projects, launching on-ground exploration activities at the Tunkillia North project in South Australia less than a week after deal completion. This rapid mobilisation underscores the company’s commitment to unlocking value from its new assets.

The initial phase involves systematic infill calcrete sampling across a substantial 5,000m by 5,000m gold-in-calcrete geochemical anomaly. This anomaly mirrors the scale and tenor of historical findings by MIM in the 1990s, which were associated with Barton Gold’s nearby 1.5 million ounce Tunkillia deposit. By tightening sample spacing, Sipa aims to refine its understanding of the anomaly and identify precise drill targets.

Strategic Location on Major Shear Zones

Both the Tunkillia North and Nuckulla Hill projects are strategically situated along the Yarlbrinda shear zone, a major regional structure known to channel mineralising fluids over an 80km strike length. Notably, Tunkillia North lies at the intersection with the east-west trending Yerda shear zone, enhancing its prospectivity for significant gold mineralisation.

Managing Director Andrew Muir highlighted the district-scale potential of these projects, noting the Central Gawler gold district remains underexplored despite its long history. Recent discoveries, such as Petratherm Ltd’s Muckanippie titanium HMS find, reinforce the area’s capacity to yield new deposits.

Next Steps: Drilling and Heritage Surveys

Following the calcrete sampling, Sipa plans to advance to drilling programs at Nuckulla Hill and the Crown Project in Western Australia. The Nuckulla Hill drilling, targeting prospects like Bimba and Sheoak which have previously returned multiple intersections exceeding 1g/t gold, is scheduled for the June quarter, contingent on heritage survey approvals. Sipa is actively engaging with the Gawler Ranges Aboriginal Corporation Native Title group to facilitate these surveys.

Meanwhile, at the Crown Project near Kalgoorlie, preliminary site assessments have been completed, with aircore drilling planned to follow up on historical drilling and soil sampling results.

Positioning for a Strong 2025

Sipa’s comprehensive exploration strategy for 2025 reflects a clear focus on gold, leveraging proximity to existing deposits and infrastructure to maximise discovery potential. The company’s methodical approach, from geochemical sampling to drilling, positions it well to delineate new targets and potentially expand its resource base in two of Australia’s most promising gold provinces.

As exploration progresses, market participants will be watching closely for assay results and further developments that could validate Sipa’s optimistic outlook on these underexplored terrains.