VANCOUVER, BC, July 6, 2020 /CNW/ - Group Eleven Resources
Corp. (TSX.V: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven"
or the "Company") is pleased to announce that it has
intersected 10.3 metres of 14.6% zinc, 5.0% lead (19.6% combined)
and 43 g/t silver at its drilling on its 100%-owned PG West Project
in the Republic of Ireland.
Mineralization is shallow, open along strike and represents not
only the best mineralization ever encountered at the Carrickittle
prospect ("Carrickittle"), but also the best mineralization
Group Eleven has drilled since inception of the Company in early
2015.
Highlights:
- Hole G11-2840-04 intersected 10.3 metres of 14.6% zinc, 5.0%
lead (19.6% combined) and 43 g/t silver (interpreted to be
approximately true width, starting at 56.3 metres downhole)
- The above intersection contains a high-grade zone of massive
sulphides containing 6.6 metres of 21.5% zinc and 7.0% lead
(28.4% combined) and 59 g/t silver, starting at 60.0 metres
downhole
- The hole was designed to test the hypothesis that historic
(1965-66) drilling at the prospect was, in hindsight, oriented in
the wrong direction (all historic holes were drilled towards the
south and west, or vertical)
- G11-2840-04 was oriented due east (090° with a dip
of -45°) and designed to scissor (drill perpendicular to) historic
hole P18 which intersected a number of narrow (approximately
1-metre wide) high-grade intervals over approximately
25 metres downhole
- Results from G11-2840-04 demonstrate that P18 appears to have
skimmed approximately parallel along the top of a zone of
massive sulphide which dips moderately-steeply to the
west
- The above reinterpretation directly implies mineralization is
open along strike to the north for at least one
kilometre and to the south for a few hundred
metres
- In addition to the above, three other zones of
known mineralization at Carrickittle now require immediate
follow-up and reinterpretation, along with a number of
northwest-trending faults in the area (which appear to be parallel
to the fault controlling mineralization in G11-2840-04)
"The thickness of massive sulphides and associated grades
reaching as high as 55.7%1 zinc and lead, was a much
better result than expected. This intercept represents a
breakthrough in our understanding of how mineralization is oriented
at Carrickittle and offers a compelling hypothesis as to why
historic drilling missed or seemingly only skimmed along areas of
mineralization," stated Bart
Jaworski, CEO.
"Finding such high-grade mineralization at shallow depths is a
very rare occurrence these days in the industry and it is highly
encouraging for Group Eleven. Carrickittle is a prospect that lay
largely dormant for over 54 years after it was labelled as
'sub-economic' in 1966. The prospect, however, now clearly appears
under-drilled and under-conceptualized – and requires immediate
follow-up."
|
|
1
|
See Exhibit 3:
"Assays from G11-2840-04 at Carrickittle Prospect, PG West Project,
Ireland"
|
Carrickittle Prospect, PG West Project (near Limerick,
Republic of Ireland)
The Carrickittle prospect is located on the Company's
100%-interest PG West project located in the Limerick basin, in
south-western Ireland (see
Exhibit 1). The prospect lies within the Pallas Green
Corridor, a 25 kilometre-long trend of mineralization defined by
the Pallas Green deposit2 in the north and the Company's
Carrickittle, Ballywire and Denison prospects to the south.
Exhibit 1. Location of the Carrickittle Prospect on Group
Eleven's 100%-Interest PG West Project, Ireland
Details on G11-2840-04
Hole G11-2840-04 was designed to test the hypothesis that
historic (1965-66) drilling at the prospect was, in hindsight,
oriented in the wrong direction (all historic holes
were drilled towards the south and west, or vertical; see
Exhibits 5 and 6). G11-2840-04 was oriented due east (090°
with a dip of -45°) and designed to scissor (drill perpendicular
to) historic hole P18 which intersected a number of high-grade
intervals over approximately 25 metres downhole (e.g. 1.5 metres of
31.3% Zn+Pb3 and 55 g/t Ag; 0.91 metres of 17.6%
Zn+Pb3 and 39 g/t Ag; 1.2 metres of 22.1%
Zn+Pb3 and 30 g/t Ag; see 'Before' in Exhibit
2).
Results from G11-2840-04 demonstrate that P18 appears to have
skimmed approximately parallel along the top of a zone of massive
sulphide which dips moderately-steeply to the west (see
'After' in Exhibit 2).
|
|
2
|
Resources and
Reserves Report (Glencore, December 31, 2019) – 45.4 million tonnes
of 7% Zn + 1% Pb (Inferred)
|
3
|
See Exhibit 6 at the
end of this News Release for a breakdown of individual zinc and
lead grades.
|
Exhibit 2. 'Before' and 'After' Cross-Sections of Recent
Drilling at Carrickittle Prospect, PG West Project
Note: '%' means zinc
+ lead (see Exhibit 3 and 6); location of the cross-section line is
shown in Exhibit 4; the intercept '0.9m of 17.6%' is contained
within a wider zone of mineralization.
|
Assay results from G11-2840-04 and the plan drill hole map are
shown in Exhibit 3 and 4. Importantly, the overall grade of
the interval in G11-2840-04 is likely to be understated as the
6.6-metre-thick massive sulphide interval contains 1.10 metres
of no core recovery (material was soft and friable) and
the grade for this missing interval was assumed to be zero. The
fact that several small fragments of massive sulphide were observed
in this interval suggests the grade may be similar to the samples
on either side of it.
Exhibit 3. Assays from G11-2840-04 at Carrickittle Prospect,
PG West Project, Ireland
From
(m)
|
Interval
(m)
|
Zn
(%)
|
Pb
(%)
|
Zn+Pb
(%)
|
Ag
(g/t)
|
Zn-Eq
(%)
|
m x %
(ZnEq)
|
Lithology
|
56.30
|
1.10
|
4.40
|
2.53
|
6.93
|
26.3
|
7.51
|
8.3
|
WL, calcite veins w
py, sph
|
57.40
|
1.50
|
1.59
|
1.45
|
3.03
|
10.9
|
3.27
|
4.9
|
WL, calcite veins w
py, sph
|
58.90
|
1.10
|
0.97
|
0.82
|
1.79
|
5.4
|
1.90
|
2.1
|
WL, calcite veins w
py, sph
|
60.00
|
1.30
|
5.14
|
3.30
|
8.44
|
25.7
|
9.00
|
11.7
|
WL, calcite veins w
more sph
|
61.30
|
0.70
|
12.50
|
20.70
|
33.20
|
84.4
|
35.05
|
24.5
|
WL, more massive
sulphide
|
62.00
|
1.00
|
23.90
|
11.05
|
34.95
|
77.1
|
36.64
|
36.6
|
Massive
sulphide
|
63.00
|
1.00
|
43.50
|
5.34
|
48.84
|
81.7
|
50.63
|
50.6
|
Massive
sulphide
|
64.00
|
0.80
|
33.80
|
4.43
|
38.23
|
74.6
|
39.86
|
31.9
|
Massive
sulphide
|
64.80
|
1.10
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.0
|
No recovery (soft
material)*
|
65.90
|
0.70
|
45.40
|
10.25
|
55.65
|
109.0
|
58.03
|
40.6
|
Massive
sulphide
|
56.30
|
10.30
|
14.56
|
5.02
|
19.58
|
42.6
|
20.51
|
211.3
|
Entire
interval
|
60.00
|
6.60
|
21.46
|
6.95
|
28.42
|
58.7
|
29.70
|
196.0
|
Massive sulphide (w
core gap)
|
61.30
|
3.50
|
29.48
|
9.84
|
39.32
|
79.3
|
41.05
|
143.7
|
Continuous massive
sulphide
|
Note: All above
intersection are interpreted to be approximately true thickness; *
Small fragments of massive sulphide were recovered but not enough
to assay; "Zn-Eq %" combines Zn, Pb and Ag into a single number and
is calculated from metal prices (US$) as follows: $1.00/lb Zn,
$1.00/lb Pb and $15.00/oz Ag; "sph" is sphalerite (zinc bearing
mineral); "gal" is galena (lead bearing mineral); "py" is pyrite
(iron sulphide); "WL" means Waulsortian limestone; "w" means
'with'.
|
Exhibit 4. Plan Map Showing G11-2840-04 and All Historic
Holes at Zone 1 of the Carrickittle Prospect
Note: "Sph and Gal"
above means that some sphalerite (zinc-bearing mineral) and galena
(lead-bearing mineral) were observed in the core, however, in
insufficient amounts to warrant assays (laboratory
analysis).
|
Immediate Exploration Potential at Carrickittle Prospect –
Zone 1, Zones 2-4 and NW Faults
A number of new and important datapoints emerged from hole
G11-2840-04, including: (a) a thick, continuous and high-grade
massive sulphide body exists at Zone 1 at Carrickittle;
(b) the orientation of the massive sulphide body appears to be
moderately-steeply dipping to the west; (c) the massive
sulphides are associated with a fault
zone which dips steeply to the west or southwest and is
interpreted to strike north-south or northwest.
The fault zone and the orientation of the massive sulphide body
provide a very specific exploration vector towards the
north-northwest and south-southeast. Approximately 25 metres to the
north of G11-2840-04, historic hole P21 intersected six discrete
zones (0.3 metres to 0.9 metres wide) of low-grade mineralization
(0.5% to 2.2% zinc and lead; see Exhibit 5) over a downhole
length of 79.3 metres. Hole P19 similarly intersected low-grade
mineralization from 66 metres to 73 metres downhole. This suggests
that P21 and P19 may have been drilled along the low-grade top of a
mineralized body, similar to P18.
The trend further towards the north-northwest is open, with only
sparse regional drilling and the prospective horizon (Waulsortian
limestone) extending for at least another kilometre. To the
south-southeast, no drilling has yet been conducted and the
prospective horizon continues for another several hundred
metres.
Exhibit 5. Plan Map Showing All Historic Drilling at
Carrickittle Prospect, PG West Project, Ireland
Note: "Sph and Gal"
above means that some sphalerite (zinc-bearing mineral) and galena
(lead-bearing mineral) were observed in the core, however, in
insufficient quantities to warrant assays (laboratory
analysis).
|
In addition to Zone 1, three other zones of known mineralization
exist at Carrickittle (see Exhibit 5) and each now requires
immediate follow-up and reinterpretation. Historic drilling in
Zones 2, 3 and 4 was oriented similar to Zone 1 (i.e. vertical or
to the south), therefore, may have also missed the main sulphide
bodies.
Outside of known areas of mineralization, immediate exploration
upside resides along a series of northwest-trending faults at the
Carrickittle prospect (see Exhibit 5). These faults are
known to be associated with intense dolomitization, an alteration
type commonly linked with zinc mineralization in Ireland. The faults are also parallel or
sub-parallel to the fault controlling mineralization in
G11-2840-04, and more broadly, the Pallas Green Corridor (see
Exhibit 1). Several historic holes were conducted in the
vicinity of these faults, however, were sparsely drilled and not
oriented to the west.
As a general comment, the presence of thick, high-grade massive
sulphides suggests that, not only were the necessary geologic
conditions for zinc mineralization present, but they may have been
extensive and long lasting. If true, this further adds exploration
potential to the Carrickittle prospect.
Exhibit 6. Summary of Notable Historic Drill Results at
Carrickittle, PG West Project, Ireland
Hole
|
Entity
|
Year
|
Dip
|
From
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
Zn-Eq
|
m x
%
|
|
|
|
(°)
|
(m)
|
(m)
|
(%)
|
(%)
|
(%)
|
(g/t)
|
(%)
|
Zn-Eq
|
Zone 1
|
P7
|
Tara
|
1965
|
-50 S
|
33.99
|
1.52
|
27.5
|
7.8
|
35.3
|
62.8
|
36.7
|
55.9
|
P9
|
Tara
|
1965
|
-90
|
10.36
|
3.35
|
4.9
|
3.3
|
8.1
|
43.1
|
9.1
|
30.5
|
P10
|
Tara
|
1965
|
-90
|
34.44
|
0.76
|
0.2
|
2.9
|
3.0
|
n/a
|
3.0
|
2.3
|
P16
|
Tara
|
1965
|
-90
|
18.90
|
1.07
|
33.4
|
7.4
|
40.8
|
128.5
|
43.6
|
46.5
|
P17
|
Tara
|
1965
|
-90
|
31.09
|
2.44
|
23.0
|
3.8
|
26.8
|
60.7
|
28.1
|
68.5
|
P18
|
Tara
|
1965
|
-50 W
|
40.54
|
15.54
|
6.8
|
2.2
|
8.9
|
13.1
|
9.2
|
143.2
|
P21
|
Tara
|
1966
|
-50 W
|
135.82
|
0.46
|
1.3
|
0.3
|
1.6
|
n/a
|
1.6
|
0.7
|
P22
|
Tara
|
1966
|
-50 W
|
44.35
|
1.37
|
4.8
|
0.9
|
5.7
|
n/a
|
5.7
|
7.8
|
2840-04
|
ZNG
|
2020
|
-45
E
|
56.30
|
10.30
|
14.6
|
5.0
|
19.6
|
42.6
|
20.5
|
211.3
|
Zone 2
|
P4
|
Tara
|
1965
|
-80 S
|
18.29
|
4.88
|
11.4
|
1.4
|
12.8
|
n/a
|
12.8
|
62.2
|
P24
|
Tara
|
1966
|
-90
|
9.75
|
0.91
|
2.7
|
3.9
|
6.5
|
n/a
|
6.5
|
6.0
|
P25
|
Tara
|
1966
|
-90
|
29.47
|
0.82
|
8.7
|
2.4
|
11.1
|
n/a
|
11.1
|
9.2
|
Zone 3
|
P5
|
Tara
|
1965
|
-50 S
|
31.09
|
2.74
|
4.8
|
2.3
|
7.1
|
n/a
|
7.1
|
19.3
|
P6
|
Tara
|
1965
|
-50 S
|
67.06
|
1.52
|
0.3
|
0.7
|
1.0
|
n/a
|
1.0
|
1.5
|
P15
|
Tara
|
1965
|
-50 S
|
66.75
|
1.22
|
6.8
|
1.2
|
8.0
|
n/a
|
8.0
|
9.8
|
Zone 4
|
P1
|
Tara
|
1965
|
-50 S
|
8.53
|
3.66
|
2.7
|
1.0
|
3.7
|
n/a
|
3.7
|
13.4
|
P2
|
Tara
|
1965
|
-50 S
|
20.73
|
23.77
|
1.0
|
0.4
|
1.4
|
n/a
|
1.4
|
32.9
|
P3
|
Tara
|
1965
|
-50 S
|
28.04
|
1.83
|
2.2
|
0.3
|
2.5
|
n/a
|
2.5
|
4.6
|
Regional
|
OL-81-03
|
Billiton
|
1981
|
-90
|
335.10
|
0.30
|
3.2
|
0.1
|
3.3
|
n/a
|
3.3
|
1.0
|
Note: "Zn-Eq %"
combines Zn, Pb and Ag into a single number and is calculated from
metal prices (US$) as follows: $1.00/lb Zn, $1.00/lb Pb and
$15.00/oz Ag;
|
Background on Carrickittle Prospect
Carrickittle was discovered in 1965 by Tara Exploration and was
drilled throughout 1965 and 1966 with 33 holes. Follow-up work in
the late 1960s and 1970s largely focussed on regional exploration
in the area with an emphasis on soil geochemistry and ground
geophysical surveys, as well as, geological mapping. In 1981,
Billiton drilled seven vertical holes in a wide-spaced pattern
forming a semi-circle on the northern side of the prospect
(returning only weak mineralization).
To Group Eleven's knowledge, previous operators did not focus on
the exact orientation and controls of mineralization at
Carrickittle and little work (outside a few shallow holes) was done
to test the NW oriented faults in the area. Based on the large
number of vertical holes drilled, previous operators appear to have
been searching for flat-lying mineralization (as opposed to
steeply-dipping). Historic exploration also tended to follow an
east-west direction, along the strike of the prospective horizon
(Waulsortian Limestone).
Ongoing Drill Program
Group Eleven continues to progress on the remainder of its drill
program in the Limerick area and will release results in due
course, once work is completed and results are received, compiled
and analysed.
Quality Assurance / Quality Control (QA/QC)
Drill-core samples were prepared and assayed in the ALS Minerals
Laboratory in Loughrea, Ireland.
Samples were fine-crushed (CRU-31) to 70% < 2mm and pulverized
and riffle-split to 85% < 75 µm. Zinc, lead and silver assays
were obtained by multi-acid (4-acid) digestion/ICP-MS Package (48
Elements), with ore-grade samples and Au also analysed using
multi-acid ICP-AES. Analytical accuracy and precision are monitored
by the submission of two standards and one blank inserted into the
sample train of 18 samples by Group Eleven personnel. No duplicate
samples were sent to the lab. ALS ran one blank and two duplicates
as part of their internal QC procedures.
Qualified Person
Technical information in this news release has been approved by
David Furlong, P.Geo., Chief
Operating Officer, and 'Qualified Person' as defined under Canadian
National Instrument 43-101.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA:
3GE) is a mineral exploration company focused on advanced stage
zinc exploration in Ireland.
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.