Ironbark Zinc (ASX: IBG) has reported that first round drilling at its key Citronen Base Metal Project in Northern Greenland has been completed, with high grade zinc results received.
The company said several of the holes were designed to test the basement rock for foundation stability for plant, equipment and infrastructure and include the fuel storage area, concentrate storage dome, process plant and camp.
Best results from holes that targeted resource extension and infill drilling include CF10-211: 5m at 12.7% zinc from 132m and CF10-213: 7.5m @ 10.2% zinc from 130m including 1m @ 28.2% zinc from 135.9m.
Jonathan Downes, managing director, said these high grade results are expected to enhance the resource model.
The holes represent geotechnical, metallurgical, extensional and infill holes.
Ironbark said additional drill results are awaited and drilling will remain ongoing 24 hours per day until the completion of the field season in September.
Greenland provides a very supportive mineral development environment with a tax rate of 37% and no Government royalties.
In addition development expenditure and plant and equipment are deductable through depreciation at a rate of 30% on a declining balance basis.
Citronen currently hosts in excess of 10 billion pounds of zinc (Zn) and lead (Pb).
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Ironbark Zinc's high grade zinc results to boost Citronen resource
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