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Ironbark Zinc Ltd

Ironbark Zinc completes site visits at Greenland zinc project, begins portal work

The inspections are a critical part of advancing finance discussions for the Citronen project.

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First cut of footprint to the Citronen portal

Ironbark Zinc Ltd (ASX:IBG) has concluded a series of site visits to its Citronen Zinc-Lead Project in Greenland.

Groups invited to the site included potential investors, private equity groups, bankers, equipment suppliers and mining operators.

The company said it was pleased with the calibre of groups represented and the interest that was expressed in financing discussions.

 

The company has also broken first ground on-site and has started preliminary site works for portal preparation at the decline.

Equipment on site has been serviced and is now prepared for large-scale early works beginning next year.

READ: Ironbark Zinc examines feasibility of extracting germanium at Citronen Zinc-Lead Project

Inspections comprised of an appraisal of drill core selected from the site’s library as well as viewing areas of outcropping mineralisation that occur over a 2-kilometre strike length.

One of the Ironbark’s key aims for visits was to impress upon investors the open-ended nature of the mineralisation and the exploration target of 302-347 million tonnes at 4.4-5% zinc-lead.

Visitors were also shown the proposed decline area, tailings dam and various other infrastructure plans.

Portal location against the outcropping rock dome

 

READ: Ironbark Zinc courts build-to-operate partners for Citronen mine as field operations begin

Ironbark’s September 2017 feasibility study for Citronen targeted a 14-year mine life where 180,000 tonnes a year of zinc and 25,000 tonnes per annum lead would be produced for the first five years.

The deposit has a mineral resource estimate of 70 million tonnes grading at 5.1% zinc and 0.5% lead.

The company’s resource is large and could see it become one of the top five zinc producers in the world.

Ironbark is also awaiting testing results for the treasured semiconductor of germanium but this element is not factored into the company’s resource.

The largest smelting house in the world, Switzerland-based Nyrstar NV (EPA:NYR) (FRA:3NY1) (OTCMKTS:NYRSY), is Ironbark’s largest shareholder, and is joined on the register by the world’s largest zinc miner and marketer Glencore PLC (LON:GLEN) (JSE:GLN) (OTCMKTS:GLNCY).

Quick facts: Ironbark Zinc Ltd

Price: $0.02

Market: ASX
Market Cap: $14.38 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