Sipa Resources Limited (ASX: SRI) has reviewed historic drill results which have identified potential for rare earth element mineralization on the company’s wholly-owned Wolfe Basin Project, located around 100km SW of Halls Creek, WA.
Sipa will now undertake additional work to identify REE drill targets alongside the ongoing focus on the base metal potential. The project lies in a prospective location, within 8km of the nearby Cummins Range REE and phosphate deposit held by RAREX.
Air Core drilling in 2007 by Northern Star Resources Limited intersected up to 16m @650ppm rare earth oxides (Ce, Er, Eu, La, & Y, WAMEX A78494). Of note is that only five of the possible 15 REE’s were assayed, and future work will incorporate the full assay suite. The hole was logged as drilling the contact between mafic units and a felsic unit described as ’weathered granitoid’.
Sipa has stated that the extent of drilling undertaken on the tenement is extremely limited (WAMEX records indicate that this is the only mineral exploration hole ever drilled within Sipa’s 260km2 E80/5491.
The historic hole is located on the margin of a prominent magnetic anomaly that may represent an underlying intrusive or structural position favourable for hosting REE’s. Limited information is contained within the historic reports and the only other data available is wide spaced (1km x 1km) soil sampling undertaken by Sipa in late 2022.
Sipa will commence additional on-groundwork, including infill soil sampling in the current Quarter, to refine drill targets for future testing.
Sipa Resources managing director, Pip Darvall said: “To date we have focussed entirely on the strong base metals potential of our Wolfe Basin project, but the identification of REE’s in historic drilling is a great opportunity to add value to the project via some cost-effective work.”
To find out more, please visit www.sipa.com.au
