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.
Ironbark Zinc: drilling results show continuation of mineralisation at Mestersvig in Greenland
Ironbark Zinc (ASX: IBG) has received high grade base metal drilling results from the historic Blyklippen lead-zinc mine of 1.1 metres at 12.2% zinc and lead, and 8.2 grams per tonne (g/t) silver from 263 metres.
This is significant because it proves a down dip extension of over 200 metres for mineralisation below the historical workings.
The Blyklippen base metal mine was operated between 1956 and 1962 and produced 544,600 tonnes of high grade ore in excess of 20% zinc and lead for a recovered grade of 9.9% zinc and 9.3% lead.
Unmined drill zones at the mine returned up to 5.2 metres at 18.5% zinc and lead from 40 metres. Blyklippen has been estimated to have a six year mine life at plus 12% lead.
Managing director Jonathan Downes told Proactive Investors today there is about 22 recorded veins with high grade mineralisation at the surface and only one has been mined and one other has been extensively drilled.
"The one that has been extensively drilled, we threw a few holes into and we got some good high grade intersections in that, and likewise we did some deep drilling underneath the mine vein and found that continued," he said.
Ironbark targeted deeper extensions and along strike to the south approximately 350 metres below surface (130-150 level) and has intercepted a blind continuation of the north-trending mineralised structure as exploited in the Blyklippen mine.
The company drilled three diamond holes and all intersected the mineralised structure. Further drilling is warranted at Blyklippen to define the extent of the high grade.
Ironbark also conducted a three hole diamond drilling program at the Sortebjerg prospect. The drilling targeted extensions of observed base metal mineralisation hosted in steeply dipping, north-trending fault zones.
Drilling was successful and all three drill holes intersected zinc, lead and silver mineralisation
The Blyklippen mine is part of the Mestersvig Project in Greenland where Ironbark is also conducting regional exploration, which has delivered highlight intersections of 2.5 metres at 8.9% zinc and lead, and 2g/t silver, as well as 1 metre at 17.3% zinc and lead, and 4g/t silver.
Ironbark is encouraged by the results and is planning further exploration work for 2012.
Downes said the recent drilling results support the case for exploration activity in the other 20 veins.
"It is typically very high grade and quite continuous mineralisation so this drill season has enhanced the value of the property a great deal," he said.
