A HeliSAM electromagnetic (EM) survey has commenced over the proven large-scale Jerangle Prospect at Captains Flat.
This work has been financed in advance jointly by Ironbark and New South Wales Base Metals (NSW BM – a subsidiary of Glencore) on a 50:50 basis (which is the same as the ownership).
Importantly, this program will provide the first large-scale modern geophysical survey over the Captains Flat project area.
It is worth noting that historical drilling has returned high-grade copper and zinc drill intercepts over numerous prospects at Captains Flat.
Drilling by Ironbark also returned high-grade base metal results that warrant follow-up. Some of the identified targets that warrant follow up include:
The Jerangle Prospect is at the southern end of the project area and drilling over a strike length of 1.5 kilometres has returned drill intercepts assaying up to 5.25% copper.
Recent drilling has returned results including 4.4 metres at 12.05% zinc and 5 metres at 4.6% zinc+lead, 0.13% copper and 4.2 g/t silver.
Lake George Mine
The high-grade Lake George Mine produced about 4 million tonnes of ore at 10% zinc, 6% lead, 0.7% copper, 1.8 g/t gold and 55 g/t silver and remains prospective for remnant ore at current base metal prices.
Mineralisation is open at depth and may represent possible repeats of the historically mined areas.
The Vanderbilt Hill prospect is situated east of the Lake George Mine and drilling has returned results such as 3.9 metres at 10% zinc, 5.3% lead.
The prospect is considered to be highly prospective with open ended historical high-grade drill results yet to be followed up.
The Anembo Prospect is 12 kilometres north of the Jerangle prospect. Historical drilling returned 3 metres at 6.9% zinc, 5.5% lead, 21 g/t silver and 2 g/t gold which has not been followed up.