
Group Eleven Resources Corp. (TSX-V: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is pleased to announce the latest step-out drill results from the Zn-Pb-Ag horizon at its Ballywire discovery at the 100%-owned PG West Project, Republic of Ireland. Drilling at Ballywire’s deeper, Cu-Ag target is in progress (to be reported in due course).
Highlights:
“Today’s hole represents our thickest intercept yet at the Ballywire discovery, surpassing our 29.6 metres of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu announced in June 2024,” stated Bart Jaworski, CEO. “Not only does this intercept extend strike and show exceptional mineralized thickness but also demonstrates zones of strong copper-silver values. This adds to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below the main Ballywire discovery horizon. This deeper target is currently being drilled, with one hole finished and a second started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire and a recently announced strengthened cash position of C$4.3 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future.”
Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing Hole 25-3552-35
Exhibit 2. Long-Section of 25-3552-35 (50m Step-Out) at Ballywire
Note: Structural interpretation above is preliminary and subject to change with further drilling and compilation
Ballywire Drill Update
The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 53 holes drilled and reported by Group Eleven to date, including the most recent hole (25-3552-35) reported today (see Exhibits 1 to 3).
Drilling at Ballywire continues with three rigs. Currently, eight (8) new holes are completed (and in the process of being logged, sampled and assayed). Six of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly ‘D’ (located 1.3km to the ENE). Recently strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.
Assays from 25-3552-35 are summarized below (see Exhibit 3). Strong mineralization starts to occur within the Waulsortian Limestone at 120.6m downhole and continues intermittently until 187.9m, at which point, mineralization becomes more consistent through to near the base of the Waulsortian Limestone at 242.9m. Below the Waulsortian Limestone, several horizons of elevated copper-silver occur. Mineralization consists predominantly of sphalerite, galena and pyrite, with the copper-silver bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite.
Exhibit 3. Summary of Assays from 25-3552-35 at Ballywire
Item | From (m) |
To (m) |
Int (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
Ag (g/t) |
Cu (%) |
25-3552-35 | 120.58 | 121.49 | 0.91 | 10.85 | 2.90 | 13.75 | 235.0 | 0.03 |
And | 148.67 | 149.62 | 0.95 | 16.90 | 4.05 | 20.95 | 69.6 | 0.02 |
And | 155.22 | 156.15 | 0.93 | 6.16 | 0.67 | 6.83 | 18.5 | 0.01 |
And | 163.74 | 177.63 | 13.89 | 3.61 | 0.57 | 4.17 | 9.4 | 0.00 |
Incl. | 173.19 | 177.63 | 4.44 | 5.08 | 1.14 | 6.22 | 18.6 | 0.01 |
Incl. | 174.98 | 175.91 | 0.93 | 10.20 | 2.72 | 12.92 | 47.1 | 0.02 |
And | 187.88 | 241.82 | 53.94 | 4.72 | 3.18 | 7.89 | 99.3 | 0.20 |
Incl. | 202.15 | 241.82 | 39.67 | 5.61 | 3.85 | 9.45 | 131.1 | 0.27 |
Incl. | 212.55 | 230.81 | 18.26 | 8.89 | 7.18 | 16.06 | 233.1 | 0.42 |
Incl. | 212.55 | 224.21 | 11.66 | 11.60 | 9.99 | 21.59 | 207.8 | 0.34 |
Incl. | 221.33 | 226.96 | 5.63 | 8.03 | 8.54 | 16.57 | 370.0 | 0.86 |
Incl. | 222.32 | 223.25 | 0.93 | 16.20 | 18.90 | 35.10 | 556.0 | 1.13 |
And | 238.21 | 241.82 | 3.61 | 0.41 | 0.17 | 0.58 | 96.4 | 0.54 |
Incl. | 240.92 | 241.82 | 0.90 | 0.82 | 0.55 | 1.37 | 223.0 | 1.27 |
And | 252.32 | 257.80 | 5.48 | 0.94 | 2.22 | 3.16 | 208.8 | 0.49 |
Incl. | 252.32 | 254.09 | 1.77 | 2.01 | 3.68 | 5.69 | 616.8 | 1.50 |
Incl. | 252.32 | 253.20 | 0.88 | 1.48 | 0.63 | 2.11 | 831.0 | 2.46 |
And | 263.23 | 264.15 | 0.92 | 0.01 | 0.08 | 0.09 | 195.0 | 0.21 |
And | 268.70 | 272.15 | 3.45 | 3.50 | 3.55 | 7.06 | 133.7 | 0.34 |
Incl. | 271.27 | 272.15 | 0.88 | 0.50 | 2.99 | 3.49 | 224.0 | 0.63 |
Note: True thickness of the mineralized interval in hole 25-3552-35, as a percentage of the down-hole interval, is estimated to be 90-100%
Notes to Exhibit 4: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2024); (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 4. Regional Map of Ballywire Discovery
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.
Sampling and Analytical Procedures
All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.55m to 1.32m with an average (over 188 samples) of 0.92m. The half-core samples are bagged, labelled and sealed at Group Eleven’s core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70% < 2mm, riffle splitter, pulverise up to 250g 85% < 75um. Analytical procedures are 34 element four acid ICP-AES (codes ME-ICP61 and ME-OG62). Other than paying for a professional analytical service, Group Eleven has no relationship with ALS.
Quality Assurance/Quality Control Information
Group Eleven inserts certified reference materials 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. is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:
Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit2. The Company’s two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corp. (15.2% interest).
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