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Ironbark Zinc progressing development and financing at Citronen Zinc Project

The company is working with an advisor to structure and secure project financing.

zinc on periodic table
A Perth broker has a target price of 26 cents for the company

Ironbark Zinc Ltd (ASX:IBG) remains focused on the development of its world-class 100% owned Citronen Zinc Project in Greenland.

The company will take a ship to Citronen in August this year to transport essential equipment and fuel to site.

Site activities are planned to commence this year including a portal and decline drive towards the first underground ore source, the Beach Zone.

READ: Ironbark Zinc’s major shareholder increases stake on-market

The Citronen project hosts one of the world’s largest zinc deposits and is being advanced during a period of rising zinc prices.

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.

Well-funded to pursue activities

Ironbark held a cash position at the end of the March 2018 quarter of about $6 million with no debt.

This places Ironbark in a strong position to aggressively progress the financing and development activities.

Quick facts: Ironbark Zinc Ltd

Price: 0.008 AUD

ASX:IBG
Market: ASX
Market Cap: $7.36 m
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Watch

Ironbark Zinc demonstrates 'proof of concept that derisks the project in a...

Jonathan Downes, managing director of Ironbark Zinc Ltd (ASX:IBG), speaks to Proactive Investors about development of the Citronen Zinc-Lead Project in northern Greenland, as the emerging producer announces hitting the milestone of demonstrating shipping access. A mining services...

on 3/9/18

2 min read