SRI - Sipa hones in on REE target area at Wolfe Basin
(NewsDirect)
Sipa Resources Ltd(ASX:SRI) managing director Pip Darvall tells Proactive reprocessedairborne geophysical data has added additional weight to the targetarea for rare earth element (REE) mineralisation previously identifiedon its 100%-owned Wolfe Basin Project. Wolfe Basin is in a prospectivelocation, within eight kilometres of the nearby Cummins Range REE andphosphate deposit in WA's northeast.
Elevated REE results in historic drillingcoincide with a magnetic anomaly trending onto Sipa’s tenure forabout 7.5 kilometres.
On July 4, the company said analysis of historical drill assaysfrom the project, revealedcoincident elevated REEs and a magnetic anomaly in close proximity tothe Cummins Range REE and phosphate deposit, owned by RareX Ltd.
“Based on the radiometric anomalies, weare even more confident of our new REE target area. Indications arethat we are likely to be able to quickly and cost-effectively surfacesample the target area to identify the most prospective areas forfuture drill testing in an area where no previous detailed work hasever been completed,” Darvall said.
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Proactive Investors
JonathanJackson
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