With Glencore and Michael Gentile as the two largest shareholders, Group Eleven Resources (TSXV:ZNG) offers lucrative investment opportunities through zinc exploration in Ireland. The company's project portfolio encompasses the PG West and Stonepark projects. PG West and Stonepark are contiguous, forming the largest exploration position in the Limerick region, renowned for its zinc potential. Group Evelen's Ballywire discovery, a significant new finding in 2022, has demonstrated the presence of a high-grade mineralized system making it a potentially transformative asset for the company.
The close alignment with Glencore provides Group Eleven with both industry expertise and a collaborative advantage, further enhanced by Glencore's presence on Group Eleven’s board. This strategic partnership reflects confidence in Group Eleven’s potential within Ireland’s prolific zinc landscape.
The PG West and Stonepark projects together span an extensive ground area, creating a formidable position in the Limerick region. This strategic region features the Limerick Volcanic Complex, hosting the second largest zinc deposit discovered to date in Ireland, Glencore’s Pallas Green deposit.
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Group Eleven’s new high-grade zinc discovery, its strong shareholders, and infrastructure-rich jurisdiction present a compelling investment case. With Glencore and Michael Gentile as the two largest shareholders, the company is well-positioned to leverage its discoveries into high-return opportunities.
Group Eleven Resources (TSXV:ZNG) is a Canadian mineral exploration company highly regarded for its focus on zinc exploration in Ireland. Group Eleven’s current project portfolio encompasses two principal assets: the PG West and Stonepark projects. PG West and Stonepark are contiguous, forming the largest exploration position in the Limerick region, renowned for its zinc potential. In addition, the company’s Ballywire discovery, a significant new finding in 2022, has demonstrated the presence of a high-grade mineralized system making it a potentially transformative asset for the company.
Zinc is a critical metal for the modern economy, used extensively for galvanizing in infrastructure projects, green technologies and increasingly in grid-scale energy storage. Amid global shifts toward renewable energy, zinc demand is projected to surge due to its applications in battery technology, particularly zinc-air and zinc-ion batteries, which are emerging as viable alternatives to lithium-based solutions for large-scale energy storage. This advantage in energy storage could significantly drive demand for zinc in the coming years, especially as nations accelerate infrastructure investments and seek energy security through diversified, sustainable technologies. With global refined zinc inventories at historical lows, prices are expected to remain buoyant, providing favorable conditions for new projects like Group Eleven’s portfolio in Ireland.
Ireland has a robust track record spanning over 60 years of successful zinc production, which has made it a prime destination for global mining investment. The country ranks as one of the most mineral-rich areas for zinc worldwide, housing some of the world’s largest deposits, such as the Tara mine, which has been operational for more than five decades. Ireland also ranks high on the Fraser Institute's Mining Survey, noted for its favorable policies for mining investment. This standing makes the country not only a strategic base for Group Eleven but also a point of attraction for global mining giants like Glencore, which holds a 17.1 percent stake in Group Eleven, as well as South32, Teck and Boliden.
The close alignment with Glencore provides Group Eleven with both industry expertise and a collaborative advantage, further enhanced by Glencore's presence on Group Eleven’s board. This strategic partnership reflects confidence in Group Eleven’s potential within Ireland’s prolific zinc landscape.
The PG West and Stonepark projects together span an extensive ground area, creating a formidable position in the Limerick region. This strategic region features the Limerick Volcanic Complex, hosting the second largest zinc deposit discovered to date in Ireland, Glencore’s Pallas Green deposit.
PG West holds substantial promise driven by the Ballywire discovery in 2022, which introduced a new high-grade zinc-lead-silver find contained within a 6 km by 2 km prospective area. The drill results have identified robust mineralization extending over a significant distance of 2.6 kilometres to date, with assays reporting high-grade values up to 40.8 percent zinc, 1,440 grams per tonne (g/t) silver, marking it as one of the most impactful findings in Irish zinc exploration in over a decade.
PG West’s Ballywire discovery marks an inflection point for the company. The discovery hole was announced in September 2022, characterized by massive sulphide zinc-lead-silver mineralization over substantial widths. Drilling efforts have identified multiple intercepts with notable thicknesses and grades. Located only 20 kilometers from the Pallas Green deposit, Ballywire has potential for not only significant tonnage and grade but also extensive synergy value.
Discovery at Ballywire showed high-grade massive sulphides including 6.9 m of 15.4 percent zinc and lead and 160 g/t silver within; a more recent hole drilled approximately 500 m along strike intersected 29.6 m of 10.6 percent zinc and lead and 78 g/t silver.
To date, 37 holes have been drilled at Ballywire, all mineralized, over a strike of 2.6 kilometres. As the company keeps stepping out towards the northeast, it has been finding increasing intensity of grades and thicknesses in the form of flat lying zinc-rich massive sulphide horizons. The company has two rigs turning on Ballywire and ample cash to continue drilling for months to come. Four gravity high anomalies exist along a six-kilometre trend at Ballywire and the above drilling has only tested one of them. With three more gravity anomalies remaining to test, this prospective six-kilometre trend is increasingly looking like the next major discovery in Ireland.
Outside of Ballywire, the company is focussed on one other big target. The Carrickittle West prospect, spanning about 11 kilometres, is located predominantly within the 76.56%-owned Stonepark project, and to a small degree, at its contiguous 100%-owned PG West project. The company is targeting a ‘Pallas Green lookalike’ located only a few kilometres away from Glencore’s Pallas Green deposit. The target is located on the opposite side of an oval-shaped volcanic complex which hosts the Pallas Green deposit on its north side. Pallas Green deposit represents one of the largest undeveloped zinc deposits in the world, hosting an inferred 45 million tonnes at an average grade of 8.4 percent combined zinc and lead. Adjacent to Pallas Green, the company’s Stonepark deposit hosts an inferred resource of 5.1 million tonnes at an average of 11.3 percent zinc and lead. Similar to Ballywire, any exploration success at Carrickittle West would have immediate synergy potential in the camp.
Bart Jaworski, based in Ireland, has been the chief executive officer and a director of Group Eleven Resources since incorporation in 2015. He has over 25 years’ experience in the mining industry, commencing his career as an exploration geologist for over six years followed by 12 years as a mining analyst at Raymond James in Vancouver and then J & E Davy in Dublin. During his time as an exploration geologist, he was involved in properties located in Canada, Russia and Costa Rica, and was associated with the early stages of the Coffee Creek gold discovery in the Yukon. Jaworski has a Bachelor of Science (Hons) in Geology from the University of British Columbia.
Michael Gentile 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. He is currently a director of Northern Superior Resources, OnGold, Radisson Mining Resources, Roscan Gold, and Solstice Gold. He is a strategic advisor to Northisle Copper and Gold. He co-founded Bastion Asset Management in January 2022, a rapidly growing money management firm in Montreal with over $425 million in assets under management, focused on small to mid-cap equities in the USA and Canada. Gentile was previously a vice-president and senior portfolio manager with Formula Growth, where he worked from 2002 to 2018.
Gatlin Smeijers is Glencore’s appointee to the Group Eleven board. He is a corporate and regulatory lawyer and member in good standing of the Law Society of Ontario. Prior to joining Glencore in 2022, Smeijers practiced law for 10 years at leading Canadian law firms. He holds a Juris Doctor from Queen’s University and a Bachelor of Applied Science in Geological Engineering from the University of Waterloo, where he currently teaches Engineering Law and Ethics.
Dr. Mark Holdstock is a professional geologist with over 30 years exploration experience including in Noranda, Billiton, Outokumpu, Boliden and Tara Mines. At Tara, he led the team that discovered the 20+ Mt SWEX extension to the world class Navan zinc-lead ore body in Ireland. Holdstock has published a number of academic papers on carbonate-hosted zinc deposits. Prior to joining Group Eleven in 2018, Holdstock was managing director at Ireland-based Aurum Exploration Services, a position he held since 2005.
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.
He is currently a director of Northern Superior Resources (SUP), OnGold (ONAU) Radisson Mining Resources (RDS), Roscan Gold (ROS) and Solstice Gold (SGC), and a Strategic Advisor to Northisle Copper and Gold (NCX).
Michael recently co-founded Bastion Asset Management in January 2022, a rapidly growing money management firm in Montreal with over $425 million in assets under management, focused on small to mid-cap equities in the USA and Canada. Michael was previously a Vice President and Senior Portfolio Manager with Formula Growth Limited where he worked from 2002 to 2018.
"On behalf of the Company, we are delighted to welcome Michael to the board" stated Bart Jaworski, CEO. "Being the second largest shareholder of the Company, Michael has been, not only a very big supporter of Group Eleven over the last four years but also, an instrumental part in helping the Company grow its market audience and lower its cost of capital. This has significantly bolstered our funding abilities which were so critical in making the recent Ballywire discovery. Having Michael on the Board, will bring additional capital markets capability to the Company at a time when the Ballywire discovery is increasingly showing signs of a major new zinc discovery in Ireland."
Michael Gentile stated "I made my initial investment in Group Eleven in 2020, due to the fact that there was already over 50 million tonnes of zinc-equivalent resources in the camp and that there was a compelling geological picture that there was much more to discover, with Group Eleven holding a commanding land position and a strong technical team capable of unlocking its potential.
Over the past two years my conviction in the potential of Group Eleven has increased significantly due to the Ballywire discovery, which in my view has potential to be one of the most important new discoveries in Ireland over last 20 years.
Group Eleven is now very well positioned to take the Company to the next level and as the Company's second largest shareholder, holding over 16 percent of the shares in the Company, I look forward to helping do my part to ensure that Group Eleven realizes its full potential in the years ahead."
In accordance with the Company's Stock Option Plan, Mr. Gentile has been granted 150,000 incentive stock options with an exercise price of $0.19 per share, a vesting period of two years from the day of granting and an expiry of five years ("Options").
The Company also announces that, in addition to the above, it has granted Options to officers, employees and the remaining directors of the Company (14 individuals altogether) to purchase up to 1,785,000 common shares in the capital stock of the Company (on same terms as above). All Options granted are subject to regulatory approval. Separately, three non-executive directors of the board have each received 100,000 deferred share units ("DSUs") at a deemed price of $0.20 per DSU for services rendered in 2023. All currency in this news release is denominated in Canadian dollars.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 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:
The Company's two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). 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
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "plan," "intend" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the use of funds from the warrant exercises, the drill campaigns at Ballywire and Carrickittle West and the extent of drilling at Ballywire in 2024.
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risk that the Company will not be able to use proceeds from the warrant exercises as currently anticipated, risks related to general economic and market conditions; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; and changes in national and local government regulation of mining operations, tax rules and regulations.
Although Group Eleven has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Group Eleven undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228733
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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.
Additional funds from the warrant exercises will allow the current two-rig drill campaign at Ballywire to continue at full capacity well beyond the end of 2024. Drilling this year at Ballywire currently totals 6,589m (including 5,320m reported to date and five holes pending assay results), with the expected total for the year to range between 7,500m and 8,000m. The Company will aim to keep the pace of drilling at Ballywire at similar or increased levels in 2025.
"We sincerely thank our shareholders for their continued support" stated CEO, Bart Jaworski. "We are very pleased to be able to keep drilling at Ballywire through the end of this year and comfortably into 2025. It's been over two years since our discovery hole at Ballywire and the footprint and intensity of the mineralized system intersected to date continues go from strength to strength. With the recently announced robust massive sulphide zone emerging in the northeast, a lot more step-out drilling is yet to be done beyond our current 2.6km drilled corridor, along our 6km prospective trend. Drill progress at Ballywire continues to be on schedule and we look forward to providing the next drill results in the near term."
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.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 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:
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
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "plan," "intend" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the use of funds from the warrant exercises, the drill campaigns at Ballywire and Carrickittle West and the extent of drilling at Ballywire in 2024.
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risk that the Company will not be able to use proceeds from the warrant exercises as currently anticipated, risks related to general economic and market conditions; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; and changes in national and local government regulation of mining operations, tax rules and regulations.
Although Group Eleven has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Group Eleven undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228148
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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:
"Our recent drilling at Ballywire has intersected continuous, flat-lying, zinc-rich massive sulphide lenses at the base of the Waulsortian limestone, an important development that further aligns the project with classic Irish-type zinc deposits," stated Bart Jaworski, CEO. "We have hit these massive sulphides over an open 360 metres of strike and mineralization appears to be widening, intensifying and getting shallower as we move northeast."
"Our immediate priority is to further delineate this new, flat-lying, massive sulphide zone, while we also aim to grow the broader 2.6km footprint of the discovery and follow up on silver and copper potential beneath the zinc and lead rich horizons. Our drill program continues with two rigs and further drill results will be released over the coming weeks as we continue to explore Ballywire's 6km long prospective trend."
Exhibit 1. Cross-Section A-A' of G11-3552-18 (50m Step-Out NNW) at Ballywire
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Note: G11-3552-20 and -22 is completed with assay pending; 50m step-out refers to the distance from G11-3552-16
Exhibit 2. Plan Map Showing New Drilling (G11-3552-18) at Ballywire
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Recent Hole 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 36 holes drilled and reported by Group Eleven to date, the most recent step-out hole (G11-3552-18) of the 2024 program is reported today (see Exhibits 1 to 6).
Exhibit 3. Summary of Assays from G11-3552-18 at Ballywire
| Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) |
| G11-3552-18 | 226.90 | 263.45 | 36.55 | 4.81 | 1.58 | 6.39 | 26.3 |
| Incl. | 226.90 | 240.82 | 13.92 | 3.97 | 0.85 | 4.82 | 16.7 |
| Incl. | 226.90 | 233.93 | 7.03 | 4.52 | 1.06 | 5.58 | 16.1 |
| Incl. | 226.90 | 231.68 | 4.78 | 4.74 | 1.30 | 6.04 | 16.8 |
| And | 237.50 | 240.82 | 3.32 | 6.17 | 0.81 | 6.98 | 23.2 |
| And | 245.48 | 263.45 | 17.97 | 6.49 | 2.54 | 9.03 | 40.0 |
| Incl. | 248.44 | 263.45 | 15.01 | 7.17 | 2.95 | 10.12 | 45.4 |
| Incl. | 247.75 | 259.54 | 11.79 | 8.05 | 3.52 | 11.57 | 48.1 |
| Incl. | 255.59 | 259.54 | 3.95 | 11.42 | 8.36 | 19.78 | 103.6 |
| Incl. | 257.50 | 259.26 | 1.76 | 15.64 | 14.72 | 30.36 | 184.4 |
Note: True width of the overall mineralized package above is estimated at approx. 90-100% of the intersected interval
High-grade mineralization from G11-3552-18 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).
Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, 'other mineralization', predominantly observed over the last two years and dominated by variably dipping massive sulphides, as well as, vein-hosted and disseminated mineralization (see Exhibit 2). Both styles occur at or near the base of the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.
Exhibit 4. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire
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Looking forward, five drill holes (G11-3552-19 to -23; see Exhibit 4) have recently been completed with assay results expected over the coming weeks. Additionally, two other holes (-24 and -25) are in-progress, located northeast of G11-3552-18 and northeast of G11-3552-19, respectively. Exhibit 4 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly mineralized drill intercepts (open in all directions).
Exhibit 5. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend
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Notes to Exhibit 6: (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.
Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest)
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Third Party Agreement
The Company has entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network ("INN"). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. For the 6-month term of the agreement, unless terminated earlier, INN will provide advertising to increase awareness of Group Eleven. INN does not provide Investor Relations or Market Making services. The cost of the campaign is C$22,900 + GST, payable in cash in two instalments (C$11,450+GST by 17-Oct-2024 and C$11,450+GST by 17-Jan-2024). INN currently holds no securities in Group Eleven.
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:
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.sedarplus.ca 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/227382
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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."
Mr. Smeijers is a corporate and regulatory lawyer and member in good standing of the Law Society of Ontario. Prior to joining Glencore in 2022, Mr. Smeijers practiced law for 10 years at leading Canadian law firms. Mr. Smeijers holds a Juris Doctor from Queen's University and a Bachelor of Applied Science in Geological Engineering from the University of Waterloo, where he currently teaches Engineering Law and Ethics.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 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/226246
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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
"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."
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.
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
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.
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
| Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) | Cu (%) |
| G11-3552-17 | 143.30 | 251.80 | 108.50 | 2.76 | 0.71 | 3.46 | 25.1 | 0.04 |
| Incl. | 143.30 | 157.45 | 14.15 | 5.79 | 1.61 | 7.39 | 66.1 | 0.01 |
| Incl. | 151.85 | 157.45 | 5.60 | 10.54 | 2.55 | 13.09 | 116.2 | 0.02 |
| And | 164.90 | 168.11 | 3.21 | 3.42 | 0.64 | 4.06 | 17.2 | 0.01 |
| And | 174.47 | 192.05 | 17.58 | 2.47 | 0.67 | 3.14 | 13.7 | 0.01 |
| Incl. | 181.87 | 192.05 | 10.18 | 3.08 | 0.92 | 4.01 | 18.1 | 0.01 |
| Incl. | 185.56 | 192.05 | 6.49 | 3.11 | 1.26 | 4.38 | 20.8 | 0.01 |
| Incl. | 185.56 | 189.34 | 3.78 | 3.50 | 1.61 | 5.11 | 25.6 | 0.01 |
| And | 210.02 | 235.94 | 25.92 | 5.08 | 1.10 | 6.19 | 20.7 | 0.03 |
| Incl. | 210.02 | 222.16 | 12.14 | 6.68 | 0.52 | 7.20 | 20.1 | 0.01 |
| Incl. | 210.02 | 216.18 | 6.16 | 10.56 | 0.62 | 11.18 | 30.2 | 0.02 |
| Incl. | 210.02 | 214.22 | 4.20 | 14.39 | 0.78 | 15.17 | 34.3 | 0.02 |
| And | 229.20 | 234.09 | 4.89 | 6.81 | 2.84 | 9.65 | 39.5 | 0.07 |
| And | 241.17 | 251.80 | 10.63 | 1.43 | 0.87 | 2.30 | 76.0 | 0.29 |
| Incl. | 242.09 | 245.70 | 3.61 | 1.27 | 1.83 | 3.10 | 100.8 | 0.45 |
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
| Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) | Cu (%) |
| G11-3552-14 | 216.41 | 233.50 | 17.09 | 1.05 | 0.24 | 1.28 | 3.6 | - |
| Incl. | 216.41 | 224.34 | 7.93 | 1.55 | 0.27 | 1.82 | 5.6 | - |
| Incl. | 216.41 | 221.95 | 5.54 | 1.76 | 0.29 | 2.05 | 6.7 | - |
| Incl. | 216.41 | 219.22 | 2.81 | 2.65 | 0.40 | 3.05 | 10.4 | - |
| G11-3552-15 | 236.49 | 294.82 | 58.33 | 1.09 | 0.83 | 1.92 | 18.6 | - |
| Incl. | 236.49 | 273.16 | 36.67 | 1.58 | 1.29 | 2.87 | 11.6 | - |
| Incl. | 241.11 | 244.87 | 3.76 | 4.50 | 1.43 | 5.94 | 17.0 | - |
| And | 249.42 | 253.13 | 3.71 | 3.16 | 2.04 | 5.19 | 13.1 | - |
| And | 268.65 | 273.16 | 4.51 | 1.85 | 2.67 | 4.52 | 27.5 | - |
| And | 290.96 | 291.45 | 0.49 | 4.68 | 0.47 | 5.15 | 743.0 | 2.28 |
| G11-3552-16 | 254.52 | 279.25 | 24.73 | 2.93 | 0.74 | 3.67 | 12.2 | - |
| Incl. | 254.52 | 263.88 | 9.36 | 6.22 | 1.41 | 7.63 | 24.6 | - |
| Incl. | 255.52 | 262.91 | 7.39 | 7.38 | 1.70 | 9.08 | 28.6 | - |
| Incl. | 255.52 | 259.14 | 3.62 | 9.79 | 1.92 | 11.71 | 39.3 | - |
| G11-2654-03 | 278.23 | 283.91 | 5.68 | 0.21 | 0.04 | 0.26 | 1.6 | - |
| Incl. | 282.70 | 283.91 | 1.21 | 0.70 | 0.13 | 0.83 | 4.7 | - |
| And | 297.14 | 306.63 | 9.49 | 0.13 | 0.04 | 0.16 | 0.7 | - |
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.
Exhibit 7. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend
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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.
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:
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
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The zinc price saw increasing downward pressure into July, and was at US$2,685 on August 1.
Zinc was facing carried-over pressure from 2023 as the year began, still feeling the effects of a surplus.
In 2023's fourth quarter, a number of zinc miners were forced to close or curtail output as high costs and low prices made production unsustainable. However, these adjustments had little impact, and by the end of Q1, London Metal Exchange (LME) zinc stocks stood at 270,525 MT, up from 233,235 MT at the start of the year.
LME zinc stocks had only marginally decreased to 261,850 MT by the end of June.
The buildup in zinc stockpiles this year is supported by data released on June 19 from the International Lead and Zinc Study Group (ILZSG). It shows that refined metal production outpaced zinc demand from January to April. Refined metal production came to 4.52 million MT for the period, with only 4.34 million MT of demand in the market.
Even though refined metal increased year-on-year, mine production was down during the first four months of the year, with the ILZSG reporting that 3.76 million MT were extracted compared to 3.89 million MT during year-ago period.
This oversupply has had trickle-down effects, with treatment and refining charges collapsing at smelting operations.
In a May 9 report, Fastmarkets states that treatment charges at Chinese smelters fell precipitously during the first four months of the year, dropping from US$250 per MT in January to only US$30 at the end of April. This caused some smelters to cut back production or switch to care and maintenance.
As a result, Chinese imports of zinc concentrate fell 24 percent year-on-year through the first four months of the year, with 1.18 million MT flowing in versus 1.54 million MT during the same period in 2023. Conversely, imports of refined material were 143,000 MT — more than four times the 35,000 MT imported in the beginning of 2023.
“A large concentrates deficit and falling treatment charges have defined the zinc market in 2024 H1. The main impact of this has been felt by Chinese zinc smelters, many of whom have cut back due to issues with sourcing raw materials and a lack of profitability,” Helen O’Cleary, zinc market specialist with CRU Group, wrote to the Investing News Network.
Falling treatment charges provided opportunities for some companies to take advantage of lower costs and sign longer-term deals. In early April, Canadian mining giant Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) was able to strike a deal with Korea Zinc (KRX:010130) that will see Teck pay US$165 per MT for treatment for treatment charges — the lowest amount since 2021 and a 40 percent discount over 2023.
While zinc has faced headwinds in 2024, a rally saw the metal reach US$3,057 on May 20, a 15 month high.
The surge in pricing came alongside broad gains in commodities and was due to a number of factors.
“Risk-on investor buying led to a sharp rally in zinc prices in April and May, as bullish sentiment on future copper demand related to the energy transition and AI data centres boosted the LME basket of metals,” O’Cleary said.
Other factors that contributed to the run were rule changes in the Chinese market designed to boost its beleaguered housing sector. The changes included the easing of mortgage requirements, allowing local governments to purchase unsold apartments and convert them to social housing, plus the establishment of a 300 billion yuan re-lending facility.
By the end of the quarter, the Chinese housing market had failed to improve — in fact, the slowdown in the sector had accelerated, with the value of new home sales in July slipping 19.7 percent from the same period one year earlier.
Zinc's price rally also came alongside increasing speculation about interest rate cuts from the US Federal Reserve. Lower rates are expected to boost homebuilding, construction and manufacturing in the US, especially in markets connected to the energy sector, where supply remains tight and demand is increasing.
As it is used to make galvanized steel, increased demand from the real estate, construction and automotive sectors could provide a critical boost to zinc demand and prices.
However, ultimately for zinc the fundamental conditions weren’t there to sustain higher prices.
“Zinc’s price was briefly lifted above $3,100/t, but overshot fundamentals, in our view. While we expect the concentrates deficit to be supportive of zinc’s price this year, relatively high refined stocks and a wide contango point to a refined market that remains well supplied,” O’Cleary explained.
The conditions for zinc aren’t expected to see an immediate rebound.
With investors now considering the impact of a near-term recession in the US following a July jobs report that showed an unexpected weakening in the country's labor market, commodities markets may not find the support needed for gains.
In the meantime, O’Cleary sees the zinc price remaining flat, with supply staying restricted as a buildup in stockpiles begins to work through the market and fundamentals become more balanced.
“We expect zinc’s price to trade on either side of US$3,000/t in H2," she commented.
"A still-tight concentrate market will continue to negatively impact Chinese smelter profitability, and this could lead to an increase in China’s refined zinc imports,” O’Cleary added.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Trevali Mining Corporation (OTCQX: TREVF) (the "Company") completed a private sale transaction on February 28, 2024 (the "Sale"), pursuant to which the Company disposed of 5,750,000 common shares ("Common Shares") in the capital of Prism Resources Inc. ("Prism") for an aggregate sale price of CAD$100,000 (approximately CAD$0.0174 per share).
On August 19, 2022, the Company sought and obtained an order (the "Initial Order") from the Supreme Court of British Columbia (the "Court") under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"), for an order which provides, among other things, a stay of creditor claims and proceedings. Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed as the monitor of the Company (the "Monitor").
The Sale was completed by the Monitor in the name of and on behalf of the Company pursuant to the enhanced powers provided to the Monitor by the Court.
Immediately prior to the Sale, the Company directly held 5,750,000 Common Shares of Prism representing approximately 11.1% of the issued and outstanding Common Shares of Prism (calculated on a non-diluted basis as at November 23, 2023, using the information set forth in Prism's management discussion and analysis for the nine month period ended September 30, 2023 dated November 23, 2023).
Immediately following the Sale, the Company does not own or exercise control over any Common Shares of Prism.
Following the completion the Sale, the Company ceased to own, control or have control over any Common Shares of Prism. The Company may in the future take such actions in respect of the Prism's securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Prism through open market purchases or privately negotiated transactions.
A copy of the early warning report relating to the Sale will be available under Prism's profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting the Monitor (email: Trevali@fticonsulting.com or telephone: +1-877-294-8998).
About Trevali Mining Corporation
All inquiries regarding the Company and the CCAA Proceedings should be directed to the Monitor. Information about the Company's CCAA Proceedings, including all court orders, are available on the Monitor's website (http://cfcanada.fticonsulting.com/trevali/).
For further details on the Company, readers are referred to the Company's regulatory filings on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199767
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