Ironbark Zinc Limited (ASX:IBG) director Danny Segman has shown faith in the company through the purchase of shares in on-market transactions.
On March 24, 25 and 26 an entity in which Segman has a beneficial interest, Toronga Pty Ltd acquired 3.54 million shares for more than $18,400.
The number of indirect securities held after the change increased to 80.54 million shares.
Citronen project moves along development path
The company reported it was confident its 100%-owned Citronen Zinc-Lead Project in Greenland offers a rare scale and grade combination with a long mining life in a unique jurisdiction – and plans to make the most of it.
Ironbark considers Citronen the ‘jewel in the crown’ because the project has a 30-year mining lease and has 18 million tonnes at 8.24% zinc and lead% with 14 million tonnes in measured and indicated resources.
The high-grade zone is within a significantly larger resource of 132 million tonnes at 4.5% zinc and lead% with potential for further regional exploration.
Previous diamond drilling by the company over 67 kilometres resulted in 73% of holes hitting a minimum of 2 metres at 3.5% zinc - and many geophysical and structural targets remain untested.