Ironbark Zinc discovers new base metals province in Greenland

Ironbark Zinc (ASX: IBG) has intersected significant widths of high-grade, primary zinc-lead-silver-barite mineralisation in all holes at the Washington Land project in Greenland, indicating potential to host a new large scale base metal resource.

The mineralisation was identified in all holes over 2.7 kilometres around and along strike from the single discovery drill hole completed by Rio Tinto (ASX: RIO) in 1999 at the Cass Fjord Prospect.

Significant intercepts include:

- 3 metres at 16.4% zinc plus lead, 77 grams per tonne (g/t) silver within 17 metres at 4.1% zinc plus lead, 23 g/t silver from 48 metres; and
- 2.5 metres at 8.7% zinc plus lead, 134 g/t silver within 9.5 metres at 4.9% zinc plus lead, 65 g/t silver from 17.5 metres.

All assays have now been returned from wide spaced exploration drilling conducted in August and September 2011.

Ironbark's drilling is the first follow-up work since Rio Tinto identified the prospect from brief helicopter reconnaissance in 1999.

Only one drill hole was completed before pre-planned demobilisation of the regional exploration program 80 kilometres away. The Rio Tinto drill hole returned 1.2 metres at 8.4% zinc and 98 grams per tonne (g/t) silver from 2 metres depth. Rock chip samples taken by Rio show significant scope for further drill targets.

The Washington Land Project is located in northern Greenland and is hosted by the highly prospective geological unit known as the Franklinian Basin. This region was identified as a highly prospective area by the Danish and Greenlandic Geological Survey in 1998.

Exploration in 2011 was designed to test for deeper, primary mineralisation below surface outcrop that may be part of a larger Mississippi Valley Type (MVT) deposit such as those mined in the Canadian extension of the Franklinian Basin.

During 2011 Ironbark chartered a ship to transport and establish a new wholly owned exploration camp and diamond drilling rig, which will provide an ongoing platform for future exploration activities.

Ironbark is planning follow up drilling in 2012.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/22648/ironbark-zinc-discovers-new-base-metals-province-in-greenland-22648.html