With the resource at Citronen base metals project in Greenland open in almost every direction, Ironbark Zinc could potentially expand the resource even further. The 53% increase in resources in the Measured and Indicated categories bodes well for the project as Ironbark moves to complete its Feasibility Study. With the resource at Citronen base metals project in Greenland open in almost every direction, Ironbark Zinc could potentially expand the resource even further. The 53% increase in resources in the Measured and Indicated categories bodes well for the project as Ironbark moves to complete its Feasibility Study.

Ironbark Zinc has increased both the grade and confidence of the resource at the Citronen base metals project in Greenland through successful drilling during 2011.

The company has reported a 53% increase in resources in the higher confidence Measured and Indicated categories, an 11% increase in the total contained metal inventory and a 10% increase in the zinc and lead grade.

The resource upgrade, which was calculated using the more conservative Ordinary Kriging method, is based on successful drilling conducted by the company during 2011 and on more than 60,000 metres of diamond drilling since discovery.

Mr Jonathan Downes MD told Proactive Investors that it was a successful field season last year that resulted in a resource upgrade on two levels. He said that “It’s been a very successful result on two levels, to summarise a higher feed grade to the mine, but it also allows us to evaluate a much larger tonnage for mining purposes and reserve conversion.”

The resource remains open in almost every direction and, importantly, highlights that exploration at Citronen has resulted in resource expansion every year.

The global resource at Citronen now stands at 13.1 billion pounds of zinc and lead, using a 2% zinc cut off as compared to the previously reported estimate of 132.6 million tonnes at 4% zinc and lead for 11 billion pounds.

Due to the predominantly infill nature of drilling in 2011, there is no material change in the global tonnage of material at the 2% cut-off grade, but greater continuity of higher grade material has resulted in an increase in resource category and honouring of higher grade material.

(Sourced from www.proactiveinvestors.com