Ironbark Zinc (ASX:IBG) is focused on base metal exploration and development in Greenland and Australia. The company's project portfolio includes the Citronen Zinc Project, one of the world's largest undeveloped zinc resources, in Greenland and four base metal and gold exploration licences in New South Wales.
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Ironbark Zinc eyes development of world-class zinc project
Ironbark Zinc (ASX:IBG) continues to advance its wholly-owned Citronen project, one of the largest zinc projects in the world, located in Greenland.
The stock is trading up 75% over the past 12 months, supported by a strong zinc price that rallied 60% during 2016.
The project has a current 2012 JORC resource of 70.8 million tonnes at 5.7% zinc and lead, which represents over 13.1 billion pounds of zinc and lead.
This gives Ironbark the opportunity to develop one of the world's largest zinc mining operations.
The company was recently awarded a mining permit at Citronen, a major milestone in the project's advancement, as it gives the company the right to exploit the project for a 30 year period.
Ironbark is also actively seeking to grow, with Glencore to provide Ironbark with a US$50 million convertible note funding facility to acquire assets and for working capital.
Additional benefits of the Glencore partnership is attractive offtake and marketing arrangements have been agreed.
Other Ironbark Zinc news
- Ironbark Zinc Ltd raises funds to advance Citronen Zinc Project
- Ironbark Zinc takes strides in development of giant Citronen project
- Ironbark Zinc starts public consultation for Citronen mining licence
- Ironbark Zinc has more high grade zinc potential at Mestersvig
- Ironbark Zinc, Glencore now equal partners at Captains Flat project