Name of the Project
Citronen lead/zinc development.

Location
The Citronen Fjord zinc/lead deposit is located within the Lower Palaeozoic Franklinian basin of northern Greenland.

Client
Ironbark Zinc.

Project Description
The project represents one of the world’s largest undeveloped zinc/lead resources.

An updated feasibility study on the project envisages a mine rate of 3.3-million tonnes a year, with a production rate of up to 200 000 t/y of zinc metal.

The project is a relatively simple, predominantly underground room-and-pillar mining operation that will concentrate ore through industry-proven dense-media separation (DMS) and flotation techniques to produce saleable separate zinc and lead concentrates for the world markets.

The life-of-mine is estimated at 14 years (open-ended and with further inferred resources that could be converted to reserves).

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.03-billion and an internal rate of return of 36%.

Value
The project has an estimated capital cost of $514.21-million.

Duration
Not stated.

Latest Developments
Ironbark Zinc is advancing its Citronen zinc/lead project to take advantage of the high zinc prices.

The company is planning a major fuel cargo shipment for this year, while preliminary site work will also be conducted, including the start of the boxcut, portal and decline into the Beach zone orebody.

Ironbark is in negotiations with a shipping group to meet its transport requirements, and is hoping to formalise this agreement and the buying of the fuel and mining equipment.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ironbark Zinc, tel +61 8 6461 6350, fax +61 8 6210 1872 or email admin@ironbark.gl.