{"id":11500,"date":"2024-10-22T09:52:01","date_gmt":"2024-10-22T09:52:01","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/22\/group-eleven-intersects-11-8m-of-11-6-znpb-and-48-g-t-ag-identifies-emerging-zinc-rich-massive-sulphide-zone-at-ballywire\/"},"modified":"2024-10-22T09:52:01","modified_gmt":"2024-10-22T09:52:01","slug":"group-eleven-intersects-11-8m-of-11-6-znpb-and-48-g-t-ag-identifies-emerging-zinc-rich-massive-sulphide-zone-at-ballywire","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/22\/group-eleven-intersects-11-8m-of-11-6-znpb-and-48-g-t-ag-identifies-emerging-zinc-rich-massive-sulphide-zone-at-ballywire\/","title":{"rendered":"Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g\/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire"},"content":{"rendered":"
\n

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) (\u2018Group Eleven\u2019 or the \u2018Company\u2019) is pleased to announce results from a recent step-out hole of the 2024 drill program at the Company\u2019s 100%-owned Ballywire zinc-lead-silver discovery (\u2018Ballywire\u2019), PG West Project (\u2018PG West\u2019), Republic of Ireland.<\/p>\n

Highlights:<\/p>\n

G11-3552-18 (a 50m step-out to the NNW from G11-3552-16) intersected:36.6m of 6.4% Zn+Pb (4.8% Zn and 1.6% Pb) and 26 g\/t Ag (starting from 226.9m downhole) including:11.8m of 11.6% Zn+Pb (8.0% Zn and 3.5% Pb) and 48 g\/t Ag, including:4.0m of 19.8% Zn+Pb (11.4% Zn and 8.4% Pb) and 104 g\/t AgProvides additional evidence that mineralizing system at Ballywire is gaining strength to northeast with the emergence of a relatively flat-lying zone of zinc-rich massive sulphide\u00a0lenses located at the base of the Waulsortian Limestone and extending at least 360m along strike (open)Zone is pierced by today\u2019s intercept, as well as the following three previously released holes:G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g\/t Ag (Group Eleven\u2019s best intercept to date; released 11-Jun-2024)G11-3552-13: 6.1m of 11.4% Zn+Pb and 85 g\/t Ag (released 01-Aug-24) andG11-3552-17: several massive sulphide zones including 4.9m of 9.7% Zn+Pb and 39 g\/t Ag; and 4.2m of 15% Zn+Pb and 34 g\/t Ag (released 24-Sep-2024)Above mineralization is contained within a 2.6km long northeasterly trend of significantly mineralized drill intercepts, and within an overall 6km long prospective trend, also northeasterly, defined by four gravity-high anomalies along the Waulsortian LimestoneTwo-rig drill program at Ballywire continues on schedule with the next assay results expected over the coming few weeks<\/p>\n

\u2018Our 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,\u2019 stated Bart Jaworski, CEO. \u2018We 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.\u2019<\/p>\n

\u2018Our 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\u2019s 6km long prospective trend.\u2019<\/p>\n

Exhibit 1. Cross-Section A-A\u2019 of G11-3552-18 (50m Step-Out NNW) at Ballywire<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/5685\/227382_227382_d123fe80b4faaa32_002full.jpg<\/p>\n

Note: G11-3552-20 and -22 is completed with assay pending; 50m step-out refers to the distance from G11-3552-16<\/span><\/p>\n

Exhibit 2. Plan Map Showing New Drilling (G11-3552-18) at Ballywire<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/5685\/227382_227382_d123fe80b4faaa32_003full.jpg<\/p>\n

\u00a0<\/p>\n

Recent Hole from 2024 Drill Campaign at Ballywire Discovery<\/p>\n

The Ballywire prospect at the Company\u2019s 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). <\/p>\n

Exhibit 3. Summary of Assays from G11-3552-18 at Ballywire<\/p>\n

ItemFrom
(m)To
(m)Int
(m)Zn
(%)Pb
(%)Zn+Pb
(%)Ag
(g\/t)G11-3552-18226.90263.4536.554.811.586.3926.3Incl.226.90240.8213.923.970.854.8216.7Incl.226.90233.937.034.521.065.5816.1Incl.226.90231.684.784.741.306.0416.8And237.50240.823.326.170.816.9823.2And245.48263.4517.976.492.549.0340.0Incl.248.44263.4515.017.172.9510.1245.4Incl.247.75259.5411.798.053.5211.5748.1Incl.255.59259.543.9511.428.3619.78103.6Incl.257.50259.261.7615.6414.7230.36184.4<\/div>\n

\u00a0<\/p>\n

Note: True width of the overall mineralized package above is estimated at approx. 90-100% of the intersected interval<\/p>\n

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).<\/p>\n

Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, \u2018other mineralization\u2019, 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.<\/p>\n

Exhibit 4. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire<\/p>\n

To view an enhanced version of this graphic, please visit:
<\/span>https:\/\/images.newsfilecorp.com\/files\/5685\/227382_227382_d123fe80b4faaa32_004full.jpg<\/p>\n

\u00a0<\/p>\n

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). <\/p>\n

Exhibit 5. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/5685\/227382_227382_d123fe80b4faaa32_005full.jpg<\/p>\n

Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore\u2019s Resources and Reserves Report dated December 31, 2023); (b) Stonepark MRE: see the \u2018NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland\u2019, 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 \u2018Report on Prospecting Licence 464\u2019 by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in \u2018The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody\u2019 by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in \u2018Report on Mallow Property\u2019 by David Wilbur, dated December 1973; and later summarized in \u2018Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork\u2019 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. \u2018Rathdowney Trend\u2019 is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.<\/p>\n

Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest)<\/p>\n

To view an enhanced version of this graphic, please visit:
https:\/\/images.newsfilecorp.com\/files\/5685\/227382_227382_d123fe80b4faaa32_006full.jpg<\/p>\n

\u00a0<\/p>\n

Third Party Agreement<\/p>\n

Qualified Person<\/p>\n

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 \u2018Qualified Person\u2019 as defined under Canadian National Instrument 43-101.<\/p>\n

Quality Assurance\/Quality Control (QA\/QC) Information<\/p>\n

Group Eleven inserts certified reference materials (\u2018CRMs\u2019 or \u2018Standards\u2019) 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.<\/p>\n

About Group Eleven Resources<\/p>\n

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: <\/p>\n

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) and6.1m 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)11.8m of 11.6% Zn+Pb, 48 g\/t Ag (G11-3552-18)<\/p>\n

The Company\u2019s 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. <\/p>\n

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer<\/p>\n

\n

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514<\/p>\n<\/div>\n

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.<\/p>\n

Cautionary Note Regarding Forward-Looking Information<\/p>\n

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\u2019s 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\u2019s mineral properties.<\/p>\n

To view the source version of this press release, please visit https:\/\/www.newsfilecorp.com\/release\/227382<\/p>\n<\/div>\n

News Provided by Newsfile via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) (\u2018Group Eleven\u2019 or the \u2018Company\u2019) is pleased to announce results from a recent step-out hole of the 2024 drill program at the Company\u2019s 100%-owned Ballywire zinc-lead-silver discovery (\u2018Ballywire\u2019), PG West Project (\u2018PG West\u2019), Republic of Ireland. Highlights: G11-3552-18 (a 50m step-out to the NNW from […]<\/p>\n","protected":false},"author":0,"featured_media":11501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=11500"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/11501"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=11500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=11500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=11500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}