Base Metals: Sipa drilling supersizes Obelisk copper discovery
Sipa Resources (ASX:SRI) has expanded the footprint of the Obelisk discovery at its Paterson North copper-gold project in WA by at least 200m to the northeast.
The company said this was based on visual observations and portable XRF readings that returned results of up to 0.9 per cent copper along with anomalous tungsten, bismuth and molybdenum.
Portable XRF results provide a picture of what has been discovered, but results that differ from the final assay results.
Sipa’s reconnaissance drilling program also identified the new Dorado, Vespa and Donut copper zones.
The Dorado prospect, 1km north of Obelisk, was targeted on the basis of anomalous surface geochemistry, electromagnetic and magnetic data.
Portable XRF readings on the drill core returned anomalous copper values of up to 1033 parts per million copper.
Vespa is about 3km south of the Obelisk discovery while the circular magnetic and gravity feature known as Donut, which is about 8km east of Obelisk, returned anomalous XRF copper readings along with supporting tungsten.
Obelisk is known to have strong geological similarities with Rio Tinto’s (ASX:RIO) Winu copper-gold-silver discovery to the west, where drilling has returned hits of up to 763m at 0.65 grams per tonne (g/t) gold, 0.44 per cent copper and 2.88g/t silver.
Both discoveries are located in the highly prospective Paterson Province, which hosts the plus 25 million ounce Telfer gold and copper deposit, the Magnum and Calibre gold and copper deposits, and the Nifty copper and Kintyre uranium deposits.
DevEx Resources (ASX:DEV) has kicked off a drilling program at its Bogong copper-gold project in NSW to follow up on historical copper intercepts of up to 54.9m at 1.1 per cent copper from just 6.1m and 9.2m at 2 per cent copper from 39.6m.
Drilling will also test a new induced polarisation anomaly beneath these historical hits.
Additionally, rock chip sampling carried out by the company confirmed the presence of significant copper sulphides at surface extending over 500m of strike with individual results of up to 10 per cent copper and 0.47g/t gold.
Bogong is located within the Lachlan Fold Belt, which hosts major copper deposits such as Newcrest Mining’s (ASX:NCM) Cadia-Ridgeway and China Molybdenum’s Northparkes projects.