Sipa Resources (ASX:SRI) Focuses on Barbwire Terrace’s Lead-Zinc-Silver Potential

Highlights   

• Sipa Resources is finalizing gravity survey data for the Barbwire Terrace project.  
• Exploration targets Mississippi Valley-style lead-zinc-silver deposits.  
• Joint venture partner Buru Energy plans structural changes impacting the project.  

Sipa Resources (ASX:SRI) anticipates receiving crucial data from a ground gravity survey conducted at the Barbwire Terrace Lead-Zinc-Silver Project in northern Western Australia. These results, expected in the coming weeks, will guide the determination of drilling locations for the project, which is operated as a joint venture with Buru Energy (ASX:BRU).   

The Barbwire Terrace project targets Mississippi Valley-style zinc-lead-silver deposits, drawing comparisons to the well-known Lennard Shelf deposits found in the Fitzroy Trough region. The latest survey focused on improving the geological understanding of the area, particularly the Fenton Fault and its associated splays, which are believed to be vital pathways for mineral deposition.   

Progress at Barbwire Terrace   

Drilling conducted by the joint venture in 2022 confirmed the potential of the project, with each hole intersecting the Pillara Limestone, known to host base metal sulphides and analogous to the Lennard Shelf deposits. The recent gravity survey aimed to provide detailed data for the southeastern portion of the project area, offering new insights into fault structures critical for mineral exploration.   

Survey data is being analyzed by structural and gravity experts, and the results will play a significant role in shaping the next phase of drilling. The company remains optimistic about advancing this exploration phase, which is pivotal to unlocking Barbwire Terrace’s mineral potential.   

Changes in Joint Venture Structure   

Buru Energy, Sipa’s joint venture partner, is undergoing structural adjustments to focus on its Rafael Project. This shift involves divesting subsidiary companies, including Battmin, which handles battery minerals exploration. Despite these changes, Sipa Resources has emphasized its commitment to collaborating with Buru Energy to facilitate a smooth transition and maintain progress at Barbwire Terrace.   

Other Projects in Focus   

Beyond Barbwire Terrace, Sipa Resources has an active exploration schedule for the remainder of the year. At Paterson North in the Pilbara, the company is pursuing copper-gold mineralization targets, while Skeleton Rocks in the Southern Cross region is being explored for its gold, lithium, and nickel-copper-platinum group element (PGE) potential.   

Additionally, the company continues to assess its project portfolio, exploring opportunities for acquisitions, joint ventures, and divestments. These strategic initiatives underline its ambition to solidify its position in Western Australia’s resource exploration sector.