Assay Results Return Up To 2.9% Pb
Sipa Resources Limited (ASX: SRI) reports that final assays from a recent RC drill programme at its 100% owned Wolfe Basin Project in Western Australia has confirmed the potential for sediment-hosted base-metal mineralisation.
The Wolfe Basin Project is located in the Kimberley region of Western Australia and has been the subject of only limited field investigations and no drilling prior to this initial program.
Drilling tested the prospective stratigraphy and the down-dip projection of outcropping ironstone gossans, as well as a large east-west trending fault as a possible conduit and/or trap for mineralising fluids.
A gradient array IP survey completed earlier in 2020 provided support that an anomalous base metal horizon was associated with sulphides at depth. At Wolfe Basin, mapping has defined a prospective horizon more than 80km in length, with anomalous base metals observed in soil sampling for at least 20km. The drill programme tested only a small portion of this prospective strike.
The anticipated stratigraphy was intersected, with a thick package of dolomites and shales overlying the basal quartz sandstone unit. Based on visual logging the dolomite contained zones up to 30% pyrite and abundant calcite veins confirming that the IP chargeability response was most likely due to sulphide mineralisation.
Anomalous base metals were intersected in 8 of the 9 holes drilled and were typically elevated in Pb with an extremely encouraging intercept of 1m @ 2.9% Pb in hole WBC009. Elevated levels of both Cu (up to 0.45% in hole WBC009) and Zn (up to 0.38% in hole WBC001) were also encountered. Significant intercepts have been defined as intervals containing Zn+Cu+Pb>1,000ppm.
Managing Director, Pip Darvall, said mineralisation was identified in several horizons, including at shallow depths, and remains open down dip and along strike in all directions. Further targeting will now be undertaken to determine potential locations for thicker and higher-grade accumulations of sulphides, and the best geophysical techniques to locate these prior to additional drill testing.
The drilling was undertaken with the financial support of the Western Australian Government’s Exploration Incentive Scheme.
“The results from our initial drill program at Wolfe Basin are very encouraging, with confirmation of the mineralisation model and extensive base metal anomalism identified across our initial target area,” Mr Daervall said.
“The widespread significant intercepts demonstrate that base-metal rich fluids have circulated through the stratigraphy, and exploration efforts will now focus on identifying additional areas where fluid flow has been focussed, and there is the potential for significant accumulations of sulphides.”
