Ironbark Zinc (ASX:IBG) has had one of its major shareholders increase its stake through a series of on-market trades.
The shareholding, which now totals over 42 million shares is held across two private companies, Toronga Pty Ltd and Dulyne Pty Ltd.
The two private companies have lifted their combined stake to 6.59% from the previous interest of 5%.
Ironbark is poised to begin the development process at one of the world’s largest zinc deposits, the 100% owned Citronen Project in Greenland.
Citronen is adjacent to water and consists of simple, flat and continuous ore zones that form a large-scale zinc and lead JORC 2012 resource.
The resource stands at 132 million tonnes grading 4.4% zinc and lead, equivalent to 12.8 billion pounds of zinc making it a genuine tier one base metal resource.
Germanium recently identified, adding further value
Recently, germanium was identified in the Citronen ore.
Notably, zinc smelters are able to extract and pay for the germanium from zinc concentrate with no changes required to the Citronen process flow-sheet.