Early work points to high-grade zinc-lead for Buru, Sipa

On the spot x-ray fluorescence analysis on a third core pulled from Buru Energy and Sipa Resources' jointly held Barbwire Terrace project south-east of Broome in WA has unveiled broad intervals of disseminated base metal sulphides. The high-grade mineralisation ran up to 23.9 per cent zinc-lead and was joined by a suite of anomalous hits running north of one per cent.

The work follows x-ray fluorescence analysis on samples from two previous holes, that yielded grades as high as 19.8 per cent lead-zinc from 413.5 metres downhole.

Portable x-ray fluorescence, or “pXRF” analysis is a diagnostic tool commonly used in mineral exploration space to determine the chemical make-up of rocks, minerals, sediments and fluids using a handheld device.

The process is seen as the first step in understanding a sample's mineralogical composition and is typically followed by a lab-based review which dispenses a more precise set of results.

The joint venture says samples from the program’s first two holes have already been mobilised to an assay laboratory for more comprehensive testwork. The results are expected in about four weeks.

The earlier core will shortly be joined by samples from the third diamond hole that will soon be sent for a more detailed analysis.

Activity at the site forms part of a four-hole probe at the site that will see the JV partners assess a raft of base metal targets along the south-western margin of the Fitzroy Trough.

Buru and Sipa plan on plunging the fourth diamond hole once assay results from the previous bores have been received.

Despite the partnership’s results being preliminary, the duo says it is excited by the elevated pXRF readings and visible inclusions of zinc-lead sulphide mineralisation, speckled throughout its core.

Sipa Resources’ Managing Director, Pip Darvall said:“Base metal sulphides were encountered within the target limestone in every hole, clearly demonstrating the potential for the project to host a significant new mineralised province. The drill program has not only achieved ‘proof of concept’ but also delivered focus areas for future work around the second and third holes where significant thicknesses of disseminated sulphides were observed.”

Notably, the program’s drilling costs are co-funded by the West Australian government’s Exploration Incentive Scheme for up to $180,000.

Traditional oil and gas player Buru entered into an agreement with Sipa Resources to pick up a 50 per cent stake in the Barbwire Terrace project about two years ago as part of the company’s energy transition strategy.

Despite offloading a chunk of the asset, Sipa remains the project’s operator, leaving Buru to focus on its core energy operations whilst claiming a slice of its JV partner’s potential discoveries.

The project sits immediately south-east of Buru’s Canning Basin oil and gas leases, where the Perth-based company recently tabled its largest ever JV crude oil lift of about about $5.7 million.

Recent studies suggest zinc is projected to receive a healthy demand over the next decade due to its use in low carbon energy applications such as wind turbines and solar panels.

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