VANCOUVER, BC, Sept. 7, 2021 /CNW/ - Group Eleven Resources
Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or
the "Company") is pleased to announce that a recent
220-metre step-out hole drilled at the Ballywire zinc prospect
("Ballywire") at its 100%-owned PG West project ("PG
West"), Ireland, intersected
3.30 metres of 13.6% zinc-equivalent ("ZnEq") within a wider
(>36-metre) mineralized intercept. This hole represents by far
the best results to date at Ballywire and suggests immediate
exploration potential over several kilometres in all directions,
most notably to the north and west.
Highlights:
- G11-468-1 intersected 3.30 metres of 10.1% zinc, 2.4% lead
(12.5% combined) and 48.3 g/t silver (13.6% ZnEq), including
massive sulphides, starting at 312-metres downhole, within a wider
(>36-metre) mineralized interval at the base of the Waulsortian
limestone (true width is estimated at 83%)
- This intercept represents a 220-metre step-out to the NNW from
historic drilling
- Mineralization is open for several kilometres in all
directions, most notably to the north and west
- Significant zinc mineralization is now intersected in four
consecutive holes defining a 900-metre long down-dip extent
along the base of the Waulsortian limestone, along an NNW
direction
- Importantly, the next nearest hole testing the target horizon
is located over one kilometre to the WNW of G11-468-1 and
hosts the second-best intercept at Ballywire (2.50 metres of
6.5% ZnEq, including 0.50 metres of 20.3% ZnEq), identifying
the intervening area as highly prospective and warranting immediate
follow-up
- Regionally, Ballywire is at the intersection of the Rathdowney
Trend (which hosts Lisheen and Galmoy historic zinc
mines1) and the Pallas Green Corridor (hosting
Glencore's Pallas Green zinc deposit2)
- The Company's Carrickittle prospect is located approximately 10
kilometres to the NW of Ballywire, along the Pallas Green
Corridor
"This is a significant breakthrough in the Company's
comprehensive search for a new zinc deposit in Ireland," stated Bart
Jaworski, CEO. "The above results demonstrate that
significant mineralization exists at Ballywire and that scant
historic drilling which managed to intersect mineralization, could
now be interpreted as potentially being on the margins of a larger,
more robust system. Mineralization is now consistently observed
over 900 metres down-dip and is open in all directions. The
next nearest hole testing the target horizon is located one
kilometre to the WNW of today's intercept and is strongly
mineralized. This suggests a very prospective intervening area
towards the shallowest part of the system. Today's results catapult
Ballywire into the same league as our Carrickittle prospect in
terms of exploration potential, warranting immediate
follow-up."
|
_________________________________
|
|
1 Lisheen zinc mine closed in 2015
(Vedanta) and hosted 2P Reserves (JORC) of 13.4 mln tonnes of 11.6%
Zn and 1.8% Pb, plus resources (in addition to reserves) of 4.5
million tonnes of 9.9% Zn and 1.4% Pb (as at end of 2002; Fusciardi
et al, 2004); Galmoy zinc mine closed in 2012 (Lundin) and as at
2004 hosted 2P Reserves (CIM) of 4.0 million tonnes of 14.1% Zn and
4.3% Pb, having already mined 4.4 million tonnes of 11.0% Zn and
2.0% Pb (report by Watts, Griffis and McOuat, 2005)
|
|
2 Resources and Reserves Report
(Glencore, December 31, 2020) – 45.4 million tonnes of 7% Zn + 1%
Pb (Inferred)
|
Drill Results from Ballywire Zinc Prospect at PG West
Project, Ireland
G11-468-1 (azimuth of 360°, dip of -80°, total depth of 361.0
metres) intersected 3.30 metres of 10.1% zinc, 2.4% lead (12.5%
combined) and 48.3 g/t silver (13.6% ZnEq), starting at 312-metres
downhole, at the base of the Waulsortian limestone (true width is
estimated at 83%; see Exhibit 1). The intercept consists of
semi-massive to massive sulphides (predominantly sphalerite, galena
and pyrite).
Exhibit 1. High-Grade Drill Results from G11-468-1 at
Ballywire Zinc Prospect, PG West Project, Ireland
|
From
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
Cu
|
ZnEq
|
% x
m
|
Lithology
|
|
m
|
m
|
%
|
%
|
%
|
g/t
|
%
|
%
|
ZnEq
|
|
|
312.70
|
0.80
|
13.55
|
3.27
|
16.82
|
67.8
|
0.02
|
18.37
|
14.7
|
Semi- to massive
sx
|
|
313.50
|
0.60
|
5.90
|
1.21
|
7.11
|
31.1
|
0.01
|
7.83
|
4.7
|
Semi-massive
sx
|
|
314.10
|
0.75
|
4.46
|
0.54
|
5.00
|
22.3
|
0.02
|
5.54
|
4.2
|
Semi-massive
sx
|
|
314.85
|
0.40
|
20.10
|
5.35
|
25.45
|
92.2
|
0.07
|
27.67
|
11.1
|
Massive sx
|
|
315.25
|
0.30
|
13.20
|
4.47
|
17.67
|
59.5
|
0.04
|
19.09
|
5.7
|
Semi- to massive
sx
|
|
315.55
|
0.25
|
2.91
|
0.41
|
3.32
|
18.7
|
0.01
|
3.76
|
0.9
|
Semi-massive
sx
|
|
315.80
|
0.20
|
14.50
|
2.56
|
17.06
|
52.2
|
0.03
|
18.31
|
3.7
|
Semi-massive
sx
|
|
312.70
|
3.30
|
10.11
|
2.38
|
12.48
|
48.3
|
0.03
|
13.62
|
44.9
|
-
|
|
314.85
|
1.15
|
13.59
|
3.56
|
17.15
|
60.7
|
0.04
|
18.60
|
21.4
|
-
|
|
Note: As a percent of
the drilled interval, true thicknesses are estimated to be 83%;
"ZnEq" combines Zn, Pb, Ag and Cu into a single number and is
calculated from metal prices (US$) as follows: $1.00/lb Zn,
$1.00/lb Pb, $15.00/oz Ag and $3.00/lb Cu; "sx" means
sulphide;
|
The above intercept was hosted within a wider, lower-grade
interval totalling 36.65 metres of 1.75% ZnEq, including 7.07
metres of 6.76% ZnEq (see Exhibit 2). The wider
interval starts 33.25 metres above the base of the Waulsortian
limestone and extends 3.40 metres below the base.
Exhibit 2. Overall Interval from G11-468-1 at Ballywire Zinc
Prospect, PG West Project, Ireland
|
Note
|
From
|
To
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
Cu
|
ZnEq
|
% x
m
|
|
m
|
m
|
m
|
%
|
%
|
%
|
g/t
|
%
|
%
|
ZnEq
|
|
293.90
|
330.55
|
36.65
|
1.22
|
0.31
|
1.53
|
7.8
|
0.02
|
1.75
|
64.0
|
|
incl.
|
312.70
|
319.77
|
7.07
|
5.00
|
1.17
|
6.17
|
25.2
|
0.01
|
6.76
|
47.8
|
|
incl.
|
312.70
|
316.00
|
3.30
|
10.11
|
2.38
|
12.48
|
48.3
|
0.03
|
13.62
|
44.9
|
|
Note: As a percent of
the drilled interval, true thicknesses are estimated to be 83%;
"ZnEq" combines Zn, Pb, Ag and Cu into a single number and is
calculated from metal prices (US$) as follows: $1.00/lb Zn,
$1.00/lb Pb, $15.00/oz Ag and $3.00/lb Cu;
|
G11-468-01 represents a 220-metre step-out to the NNW from
historic drill hole 00-468-5, which intersected up to 430 g/t
silver and 1.89% copper over narrow widths within a wider,
lower grade interval (see Exhibit 3, 4 and 5). Together with
FM-2654-1 and the Company's prior hole G11-2654-01 (announced on
May 7th, 2019), the above
holes define a 900-metre down-dip extent of significant
mineralization (see Exhibit 3 and 4).
Five historic holes to the immediate west of the above were
drilled over a number of years (from 1973 to 2000), but each
encountered poor ground conditions and was not successful in
reaching the target horizon. Hence, this area remains prospective
and untested. Two holes further to the west and NW (97-468-2 and
98-468-3) were successful in reaching the target horizon and
attained significant mineralization – most notably 97-468-2 which
intersected 2.5 metres of 6.2% ZnEq (incl. 0.50 metres of 20.3%
ZnEq) (see Exhibit 3, 4 and 5). The vicinity of
this area, especially towards G11-468-1, is now deemed very
prospective and warrants immediate follow-up.
Exhibit 3. Drill Hole Plan Map of the Ballywire Zinc
Prospect, PG West Project (100%-owned), Ireland
Exhibit 4. Cross-Section of Recent Drilling at the Ballywire
Zinc Prospect, PG West Project, Ireland
Exhibit 5. Historic Drill Results from Ballywire Zinc
Prospect, PG West Project, Ireland
|
Hole
ID
|
|
From
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
Cu
|
ZnEq
|
% x
m
|
|
|
m
|
m
|
%
|
%
|
%
|
g/t
|
%
|
%
|
ZnEq
|
|
97-468-2
|
|
98.30
|
2.50
|
2.99
|
3.21
|
6.20
|
n/a
|
0.01
|
6.22
|
15.5
|
|
"
|
incl.
|
99.30
|
0.50
|
9.60
|
10.68
|
20.28
|
n/a
|
0.01
|
20.32
|
10.2
|
|
98-468-3
|
|
149.50
|
8.00
|
0.21
|
0.04
|
0.25
|
1.0
|
0.00
|
0.28
|
2.2
|
|
"
|
incl.
|
150.30
|
0.05
|
7.15
|
1.57
|
8.72
|
n/a
|
0.00
|
8.73
|
0.4
|
|
00-468-05
|
|
385.00
|
9.87
|
0.92
|
0.19
|
1.11
|
2.2
|
0.00
|
1.12
|
11.0
|
|
"
|
incl.
|
387.78
|
0.20
|
9.22
|
1.17
|
10.38
|
11.6
|
0.01
|
10.41
|
2.1
|
|
"
|
and
|
434.20
|
3.80
|
0.63
|
0.21
|
0.85
|
109.1
|
0.43
|
4.53
|
17.2
|
|
"
|
incl.
|
434.20
|
0.15
|
1.15
|
0.16
|
1.31
|
430.0
|
1.80
|
16.12
|
2.4
|
|
"
|
and
|
435.00
|
1.00
|
0.82
|
0.54
|
1.36
|
218.0
|
0.87
|
8.74
|
8.7
|
|
FM-2654-1
|
|
549.95
|
9.05
|
0.74
|
0.11
|
0.85
|
1.5
|
0.00
|
0.89
|
8.0
|
|
"
|
incl.
|
554.95
|
0.85
|
5.35
|
0.79
|
6.15
|
10.8
|
0.00
|
6.40
|
5.4
|
|
"
|
incl.
|
555.50
|
0.30
|
11.24
|
1.95
|
13.19
|
18.5
|
0.01
|
13.62
|
4.1
|
|
G11-2654-01
|
|
692.00
|
2.75
|
3.15
|
0.01
|
3.16
|
5.4
|
0.00
|
3.28
|
9.0
|
|
"
|
incl.
|
692.90
|
0.90
|
5.75
|
0.02
|
5.77
|
8.3
|
0.00
|
5.96
|
5.4
|
|
"
|
and
|
718.70
|
10.70
|
1.74
|
0.39
|
2.14
|
7.1
|
0.00
|
2.30
|
24.6
|
|
"
|
incl.
|
726.60
|
1.85
|
5.07
|
1.34
|
6.41
|
22.5
|
0.01
|
6.92
|
12.8
|
|
"
|
incl.
|
727.70
|
0.75
|
10.55
|
2.54
|
13.09
|
39.1
|
0.01
|
13.98
|
10.5
|
|
"
|
incl.
|
719.65
|
1.45
|
5.33
|
0.98
|
6.31
|
17.2
|
0.00
|
6.69
|
9.7
|
|
"
|
incl.
|
719.65
|
0.20
|
29.90
|
5.16
|
35.06
|
93.1
|
0.01
|
37.12
|
7.4
|
|
Note: As a percent of
the drilled interval, true thickness is estimated to be 90%, 90%,
72%, 72% and 55% for the intervals in the holes above,
respectively; "n/a" = data not available; "ZnEq" combines Zn, Pb,
Ag and Cu into a single number and is calculated from metal prices
(US$) as follows: $1.00/lb Zn, $1.00/lb Pb, $15.00/oz Ag and
$3.00/lb Cu;
|
Location and Importance of Rathdowney Trend
Ballywire is located at the Company's 100%-owned PG West
project ("PG West"), within the Limerick region of south-western
Ireland and is situated at the
intersection of the Pallas Green Corridor (NW-oriented) and the
Rathdowney Trend (WSW-oriented; (see Exhibit 6). The
Rathdowney Trend hosts the Lisheen1 and
Galmoy2 zinc mines (both mined out in 2015 and 2012,
respectively), located approximately 55 km and 65 kilometres
towards the NE along trend from Ballywire.
Exhibit 6. Location of Ballywire Prospect at the Company's
100%-owned PG West Project, Ireland
Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore;
(b) Stonepark MRE: please refer to the NI 43-101 Independent Report
on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland, with an effective
date of April 26, 2018, as found on
SEDAR; (c) the historic estimate at Denison was reported by
Westland Exploration Limited in 1988, the historic estimate at
Tullacondra was reported by Munster Base Metals Ltd in 1973 and the
historic estimate at Gortdrum was reported by G.M. Steed in 1986;
these 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.
Update on Carrickittle and Other Exploration
Drilling and the ground magnetic survey at Carrickittle are
progressing on schedule. The Company aims to provide an update on
Carrickittle over the coming few weeks. Drilling at Oola and
Denison (both at PG West) is now complete with results to be
published upon receipt of assays and geological interpretation.
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.
Quality Assurance/Quality Control (QA/QC) Information
Drill-core samples were prepared and assayed in the ALS Minerals
Laboratory in Loughrea, Ireland.
Samples were fine-crushed (CRU-31) to 70% < 2mm and pulverized
and riffle-split to 85% < 75 µm. Zinc, lead and silver assays
were obtained by multi-acid (4-acid) digestion/ICP-MS Package (48
Elements), with ore-grade samples analysed using multi-acid
ICP-AES. Analytical accuracy and precision are monitored by the
submission of 2 standards and 2 blanks inserted into the sample
train of 57 samples by Group Eleven personnel. ALS analysed 4
blanks, 7 duplicates and 14 standards as part of their internal QC
procedures.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: 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.
SOURCE Group Eleven Resources Corp.
