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Ironbark Zinc director Danny Segman shows faith in the company through purchase of shares

The company is focused on improving its mine plan, processing methods and environmental, social governance at its zinc-lead project in Greenland.

Ironbark Zinc Ltd - Ironbark Zincs' director Danny Segman shows faith in the company through purchase of shares
70% of the project’s offtake has been pre-sold to Glencore and Nyrstar

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.

Quick facts: Ironbark Zinc Ltd

Price: 0.009 AUD

ASX:IBG
Market: ASX
Market Cap: $8.28 m
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