Ironbark Zinc encouraged by New South Wales drilling results

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THE DRILL SERGEANT: Ironbark Zinc (ASX: IBG) has intercepted zones of mineralisation during drilling at the Jerangle prospect, part of the Captains Flat project, located south of Canberra in New South Wales.

The latest drilling encountered broad sulphide mineralisation down dip from previous drilling with intercepts including:

–    2.6 metres at 10 grams per tonne silver, 0.2 per cent copper and 6 per cent lead and zinc;

–    5m at 4.2g/t silver, 0.13 per cent copper and 4.6 per cent lead and zinc; and

–    9.9m at 5.7g/t silver and 0.45 per cent copper.

Ironbark explained the drilling commenced at Jerangle in early January 2013 to test an electromagnetic (EM) conductor identified by its Joint Venture partner, NSW Base Metals; a subsidiary of Glencore International AG.

The current and previous drilling results are currently being reviewed and modelled to target higher grade zones of mineralisation and to determine the relationship with historic areas of drilling.

The Captains Flat base metal project covers a strike length of 39 kilometres of a Volcanic Massive Sulphide (VMS) horizon that hosts numerous historic mineral occurrences and mines, including the Lake George Mine that produced 4 million tonnes of high-grade ore until closure in 1962 and was at one time Australia’s second largest producer of copper.

Within the project area prospects also include the Lake George, Vanderbilt Hill and Anembo prospects where previous explorers have returned high grade copper and zinc drill intercepts.

The high-grade Lake George Mine produced approximately 4 million tonnes of ore at 10 per cent zinc, 6 per cent lead, 0.7 per cent copper, 1.8 g/t gold and 55 g/t silver and remains prospective for additional ore. Diamond drill results beneath historical workings indicate mineralisation over a strike length of at least 300m and include 1.22m at 12.4 per cent zinc, 5.4 per cent lead. Mineralisation is open at depth and may represent possible repeats of the historically mined areas.

The Vanderbilt Hill prospect is located to the east of the Lake George Mine and drilling has returned results such as 3.9m at 10 per cent zinc, 5.3 per cent lead. The prospect is considered to be prospective with open ended historic high-grade drill results yet to be followed up.

The Anembo prospect lies 12km north of Jerangle and historic drilling returned a best intercept of 3m at 6.9 per cent zinc, 5.5 per cent lead, 21g/t silver and 2g/t gold from 163m.