VANCOUVER, BC, Sept. 10, 2020 /CNW/ - Group Eleven Resources
Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or
the "Company") is pleased to announce that it has commenced
drilling at the Stonepark zinc project ("Stonepark") in the
Republic of Ireland. Stonepark is
a joint venture between Group Eleven (76.56% interest) and Arkle
Resources PLC (23.44% interest). Plans for follow-up drilling at
the Company's Carrickittle zinc prospect ("Carrickittle")
located on the 100%-interest PG West zinc project in Ireland are nearing completion and will be
announced over the next few weeks.
Highlights:
- Drill program at Stonepark consists of two step-out holes,
planned to total approximately 810 metres (360 metres and 450
metres, respectively)
- Holes will test extensions of the Stonepark Mineral Resource
Estimate ("MRE")
- Stonepark MRE totals 5.1 million tonnes grading 8.7% zinc
and 2.6% lead (11.3% combined) in the Inferred Category (see
news release dated April
17th, 2018), located approximately one kilometre
west of the Pallas Green zinc-lead deposit1
"We are excited to start drilling at Stonepark and look forward
to updating the market on plans for follow-up drilling at
Carrickittle in a few weeks," stated Bart
Jaworski, CEO. "The Limerick basin is proving to be a very
prospective zinc-lead camp and we look forward to progressing
exploration in the near-term."
Stonepark Zinc Project, Ireland
The Stonepark project is located in the Limerick basin, in
south-western Ireland (see
Exhibit 1). Stonepark is adjacent to the Company's
100%-interest PG West project (which hosts the Carrickittle zinc
prospect) and Glencore's Pallas Green project (which hosts the
Pallas Green zinc-lead deposit1).
Other Ongoing and Upcoming Drill Programs
At Carrickittle, the Company recently announced the discovery of
high-grade zinc-lead mineralization (hole G11-2840-04 intersected
10.3 metres of 14.6% zinc, 5.0% lead (19.6% combined) and 43 g/t
silver, interpreted to be approximately true width, starting at
56.3 metres downhole; see news release dated July 6th, 2020). Plans for follow-up
drilling are nearing completion and will be announced over the next
few weeks.
On its regional targets within the remainder of its PG West
project (see news release dated May
28th, 2020), Group Eleven has now finished
drilling and results are expected over the coming few weeks, once
laboratory analyses are received, compiled and interpreted.
Tullacondra Licenses Granted
The Company is also pleased to note that it has been granted
prospecting licenses covering the Tullacondra copper-silver
prospect, located in the general PG West project area (see
Exhibit 1 and news release dated April 22nd, 2020).
Qualified Person
Technical information in this news release has been approved by
David Furlong, P.Geo., Chief
Operating Officer, and 'Qualified Person' as defined under Canadian
National Instrument 43-101.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) and (FRA:
3GE) is a mineral exploration company focused on advanced stage
zinc exploration in Ireland.
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
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.
1 Resources and Reserves Report
(Glencore, December 31, 2019) – 45.4 million tonnes of 7% Zn + 1%
Pb (Inferred)
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SOURCE Group Eleven Resources Corp.