Sipa Resources Limited (ASX: SRI) has completed initial mapping and surface sampling of the REE target areas within Sipa’s 100%- owned Wolfe Basin Project in the Northern Territory.
The Wolfe Basin Project lies in a prospective location, within 8km of the nearby Cummins Range REE and phosphate deposit.
A number of rock chip and soil samples were collected, focussing on the peak thorium anomalies that are coincident with a magnetic anomaly. The historic drillhole CRA026 within Sipa’s tenement area was also located and drill chips from this hole were collected. Examination in the field of the drill chips identified basement rocks in this location as a syenite. Syenites are felsic intrusive rocks that can be enriched in REE’s and this is a likely source rock for the REE’s observed in the immediately overlying and enriched weathered material.
All samples have been submitted for assay for the full suite of REE’s. Once the results have been received and processed, the next phase of exploration will focus on refining the REE target area in advance of drilling at Wolfe Basin. At present the only assay data available is on the far western edge of the 7.5km long geophysical anomaly. Assay results from the programme should be available to be processed and reported in ~four weeks.
We are pushing ahead quickly with REE’s focussed exploration at Wolfe Basin with the goal of generating a clear set of drill targets for testing later this year. Sipa has a strong pipeline of exploration activity planned over the coming months across its key projects and we look forward to providing regular updates as activity advances,” Managing Director, Pip Darvall, said.