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Ironbark Zinc (ASX:$IBG) acquires option over Pilbara projects

Ironbark Zinc's recent acquisitions and capital raising


Ironbark Zinc Limited (ASX:$IBG) has acquired an exclusive 6-month option over the Bamboo Creek & Daltons Projects in the Pilbara Region of WA. The company has paid Sorrento Resources Pty Ltd $75,000 in cash for this option, providing low-cost exposure to a premium location. Additionally, Ironbark has secured firm commitments to raise $0.6 million through the issue of 120,000,000 fully paid ordinary shares at $0.005 per share.

Executive commentary on the acquisitions and capital raising


Having long been focused almost solely on the development of Citronen, the Board has now elected to enact a growth strategy underpinned by the pursuit of multiple, and parallel, growth opportunities. Bamboo Creek and Daltons represent a low-cost way to acquire a position in Western Australia, the world's premier mining jurisdiction, as IBG moves towards holding a portfolio of opportunities spread across various metal markets. These acquisitions are excellent opportunities from which to further grow the asset base of the Company alongside the Citronen Project in Greenland. The Company is now very well placed for a busy start to 2024.

Summary of Ironbark Zinc's recent developments


Ironbark Zinc Limited (ASX:IBG) has acquired an exclusive 6-month option over the Bamboo Creek & Daltons Projects in the Pilbara Region of WA, providing low-cost exposure to a premium location. The company has also secured firm commitments to raise $0.6 million through the issue of 120,000,000 fully paid ordinary shares at $0.005 per share. The proceeds will be used to fund the ongoing assessment of new projects, including Bamboo Creek & Daltons, and for general working capital purposes. With a focus on pursuing multiple growth opportunities, Ironbark is positioning itself to hold a portfolio of opportunities spread across various metal markets. The acquisitions in the Pilbara region, alongside the Citronen Project in Greenland, are expected to further grow the company's asset base. The Company is well positioned for a busy start to 2024.

Sourcehttps://announcements.asx.com.au/asxpdf/20231211/pdf/05ydzgpx452vld.pdf

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