Sipa Resources (ASX:SRI) begins diamond drilling at Barbwire – The Market Herald

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  • Sipa Resources (SRI) begins diamond drilling on the Barbwire Terrace project in the Fitzroy Trough in WA
  • Company is drilling up to four holes to test base metal targets along the southwest margin of the Fitzroy pit
  • Prior to drilling, a review was undertaken of geological, geophysical and seismic data, and detailed gravity surveys were completed to finalize hole locations.
  • The drilling is supported by the Government of Western Australia’s Exploration Incentive Scheme and will be undertaken in a joint venture with Buru Energy
  • Sipa ends the day in the gloom with shares at 4 cents

Sipa Resources (SRI) has started diamond drilling on the Barbwire Terrace project in the Fitzroy Trough in Western Australia.

Up to four holes will be drilled to test base metal targets along the southwest edge of the Fitzroy pit.

Sipa will target Devonian age equivalents of the Pillara Formation, which hosts the base metal deposits of the Lennard Plateau, and Ordovician age equivalents of the Nita Formation, which host the base metal deposit of Admiral Bay.

Prior to the drilling program, a comprehensive review of geological, geophysical and seismic data was undertaken, and detailed gravity surveys were completed to finalize hole locations.

The drilling is supported by the Government of Western Australia’s Exploration Incentive Scheme and will be undertaken in a joint venture with Buru Energy (BRU).

“It’s great to start drilling at Barbwire, where we are testing large base metal targets,” said Managing Director Pip Darvall.

“While a mineralized intersection is obviously the first prize, success will also include intersecting the prospective stratigraphy in a structurally favorable location, which will help us head towards a deposit.”

Sipa ended the day in the gray with shares at 4 cents.

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