Sipa Resources

Website: Sipa.com.au
Primary ticker: ASX:SRI
Stage of development: Exploration
Primary minerals: Nickel, Copper, Gold, Base Metals
Project to promote: Kitgum Pader nickel sulphide discovery

Live financials

Sipa aims to discover significant new gold-copper and base metal deposits in emerging mineral provinces with world-class potential.
In Uganda, the Kitgum-Pader Base Metals Project contains an intrusive-hosted nickel-copper sulphide discovery at Akelikongo, one of the most significant recent nickel sulphide discoveries globally. The project is in JV with Rio Tinto who can earn up to 75% of the project by expenditure of US$59M.
In Australia, Sipa is exploring the Paterson North Copper Gold Project where polymetallic intrusive related mineralisation was intersected at the Obelisk prospect. The project sits in a globally recognized, strongly endowed and highly prospective mineral belt.

Management Profile

Pip Darvall, Managing Director

Pip Darvall Managing Director (commencing early 2020). Pip is an accomplished and highly qualified geologist with an impressive track records across a range of commodities, both in Australia and overseas. He has most recently served as Managing Director of ASX-listed explorer Jindalee Resources Limited where his accomplishments include identifying and acquiring a significant new lithium project in the United States. Previously he was Senior Geologist, then Exploration Manager for Atlas Iron and oversaw a rapid growth in Atlas’ resource base from 2010 to 2014, before starting his own consultancy company specialising in resource project evaluation and management.


What is your rationale for attending 121 Mining Investment?

To inform investors of the progress at the Kitgum – Pader Base Metals project and meet investors who are interested in belt scale first mover exploration plays in very prospective districts


What recent news would you like to highlight to investors attending?

• Appointment of Pip Darvall as Managing Director 21 November 2019
• AGM presentation 21 November 2019
• Sipa Extends Obelisk copper gold footprint at Paterson North 15 November 2019
• Diamond drilling to recommence at Akelikongo 1 October 2019


What are your key goals for the next 3, 6 and 12 months?

3 Months:

• Complete review of 2019 exploration program at Paterson North including detailed analysis of airborne EM data.
• Analyse recently completed diamond drilling results from the Akelikongo Ni Cu sulphide intrusion down plunge.
• Continue R&D of in-house ultra fine fraction soil technique

6 Months:

• Further detailed ground geophysics before resumption of diamond drilling in 2020
• First pass exploration and data compilation over pool of generative projects in northern Australia.

 

12 Months:

Drill at least one potentially economic new drill intercept at one of our three projects.

Add to the project pipeline by internally generating new quality exploration projects.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Raising equity for greenfields exploration remains a significant challenge.
We are seeking to obtain JV partners who share our vision, understand the risk and have the financial capacity to advance greenfield projects.


In a sentence, what do you think makes your company such a compelling investment?

Sipa has a long track record of successful discovery. We have access to the brightest technical minds and the passion for exploration success.