Sipa Resources wraps up RC drilling at new Nuckulla Hill gold project

• Sipa Resources completes RC drilling across 13 holes for 1684m at Nuckulla Hill
• Drilling targeted Sheoak and Bimba prospects, last drilled in 1990s
• Samples have been submitted for assay with results expected in 4-6 weeks

Special Report: Targeting the same Yarlbrinda shear zone as the nearby 1.6Moz Tunkillia gold deposit, recent drilling at the new Nuckulla Hill project in South Australia has intersected similar geology.

Sipa Resources (ASX:SRI) is already gearing up to follow this reverse circulation drilling program with more RC and aircore drilling in early to mid-August.

Results for the 13-hole, 1684m program targeting the Sheoak and Bimba prospects will be available in the next 4 to 6 weeks, once they can be assessed at the laboratory.

Sipa managing director Andrew Muir said the RC program had successfully targeted multiple potential gold zones.

“We were very pleased with the alteration assemblages seen in these zones and the similarities to those observed at the 1.6Moz Tunkillia gold deposit,” he said.

“The results from the drilling will enable us to validate the historical drilling as well as provide significant insights into the grades, widths and orientation of the mineralisation.”

Muir said SRI was already well advanced in plans to begin aircore drilling at the Tunkillia North and Nuckulla Hill gold projects in August.

“The aircore rig will test gold-in-calcrete anomalism, previous drilling as well as new targets,” he said.

“On-ground activities will then shift to the Crown Gold Project in WA, where we have planned aircore drilling to follow up historical geochemical anomalies and historical RAB drilling.”

Nuckulla Hill, Tunkillia North and Skye gold projects

Sipa acquired the Nuckulla Hill gold project alongside the Tunkillia North and Skye projects back in February.

The company chose the Nuckulla Hill project’s Bimba and Sheoak prospects as the first targets of interest due to their position within the large-scale Yarlbrinda shear.

During the RC drilling, SRI observed highly sheared granite in the fresh rock at Sheoak, with sericite-silica-chlorite alteration similar to the geology seen at Tunkillia.

Drilling conditions were more difficult at Bimba due to swelling clays, but Sipa hit strongly sheared granite gneiss with silica-sericite-chlorite-epidote alteration in the target zones.

Once the assays from this program are back from the lab, Sipa will use them to plan a new round of RC drilling, following on from aircore programs already set to be completed at Tunkillia North and Nuckulla Hill, as well as the Crown gold project in WA.

This article was developed in collaboration with Sipa Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.