SIPA RESOURCES INTERNATIONAL NL
BULGA DOWNS GOLD PROJECT
PARADISE BORE GOLD DEPOSIT
Precollars for ten diamond drill holes were completed before Easter
and the diamond core 'tails' are now being drilled. The drilling is
testing a 320 metre long section of lode at between about 150 metres
and 250 metres depth, beneath and down plunge of the shallow (less
than 60 metres deep) Paradise Bore oxide gold deposit.
There are eighteen contiguous holes within the oxide deposit which
have high grade intersections averaging 2 metres @ l8g/t Au (at a
4g/t Au cut off) and the current drilling is designed to test for a
potentially underground mineable deposit of similar grade.
KILLALOE NICKEL PROJECT
Sipa may earn 70% interest in the rights to explore for and mine
nickel, basemetals and associated Platinum Group Element ore from
Cullen Resources NL at Killaloe, which is situated about 25
kilometres northeast of Norseman in the Kambalda-Widgiemooltha Nickel
Province in the southeastern Goldfields of Western Australia.
Geological mapping recently commenced, following data compilation and
flying of aerial photography.
The exploration strategy at Killaloe is to first geologically map the
170 square kilometre Project at 1:5,000, concentrating on
establishing the stratigraphy (or the sequence of rock types) and
whether there are repetitions of the most prospective parts of that
sequence. Careful definition of the rock "contacts" that are most
likely to host the massive nickel sulphide deposits that we are
exploring for is very important, as is looking for signs of
mineralisation along those contacts.
As mapping progresses, an interpretation of the area is being updated
using a high quality and detailed airborne magnetic survey acquired
by Cullen. Following completion of the mapping and interpretation,
RAB drilling will be done before selective ground Electromagnetic
surveys. RAB drilling should commence mid May with deeper Reverse
Circulation/Diamond Drilling following.
Results to date are encouraging. It has been confirmed that the
Project contains the Kambalda-Widgiemooltha stratigraphy that hosts
those "world-class nickel camps" to the north and that the
stratigraphy has probably been structurally repeated at least once,
to form an Eastern and Western Ultramafic Sequence. The critical
contact between the footwall Lunnon Basalt and the overlaying
Kambalda Ultramafics is intact, though very poorly exposed, and the
detailed magnetics when combined with the mapping show a number of
prospective "footwall embayments". It is in such footwall embayments
along this contact that most of the Kambalda-Widgiemooltha nickel
deposits occur. A poorly outcropping nickel gossan has already been
found in on the basal contact in the Western Ultramafic Sequence.
There is about 20 kilometres of the Eastern Ultramafics contact and
about 10 kilometres of the Western Ultramafic contact within the
Project.
SIPA - GAIA EXPLORATION
Sipa - Gaia Exploration utilises the very large historical Rio Tinto
Exploration Pty Ltd geochemical and mineralogical database covering
large areas of Australia through an exclusive Data Licensing
Agreement. The Agreement is now about 2 years through its 4 year term
and most tenement applications resulting from the database have been
made in three provinces - the Kimberley, the Patterson Province and
North Queensland. Little fieldwork has been done to date in the two
latter provinces due to land access issues, but exploration in the
Dixon Range area in the Kimberley has already led to encouraging
results for gold-copper and lead-zinc mineralisation, as reported in
Sipa's last ASX Quarterly Report.
Fieldwork comprising geological mapping and stream sediment sampling
is due to recommence at Dixon Range early in May on our own tenements
as well as on a joint venture exploration licence held by
Independence Gold NL.
In addition, the nearby Bannerman project is to be stream sediment
sampled.
Systematic shallow geochemical drilling is planned for the three
Patterson Province Basemetals Projects following heritage clearances
and reconnaissance fieldwork on the recently granted Angore Creek
Project in North Queensland is to commence this quarter.
PANORAMA BASE METALS PROJECT
Outokumpu Zinc Australia Pty Limited have advised us that the Sulphur
Springs Feasibility Study is expected to be completed and delivered
to us on time by 7 June 2002.
OTHER PROJECTS
Fieldwork has commenced at the Ularring Rock Gold Project near
Northam east of Perth and will lead to reconnaissance RAB drilling in
May. Preparations are complete for fieldwork on the recently granted
Black Knob Project in North Queensland.
M Doepel (MSc, DIC M AusIMM)
MANAGING DIRECTOR
The information in this report is based on information by a person
who is a Corporate Member of the Australasian Institute of Mining and
Metallurgy and who has more than five years experience in the field
of activity being reported on. This report accurately reflects the
information compiled by that member.
The information in this report that relates to the Waugh Mineral
Resource is based on information compiled by Mr Nic Johnson of
Hellman & Schofield Pty Ltd. Mr Johnson is a member of the Australian
Institute of Geoscientists. He has sufficient experience, which is
relevant to the style of mineralisation and type of deposits under
consideration, and to the activity, which he is undertaking, to
qualify as a Competent Person as defined in the 1999 release of the
"Australian Code for Reporting of Mineral Resources and Ore
Reserves". Mr Johnson consents to the inclusion of the information in
the report in the form and context in which it appears.
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