Sipa Resources Limited (ASX:SRI) Acquires 100% Ownership of Barbwire Terrace Project
Ownership Acquisition
Sipa Resources Limited (ASX: SRI) has successfully acquired 100% ownership of the Barbwire Terrace Base Metal Project. Previously under a 50:50 joint venture with Buru Energy Limited, Sipa has agreed to purchase Buru’s share for a consideration of a 0.6% Net Smelter Return royalty.
Future Exploration Plans
The Barbwire Terrace Project, located in the Kimberley region of Western Australia, is targeting Mississippi Valley style zinc-lead-silver deposits. The company plans to refine and prioritise several remaining targets at the project as part of its ongoing portfolio review and business development strategy. Sipa’s Managing Director, Andrew Muir, expressed gratitude towards Buru for their support during the joint venture, noting the successful exploration rounds conducted, including proof of concept diamond drilling.
Strategic Significance
Muir highlighted that recent work at the Barbwire Terrace has confirmed the presence of multiple prospective targets that Sipa intends to explore further. The acquisition marks a significant step in Sipa’s strategy to enhance its mineral portfolio and exploration capabilities.
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