Future Work Expected To Lead To Re-assessment Of Base Case Mine Plan
Ironbark Zinc Limited (ASX:IBG) has released a JORC 2012 compliant Exploration Target of 40 Mt to 90 Mt at 5.0% to 7.1% zinc + lead combined with the known Mineral Resource, for the Citronen Project in Greenland.
The Citronen ore body is currently defined as one of the largest undeveloped zinc resources in the world and the Exploration Target of 40Mt to 90 Mt at 5.0% to 7.1% zinc + lead combined is based upon review of project drilling and the limited geophysical data available.
Managing Director, Michael Jardine, said a 3D Geological model of the project was used to assist in identifying prospective areas. Each area was systematically reviewed with tonnage ranges based on conceptual target sizes and area prospectivity.
“Ironbark has already defined a large Mineral Resource, which includes the maiden Ore Reserve declared earlier this year, at Citronen but we think this only scratches the surface of the deposit’s potential,” Mr Jardine said.
“The ore body is open in essentially every direction and the current Mineral Resource is only constrained by the drilling density to date.
“The field exploration programme underpinning the existing Mineral Resource took place a decade ago. Since then there have been significant advances in hard rock exploration techniques, especially in geophysics. The potential for further mine life extension via drilling in the targeted areas is considered highly likely.
“While all the usual caveats exist given this work is exploratory in nature at present and is not likely to take place until we have successfully mobilised to site, I am confident future exploration work will allow Ironbark to re-assess the base case mine plan released to the market in 2020.”
The Citronen ore body is currently defined as one of the largest undeveloped zinc resources in the world. The mineralisation was first discovered in 1993 from an extensive (+2km) zone of out-cropping sulphide mineralisation now known as the Discovery Zone. From this region, the drilling expanded out with the aid of some minor geophysics. Three hundred diamond drill holes for approximately 66,000m have been completed at the Project to date. The result was the definition of three deposits known as the Discovery, Beach and Esrum zones.
The Franklinian Basin which hosts Citronen is considered highly prospective for zinc mineralisation, it was also host to the now exhausted Polaris and Nanisivik mines in Canada and there are numerous other zinc prospects throughout northern Greenland. The Citronen Deposit is open in almost every direction and Ironbark is confident the resource will be expanded with further exploration drilling.
Updated geology model and Exploration Target, completed as part of the ongoing Bankable Feasibility Study refresh, confirms Citronen contains substantial exploration upside beyond current Mineral Resource
• The Exploration Target is comprised of six areas; four of which are adjacent to current Esrum, Beach and Discovery Zone orebodies
• Substantial systematic multi-year exploration and resource development program, including geophysics, planned to coincide with the beginning of project construction
A systematic drilling programme is planned to test extensions to the known mineralisation at the newly identified conceptual target areas. IBG already has four drill rigs at Citronen that are available for any future exploration program, and any further exploration equipment will be mobilised in conjunction with the site construction activities as required.
