Group Eleven Cuts 108.5m of Mineralization in Large  Step-Out at Ballywire, Incl. 5.6m of 13% Zn+Pb, 116 g/t Ag; 4.2m of 15% Zn+Pb, 34 g/t Ag; and 4.9m of 10% Zn+Pb, 39 g/t Ag

Group Eleven Cuts 108.5m of Mineralization in Large Step-Out at Ballywire, Incl. 5.6m of 13% Zn+Pb, 116 g/t Ag; 4.2m of 15% Zn+Pb, 34 g/t Ag; and 4.9m of 10% Zn+Pb, 39 g/t Ag

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from the five most recent step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlight Intersections

  • G11-3552-17 (a 360m step-out to the NE): 108.5m of 3.5% Zn+Pb (2.8% Zn and 0.7% Pb) and 25 g/t Ag (starting from 143m downhole), including:
    • 5.6m of 13.1% Zn+Pb (10.5% Zn and 2.6% Pb) and 116 g/t Ag and
    • 4.2m of 15.2% Zn+Pb (14.4% Zn and 0.8% Pb) and 34 g/t Ag and
    • 4.9m of 9.7% Zn+Pb (6.8% Zn and 2.8% Pb) and 39 g/t Ag and
    • 3.6m of 3.1% Zn+Pb (1.3% Zn and 1.8% Pb), 101 g/t Ag and 0.45% Cu
  • G11-3552-16 (a 100m step-out to the NE): 24.7m of 3.7% Zn+Pb (2.9% Zn and 0.7% Pb) and 12 g/t Ag (starting from 254m), including:
    • 7.4m of 9.1% Zn+Pb (7.4% Zn and 1.7% Pb) and 29 g/t Ag
  • G11-3552-15 (a 360m step-out to the NE): 36.7m of 2.9% Zn+Pb (1.6% Zn and 1.3% Pb) and 12 g/t Ag (starting from 236m), including:
    • 3.8m of 5.9% Zn+Pb (4.5% Zn and 1.4% Pb) and 17 g/t Ag and
    • 3.7m of 5.2% Zn+Pb (3.2% Zn and 2.0% Pb) and 13 g/t Ag and
    • 4.5m of 4.5% (1.9% Zn and 2.7% Pb) and 27 g/t Ag
  • Two-rig drill program at Ballywire continues on schedule with the next assay results expected over the coming few weeks (three holes are currently completed with assays pending)

"We are excited that the high-grade footprint of the Ballywire discovery has leapt forward again," stated Bart Jaworski, CEO. "Today's drill results extend known high-grade mineralization at Ballywire by 360m along strike from 890m to 1,250m, and provide compelling evidence that mineralization is intensifying towards the shallower, northeastern portion of the discovery area. The 108.5m intercept announced today is particularly notable given high-grade zones occur throughout the interval."

"Together with historic hole 97-468-2 and our larger step-outs earlier this year, robust mineralization pierced by drilling at Ballywire extends over 2.6km, along a prospective trend of over 6km. Given today's additional intervals of significant massive sulphide, Ballywire is again showing signs of a major zinc-lead-silver discovery. With two rigs turning, we look forward to providing further drill results over the coming few weeks."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/224339_exhibit%201_550.jpg

Exhibit 1. Cross-Section A-A' of G11-3552-15 and -17 (360m Step-Out NE) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%201.jpg

Note: G11-3552-19 is completed with assay pending; G11-3552-21 is currently being drilled; 360m step-out refers to the distance of this fence of drilling from G11-3552-12.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/224339_exhibit%202_550.jpg

Exhibit 2. Plan Map Showing New Drilling at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%202.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/224339_exhibit%203_550.jpg

Exhibit 3. Cross-Section B-B' of G11-3552-16 (100m Step-Out Hole NE) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%203.jpg

Note: G11-3552-18, and -20 are completed with assays pending; G11-3552-22 is currently being drilled; 100m step-out refers to the distance of this fence of drilling from G11-3552-12.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/224339_exhibit%204_550.jpg

Exhibit 4. Cross-Section C-C' of G11-3552-14 (50m Step-Out North) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%204.jpg

Note: 50m step-out refers to the distance from G11-3552-14 to G11-3552-13

Exhibit 5. Summary of Assays from G11-3552-17 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-17143.30251.80108.502.760.713.4625.10.04
Incl.143.30157.4514.155.791.617.3966.10.01
Incl.151.85157.455.6010.542.5513.09116.20.02
And164.90168.113.213.420.644.0617.20.01
And174.47192.0517.582.470.673.1413.70.01
Incl.181.87192.0510.183.080.924.0118.10.01
Incl.185.56192.056.493.111.264.3820.80.01
Incl.185.56189.343.783.501.615.1125.60.01
And210.02235.9425.925.081.106.1920.70.03
Incl.210.02222.1612.146.680.527.2020.10.01
Incl.210.02216.186.1610.560.6211.1830.20.02
Incl.210.02214.224.2014.390.7815.1734.30.02
And229.20234.094.896.812.849.6539.50.07
And241.17251.8010.631.430.872.3076.00.29
Incl.242.09245.703.611.271.833.10100.80.45

 

Note: True width of the overall mineralized package above is estimated at approx. 80-100% of the intersected interval; mineralized intercepts from approx. 143m to 200m consist predominantly of a series of steep north-dipping veins, whereas mineralization from approx. 200m to 250m is dominated by flat-lying layers of sphalerite-dominate massive sulphide

Exhibit 6. Summary of Assays from G11-3552-14, -15 and -16 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-14216.41233.5017.091.050.241.283.6-
Incl.216.41224.347.931.550.271.825.6-
Incl.216.41221.955.541.760.292.056.7-
Incl.216.41219.222.812.650.403.0510.4-
G11-3552-15236.49294.8258.331.090.831.9218.6-
Incl.236.49273.1636.671.581.292.8711.6-
Incl.241.11244.873.764.501.435.9417.0-
And249.42253.133.713.162.045.1913.1-
And268.65273.164.511.852.674.5227.5-
And290.96291.450.494.680.475.15743.02.28
G11-3552-16254.52279.2524.732.930.743.6712.2-
Incl.254.52263.889.366.221.417.6324.6-
Incl.255.52262.917.397.381.709.0828.6-
Incl.255.52259.143.629.791.9211.7139.3-
G11-2654-03278.23283.915.680.210.040.261.6-
Incl.282.70283.911.210.700.130.834.7-
And297.14306.639.490.130.040.160.7-

 

Note: True width (as a % of the intersected interval) of the overall mineralized package is approx. 90-100% for G11-3552-14, 80-100% for G11-3552-15, 90-100% for G11-3552-16 and 90-100% for G11-2654-03

Most Recent Five Holes from 2024 Drill Campaign at Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, is a new zinc-lead-silver discovery (first announced Sept-2022). In addition to 31 holes drilled and reported by Group Eleven to date, the most recent five (5) step-out holes (G11-3552-14, -15, -16, -17, and G11-2654-03) of the 2024 program are reported today (see Exhibits 1 to 6).

High-grade mineralization from the above drill holes consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian limestone (see Exhibit 1).

In addition to the above, G11-2654-03 (testing the 'B' gravity anomaly) extended known mineralization approximately 370m to the southwest from the southwestern edge of the discovery area (see Exhibit 2). The hole returned anomalous mineralization along or near the base of the Waulsortian Limestone. This information coupled with a growing set of structural (fault location) data (see Exhibit 2), suggest mineralization may be faulted southwards in this portion of the Ballywire prospect. Further drilling to the south is warranted and planned for future campaigns.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/224339_exhibit%207_550.jpg

Exhibit 7. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%207.jpg

Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2023); (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/5685/224339_exhibit%208_550.jpg

Exhibit 8. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest) Projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/224339_exhibit%208.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.

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. (TSX.V: ZNG; OTCBB: GRLVF and FRA: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:

  • 3.3m of 12.5% Zn+Pb and 48 g/t Ag (G11-468-01)
  • 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
  • 6.1m of 11.4% Zn+Pb, 85 g/t Ag (G11-3552-13)
  • 5.6m of 13.1% Zn+Pb, 116 g/t Ag (G11-3552-17)

The Company's two largest shareholders are Glencore Canada Corp. (17.6% interest) and Michael Gentile (17.0%). 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.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224339

News Provided by Newsfile via QuoteMedia

ZNG:CC
Group Eleven Resources

Group Eleven Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Group Eleven Resources (TSXV:ZNG)

Group Eleven Resources


Keep reading...Show less
Group Eleven Announces Michael Gentile Joins Board of Directors of the Company

Group Eleven Announces Michael Gentile Joins Board of Directors of the Company

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that the board of directors has appointed Michael Gentile as a non-executive director of the Company.

Michael is considered one of the leading strategic investors in the junior mining sector, owning significant top five ownership stakes in over 20 small-cap mining companies.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Announces Exercise of Warrants and Expanded Drill Program at Ballywire

Group Eleven Announces Exercise of Warrants and Expanded Drill Program at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that it has received $749,438 from recent warrant exercises and that it has expanded the ongoing drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire") on the PG West Project ("PG West"), Republic of Ireland. All currency in this news release is denominated in Canadian dollars.

Since its announcement on August 28, 2024 stating that Group Eleven received $800,562 from the early exercise of 6,671,349 warrants (originally issued as part of a private placement which closed on July 30, 2020) each with an exercise price of $0.12 and expiring October 28, 2024 (the "Warrants"), the Company reports that it has since received a further $749,438 from the exercise of all remaining 6,245,318 Warrants. In total, the Company received proceeds of $1,550,000 from the exercise of 12,916,667 Warrants in 2024.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from a recent step-out hole of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Welcomes Gatlin Smeijers to the Board of Directors

Group Eleven Welcomes Gatlin Smeijers to the Board of Directors

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that Gatlin Smeijers has been appointed to the Board of Directors. Mr. Smeijers has been nominated by Glencore Canada Corporation (which owns 17.6% of the Company) and will replace Ken Klassen, who has stepped down from the Board. The Company would like to thank Mr. Klassen for his valuable insights and guidance over the past four years.

Bart Jaworski, CEO of Group Eleven, commented: "We are delighted to welcome Gatlin to the team and look forward to working with him to further grow shareholder value. Gatlin is an experienced and well-respected lawyer in the international and Canadian mining industries, with experience not only in regulatory and corporate law, but also in geological engineering."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zinc-mining figurines.

Fireweed Updates Macpass Resource Estimate, Adding Boundary Zone to Yukon Zinc Project

Fireweed Metals (TSXV:FWZ,OTCQX:FWEDF) announced an updated resource estimate for its Yukon-based Macmillan Pass (Macpass) project, making substantial additions to the asset's zinc holdings.

In a Wednesday (September 4) release, the company shared updated resource estimates for the project's Tom and Jason deposits, as well as maiden resource estimates for the Boundary Zone and End Zone deposits.

The entire Macpass resource estimate now encompasses 56 million metric tons at 7.27 percent zinc equivalent in the indicated category, and 48.48 million metric tons at 7.48 percent zinc equivalent in the inferred category.

Keep reading...Show less
Rolls of steel in a warehouse.

Zinc Stocks: 5 Biggest Canadian Companies in 2024

Zinc prices were mostly rangebound in 2023 as the market shifted into oversupply, and halfway through 2024 the metal isn't far off from where it began the year. However, experts agree its long-term fundamentals are healthy.

Many base metals have been hit by weakened demand over the past year due to sticky inflation and higher interest rates, and zinc is no exception. Zinc supply has also faced pressure from higher mining and refining costs, causing some major zinc mines and smelters to suspend operations, with more possible if the current economic situation continues. Once demand rebounds along with the economy, stunted demand may once again push zinc prices higher.

For investors interested in zinc, the Investing News Network has gathered the biggest TSX- and TSXV-listed zinc stocks by market cap. The list below includes zinc miners and explorers, as well as companies pursuing zinc as a secondary metal.

Keep reading...Show less
Blocks of zinc.

Zinc Price Update: H1 2024 in Review

2023 was volatile for zinc — as the bottom fell out of the market, it approached its lowest point since July 2020.

As 2024 began, the base metal's price was in the US$2,500 per metric ton (MT) range, but it quickly slid to its year-to-date low of US$2,300 on February 5. Though zinc saw gains through March, it ended Q1 relatively flat.

Q2 began with zinc at US$2,479, but it gained as momentum picked up across commodities markets. Zinc reached a year-to-date high of US$3,139 on May 21 before retreating to close the quarter at US$2,937 on June 28.

Keep reading...Show less
A stack of AU$100 bills.

Metals Acquisition to Invest in Polymetals as Company Plans Endeavor Mine Restart

Metals Acquisition (MAC) (NYSE:MTAL,ASX:MAC) has signed a strategic investment deal with Polymetals Resources (ASX:POL), which is working to restart the Endeavor silver-zinc-lead mine and processing plant.

The transaction will see MAC make an initial AU$2.5 million investment in Polymetals for a 4.31 percent interest in the company. An additional AU$2.5 million is on the table subject to several conditions outlined in a Monday (May 27) press release, including Polymetals securing enough funding to restart the mine and processing plant.

The companies will also have to enter into a water offtake agreement, as well as a tolling agreement for the treatment of zinc ore delivered to Polymetals by MAC. In addition, MAC will have to secure third-party consent for its plans.

Keep reading...Show less
A sign welcoming visitors to Boliden's Tara mine in Ireland.

Boliden Finalizes Agreement to Revive Europe's Largest Zinc Mine

After months of negotiations, Boliden (STO:BOL) has reached an agreementwith worker's unions and local management to reopen the Tara operation, which is Europe’s largest zinc mine.

Tara, operated by the Sweden-based mining company, is an underground zinc and lead mine with a production capacity of 2.6 million metric tons (MT) per year, making it the largest zinc mine in the continent.

Located in Navan, Ireland, the Tara mine's reopening follows its closure in July 2023 due to a combination of challenges, including unfavorable zinc price trends and operational hurdles.

Keep reading...Show less
Group Eleven Resources

Group Eleven Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×