THE BOURSE WHISPERER: Sipa Resources (ASX: SRI) expanded the company’s tenement package in the Paterson Province of Western Australia to 1,242 square kilometres with the addition of the Anketell North tenement ELA 45/5104.
Sipa Resources picked up the new ground after identifying a series of new exploration targets through the interpretation of data received from a recently completed ground gravity survey.
The recent gravity survey added approximately 2000 data points, taking the total number of data points to over 5000.
Sipa described this as being a compelling new dataset in what it considers to be relatively under-explored and prospective terrain.
The company claims the combination of the gravity data with magnetic data clearly identifies areas where granites intrude (gravity lows) and structural culminations or domes (shown in the magnetic data).
This has been interpreted to collectively demonstrate a similar style or geological setting to Telfer (>25Moz gold plus copper) and other mineralised systems in the Paterson Province.
“The substantial program of work completed in 2017 has confirmed that the Paterson North project is highly prospective and contains large, altered, veined sulphidic mineral systems which are spatially related to granite intrusions of the same age…as the gold systems of the Southern Paterson,” Sipa Resources said in its ASX announcement.
“The gravity survey indicates that this prospective stratigraphy extends further to the north-west and, as a result, a new tenement called Anketell North has been pegged to the North of the Anketell tenement.”