A trading halt request to the ASX by Ironbark Zinc (ASX: IBG) has been granted, pending a capital raising announcement from the company.
It is not yet known where the company will allocate the potential new inflow of funds, but last month Ironbark announced a stunning high grade intercept of; 16 metres at 20.8% zinc, in follow-up drilling at Citronen Fjord in Greenland.
Of major importance to this intercept, is that the majority of the flat-lying strata-bound mineralisation in the area has not been effectively explored, representing significant exploration opportunity, with the potential for a resource upgrade.
A revised resource for Citronen incorporating the +20,000m of diamond core drilling completed since November 2008 is expected in the December quarter of 2010.
Total diamond core drilling on the site up to October 2010 is over 62,000m.