Sipa's positve exploration results at Panorama project

West Perth-headquartered broad-based resources explorer Sipa Resources has announced positive results from its most recent drilling exploration programme.

Drilling took place at its Kangaroo Caves deposit in the Pilbara region of Western Australia, which is located within the Sipa-owned Panorama Base Metals exploration project.

The Panorama project is subject to a farm-in and joint venture with CBH Resources Ltd, where Sipa is the manager and CBH has the capacity to earn a 60 per cent interest by spending $4 million on exploration by 2009.

Results of the drilling programme show that the best intersections are near the surface and indicate that the deposit may be significantly wider than previously interpreted.

The results also highlighted the potential for an open cut resource in the upper part of the shallow dipping massive sulphide system.

More drilling to potentially significantly extend the deposit is now required to be undertaken.