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Greenland

Citronen Project

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Categories

Overview

Mine TypeOpen Pit & Underground
StagePermitting
Commodities
  • Zinc
  • Lead
Mining Method
  • Truck & Shovel / Loader
  • Room-and-pillar
Mine Life... Lock
SnapshotThe Citronen Zinc-Lead Project in northern- Greenland represents one of the world’s largest undeveloped zinc-lead resources with a resource in excess of 13 billion pounds of contained zinc and lead metal.

Owners

SourceSource
CompanyInterestOwnership
Ironbark Zinc Ltd. 100 % Indirect
Ironbark A/S 100 % Direct
On 15 August 2016 the Company incorporated a new Greenland subsidiary namely ‘Ironbark A/S’. The new subsidiary is 100% wholly owned by the Company’s subsidiary “Ironbark Aust Pty Ltd’. The Company has transferred its Citronen Project and associated exploitation licence to this entity.

Deposit type

  • SEDEX

Summary:

The Citronen Deposit is interpreted as belonging to the SEDEX deposit class, forming syn-depositionally with sedimentation.

SEDEX deposits are formed in submarine environments by the precipitation of sulphides from metal bearing fluids introduced onto the seafloor through underlying fractures which act as metal-bearing fluid conduits. Large amounts of sulphur are precipitated principally as pyrite and focused around vent areas or ‘mounds’ on the sea floor. Base metal (Zn + Pb) bearing sulphides at Citronen are predominantly located within laminate horizons surrounding these larger sulphide accumulations.

Mineralisation at the Citronen Fjord Zn-Pb Deposit comprises several distinct sulphide mounds containing massive and net-textured pyrite-rich mineralisation, interpreted to represent the focal point of fluid influx, flanked by pyritic laminated sulphides that are locally sphalerite and galena-rich. These laminated sulphides host the majority of economic grade mineralisation.

The deposit consists of multiple sulphide mounds forming in three lateral positions (“vents”), defined as the Discovery, Beach and Esrum ore bodies.

The mineralisation is hosted within two fine- grained sedimentary units, separated by a mass carbonate debris flow. The majority of mineralisation is stratiform, with semi-massive net-textured to massive sulphides accumulating in the core of the mound structure. Structurally controlled stock-work style mineralisation is present within the carbonate debris flows, with the most notable termed the XX ore body. The stratiform mineralisation has been identified from outcrop to a depth of approximately 500 metres, with the mineralisation open at depth. Level 1 is located predominantly within the Discovery ore body, Level 2 is evident discontinuously across all three ore bodies and Level 3 contains the largest volume of sulphides, with a lateral extent of over 3,000 metres between the Beach and Esrum ore bodies.

The mineralisation is pyrite dominated with variable amounts of sphalerite ((Zn/Fe)S) and lesser galena (PbS) present as sulphide species. Minor chalcopyrite (CuFeS2) has been documented and interpreted as having formed during remobilisation and enrichment of primary stratiform-hosted mineralisation. No economically significant Cu or silver (Ag) has been identified to be associated with the sulphide mineralisation.

Primary mineralisation is generally fine to medium grained, weakly to moderately laminated and bedded parallel with regionally deposited sediments. Gangue mineralogy is primarily silt and clay from mudstones deposited contemporaneously with sulphide mineralisation.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. Annual
Zinc t 200,000

Operational metrics

Metrics
Annual mining capacity 3.3 Mt of ore *
Plant annual capacity 3.3 Mt *
Ore tonnes mined, LOM 45 Mt *
* According to 2017 study.

Production Costs

CommodityUnitsAverage
Site cash costs (produced) Zinc USD 0.52 / lb * **  
Assumed price Lead USD 1.05 / lb *  
Assumed price Zinc USD 1.38 / lb *  
* According to 2017 study / presentation.
** Net of By-Product.

Operating Costs

Currency2017
OP mining costs ($/t milled) USD 1.32 *  
UG mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2017 study.

Project Costs

MetricsUnitsLOM Total
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 496.5
G&A costs $M USD 344.3
Total OpEx $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net Income (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2020
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Nov 12, 2023

EmployeesYear
...... Subscription required 2017

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