Ironbark Zinc Limited (ASX:IBG) has completed a HeliSAM electromagnetic (EM) survey over the large-scale Jerangle prospect at its Captains Flat base metals project in NSW.
The survey was financed by Ironbark and Glencore PLC (LON:GLEN) subsidiary New South Wales Base Metals on a 50:50 basis, which reflects the project ownership.
Anomalies in several loops
The results show anomalies in several adjacent loops, indicating the presence of a large, broad bedrock anomaly.
Loop 5 demonstrates a clear broader bedrock anomaly apparent on the northeast section.
“Emerging leader”
Ironbark Zinc managing director Jonathan Downes said: “Ironbark is an emerging leader amongst Australia’s mineral resource companies dedicated to the development of its major base metal mining operation in Greenland, the world-class Citronen project and the acquisition of quality base metal projects.”
READ: Ironbark Zinc and Glencore subsidiary begin exploration at Captains Flat base metals project
The drilling program is the first large scale modern geophysical survey over the Captains Flat project area.
The historical Lake George Mine at Captains Flat
Some of the other identified targets that warrant follow up include:
- Lake George - The mine produced around 4 million tonnes of ore at 10% zinc, 6% lead, 0.7% copper, 1.8 g/t gold 55 g/t silver with mineralisation open at depth;
- Vanderbilt Hill - The prospect is east of Lake George and has returned results such as 3.9 metres at 10% zinc and 5.3% lead; and
- Anembo prospect - This is 12 kilometres north of the Jerangle prospect with historical drilling returning 3 metres at 6.9% zinc, 5.5% lead, 21 g/t silver and 2 g/t gold.
Final report to be released
The two companies have shared previous exploration success at the Jerangle prospect and look forward to continuing their work on this underexplored high-grade base metals province.
The interpretation of the data is continuing with a final report with drill targets expected shortly.
READ: Ironbark Zinc expands Citronen project area in Greenland
Ironbark also applied for new licences to expand its Citronen Zinc Project in Greenland, which covers the identified areas that are considered prospective and the trend of the Western Gossans.
The company now controls the district and is well positioned to determine the scale of the project in the future.
- Jessica Cummins