CURRENT RESOURCE

1.0 million tonnes at 5.0% zinc, 0.4% copper, 1.5% lead, 0.3 g/t gold and 50 g/t silver  (7.5% zinc equivalent) at a 4% zinc cutoff.

Within a larger lower grade resource of:

3.8 million tonnes at 3.1% zinc, 0.4% copper, 1.0% lead, 0.2 g/t gold and 34 g/t silver (4.9% zinc equivalent) at a 1% zinc cutoff 

Location

The Belara Project is located within EL 6576 & EL6749. The project is located approximately 90km north of Orange. The main prospects within the Belara Project are the Belara and Native Bee historical mines. The Native Bee mine workings lie 1.6km to the south of the Belara workings along the same inferred sedimentary sequence

Mining History

The Belara and Native Bee base metal deposits were discovered prior to 1875, and operated intermittently to 1907 during which time the Belara mine had yielded (with intermittent working) some 260t of metallic copper from 8,000t of ore. In 1908, the maximum vertical depth of the Belara workings was recorded as 60m, with drives on three levels. Lode widths varied from 0.5 to 3m.

The Native Bee workings opened the lode through four shafts over a length of 137m, and to a depth of 27m. Lode widths varied from 0.1m to 0.6m. The Native Bee mine yielded approximately 25t of metallic copper from 500t of ore before production ceased in 1908.

Ironbark considers the resource to be significant and is encouraged that the two deepest holes have returned the highest grade and widths indicating that the ore body is open ended at its thickest point. Ironbark plans to expand the resource by conducting further drilling targeting extensions to mineralisation. Additional drilling is planned to bring the resource to a higher level of confidence and increase the overall grade of the ore body.