Ironbark Zinc Ltd completes site visits at Greenland zinc project
Ironbark Zinc Ltd 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.
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.
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, is Ironbark’s largest shareholder, and is joined on the register by the world’s largest zinc miner and marketer Glencore PLC.
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