VANCOUVER, BC, Nov. 21,
2023 /CNW/ - Group Eleven Resources Corp. (TSXV:
ZNG) (OTCBB: GRLVF) (FRA: 3GE) ("Group Eleven" or the
"Company") is pleased to announce drill results from five
(5) step-out holes at its 100%-owned Ballywire zinc-lead-silver
discovery ("Ballywire"), PG West Project ("PG West"),
Republic of Ireland. One more
step-out hole (plus two nearby regional holes) and germanium assays
remain pending from the Ballywire area, with results expected over
the coming weeks.
Highlights
- G11-3552-03 (160m easterly
step-out) returned 11.2m of 8.9%
Zn+Pb (5.6% Zn and 3.3% Pb) and 83 g/t Ag, including
4.7m of 9.7% Zn+Pb (3.7% Zn
and 6.0% Pb) and 79 g/t Ag (true width estimated to be
90-100% of drilled interval)
- G11-468-13 (50m northerly
step-out) returned 9.7m of 7.5%
Zn+Pb (4.3% Zn and 3.2% Pb) and 43 g/t Ag, in a wider
interval totalling 30.4m of 4.3%
Zn+Pb (3.0% Zn and 1.4% Pb) and 25 g/t Ag, including
5.6m of 9.8% Zn+Pb (4.8% Zn
and 5.1% Pb) and 60 g/t Ag (true width of 90-100%)
- G11-468-15 (80m easterly
step-out) returned 4.9m of 11.8%
Zn+Pb (2.6% Zn and 9.2% Pb) and 84 g/t Ag (true width of
90-100%)
- G11-468-14 (80m easterly
step-out, 50m south of G11-468-15)
returned 10.2m of 4.4% Zn+Pb
(0.7% Zn and 3.7% Pb) and 19 g/t Ag, including
3.0m of 8.0% Zn+Pb (0.8% Zn
and 7.2% Pb) and 38 g/t Ag (true width of 70-90%)
- Mineralization above consists of sphalerite and galena,
occurring bedding-parallel at or near the base of the Waulsortian
Limestone which dips gently to the south-southeast
"This is a very strong set of assay results from
holes drilled significant distances from previously
known mineralization," stated Bart
Jaworski, CEO. "The strike-length of known high-grade
mineralization has increased by 29% or
160m to the east from
550m to 710m. Including a massive sulphide intercept from
1997, we now have 1.7 kilometres of strike-length over
which robust mineralization has been intercepted. We are especially
excited by the fact that we have yet to test two large
gravity-high anomalies on either side of the discovery
area, over a distance of 2.9 kilometres. And we have a
further two gravity-high anomalies, also untested, giving us a
total prospective trend of about 6 kilometres."
New Drilling at
Ballywire
The Ballywire prospect at the Company's 100%-owned PG West
Project in Republic of Ireland, is
a new zinc-lead-silver discovery (initially announced in
September 2022). In addition to 15
holes drilled and reported by Group Eleven to date, five (5)
step-out holes are reported today. These holes step out from
previously known mineralization by 50m to the north, 80m to the east and 160m to the east (see Exhibit 1, 2, 3 and
5).
Exhibit 1. Plan View of New Step-Out Drill Holes at Ballywire
Discovery, Ireland
Exhibit 2. Long-Section of New Step-Out Drill Holes at
Ballywire Discovery
Relative to recently announced gravity-high anomalies (see news
release dated October 17, 2023), the
above drill holes are located on the eastern margins of the 'C1'
anomaly (see Exhibit 3). Anomalies 'B', 'C2' and 'C3' remain
to be drilled.
Exhibit 3. Plan Map of New Drilling vs. Recently Announced
Gravity-High Anomalies at Ballywire
Exhibit 4. Summary of Assays from New Step-Out Drill Holes at
Ballywire Discovery, Ireland
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Zn %
|
Pb
%
|
Zn+Pb
%
|
Ag
g/t
|
Cu %
|
G11-468-13
|
253.73
|
284.15
|
30.42
|
2.96
|
1.36
|
4.32
|
25.2
|
-
|
Incl.
|
264.45
|
281.60
|
17.15
|
4.05
|
2.05
|
6.10
|
33.8
|
-
|
Incl.
|
264.45
|
274.14
|
9.69
|
4.27
|
3.24
|
7.51
|
42.7
|
-
|
Incl.
|
268.53
|
274.14
|
5.61
|
4.77
|
5.06
|
9.83
|
60.4
|
-
|
Incl.
|
272.05
|
274.14
|
2.09
|
7.59
|
9.80
|
17.40
|
122.4
|
0.11
|
Incl.
|
273.87
|
274.14
|
0.27
|
6.29
|
16.90
|
23.19
|
326.0
|
0.52
|
And
|
275.03
|
281.60
|
6.57
|
4.21
|
0.52
|
4.74
|
23.8
|
-
|
Incl.
|
280.00
|
281.60
|
1.60
|
9.47
|
0.71
|
10.18
|
39.4
|
-
|
G11-468-14
|
267.81
|
320.25
|
52.44
|
0.56
|
0.98
|
1.54
|
15.4
|
-
|
Incl.
|
272.20
|
282.36
|
10.16
|
0.67
|
3.68
|
4.35
|
19.2
|
-
|
Incl.
|
273.00
|
278.85
|
5.85
|
0.62
|
4.33
|
4.94
|
23.2
|
-
|
Incl.
|
272.20
|
275.23
|
3.03
|
0.81
|
7.16
|
7.97
|
38.3
|
-
|
G11-468-15
|
190.70
|
275.75
|
85.05
|
0.65
|
0.78
|
1.42
|
8.1
|
-
|
Incl.
|
269.84
|
274.69
|
4.85
|
2.57
|
9.24
|
11.82
|
84.5
|
0.13
|
Incl.
|
272.38
|
274.69
|
2.31
|
3.87
|
12.45
|
16.32
|
128.1
|
0.17
|
Incl.
|
272.38
|
272.57
|
0.19
|
11.35
|
10.85
|
22.20
|
199.0
|
0.34
|
And
|
273.26
|
273.80
|
0.54
|
8.16
|
23.30
|
31.46
|
170.0
|
0.14
|
G11-3552-02
|
374.40
|
380.90
|
6.50
|
0.48
|
0.04
|
0.52
|
1.1
|
-
|
G11-3552-03
|
218.76
|
219.20
|
0.44
|
13.65
|
8.49
|
22.14
|
93.9
|
-
|
And
|
245.89
|
303.90
|
58.01
|
2.11
|
0.98
|
3.09
|
24.8
|
-
|
Incl.
|
259.09
|
291.80
|
32.71
|
2.83
|
1.60
|
4.42
|
36.8
|
-
|
Incl.
|
280.56
|
291.80
|
11.24
|
5.58
|
3.32
|
8.90
|
82.9
|
-
|
Incl.
|
284.20
|
291.80
|
7.60
|
4.56
|
4.04
|
8.60
|
103.8
|
0.12
|
Incl.
|
284.20
|
288.91
|
4.71
|
3.70
|
6.04
|
9.74
|
78.5
|
-
|
Incl.
|
280.56
|
281.29
|
0.73
|
31.40
|
7.25
|
38.65
|
160.0
|
-
|
And
|
291.62
|
291.80
|
0.18
|
24.00
|
3.12
|
27.12
|
397.0
|
0.52
|
Note: True width as a
percentage of drilled intercept is 90-100% for G11-468-13,
G11-468-15, G11-3552-02 and G11-3552-03, and 70-90% for G11-468-14;
Percent Cu shown for values greater than 0.10%
|
Exhibit 5. Cross-Section Showing G11-468-13 and G11-3552-02
at Ballywire Discovery
G11-468-13 (azimuth 330°, dip -65°) is a 50m step-out hole located up-dip and to the north
of G11-468-12 (see Exhibit 5). Strong results from
both holes (see Exhibit 4) suggests robust mineralization is
likely to continue further north along this section. Weak results
from G11-3552-02 (azimuth 330°, dip -65°) located
105m downdip and south of G11-468-12,
suggests that the mineralizing system is waning to the south at
this locality or that this hole intercepted an isolated dead spot,
not uncommon in Irish-Type zinc deposits in Ireland.
G11-468-14 (azimuth 335°, dip -80°) is an
80m step-out ENE from G11-468-12 (see
Exhibit 1 and 6). Strong mineralization was
returned within the Waulsortian limestone, with mineralized veins
also intersected below this unit. G11-468-15 (azimuth
335°, dip -70°) is a 50m step-out
north of G11-468-14, yielding strong mineralization in the
hangingwall of an interpreted fault.
G11-3552-03 (azimuth 330°, dip -75°) is a
160m step-out ENE from G11-468-12
(see Exhibit 1 and 7), yielding the best
mineralization of the suite of results in today's release. The
Company has completed a drill hole stepping out 75m to the north of G11-3552-03 with assays
expected over the coming weeks.
The above holes expand the strike-length of known high-grade
mineralization by 160m or 29%, from
550m to 710m. Including a massive sulphide intercept from
1997, robust mineralization has been intercepted over 1.7km (see
Exhibit 3). Two large gravity-high anomalies yet to be drill
tested on either side of the discovery area are highly prospective
and total a distance of 2.9km. A further two gravity-high
anomalies, also untested, underpin an overall prospective trend of
approx. 6km (see news release dated April
25, 2023).
Exhibit 6. Cross-Section Showing G11-468-14 and G11-468-15 at
Ballywire Discovery
Background Information on
Ballywire Discovery
Ballywire is located in the SE portion of the Company's
100%-owned PG West Project, Republic of
Ireland (see Exhibit 8). PG West, including the
nearby Tullacondra prospect, covers an area of 650km2
(251 square miles) and is contiguous with the Company's Stonepark
project (covering 184km2; 76.56% interest). Ballywire is
located approximately 20km SE of Glencore's Pallas Green
deposit1 and approximately 50km SW of the historic
Lisheen zinc mine (closed in 2015).
Geologically, Ballywire is situated at the intersection of the
SW projection of the Rathdowney Trend, hosting the past-producing
Lisheen and Galmoy zinc mines, and the Pallas Green Corridor, which
hosts the undeveloped Pallas Green deposit1. Historic
drilling at the Ballywire prospect was sparse, last being worked by
operators in 2008. Group Eleven staked the prospect in 2016 and
announced the discovery in September
2022.
______________________________
|
1 Pallas
Green Mineral Resource Estimate (MRE): 45 mln tonnes of 7.2% Zn and
1.2% Pb, Inferred (Glencore, 31-Dec-2022)
|
Exhibit 7. Cross-Section Showing G11-3552-03 and G11-3552-04
at Ballywire Discovery
Notes to Exhibit 8: (a) Pallas Green MRE is owned by
Glencore (see Glencore's Resources and Reserves Report dated
December 31, 2022); (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 Showing Location of Ballywire
Discovery, PG West Project (100% Interest)
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; Pink: 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: (i) 3.3m of 12.5% Zn+Pb
and 48 g/t Ag (G11-468-01), (ii) 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03);
(iii) 10.1m of 8.6% Zn+Pb and 46 g/t
Ag (G11-468-06); and (iv) 10.5m of
14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12). The Company's
two largest shareholders are Glencore Canada Corp. (20.8% 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
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.