Drilling recommences at Kangaroo Caves

Sipa Resources has announced that drilling has recommenced at the Kangaroo...

  Sipa Resources has announced that drilling has recommenced at the Kangaroo Caves Zinc-Copper Deposit, within the Panorama Exploration Project in the Pilbara Region of Western Australia. Approximately 1,000m of Reverse Circulation drilling in 5 holes is planned at Kangaroo Caves to attempt to extend the recently announced resource of 6.3 million tones grading 3.3% zinc and 0.5% copper, to the northwest and southeast, within open pit mining range of surface. After Kangaroo Caves it is intended to drill for the first time at the Nambucca Prospect, before moving to Anomaly 45, Man O’War and Breakers Prospects for some 1,500m, within a three to four week time constraint. It is expected that assay results for the remaining 165 holes of a 199 RAB/Aircore drilling program completed by Newmont at Sipa’s Woodline Gold and Base metals Project should be available for reporting late next week. The Panorama Exploration Project is subject to a Farm-in and Joint Venture Agreement between Sipa and CBH Resources Limited (CBH), whereby CBH may earn a 60% interest by exploration expenditure of $4 million by May 2010. Sipa is paid by CBH to manage exploration.