Group Eleven Resources Corp. [ZNG-TSXV; OTCBB-GRLVF; FRA-3GE] reported results from the two most recent step-out holes of the 2024 drill program at the company’s 100%-owned Ballywire zinc-lead-silver discovery, PG West project, Republic of Ireland.
Highlights: 50-metre step-out (hole G11-3552-13) up-dip from best intersection to date at Ballywire (29.6 metres of 10.6% zinc plus lead, 78 g/t silver and 0.15% copper in G11-3552-12), intersected a robust zone of 25.6 m of 5.4 per cent Zn+Pb (2.8 per cent Zn and 2.6 per cent Pb), 72 g/t Ag and 0.12% Cu, from 271.9 metres downhole, including 6.1 metres of 11.4% Zn+Pb (4.1% Zn and 7.3% Pb) and 85 g/t Ag; 12.1 metres of 5.3% Zn+Pb (3.7% Zn and 1.7% Pb), 104 g/t Ag and 0.21% Cu, including 6.8 metres of 6.9% Zn+Pb (5.3% Zn and 1.7% Pb), 174 g/t Ag and 0.37% Cu, including 3.1 metres of 11.2% (8.6% Zn and 2.7% Pb), 353 g/t Ag and 0.78% Cu.
The above intercept represents one of the longest extensions along dip of high-grade mineralization at Ballywire to date. Mineralization consists predominantly of massive and semi-massive sulphide, as well as disseminated and vein hosted sulphide mineralization.
Further drilling is in progress, with G11-3552-14 testing 50 m to the north and updip from G11-3552-13, and at gravity anomalies B and C2 with results expected in the coming weeks.
“We are excited that the high-grade footprint of the Ballywire discovery continues to grow at a rapid pace,” stated Bart Jaworski, CEO. “Today’s results expand high-grade zinc-lead-silver mineralization along dip by 50 metres north from G11-3552-12, our best hole drilled to date at Ballywire. It is also encouraging to see high-grade silver and elevated copper. To date, we have intersected robust mineralization at Ballywire over a strike length of 2.6 km, along a prospective trend of over six km. Together with continued robust intervals of massive sulphide, Ballywire is continuing to show signs of a major zinc-lead-silver discovery. We look forward to providing further drill results over the coming few weeks.”
Today’s drill results extend known high-grade massive sulphide mineralization by 50 metres up-dip from G11-3552-12, which intersected 29.6 metres of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu. G11-3552-12 represents the strongest mineralization to date at Ballywire, adding to an already strong set of previous intercepts (for example, 11.2 metres of 8.9% Zn+Pb and 83 g/t Ag in G11-3552-03; and 10.8 metres of 10.0% Zn+Pb and 109 g/t Ag in G11-468-03).
In addition, Group Eleven drilled G11-468-16, extending known mineralization approximately 200 metres to the southwest from the western edge of the discovery area. G11-468-16 returned anomalous mineralization along or near the base of the Waulsortian limestone.
Group Eleven is currently in the process of drilling and/or has assays pending on four holes: one hole (G11-3552-14) testing 50 metres to the north and up-dip from G11-3552-13 announced today; two holes, approximately 90 m and 360 metres east-northeast of G11-3552-13, near the C2 gravity high anomaly; and a hole at the B gravity anomaly.
Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include: 3.3 metres of 12.5% Zn+Pb and 48 g/t Ag (G11-468-01); 10.8 m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03); 10.1 m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06); 10.5 m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12); 11.2 m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03); 29.6 m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and 6.1 m of 11.4% Zn+Pb and 85 g/t Ag (G11-3552-13).
The company’s two largest shareholders are Glencore Canada Corp. (18.1% interest) and Michael Gentile (15.0%).
