Skylark terminates Citronen project sale agreement
ASX-listed Skylark Minerals announced on Tuesday the termination of its agreement with Almeera Ventures concerning the proposed sale of its Citronen zinc/lead project in Greenland.
The decision follows the non-satisfaction of certain conditions precedent outlined in the binding agreement first disclosed in December.
The Citronen project, located in Citronen Fjord, northern Greenland, remains 100% owned by Skylark. The company is currently in discussions with the government of Greenland regarding the project's future.
The Citronen project is considered one of the world's largest undeveloped zinc/lead deposits, with an estimated resource of 85-million tonnes grading 4.7% zinc and 0.5% lead. A 2017 feasibility study outlined a potential mine life of approximately 14 years, based on a production rate of 3.3-million tonnes a year.
Skylark, formerly known as Ironbark Zinc, has been exploring strategic alternatives for the Citronen project to align with its focus on gold and precious metal opportunities.
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