Ironbark Zinc acquired the Perseverance Li-REE/Nb Project in northeastern Minas Gerais, Brazil, spanning 52,000 hectares across seven key areas.
The acquisition, costing $100,000 in cash, grants Ironbark 100% ownership of Perseverance Lithium.
Ironbark Zinc has also raised $715,000 through a capital raising led by Peak Asset Management.
The initiative involves issuing 178.7 million fully paid ordinary shares at $0.004 per share, accompanied by attaching listed options on a one-for-one basis.
The funds will support initial exploration programs at the Perseverance Project and the Simon-Anderson Cu Projects in Mt Isa, as well as general working capital needs.