The project provides Sipa with 100 percent ownership of a belt-scale zinc opportunity at a time when zinc projects are scarce and zinc prices are on an upward trend.
Sipa Resources (SRI:ASX) has announced a significant addition to its exploration portfolio following an internally-generated exploration initiative targeting the Mississippi Valley Type zinc and lead potential of the Canning Basin of north-western Western Australia.
As highlighted in the press release:
- Major new MVT zinc-lead exploration project named “Barbwire Terrace” generated and secured by Sipa in WA’s Canning Basin, comprising a 3,824km2 tenement portfolio located 150km south-west of Fitzroy Crossing.
- Historical drilling in the 1990’s at the project confirmed zinc and lead anomalism over a strike length of more than 50km within the targeted carbonate host sequences.
- Most of the tenements are located ~120km south-west of the Lennard Shelf, one of the world’s premier MVT zinc-lead provinces with a known zinc-lead endowment of >200Mt and historical mines such as Cadjebut and Pillara operated by BHP and others in the 1980’s and 1990’s.
- Sipa’s strategy to discover more Lennard Shelf-type carbonate orebodies stems from the very pure deposit metallurgy, which produced clean, high grade concentrates which are in high demand worldwide.
- The style and extent of mineralization identified by previous explorers provides strong evidence that similar mineralizing processes that formed the Lennard Shelf deposits have been active on the Barbwire terrace.
- The project provides Sipa with 100 percent ownership of a belt-scale zinc opportunity at a time when zinc projects are scarce and zinc prices are on an upward trend.