Opportunity to Acquire a Highly Prospective, Shallow Copper-Gold Project Located in Western Australia

Sipa Resources Limited (ASX: SRI) is seeking expressions of interest for its 100% owned Paterson North Copper-Gold Project (the Project) located in Western Australia. 

The Project spans over 1,000km² across five highly prospective (5) tenements in the Paterson province.

The Paterson region is highly prospective and home to a number of large-scale deposits including:

• Winu (Rio Tinto) 7.9Moz Au, 2.9Mt Cu;
• Cailbre & Magnum (Rio Tinto) 2.5Moz Au, 115kt Cu;
• Telfer (Greatland) 32Moz Au, 1Mt Cu;
• Havieron (Greatland) 7Moz Au, 275 kt Cu;
• Minyari Dome (Antipa) 2.9Moz AuEq;

The opportunity to acquire a land package the size of Paterson North given the surrounding majors and recent levels of corporate activity in the area is particularly rare.

Between August 2020 and February 2024, the Project was explored under a farm-in and joint venture agreement with Rio Tinto Exploration (RTX). Sipa acquired 100% of the Project in 2024.

The majority of drilling to date has been completed at targeting mineralisation at Obelisk with 112 of 189 holes drilled to date. There has been very limited to no systematic drilling across the other area of the Project.

Key investment highlights include:

• Five tenements with exploration licenses covering +1,000km²;
• Strong regional copper and gold presence;
• Historically drilled with surveys completed and heritage clearance received to test targets;
• Shallow cover with approximately 70% of the area under 150m of cover and 50% under than 100m;
• Significant regional M&A with Greatland acquiring 100% of Telfer and consolidating 100% of Havieron;