ASX-listed exploration and development company, Ironbark Zink and its joint venture partner, Forge Resources, have commenced drilling at their Jerangle prospect, part of the Captain’s Flat base metals project in southern New South Wales, Australia.Ironbark Zink is currently entitled to a 51% joint venture interest and is jointly funding exploration on its core project to earn an additional 24% combined interest from Forge Resources, a diversified exploration company also based in Australia. Ironbark has recently indentified a high priority electromagnetic (EM) target and drilling will concentrate on this particular conductor. The company says the most recent drill hole was strongly mineralised near the top of the modelled EM conductor and highlighted the potential for considerable deeper mineralisation at the Jerangle prospect.
The Captain’s Flat base metals project covers a strike length of 39km of a highly endowed Volcanic Massive Sulphide (VMS) horizon that hosts numerous historic mineral occurrences and mines, including the Lake George gold mine.Lake George was mined between 1882 and 1899 and produced 26.7 t of silver, 16100 oz of gold and 3841 t of copper from 114560 t of ore. It was re-opened in 1937, after which it produced 406418 t of zinc, 243851 t of lead, 27230 t of copper, 7.4 Moz of silver and 220000 oz of gold from over 4 Mt of ore. It was eventually closed in 1962 Ironbark has a US$50 million funding facility, provided by Glencore International, to help drive the company’s growth.