VANCOUVER, Sept. 27, 2018 /CNW/ - Group Eleven
Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE)
("Group Eleven" or "Company") is pleased to announce
the recent commencement of the Geological Survey of Ireland's airborne geophysical ('Tellus')
survey covering 2,500 square kilometres of Group Eleven's
exploration ground in the highly prospective Limerick and
Silvermines Basins. Integrating the results of this Tellus survey
into the Company's ongoing 'Big Think' regional exploration program
is expected to materially advance high-quality near-term drill
targets in this very prospective region.
"We are delighted to participate in the latest phase of the
Tellus survey. Our team looks forward to seeing how the subsurface
geology the survey reveals helps answer some of the biggest
questions still lurking in this very under-explored portion of the
Irish Zinc-Lead District," stated Bart
Jaworski, CEO of Group Eleven. "We are particularly
interested in where hidden mineralizing mega-structures may lie in
relation to the known mineralization at Stonepark, Pallas Green,
Gortdrum, Carrickittle and Silvermines; and most importantly, what
it tells us about where to drill next."
What is 'Big Think'? Group Eleven's 'Big Think'
exploration is an open-minded and methodical search for tier-one
zinc deposits in the Irish Zinc District through comprehensive
re-evaluation of over 70 years of exploration data, combined with
cutting edge geophysical and geochemical techniques. The Company
believes no other zinc-focused junior or major company is currently
exploring on such a broad and deep scale in Ireland. Please see our "Question-and-Answer"
discussion on 'Big Think' for further information.
Timeline to the 'Big Drill'? Compelling drill targets
have already emerged from the Company's 'Big Think' process.
However, the upcoming Tellus data has potential to greatly enhance
targeting. This information is intended to support Group Eleven's
extensive drilling program or 'Big Drill' in 2019.
How does Tellus help exploration? This high-quality
airborne geophysical survey is designed to 'sense' hidden
geological features not apparent through surface mapping or shallow
geophysical techniques. It attempts to 'see through' Ireland's often deep glacial deposits and
extensive peat and soil cover. The results are expected to provide
geologists with important clues to the location of hidden zinc
deposits.
What is Tellus? The Tellus survey, now in its seventh
year, is a nationwide geochemical and geophysical data programme
undertaken by the Geological Survey of Ireland and funded by the Department of
Communications, Climate Action and Environment ("DCCAE"). Its aim
is to benefit the mineral, agricultural and environmental sectors
in the country.
What does it cost and entail? Group Eleven has committed
approximately €120,000 of the total cost of the Limerick and
Silvermines portion of the airborne survey. This survey is expected
to consist of 24,700 line kilometres of Magnetics, EM and
Radiometrics data. Flying is expected to continue through at least
the rest of 2018, with data publicly available several weeks
thereafter.
For further information about the Tellus survey, see DCCAE's
announcement dated August
9th 2018.
Why explore for zinc in Ireland? Zinc is the fourth most consumed
metal after iron, aluminum and copper. Presently, global
inventories of zinc stand at less than nine (9) days of global
consumption – a multi-year low. Ireland is one of the largest zinc producers
in Europe and host to some of the
largest zinc deposits in the world. The zinc deposits discovered in
the Irish Zinc District over the last 70 years occur within a
relatively small area measuring roughly the size of Belgium. While most of the outcropping and
near-surface zinc deposits are thought to be found, Group Eleven
believes new major deposits remain to be discovered through
comprehensive re-evaluation of the region's geology coupled with
new exploration techniques such as airborne geophysical surveys,
ground-based seismic surveys and ionic leach soil sampling.
Qualified Person
EurGeol John Barry MSc., M.B.A., P.Geo, Vice President of
Exploration Strategy and Director of Group Eleven's Irish
subsidiary, is the qualified person Group Eleven Resources, as
defined by NI 43-101. Mr. Barry has worked for extended periods on
Irish-style zinc deposits for much of the last 30 years and is a
professional member of the Institute of Geologists of Ireland and a member of the European
Federation of Geologists. Mr. Barry is responsible for the
scientific and technical information that forms the basis for this
news release.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG, FRA: 3GE and OTC:
GRLVF) is focused on zinc exploration in Ireland. The Company's large land package (99
prospecting licenses totalling 3,200 square kilometres) allows
Group Eleven to leverage new geological thinking and geophysical
technology to systematically rethink key aspects of the Irish zinc
district. Key projects include Ballinalack (with Joint Venture
partner Nonfemet), Stonepark (with Joint Venture partner Connemara
Mining), Silvermines (100%) and Tralee (100%). The Company's team
includes accomplished mining professionals with direct experience
in finding mines, building companies and exploring Irish zinc
deposits.
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
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.