Ironbark announces Citronen resource upgrade to host more than 10.5 billion pounds of zinc-lead metal November 17, 2008

Australian zinc exploration and development company Ironbark (ASX: IBG) announced today a major resource upgrade at its flagship 100%-owned Citronen Zinc-Lead Project in Greenland.

The global resource at Citronen has been upgraded to 102Mt @ 4.7% Zinc (Zn) + Lead (Pb), at a 2% Zn cut-off.

This represents a 38% increase in contained metal and a 25% increase in resources in the Indicated JORC category.

The upgraded resource now hosts more than 10.5 billion pounds of contained zinc and lead metal.

The resource upgrade is a result of a drilling program of more than 11,000m across 43 drill holes during the recently completed 2008 exploration season at Citronen, which saw the company spend $10m in mobilising its exploration team on-site, and takes total drilling at the project to over 44,000m since discovery in 1993.

The results from the company’s 2008 exploration season have reinforced that Citronen is a world class zinc-lead project, with development potential to become one of the world’s largest zinc mines. Ironbark will continue drilling at the project to further increase the resource base.

Click here to read the full announcement.

For further information, please contact:

Jonathan Downes
Managing Director
Ironbark
T +61 8 6461 6350

or

James Moses
Fortbridge Consulting
T +612 9331 0623
M +61 420 991 574
E james.moses@fortbridge.com