Proactiveinvestors Australia

Ironbark has acquired three projects in northern and eastern Greenland targeting base metals - the world class Citronen Zinc-Lead deposit, the Mestersvig Project containing the historic Blyklippen Lead-Zinc mine and the prospective Washington Land Project.

Citronen Project
Washington Land Project
Mestersvig Project

Greenland geology ranges from the Archaean to present. Ironbark has focused primarily on projects within the Paleozoic Franklandian Basin in northern Greenland. This sequence of Ordovician (~400Ma.) rocks spans roughly 2,000km, running E-W across northern Greenland into northern Canada. This stratigraphic sequence is well mineralised with base metals (zinc-lead-silver) and hosts several Mississippi Valley type (MVT) and SEDEX type deposits.

Further geological descriptions can be obtained from the Greenlandic Bureau of Minerals and Petroleum website.

Citronen

The Citronen Zinc-Lead Project represents one of the world’s largest undeveloped zinc-lead resources with a resource in excess of 13 billion pounds of contained zinc and lead metal. The project is located in northern Greenland, a self-governed part of the Kingdom of Denmark and has a low level of sovereign risk. To date in excess of 67,000m of diamond drilling has been completed at the Citronen Project. The current resource (January 2012) for Citronen is:

Medium grade resource of:



Using Ordinary Kriging interpolation and reported at a 3.5% Zn cut-off
Figures rounded to one decimal place

within a larger resource of:

Using Ordinary Kriging interpolation and reported at a 2.0% Zn cut-off
Figures rounded to one decimal place

For further information relating to the resource estimate, please see the ASX Announcement #132- Resource Upgrade at Citronen on the Investor Relations page.



Citronen is a sedimentary exhalative (SEDEX) deposit- a potentially very large type of deposit. The mineralisation at Citronen starts from surface, is flat lying and is currently open in almost all directions. The deposit is adjacent to a deep water fjord that may provide near mine ship docking and loading opportunities.

Washington Land   

The Washington Land Project in North West Greenland contains the Cass Fjord base and precious metals prospect which was discovered in 1999 during helicopter reconnaissance. Zinc, lead and barium mineralisation was found at surface along a lineament. A single diamond hole was drilled vertically into one of the mineralised areas shortly after discovery and returned 1.2m @ 8.4% Zn and 98 g/t Ag from 2m depth. No follow up work was performed until Ironbark drilled the prospect in August 2011. Eleven widely spaced holes over a 2.7km strike length were drilled and all were mineralised with intercepts at depth.

Significant intercepts from the program include;

CAS002: 9.5m @ 4.9% Zn+Pb &65g/t Ag from 17.5m and
CAS011: 17.0m @ 4.1% Zn+Pb & 23g/t Ag from 48.0m

Mineralisation and drill intercepts at the Cass Fjord Prospect

Mestersvig      

The Mestersvig Base Metal Project in eastern Greenland comprises two 100% Ironbark owned tenements which contain the historic high-grade Blyklippen Zinc-Lead Mine and the outcropping Sortebjerg Zinc-Lead Prospect.

Blyklippen Mine

The Blyklippen base metal mine was operated between 1956 and 1962 and produced 544,600 tonnes of high-grade ore in excess of 20% zinc + lead for a recovered grade of 9.9% zinc and 9.3% lead. Previous explorers identified additional mineralised structures near the main mine and the project area is considered prospective. During 2011 exploration, Ironbark drilled under the historic mine to test for deep extensions. Three diamond holes were drilled and all intersected a mineralised structure at depth as shown in the figure below.

 


Plan and Long section showing the Blyklippen mine and Ironbark drilling

Sortebjerg

The Sortebjerg prospect is located 8km south of the Blyklippen mine on the same north-trending fault zone. During the 1950’s a 16 hole drilling program was conducted in the area that returned significant zinc and lead grades. During their 2011 exploration season, Ironbark followed up on these results and drilled three diamond holes that returned significant intercepts including 2.5m @ 8.9% Zn+Pb and 1.0m @ 17.3% Zn+Pb & 4 g/t Ag.



Location plan of mapped fault zones and base metal mineralisation within the Blyklippen/Sortebjerg area

Australian Projects    

Ironbark’s mineral assets in Australia comprise three base and precious metal projects in New south Wales. The Captains Flat Project contains the historic Lake George Mine and together with the adjoining Peakview project, which contains several base and precious metal prospects, covers a strike length of over 80km of prospective geology. The Belara Project hosts 2 historic base and precious metal mines. In 2007 Ironbark released a maiden resource at the Belara Deposit after successful drilling in 2006.

Belara Project
Captains Flat Project
Peakview Project



Location of Ironbark’s Projects in New South Wales
 
Belara

The Belara Base and Precious Metal Project is located 100km north-east of Orange in New South Wales in the northern end of the Hill End Trough.  Historic mining, predominantly for copper, was conducted at the Belara and Native Bee deposits from 1885-1907 and 1906-1914 respectively.

The prospects were drilled in the late 1960’s with encouraging results, but not re-visited until Ironbark’s drilling program in 2006. Significant drilling intercepts from Ironbark’s drilling include;

4.0m @ 3.7% Zn, 1.13% Pb, 0.71% Cu & 41g/t Ag from 81.0m,
1.5m @ 7.0% Zn, 2.0% Pb, 0.1% Cu & 61g/t Ag from 132.0m and
8.0m @ 4.2% Zn, 1.8% Pb, 0.5% Cu, 62g/t Ag & 0.5g/t Au from 299.0m

The success of the drilling allowed Ironbark to produce a maiden resource at the Belara Project of 2,545,049t @ 3.75% Zn, 1.10% Pb, 0.40% Cu & 39.61 g/t Ag.




Significant drilling intercepts at the Belara Deposit


Captains Flat     

The Captains Flat Project is located 50km southeast of Canberra in New South Wales and covers an area of over 240 square kilometres surrounding the old mining town of Captains Flat. The town is home to the historic Lake George Mine which was first worked during the period of 1882 to 1899 for a recorded production of 26.7 tonnes of silver, 16,100 ounces of gold and 3,841 tonnes of copper from 114,560 tonnes of ore.  It was reopened in 1937 and up to the date of its closure in 1962 produced 406,418 tonnes of zinc, 243,851 tonnes of lead, 27,230 tonnes of copper, 7.4 million ounces of silver and 220,000 ounces of gold from over four million tonnes of ore. The mine is hosted in a narrow north-trending suite of volcanic rocks which extends down into Ironbark’s Peakview Project. Several prospects, including, Vanderbilt Hill, Roaches, Anembo and Jerangle, are present along this faulted suite of rocks that have not to date been followed up.

In June 2011, Ironbark entered into a Joint Venture Agreement in the Project with NSW Base Metals Pty Ltd and Forge Resources Limited in which NSW Base Metals is Project Manager. Since the formation of the Joint Venture, a single deep diamond drill hole at the Jerangle Prospect was drilled and returned several significant intercepts including;

4.4m @ 12.05% Zn from 686.8m
3.3m @ 3.97% Zn & 2.67% Pb from 394.4m
1.4m @ 1.21% Cu from 111.0m




Captains Flat Tenure & Prospects

Lake George Mine

The high-grade Lake George Mine and remains prospective for remnant ore at current base metal prices as well as at depth where results such as 1.22m @ 12.4% Zn, 5.4% Pb were returned over a strike length of at least 300 metres. Mineralisation is open at depth and may represent possible repeats of the historically mined areas.



Peakview    

The Peakview Project is located 25km north east of Cooma in New South Wales and contains several base and precious metal prospects. A drilling program at Peakview in the early 1980’s defined a narrow high grade zinc, lead, copper & silver lode that left the mineralisation open in all directions and was never followed up.

Ironbark completed a drilling program in late 2011 that confirmed the mineralisation at Peakview continued along strike and down dip. Significant intercepts from the project include;

Historic:

PVD03: 2.1m @ 11.65% Zn, 5.64% Pb, 1.93% Cu & 103g/t Ag
PVD05: 0.5m @ 15.6% Zn, 8.5% Pb, 0.92% Cu & 90g/t Ag
PVD13: 1.45m @ 5.96% Zn, 1.86% Pb, 0.76% Cu & 35g/t Ag

2011 Ironbark Program:

PVI003: 3.2m @ 7.5% Zn + Pb & 2.7% Cu
PVI006: 5.6m @ 4.4% Zn + Pb, 0.8% Cu & 256g/t Ag
PVI008 1.0m @ 25.8% Zn + Pb, 1.0% Cu & 119g/t Ag




Drilling Results from the Peakview Prospect

Jonathan Charles Downes – Managing Director
B.Sc Geol, MAIG

Jonathan has over 18 years experience in the minerals industry and has worked in various geological and corporate capacities. Jonathan has experience in nickel, gold and base metals and has been intimately involved with numerous private and public capital raisings. He was a founding director of Hibernia Gold (now Moly Mines Limited) and Siberia Mining Corporation Limited (Siberia) (which has now merged with Monarch Resources Limited). Jonathan was an Executive director of Siberia and is currently a Non-Executive director of Graynic Metals Limited.

Adrian Paul Byass – Executive Technical Director
B.Sc Hon (Geol), B.Econ, FSEG, MAIG

Adrian has over 18 years experience in the mining and minerals industry. This experience has principally been gained through mining, resource estimation, and mine development roles for several gold and nickel mining and exploration companies. Through his experience in resource estimation and professional association membership, Adrian is a Competent Person for reporting to the ASX for certain minerals. Adrian has also gained experience in corporate finance and financial modelling during his employment with publicly listed mining companies. Adrian was a founder of Siberia (which has now merged with Monarch Resources Limited) and Hibernia Gold (now Moly Mines Limited).

Gregory Clyde Campbell – Director of Engineering
BE (Chem) Hons

Gregory has 19 years engineering experience across Australia primarily in the iron industry. His experience spans from process and chemical engineering, operating, marketing to financial analysis of projects in the metals industry. This experience has been gained in various capacities including eight years with BHP Limited in a range of engineering and technical roles, eight years in senior engineer consultancy roles with Aker Kvaerner and Promet Engineers and process engineering work for Ausmelt Ltd.

Rob Orr - Chief Financial Officer
B Bus Acc, CA

Rob is a Chartered Accountant who commenced working initially for Coopers & Lybrand in Perth. He has subsequently gained a significant level of commercial experience in the roles of Chief Financial Officer and Company Secretary for a number of ASX listed companies, with over 20 years experience in public practise and commerce. He has worked extensively in the resource industry with experience in capital raisings, project development, contract negotiation and mining operations.

Chris James - Non Executive Director

Chris was appointed the Group Manager of Corporate Development for Nyrstar in 2010, and has led the acquisitions of Farallon Mining and Breakwater Resources. He joined the group in 2002, and his background includes mining and metals operations, strategy, business improvement and investor relations. Chris holds a Bachelor of Science and Engineering (Mechanical) from Monash University, and an Executive MBA from London Business School.

Peter Duncombe Bennetto- Non Executive Director

Peter has over 30 experience in banking and investment. He has had deep involvement in capital, currency and commodity markets with Societe Generale and Banque Indosuez. Peter has held company director positions in exploration, mining and manufacturing companies listed on the ASX since 1990. Peter was also a founding director of Anaconda Nickel Ltd.

John McConnell – Non Executive Director
B. Eng (Mining) MBA

John is a Canadian mining engineer with a wealth of experience in developing and operating base metal and precious mineral mining operations in the Arctic. John has more than 30 years of mining experience including exploration, engineering, environmental assessment and permitting, construction and operations. Recently, John was President and CEO of Western Keltic Mines until it was acquired by Sherwood Copper. Prior to that, he was Vice President – Northwest Territories Projects for De Beers Canada where he was primarily responsible for the permitting and development of the Snap Lake Diamond Mine. His experience also includes 12 years with Breakwater Resources Ltd / Nanisivik Mines Ltd in operations at the Nanisivik Zinc and Lead Mine on the northern tip of Baffin Island within the Arctic Circle. In addition to this, Mr McConnell spent six years with Strathcona Mineral Services Ltd. where his work included engineering, feasibility studies and project development. John is currently Executive Vice President and Director of Victoria Gold Corp., a public company engaged in gold exploration and development, with projects in the Yukon, Nevada and Guyana.

David Kelly - Non Executive Director

David has over 9 years experience in finance positions in Australia as well as the United Kingdom, gaining senior roles in companies such as Deloitte Touche Tomatsu, Chartered Accountants and Royal & SunAlliance Insurance Group plc. David is a qualified Chartered Accountant, and is currently working for substantial shareholder, Glencore International.

Gary Comb - Non Executive Director

Gary is an engineer with over 25 years of experience in the Australian mining industry and has a strong track record in successfully commissioning and operating base metal mines. He was recently the Managing Director of Jabiru Metals Limited where he was successful in taking the Jaguar base metal project into production with the commissioning of the mine and processing plant taking place during the Global Financial Crises. Gary was previously the Chief Executive Officer of BGC Contracting Pty Ltd, the mining contracting arm of the West Australian construction group BGC Pty Ltd. He is currently also a director of Zenith Minerals Limited.”

No info available.