Sipa Resources Limited advised that it has secured all the necessary approvals, and a drill rig, to shortly commence testing of lithium targets at its 100%-owned Skeleton Rocks project. Results from an aircore program conducted in March 2022 confirmed the existence of anomalous lithium in previously untested greenstone units. As a result, Sipa undertook further analysis of the complete data set, both internally and via external consultants.

Those reviews highlighted target areas where elevated lithium and other pegmatite-associated elements (caesium and rubidium) form coherent halos of 4-5 times background levels on the margins of the greenstone units, often in association with quartz veining. These anomalous results may indicate the presence of nearby lithium-bearing pegmatites and will be tested via a follow up drill program commencing in the coming days. The planned reverse circulation program will comprise a series of deeper holes angled directly under the geochemical anomalies.

Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland lithium project currently being developed as part of a joint venture between Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM).