Sipa’s Barbwire Terrace Base Metals Project, south-east of Broome, WA, covers the southern margin of the Fitzroy Trough where historic drilling confirmed the potential for Mississippi Valley Type (‘MVT’) base-metal mineralisation, similar to the well-known Lennard Shelf deposits located along the northern margin of the trough.
MVT mineralisation of the type mined on the Lennard Shelf has historically produced high purity concentrates highly sought after by smelters, making this a high value exploration target.
After refining target areas for the project in September 2020, Sipa announced a partnership with Buru Energy (ASX: BRU), an oil and gas explorer with interests in the region. Buru has sophisticated basin models covering the Fitzroy Trough which will help to define areas of highest potential for base metal mineralisation. The companies have formed a Joint Venture to fund the first $250,000 of on-ground exploration activities and Sipa to be the operator.
Planning is currently underway for heritage surveys ahead of planned gravity surveys and drilling programs.