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Ironbark Zinc secures services of 30,000-tonne cargo ship

The company continues to advance discussions with potential project financiers.

 The Nunavik, a PC4 Class Ice Breaker Cargo Ship
The company plans to lease similar vessels to ship concentrate from a future mine

Ironbark Zinc Ltd (ASX:IBG) has secured the services of a 30,000-tonne cargo ship to sail to its flagship Citronen base metal project site in Greenland next month.

By sailing the ship to the project, Ironbark will validate a commercial shipping route to Citronen, one of the world’s largest undeveloped zinc projects.

Ironbark continues to remain heavily focused on securing project financing for Citronen.

READ:  Ironbark Zinc progressing development and financing at Citronen Zinc Project

The Citronen project’s data room has been open to potential investors for several months and continues to receive encouraging levels of interest from a broad range of investors.

Several customary site visits will be facilitated this year as part of the due diligence process for potential financiers.

Minor site works to commence

Ironbark will be commencing minor site works, fuel delivery and servicing of the plant and equipment on site.

Detailed portal and decline engineering plans have been drafted to allow Ironbark to commence activities this year including a portal and decline drive towards the first and highest grade underground ore source, the Beach Zone.

This will support the proposed 2019 construction and mining plans.

Simple, flat ore zones

The Citronen project hosts one of the world’s largest zinc deposits.

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.

Quick facts: Ironbark Zinc Ltd

Price: 0.008 AUD

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