Next phase of exploration underway at Wolfe Basin to test rare earth elements

The next phase of exploration is underway at Sipa Resources’ (ASX:SRI) Wolf Basin project to test a rare earth elements (REE) target area.

Initial mapping and surface sampling has now been completed with a focus on peak thorium anomalies that are coincident with a magnetic anomaly.

The historic drillhole CRA026 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 REEs and this is a likely source rock for the REEs observed in the immediately overlying and enriched weathered material.

All samples have been sent for assay for the full suite of REEs, and 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.

Managing director Pip Darvall commented on the work completed so far.

“We are pushing ahead quickly with REEs focussed exploration at Wolfe Basin with the goal of generating a clear set of drill target for testing later this year,” he said.

“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.”

Assays are expected to be processed and reported on in around four weeks.