Ironbark Zinc Wraps Up Mt Isa Copper Acquisitions

Ironbark Zinc Ltd (ASX:IBG) has completed the acquisition of the Simon and Anderson Projects, situated in Mt Isa in Queensland from Aeon Metals.

The acquisition comes on the back of a recent reconnaissance trip to the projects, which highlighted the “considerable” copper prospectivity and untapped potential at the new permits.

Notably, IBG now has an 80% interest in both the Simon and Anderson projects at a time when the markets are bullish for copper.

At the indices, the company’s shares have been trading 33.33% higher in past five days at $A0.004.

IBG share price chart

Encouraging copper hits

At Anderson, several samples returned anomalous copper readings including a volcaniclastic breccia with manganese and goethite cement that returned 2,977ppm copper.

In addition, IBG also identified newly discovered outcropping pegmatites that may host potential for REEs, tantalum and niobium.

June 2024 pXRF / rock chip locations and historic drill collar locations taken within the Anderson Project.

Meanwhile, at Simon, the geology of the licence is favourable for copper mineralisation.

The project hosts the Paradise Creek Formation and Fiery Creek Volcanics and the McNamara and Mt Jeannett Fault systems – which are all strong indicators of underlying copper mineralisation.

Where are the projects?

The Simon (EPM 14694) and Anderson (EPM 11898) Projects are situated 90 kilometres north-northwest and 30 kilometres west-southwest of Mt Isa respectively.

Both projects are readily accessible from Mt Isa, which is extremely well serviced by exploration service companies, via a combination of sealed and unsealed roads.

EPM 14694 is located adjacent to Austral Resources Limited’s (ASX:AR1) McLeod Hill ML 5426 with an MRE of 1.7 Mt @ 0.6% copper.

In addition, it also hosts their 5,000 tpd Mt. Kelly heap leach and SX-EW processing facility.

Newly acquired project’s location

Looking ahead

Assay results are pending from the 17 samples collected during the June 2024 reconnaissance field trip with results tentatively due in July, as are the initial results of the Geophysical review.

These findings will inform the next phase of field work scheduled to take place during the September quarter 2024.

Furthermore, ongoing desktop review of the historic data relating to the licencesis also taking place and any material results will be reported to the market as soon as is practicable.

“We will be back in the field in the September quarter as we look to define drill targets for a maiden campaign within 12-months, most likely on the Anderson Project,” said MD Micheal Jardine

 

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