Ironbark Zinc Joins Brazil Rush; Acquires Lithium, Rare Earth, and Niobium Potential

Ironbark Zinc Ltd (ASX:IBG) is the latest ASX-lister to embark on the mineralised opportunities in Brazil.

The country has certainly delivered some success in recent times for these entrants.

Such as Latin Resources Ltd’s (ASX:LRS) lithium discovery, with the company now capped around $500 million.

Also, Meteoric Resources Ltd’s (ASX:MEI) rare earth discovery, swelling its valuation to over $300 million.

Video interview; Meteoric Resources Ltd (ASX:MEI) chairman Andrew Tunks:

Video interview; Axel REE Ltd (ASX:AXL) chairman Paul Dickson:

Ironbark and Brazil

The company has acquired 100% of the Perseverance Brazil Project, which consists of seven key projects in northeastern Minas Gerais.

Minas Gerais is Brazil’s third-largest economy and is well-serviced by infrastructure, hydroelectric power, water, and a major port facility.

The region hosts over 300 operating mines.

Location

Perseverance is located in the geological extensions of the Lithium Valley, a politically defined area including the towns of Salinas and Araçuaí.

These lie adjacent to the mines with globally recognised resources of CBL, Sigma Lithium and Latin Resources.

The project hosts potential for the discovery of lithium-related minerals, as well as other critical minerals including niobium.

Consideration and funding

Consideration is light at A$100,000 payable in cash, with Ironbark planning and preparing to commence exploration activities.

Firm commitments are secured to raise A$715,000 via the issue of 178.7 million shares at $0.004.

Peak Asset Management led the raise.

Pivot

Michael Jardine, managing director, commented:

“The ongoing pivot of Ironbark Zinc continues with the acquisition of the Perseverance Project following soon after we secured the Simon-Anderson Copper Projects in Mt Isa.

“Perseverance provides the company with enormous exposure to one of the hottest hard rock Lithium neighbourhoods in the world at a very low cost and complements the other base metal projects in our portfolio.”

 

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