Sipa Resources confirms nickel and copper hits at Akelikongo
THE DRILL SERGEANT: Sipa Resources (ASX: SRI) released all final assay results from a recent drilling program at the Akelikongo nickel-copper discovery, part of the company’s Kitgum Pader project in Northern Uganda.
Sipa Resources said the assays confirmed previously reported assay results for holes AKD017 and AKCD006, which intersected visible massive and disseminated sulphides.
Sipa said the results for all of the remaining holes support the company’s new geological model for the Akelikongo discovery and that recent drilling provided a much better indication of the orientation and controls on the better mineralised basal position – which it explained appears to be strengthening and potentially thickening downplunge – and the thick overlying zone of disseminated mineralisation.
The drilling program was designed to further delineate zones of massive and disseminated sulphides intersected earlier in 2016 and consisted of nine RC holes, six RC holes with diamond tails, and one diamond hole drilled from surface.
12 holes were drilled to test the Akelikongo Ultramafic Complex with the remaining four holes testing additional targets in the immediate Akelikongo area.
Final results from AKD017 include:
84.5 metres at 0.37 per cent nickel 0.16 per cent copper from 138m to 222.5m down-hole, including 5.2m at 1 per cent nickel and 0.41 per cent copper from 213.1m to 218.3m down-hole and 0.8m at 0.99 per cent nickel and 1.59 per cent copper from 221.1m down-hole in the basal matrix to semi-massive zone.
Final results from AKCD006 include:
15m at 0.36 per cent nickel and 0.1 per cent copper from 146m to 161m 43.7m at 0.53 per cent nickel and 0.18 per cent copper from 194m to 237.7m down-hole, including 7m at 1.04 per cent nickel and 0.35 per cent copper from 223m to 228.5m down-hole, including 0.4m at 2.47 per cent nickel and 0.2 per cent copper from 228.1m down-hole in the basal matrix to semi-massive zone.
“The drilling has extended the high-grade matrix to semi-massive sulphide zone at least 100 metres downplunge and, more importantly, has given us a much clearer understanding of the orientation and controls on this zone in relation to the overall Ultramafic Complex and the thick disseminated zone which sits on top of it,” Sipa Resources managing director Lynda Burnett said in the company’s announcement to the Australian Securities Exchange.
“The presence of strong matrix sulphide textures as seen in the drill core photos suggests that we are close to a bigger magmatic sulphide pool within this dynamic sulphide conduit system.
“This is an exciting development which validates our exploration approach this year which has been to follow the better mineralised basal position down-plunge to the north.
“As indicated recently, the presence of economic grades of nickel and copper within a system of this scale and fertility is an important development which elevates and strengthens the potential of this system.
“We are very much looking forward to the next stage of evaluation, with down-hole EM surveys commencing early in the New Year to help refine planning for the next stage of exploration.”
Email: info@sipa.com.au
Website: www.sipa.com.au