Falcon Receives Assays at Golden Brook "Gun Flap Hill" Project, Identifies Multiple Critical Element Anomalies

Falcon Receives Assays at Golden Brook "Gun Flap Hill" Project, Identifies Multiple Critical Element Anomalies

Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce the company has received assay results from the late spring, early summer 2023 exploration program conducted over the Gun Flap Hill project located in Southern Newfoundland. The project covers the northwestern portion of the Golden Brook Property, and is located approximately 160 kilometers southwest of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including

  • Copper-Tantalum-Vanadium anomaly
  • Anomalous Gold
  • Nickel-Chromium anomaly
  • Multiple Critical and Rare Element anomalies including Lithium, Tantalum, Cerium, Lanthanum and Strontium

Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Gun Flap Hill project, as part of the company's Q2 2023 Reconnaissance Program. The program was developed to investigate the gold potential of the property through initial prospecting along predefined traverses over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Falcon. The comprehensive review identified multiple areas deemed prospective in the northwestern part of the Golden Brook Property. A total of 57 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis. Sample collection included chip and grab samples from locations deemed of interest by the in-field personnel. Assay results identified anomalous gold (>5ppb) in three locations in association with quartz vein within granite host. The exploration program further identified multiple anomalous critical and rare metals, and the highlights from this sampling include the following:

  • Two sample stations returned anomalous Nickel-Chromium up to 410ppm Ni and 765ppm Cr.
  • One sample station returned anomalous Copper-Tantalum-Vanadium reporting 280ppm Cu, 19ppm Nb, 23ppm Ta, and 1180ppm V.
  • Two sample stations identified anomalous Lithium (up to 71ppm Li) associated with anomalous Cerium (up to 130ppm Ce), Lanthanum (up to 63ppm La), and Lead (up to 73ppm Pb).
  • Multiple sample stations returned anomalous Strontium (up to 1531ppm Sr), Zirconium (up to 281ppm Zr) and Barium (up to 3552ppm Ba) proximal to the anomalous Lithium sample stations.

The nickel-chromium anomalies are preliminary in nature and should not be considered conclusive evidence of a mineral occurrence. The results represent new information for the area in which the samples were collected, and there are no previously documented nickel or chromium anomalies historically recorded within the public domain from the areas in which the exploration work was conducted. The highly anomalous results are interpreted by the company to be associated with unexplored gabbroic intrusive rocks emplaced within the Gun Flap Hill project area. The newly identified base metal anomalies are under further review by the company. A follow-up survey that includes detailed local geology mapping, additional prospecting and targeted sampling is being considered for a fall 2023 exploration program.

Falcon interprets the multiple critical and rare earth element anomalies to be associated with undocumented pegmatites emplaced in relation to unexplored granite rocks in the project area. The potential for pegmatites in the vicinity of the Gun Flap Hill project was first documented during regional mapping in the early 1980's by the Mineral Development Division, of the Government of Newfoundland and Labrador Department of Mines and Energy which identified an undisclosed number of pegmatites emplaced within deformation zones of granite plutons west of the project. The critical and rare earth element anomalies represent new information for the area in which the samples were collected, and there are no previously documented rare earth anomalies historically recorded in the public domain from the areas in which the samples were collected. The newly identified anomalies are under further review by the company to better determine their significance, and to develop an exploration program for further follow up.

Mr. Karim Rayani, Chief Executive Officer, commented, "Our Gun Flap Hill Property was originally staked to explore its gold potential due to its close proximity to the Cape Ray Fault zone, which hosts the nearby former Hope Brook Mine. The anomalous gold values are significant in that they identify three areas of anomalous gold within the Cape Ray Fault deformation zone, and results greater than 5ppb gold in the province are considered anomalous enough to require follow up work. I must state again these were reconnaissance surveys conducted within an extensive and largely unexplored area, and to have found new areas of Nickel and Chromium and REE mineralization in previously undocumented areas serves to highlight the highly prospective nature of this land position. We feel the Hope Brook Property holds tremendous potential for new exciting discoveries, and we are very excited to see a new critical element discovery for battery elements in the camp as we prioritize projects for our fall exploration campaign."

The Cape Ray Fault Zone has historically been recognized as being fertile for gold. The property is located in proximity to several gold prospects (Wilding Lake, Cape Ray), an advanced stage gold deposit (Valentine), and a former gold mine (Hope Brook). The Company had originally acquired the Golden Brook for its gold potential. Within this immediate area, the most significant deposit is the former Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit now owned by First Mining, and has since been optioned to Big Ridge Exploration Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories. Falcon has applied for financial assistance for the Golden Brook (Hope Brook) project through Newfoundland's Junior Exploration Assistance (JEA) Program.

Qualified Person

Greg Robinson, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds multiple additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina; The Viernes Gold/Silver/Copper project in Antofagasta Chile; The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland; and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde Property.

CONTACT INFORMATION:

Falcon Gold Corp.
"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director

Telephone: (604) 716-1036
Email: k@r7.capital

Cautionary Language and Forward-Looking Statements

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the Spin-Out. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Falcon Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/776285/Falcon-Receives-Assays-at-Golden-Brook-Gun-Flap-Hill-Project-Identifies-Multiple-Critical-Element-Anomalies

News Provided by ACCESSWIRE via QuoteMedia

FG:CC
The Conversation (0)
Falcon Commences Drilling At Its Great Burnt Copper Project, NL

Falcon Commences Drilling At Its Great Burnt Copper Project, NL

Falcon Gold Corp.(TSXV:FG)(3FA:GR)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report drilling has commenced at our Great Burnt Copper Project (the "Property") located in Central Newfoundland. The Company has completed 8kms of additional road to the drill site from the government access road which we share Benton Resources

Karim Rayani, Chief Executive Officer and director stated: "We are excited to have our inaugural drill campaign underway at our Great Burnt Project. The magnetic signature suggests that Falcon controls the northern extension of the same magnetic feature that Benton Resources has had recent success in drilling and sampling. We will be initially testing ten geophysical anomalies and will plan to extend the program once we receive the necessary government approvals."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Mobilizes Drill Crews At Great Burnt Copper Project In Central Newfoundland

Falcon Mobilizes Drill Crews At Great Burnt Copper Project In Central Newfoundland

Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF) ("Falcon" or the "Company") is pleased to report drill crews and equipment are now being mobilized to our Great Burnt Copper Project (the "Property") located in Central Newfoundland. The Company previously encountered delays earlier this spring due to high water levels in accessing the Property. The Company has now completed 3 km of additional road to the drill site from the government access road which we share with Benton Resources

Karim Rayani, Chief Executive Officer and director stated: "We are very excited to have mobilized drill crews and equipment for inaugural drill campaign at our Great Burnt Project. Falcon is perfectly situated in what is shaping up to be Newfoundland's highest-grade copper district. Drilling is set for testing up to ten geophysical anomalies initially with 1100 metres of drilling. An application for a secondary permit for an additional 2000m to 3000m is now ongoing."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Reports the Status of Drill Program at Great Burnt Copper Project, Newfoundland

Falcon Reports the Status of Drill Program at Great Burnt Copper Project, Newfoundland

Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report on the status of our inaugural drill program at its 100%-owned Great Burnt Copper Project (the "Property") located in Central Newfoundland. The Company encountered delays earlier this spring due to high water levels in accessing the Property. The Company had to apply for additional permits to build 8 km of additional road to access the drill site, which is anticipated to be completed by the end of the week. The Company will report the status once equipment can be mobilized to the site

Karim Rayani, Chief Executive Officer and director stated: "Falcon is opportunistically positioned in what is shaping up to be Newfoundland's highest-grade copper district. After a small setback in timing, we are nearly ready to commence operations at our 100%-owned Great Burnt Copper Project. We look forward to reporting back on the start date once confirmed. Scheduled drilling is testing up to ten geophysical anomalies with a maximum of 1100 metres of drilling."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon To Commence Drill Program At Great Burnt, NL

Falcon To Commence Drill Program At Great Burnt, NL

Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that the Company is to commence drilling at its 100% owned Great Burnt Copper Project in Central Newfoundland. The Company plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling

Falcon holds 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to, Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") recently optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. ("Spruce Ridge") in an agreement that allows Benton to earn a 70% interest in the property (see press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton at the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge reported 8.06% Cu over 27.2 m (TSXV: SHL press release dated March 18, 2021).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Hires Centreline for Great Burnt Drilling

Falcon Hires Centreline for Great Burnt Drilling

Falcon Gold Corp. (FG:TSXV)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce that the Company has awarded a drilling contract to CentreLine Drilling of Newfoundland to conduct a diamond drilling program at its 100% owned Great Burnt Copper Project in Central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. Falcon will provide further guidance on an estimated drill start date once logistics for the program are determined and remaining service providers are confirmed

Falcon holds 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to, Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") recently optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. ("Spruce Ridge") in an agreement that allows Benton to earn a 70% interest in the property (see press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton at the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge reported 8.06% Cu over 27.2 m (TSXV: SHL press release dated March 18, 2021). The Great Burnt Greenstone Belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see right-hand-side image in Figure 2). The presence of mineral occurrences within ground adjacent to Falcon's Great Burnt Copper Property cannot be used as an indication of mineralization within Falcon's property itself.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Los Andes Copper at 121 Mining Investment London

Los Andes Copper at 121 Mining Investment London

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to announce that the Company will be attending and participating in the upcoming 121 Mining Investment London event ("121") on 12-13 May 2025.

The 121 conference is London's largest dedicated mining investment event with over 100 companies and more than 400 sophisticated investors attending for two days of pre-booked 1-2-1 meetings.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
OUTCROP SILVER ANNOUNCES PARTNER FUNDED MAIDEN DRILL PROGRAM AT THE PEARL COPPER PROJECT, ARIZONA

OUTCROP SILVER ANNOUNCES PARTNER FUNDED MAIDEN DRILL PROGRAM AT THE PEARL COPPER PROJECT, ARIZONA

Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG) ("Outcrop Silver") is pleased to announce the commencement of the maiden drill program at the Pearl Copper Project located in Arizona United States . The drilling campaign will be fully funded by Golden Mile Resources Limited (ASX: G88), whereby Golden Mile is currently earning a 51% interest through funding this A$2 million maiden drill program. Outcrop Silver retained a 1% net smelter return (NSR) royalty.

Outcrop Silver logo (CNW Group/Outcrop Silver & Gold Corporation)

Highlights

  • Outcrop Silver advances the Pearl Copper project through an earn-in agreement with Golden Mile Resources (ASX:G88). Program fully funded by Golden Mile .
  • The Pearl project is located in the prolific Laramide porphyry copper district, which is responsible for 70% of the United States of America's copper production.
  • All drilling permits secured from the Bureau of Land Management (BLM) and the Arizona State Land Department (ASLD).
  • The maiden drill program to test high-grade copper-silver-gold targets at the Odyssey and Ford prospects has commenced.

" Golden Mile's fully funded drill program moves Pearl forward at no cost to Outcrop Silver and exemplifies our strategy of unlocking value from non-core assets while we focus capital on expanding the high-grade Santa Ana silver project in Colombia ," stated Ian Harris , President & CEO of Outcrop Silver.

The Pearl Copper project is located in the Laramide porphyry copper district, one of the most prolific copper-producing regions globally, accounting for approximately 70% of U.S. copper production. The project sits immediately north of BHP's past-producing San Manuel-Kalamazoo Mine and along the trend with Capstone Copper's active Pinto Valley Mine, benefiting from exceptional infrastructure and a skilled local workforce.

Following the receipt of all required exploration permits, including the Notice of Intent (NOI) from the BLM and the Special Land Use Permit (SLUP) and Geologic Field Operation Plan (GFOP) from the ASLD, drilling has commenced. This maiden drill program consists of 14 to 16 reverse circulation (RC) holes totaling up to 1,800 metres, and will test two priority targets.

Transaction

On September 12, 2024 Golden Mile purchased an option on Pearl for A$100,000 (Australian Dollars) with Outcrop Silver retaining a 1% NSR royalty. Golden Mile has the option to earn-in to 51% by funding A$2,000,000 in exploration expenditures by September 12, 2027 . Golden Mile may also earn an additional 34% by funding an additional A$10,000,000 in exploration expenditures within 5 years. Upon completing the earn-in a joint venture will be formed with both parties funding proportionally. If either party dilutes below 10%, their interest will convert to an additional 1% NSR royalty. At such time that a JORC compliant resource achieves 750,000 tonnes of contained copper at a minimum grade of 0.3%, Golden Mile will pay Outcrop Silver A$2,000,000 .

The Pearl Copper project was acquired through the amalgamation with Zacapa Resources. Zacapa's portfolio also included the Kramer Hills brownfield oxide gold project in San Bernardino, California and the South Bullfrog, gold project in Beatty, Nevada adjacent to Anglo Gold's Silicon project.

Qualified Person

Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia . Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.

About Golden Mile

Golden Mile is a project development and mineral exploration company. The primary focus is on growing the Company with a multi-asset and multi-commodity strategy through advancing core projects, acquiring high-quality assets, and tactical alliances with joint venture partners.

ON BEHALF OF THE BOARD OF DIRECTORS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.

SOURCE Outcrop Silver & Gold Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/08/c1166.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Group Eleven Intersects 12.0m of 2.30% Cu and 560 g/t Ag, Including 6.4m of 3.72% Cu and 838 g/t Ag, Demonstrating High-Grade Copper and Silver Potential at Ballywire

Group Eleven Intersects 12.0m of 2.30% Cu and 560 g/t Ag, Including 6.4m of 3.72% Cu and 838 g/t Ag, Demonstrating High-Grade Copper and Silver Potential at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce assay results from four new holes from the ongoing drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

  • 25-3552-31, a 65m step-out hole, intersected two strongly mineralized horizons:
    • Cu-Ag horizon (starting at 348.7m downhole)
      • 19.9m of 1.46% Cu and 356 g/t Ag, including
      • 12.0m of 2.30% Cu and 560 g/t Ag, including
      • 6.4m of 3.72% Cu and 838 g/t Ag
    • Zn-Pb-Ag horizon (starting at 297.0m downhole)
      • 47.1m of 4.5% Zn+Pb (3.1% Zn and 1.4% Pb) and 22 g/t Ag, including
      • 25.9m of 7.4% Zn+Pb (5.1% Zn and 2.3% Pb) and 35 g/t Ag, including
      • 12.9m of 11.0% Zn+Pb (7.7% Zn and 3.2% Pb) and 57 g/t Ag, including
      • 3.7m of 20.4% Zn+Pb (15.8% Zn and 4.6% Pb) and 151 g/t Ag
  • Up to 10.45% Cu (over 0.80m) and up to 1,880 g/t Ag (over 0.86m) intersected in the Cu-Ag horizon; to the Company's knowledge, this represents the highest-grade Ag intercept in Ireland over the last >60 years (by any operator) and similarly, one of the highest-grade Cu intercepts
  • Cu-Ag horizon consists of replacement-style mineralization along the base of the Waulsortian Limestone in proximity to a fault structure; mineralization appears to consist mostly of tennantite-tetrahedrite (detailed mineralogy work to be undertaken in due course)
  • Noteworthy is the presence of elevated antimony in the Cu-Ag zone, grading 0.27% Sb within the above 6.4m interval (including 0.80m of 10.45% Cu, 1215 g/t Ag and 0.83% Sb)
  • This hole expands the footprint of the 2.6km long discovery trend by at least 65m down-dip, to a total of at least 170m down-dip along this section (and remains open further down-dip)
  • Drilling continues at Ballywire with two rigs testing (i) the NE extension and (ii) 1.3km ENE of the Ballywire discovery in the vicinity of the prospective 'D' gravity-high anomaly; a third rig was added this week, testing the deeper Cu-Ag target (below the Waulsortian Limestone)

"Intersecting spectacular copper-silver grades over significant thicknesses is a pivotal moment for the Ballywire discovery," stated Bart Jaworski, CEO. "These results not only strongly point to a stratigraphically deeper Cu-Ag horizon but also represent a proof of concept that substantial grades and thicknesses of copper and silver exist at the discovery, in addition to excellent grades of Zn-Pb. The growing presence of critical minerals at Ballywire, namely, copper, germanium and now potentially antimony, highlights the rising strategic importance of this discovery for Ireland, the EU and our shareholders. With today's Cu-Ag milestone, continued drilling to the NE and along our prospective 6km trend, plus the start of drilling with our third rig, we are poised to further grow shareholder value as the year progresses."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit1_550.jpg

Exhibit 1. Cross-Section Showing New Drilling (25-3552-31) at Ballywire Discovery

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit1.jpg

Note: True width of mineralized intervals in 25-3552-31, as a percent of down-hole interval, is estimated to be 50-70%

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit2_550.jpg

Exhibit 2. Plan Map Showing New Drilling and Intersected High-Grade Cu-Ag Mineralization

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit2.jpg

New Step-Out Holes at Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 52 holes drilled and reported by Group Eleven to date, including the most recent four holes (25-3552-30, -31, -32, and -33) reported today (see Exhibits 1 to 7).

High-grade Zn-Pb mineralization from 25-3552-31 (see Page 1 and Exhibits 1 to 4) consists predominantly of sphalerite, galena and pyrite. High-grade Cu-Ag mineralization in this hole consists of suspected tennantite/tetrahedrite, chalcopyrite, sphalerite, galena and pyrite along and/or close to the base of the Waulsortian Limestone (see Exhibit 1). Noteworthy is the presence of elevated antimony within the Cu-Ag zone. For example, the 6.39m interval below, grading 3.72% Cu and 838 g/t Ag, also grades 0.27% Sb (including 0.80m of 10.45% Cu, 1215 g/t Ag and 0.83% Sb).

Exhibit 3. Summary of Assays from 25-3552-31 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
25-3552-31155.00155.840.848.411.7010.1193.8-
And188.89192.613.722.340.222.5611.9-
Incl.190.82191.750.934.770.455.2225.2-
And296.95344.0747.123.131.374.5021.6-
Incl.300.76301.700.945.210.725.9313.9-
And309.07334.9625.895.102.277.3735.4-
Incl.310.00322.8812.887.723.2410.9557.4-
Incl.315.49319.203.7115.814.5620.37151.1-
And347.79370.4222.630.470.510.98315.81.30
Incl.348.71368.6019.890.490.571.07356.51.46
Incl.348.71360.7312.020.590.791.38560.12.30
Incl.353.39360.737.340.681.271.95768.03.36
Incl.354.34360.736.390.651.462.11838.03.72
Incl.354.34355.200.860.770.060.831880.05.73
And355.20356.090.890.090.020.11516.01.12
And356.09357.020.930.408.478.87399.01.16
And357.02357.980.960.361.151.51128.01.19
And357.98358.780.802.440.212.651215.010.45
And358.78359.841.060.330.060.38979.03.92
And359.84360.730.890.450.030.48871.03.52

 

Note: True width of the mineralized interval in hole 25-3552-31, as a percentage of the down-hole interval, is estimated to be 50-70%; for photographs of Cu-Ag rich core, see Appendix and www.groupelevenresources.com.

Three other holes released today were drilled in a 150m gap to the NE of 25-3552-31 (25-3552-30, -32 and -33; see Exhibit 2). Hole 25-3552-30 returned nil mineralization, 25-3552-32 returned three intervals of mineralization up to 0.94m of 2.4% Zn+Pb (0.9% Zn and 1.5% Pb) and 8 g/t Ag, and 25-3552-33 returned three intervals of mineralization up to 0.82m of 2.9% Zn+Pb (1.1% Zn and 1.8% Pb) and 7 g/t Ag. These zones of mineralization are narrower and weaker than those at the main discovery trend but generally in line with recent holes drilled further to the ENE (see holes G11-3552-24, -26 and 28 in news release dated 25-Mar-2025). Disseminated copper mineralization, as well as, mineralized veins and fractures, is strengthening towards the north, suggesting massive sulphide mineralization may be present further north (see northern-most purple line in Exhibit 4). A second mineralized trend is also emerging to the south where the interpreted Cu-Ag rich 'feeder' fault pierced by drilling along the main discovery trend appears to correlate with mineralization approx. 350m along strike to the ENE, intersected in G11-3552-08 (see solid and dashed purple lines in Exhibit 4). Drilling is ongoing in the NE area to test the above targets.

Copper-Silver Target

Today's results add to a growing body of evidence that support the interpretation of a Cu-Ag 'feeder' fault parallel to and spatially associated with the main Zn-Pb-Ag discovery at Ballywire (see Exhibit 4). With up to 10.45% Cu and 1,880 g/t Ag in a mineralized horizon near a steeply dipping structure, mineralizing fluids are interpreted to have emanated from deeper in the sedimentary sequence (see Exhibit 5). Meanwhile, the stratigraphy of the region suggests that the Lower Limestone Shale horizon exists approximately 100-200m below the discovery horizon (base of the Waulsortian Limestone). This horizon hosts four well known Cu-Ag historic occurrences in the surrounding area (see Denison, Oola, Gortdrum and Tullacondra in Exhibit 8, located approx. 5km, 9km, 10km and 45km away from Ballywire, respectively).

These historic Cu-Ag occurrences can be interpreted as the eroded remnants of originally more vertically extensive mineralizing systems, likely representing the roots of stratigraphically higher Zn-Pb-Ag mineralization. At Ballywire, the mineralizing system has the potential to be much larger than its neighbouring occurrences (based on a relatively larger footprint to date); additionally, any Cu-Ag mineralization would notionally be intact below the existing Zn-Pb-Ag mineralization.

Given the compelling nature of this exploration model, Group Eleven added a third rig and began drilling this deeper Cu-Ag target this week.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit4_550.jpg

Exhibit 4. Plan Map Showing Interpreted Cu-Ag 'Feeder' at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit4.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit5_550.jpg

Exhibit 5. Cross-Section Showing Hypothesized Cu-Ag Mineralization in the Lower Limestone Shale

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit5.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit6_550.jpg

Exhibit 6. Oblique 3D View of Cu-Ag Mineralization at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit6.jpg

Note: Bodies shown (calcite, Zn-Pb-Ag and Cu-Ag) are not constrained by any grade cut-off and are meant for illustrative purposes only

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit7_550.jpg

Exhibit 7. Regional Gravity at Ballywire Showing 6km Long Prospective Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit7.jpg

Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_exhibit8_550.jpg

Exhibit 8. Regional Map of Ballywire Discovery and Surrounding Cu-Ag Historic Occurrences

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit8.jpg

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.42m to 1.3m with the majority of samples in the 0.79m to 0.99m range. The half-core samples are bagged, labelled and sealed at Group Elevens core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

APPENDIX - CORE PHOTOS
COPPER-SILVER ZONE IN HOLE 25-3551-31
(With Key Assay Results and Brief Descriptions of Key Mineralogy)

Core Boxes 103-105

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_009.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_009full.jpg

Core Boxes 106-108

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_010.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_010full.jpg

Core Boxes 109-111

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_011.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_011full.jpg

(1) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_012.jpg

Above: Dolomitized Waulsortian Limestone, cross-cut by sulphide bearing veins (suspected tennatite-tetrahedrite, chalcopyrite and/or pyrite)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_012full.jpg

(2) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_013.jpg

Above: Suspected tennantite/tetrahedrite (grey), chalcopyrite and pyrite (yellow) and calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_013full.jpg

(3) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_014.jpg

Above: Chalcopyrite with some pyrite (yellow) and suspected tennantite/tetrahedrite (grey), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_014full.jpg

(4) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_015.jpg

Above: Semi-massive chalcopyrite and pyrite (yellow), galena (reflective grey)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_015full.jpg

(5) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_016.jpg

Above: Waulsortian Limestones (grey), calcite (white), pyrite and chalcopyrite (yellow)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_016full.jpg

(6) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_017.jpg

Above: Suspected tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_017full.jpg

(6a) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_018.jpg

Above: Suspected tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_018full.jpg

(7) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_019.jpg

Above: Suspect tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_019full.jpg

(8) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_020.jpg

Above: Chalcopyrite (yellow), suspected tennantite/tetrahedrite (grey), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_020full.jpg

(9) Close-Up Core Photo

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_021.jpg

Above: Fault zone (juxtaposing sub-Waulsortian lithologies against Waulsortian Limestone)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_021full.jpg

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pan American Silver Announces Results of Annual General and Special Meeting

Pan American Silver Announces Results of Annual General and Special Meeting

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reported the voting results from its annual general and special meeting of shareholders held on May 7, 2025, in Vancouver, British Columbia (the "Meeting"). Each of the matters voted upon at the Meeting are described in detail in the Company's Management Information Circular dated March 17, 2025, which is available on the Company's website at https://www.panamericansilver.com/invest/financial-reports-and-filings/ .

A total of 248,138,835 common shares were represented at the meeting, being 68.52% of the Company's issued and outstanding common shares as at the record date. Shareholders voted in favour of all matters brought before the Meeting, including setting the number of directors at nine, the election of management's nominees as directors, the appointment of auditors for the ensuing year, and the acceptance of the Company's approach to executive compensation, known as "say-on-pay".

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Significant intercepts of gold and copper show Golden Eye emerging as a highly promising new resource prospect

Significant intercepts of gold and copper show Golden Eye emerging as a highly promising new resource prospect

Chibougamau Copper-Gold Project, Canada

HIGHLIGHTS:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Pan American Silver Reports Unaudited First Quarter 2025 Results

Pan American Silver Reports Unaudited First Quarter 2025 Results

Basic Earnings of $0.47 per Share

All amounts expressed in U.S. dollars unless otherwise indicated. Unaudited tabular amounts are in millions of U.S. dollars and thousands of shares, options, and warrants except per share amounts and per ounce amounts, unless otherwise noted.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×