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Market: ASX
Sector: General Mining
EPIC: IBG
Latest Price: A$0.16  (0,00%)
52-week High: A$0.34
52-week Low: A$0.15
Market Cap: A$58.94M
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Ironbark Zinc Limited
www.ironbark.gl

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.

Full Ironbark Zinc Limited profile here
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Ironbark Zinc open pit inventory revised up at Citronen in Greenland

15th Sep 2010, 9:05 am

Western Australia based but Greenland focused Ironbark Zinc (ASX: IBG) has revised up the open pit mineable inventory at the Citronen Base Metal Project in Greenland.

In an engineering update, Ironbark said preliminary open pit mineable inventory may now represent 10 million tonnes of mineralised feed, and 17 million tonnes of waste, using an unconstrained whittle run representing a significant increase in potential minable mineral feed.

Drill results from Citronen released last week include: 14.9m at 5.6 zinc from 11 metres, 10m at 12.5% zinc from 92.0 metres, 3m at 10% zinc from 248.3 metres and 11.45m at 5.3% zinc from 259.5 metres. 

The ore to waste ratio in the first year is a very low at 1:1.1.

The overall tonnage may be reduced to account for the seasonal river which cuts through the western area of the open pit.

The mineralisation remains drill constrained and will be re-evaluated following the final resource estimate to be conducted later this year once a final resource estimation has been made incorporating the 2009 and 2010 drilling data.

The cost for the open pit mining is estimated at US$ 2.70/tonne moved. Mining recovery is estimated at 97%, with a dilution factor of 5.7%. Operating bench heights will be 5 metres mined in 2 x 3 metre flitches.

Underground mining methods will use; 2 metre to 14 metre vertical ore face heights - use multi bench room and pillar, and 14 metre to 28 metre ore face - vertical long hole stoping.

Current JORC compliant resource for Citronen is 55.8 million tonnes at 6.1% zinc (Zn) + lead (Pb).

Ironbark is aiming to have the feasibility Study completed towards the end of 2010, aimed at progressing the Citronen project toward production.

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