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IRONBARK ZINC LIMITED

ASX: IBG

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Ironbark is listed on the Australian Securities Exchange (ASX:IBG) and specialises in base metal exploration and development in Greenland and Australia.

Ironbark seeks to build shareholder value through exploration and development of its projects and also seeks to actively expand the project base controlled by Ironbark. The management and board of Ironbark have extensive technical and corporate experience in the minerals sector.

Ironbark’s key focus is the Citronen Zinc-Lead deposit in Northern Greenland.

Citronen Zinc Project, Greenland

The Citronen Zinc Project (Project) represents one of the worlds largest undeveloped zinc resources. The project is located in northern Greenland, a self governed part of the Kingdom of Denmark and has a low level of sovereign risk.??Ironbark completed approximately 11,000m of diamond drilling at the Citronen Project in 2008 bringing the total metres drilled for the Project to 44,000m. The current resource (September 2008) for Citronen is:

• Global Resource - 101.7Mt @ 4.7% Zn + Pb at a 2% Zn cut-off
• Medium Grade - 56.0Mt @ 6.1% Zn + Pb at a 3.5% Zn cut-off with a
• Higher-grade core of - 22.6Mt @ 8.2% Zn + Pb at a 5% Zn cut-off

The mineralisation is considered to be of a SEDEX style zinc deposit and this model is potentially very large. The mineralisation starts from surface, is shallow, flat lying and adjacent to a deep water fjord that may provide near mine ship docking and loading opportunities.

Belara Project

The Belara Project is located within EL 6576 & EL6749. The project is located approximately 90km north of Orange. The main prospects within the Belara Project are the Belara and Native Bee historical mines. The Native Bee mine workings lie 1.6km to the south of the Belara workings along the same inferred sedimentary sequence.

• Current Resource: 1.0 million tonnes at 5.0% zinc, 0.4% copper, 1.5% lead, 0.3 g/t gold and 50 g/t silver (7.5% zinc equivalent) at a 4% zinc cutoff.
• Within a larger lower grade resource of: 3.8 million tonnes at 3.1% zinc, 0.4% copper, 1.0% lead, 0.2 g/t gold and 34 g/t silver (4.9% zinc equivalent) at a 1% zinc cutoff

The Captains Flat Project

The Captains Flat Projects is located 50km southeast of Canberra in New South Wales. Ironbark is earning up to 75% of the project through meeting statutory exploration expenditure and has the ability to progress the project to mining should a positive feasibility study be produced. The license is held by Monaro Mining N.L. The Project area covers an area of approximately 239 square kilometres surrounding the old mining town of Captains Flat, which is home to the Historic Lake George Mine.

Lake George Mine was first worked during the period of 1882 to 1899 for a recorded production of 26.7 tonnes of silver, 16,100 ounces of gold and 3,841 tonnes of copper from 114,560 tonnes of ore. The Lake George Mine was reopened in 1937 and up to the date of its closure in 1962 produced 406,418 tonnes of zinc, 243,851 tonnes of lead, 27,230 tonnes of copper, 7.4 million ounces of silver and 220,000 ounces of gold from over four million tonnes of ore.

At this mine, three elongated lode shoots that are conformable with the Elliots, Central and Keatings shale lenses were mined. The base-metal lodes reportedly had a total outcropping strike length of approximately 800 metres, extended to a depth of 600 metres and were up to 20 metres thick. They consisted of massive banded pyrite, sphalerite, galena and chalcopyrite, in decreasing order of abundance, with minor tennantite, arsenopyrite and gold. There are several prospects within the project, including Vanderbilt Hill, Anembo, Roaches and Jerangle, that exhibit similar geology to the Lake George area and some encouraging exploration results have been achieved and not followed up

Mine For

zinc, lead, copper, gold

Location of operation(s)

Greenland, New South Wales

Address

Level 1 , 350 Hay Street
SUBIACO, WA, AUSTRALIA

Phone

(08) 6461 6350

Email

Website


Last Updated

1/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.