Ironbark Zinc progressing development and financing at Citronen...

Ironbark Zinc progressing development and financing at Citronen Zinc Project

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07:38 26 Apr 2018
The company is working with an advisor to structure and secure project financing.
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A Perth broker has a target price of 26 cents for the company
Ironbark Zinc Ltd (ASX:IBG) remains focused on the development of its world-class 100% owned Citronen Zinc Project in Greenland.
The company will take a ship to Citronen in August this year to transport essential equipment and fuel to site.
Site activities are planned to commence this year including a portal and decline drive towards the first underground ore source, the Beach Zone.
READ: Ironbark Zinc’s major shareholder increases stake on-market

The Citronen project hosts one of the world’s largest zinc deposits and is being advanced during a period of rising zinc prices.
Citronen is adjacent to water and consists of simple, flat and continuous ore zones that form a large-scale zinc and lead JORC 2012 resource.
The resource stands at 132 million tonnes grading 4.4% zinc and lead, equivalent to 12.8 billion pounds of zinc making it a genuine tier one base metal resource.
Well-funded to pursue activities

Ironbark held a cash position at the end of the March 2018 quarter of about $6 million with no debt.
This places Ironbark in a strong position to aggressively progress the financing and development activities.

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