Ironbark Zinc (ASX:IBG) has completed the acquisition of an 80% interest in the Simon and Anderson projects in Mt Isa, Queensland, from Aeon Metals (ASX:AML).
Under the agreement, Ironbark paid $100,000 for both projects.
A site reconnaissance trip conducted at the Anderson Project last month focused on the known copper occurrence at the Carter’s Ridge prospect in the southern part of the tenement.
Sixteen samples were taken from Carter’s Ridge, with several returning anomalous copper readings including a volcaniclastic breccia with manganese and goethite cement, returning up to 2,977 parts per million (ppm) copper.
The company says the work conducted at Carter’s Ridge confirms the prospect area’s potential to host copper mineralisation, with little exploration conducted to date.
Once all results have been received, Ironbark will plan further exploration at the prospect.
While no drilling has been conducted at the Simon Project to date, the company says the geology of the licence is favourable for copper mineralisation, with the Paradise Creek Formation and Fiery Creek Volcanics falling within the project area.
There are two areas of interest within the project, comprising the North Block and South Block. The North Block has mineralisation along the Mt Jeanette fault zone, while the South block is within the Fiery Creek Volcanics along the McNamara fault zone.
Ironbark is awaiting assay results from 17 samples collected from the Simon Project during the field trip. Results are expected to be returned this month.
The company says these findings will guide the next phase of exploration, which will take place this current quarter.
Write to Aaliyah Rogan at Mining.com.au
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