VANCOUVER, BC, May 26, 2021 /CNW/ - Group Eleven Resources Corp.
(TSXV: ZNG) (OTC: GRLVF) ( FRA: 3GE) ("Group Eleven" or the
"Company") is pleased to announce results from exploration
drilling at Zone 2 of the Carrickittle zinc prospect
("Carrickittle") at its 100%-owned PG West project ("PG
West"), Ireland.
Highlights:
- Drilling represents the Company's maiden program at Zone 2,
part of a systematic approach to consecutively drill Zones 1 to 4,
such that information gained will help focus and de-risk
larger-scale exploration drilling along the 1-kilometre-long
postulated extension to the NW
- Top three zinc-lead intersections from drilling at Zone 2 of
Carrickittle are as follows:
-
- 1.40 metres of 14.8% ZnEq (10.4% lead, 1.9% zinc or
12.4% combined, and 110.0 g/t silver), including 0.85 metres of
21.7% ZnEq (15.5% lead, 2.8% zinc, or 18.2% combined, and 158.6
g/t silver), in G11-2840-13 starting at 27.8 metres downhole (true
width estimated at 33%)
- 6.65 metres of 1.2% ZnEq (0.9% zinc, 0.2% lead, or 1.1%
combined, and 4.5 g/t silver), including 0.30 metres of 13.0%
ZnEq (10.1% zinc, 1.9% lead, or 12.0% combined, and 45.3
g/t silver) in G11-2840-20, starting at 16.5 metres downhole (true
width estimated at 90%)
- 1.91 metres of 3.1% ZnEq (2.5% zinc, 0.6% lead, or 3.1%
combined, 1.6 g/t silver), including 0.40 metres of 13.1%
ZnEq (10.8% zinc and 2.2% lead, or 13.0% combined, and 6.2
g/t silver) in G11-2840-15, starting at 67.7 metres downhole (true
width estimated at 60%)
- All but one of the eight holes drilled intersected meaningful
zinc-lead mineralization, defining two NW-oriented linear trends
with a strike-length of 50 and 100 metres,
respectively (open-ended)
- Silver values up to 198 g/t silver over 0.35
metres were intersected
- The two trends host a series of narrow zinc-lead-silver-bearing
veins, predominantly dipping steeply (60-90°) to the SW and
striking sub-parallel to massive sulphide lenses at
Zone 1
- Results strongly corroborate the NW-oriented controls on
mineralization thus far observed at Carrickittle and provide an
important vector for future exploration towards the
NW
- As per plan, drilling is now underway at the Croom prospect, to
be followed by the Ballywire, Denison and Oola prospects (PG West);
drilling at Carrickittle (expected to total an additional 2,700
metres as part of the Company's fully funded 5,000-metre program
for 2021) is to resume this summer
"We are zeroing in on the prize as we learn more about
Carrickittle and the broader 25-kilometre-long Pallas Green
Corridor," stated Bart Jaworski,
CEO. "A more robust and complete picture is starting to emerge and
we are excited to start the next phase of drilling at Carrickittle
this summer. The immediate focus will be on Zones 3 and 4, where
the prospectivity is materially higher than Zone 2; followed by the
1-kilometre-long corridor to the NW which remains wide-open and
increasingly prospective."
Drilling at Zone 2 of Carrickittle Prospect, PG West Project,
Ireland
Eight holes totalling 920 metres were completed as part of the
Company's maiden drill campaign at Zone 2 of the Carrickittle
prospect (see Exhibit 1 and 2). All but one hole
intersected meaningful zinc-lead mineralization. For reference, the
Company's previous drilling at Zone 1 (completed in November 2020) consisted of nine holes totalling
880 metres.
Exhibit 1. Key Assays from Drilling at Zone 2 of Carrickittle
Prospect, PG West Project, Ireland
|
Hole
ID
|
|
From
|
To
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
ZnEq
|
m x
%
|
|
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(%)
|
(g/t)
|
(%)
|
ZnEq
|
|
G11-2840-13
|
|
27.80
|
31.10
|
3.30
|
0.98
|
5.05
|
6.03
|
68.6
|
7.53
|
24.8
|
|
"
|
incl.
|
27.80
|
30.70
|
2.90
|
1.11
|
5.72
|
6.82
|
76.1
|
8.49
|
24.6
|
|
"
|
incl.
|
27.80
|
29.20
|
1.40
|
1.92
|
10.43
|
12.35
|
110.0
|
14.76
|
20.7
|
|
"
|
incl.
|
28.00
|
28.85
|
0.85
|
2.75
|
15.47
|
18.22
|
158.6
|
21.69
|
18.4
|
|
G11-2840-14
|
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
G11-2840-15
|
|
67.65
|
69.56
|
1.91
|
2.53
|
0.57
|
3.10
|
1.6
|
3.13
|
6.0
|
|
"
|
incl.
|
68.13
|
68.53
|
0.40
|
10.75
|
2.24
|
12.99
|
6.2
|
13.13
|
5.3
|
|
"
|
and
|
79.94
|
81.35
|
1.41
|
0.05
|
1.72
|
1.77
|
4.3
|
1.87
|
2.6
|
|
"
|
incl.
|
80.62
|
81.35
|
0.73
|
0.09
|
2.55
|
2.64
|
6.2
|
2.78
|
2.0
|
|
G11-2840-16
|
|
48.80
|
69.78
|
20.98
|
0.07
|
0.07
|
0.14
|
1.25
|
0.17
|
3.6
|
|
"
|
incl.
|
49.17
|
49.50
|
0.33
|
1.42
|
0.03
|
1.45
|
2.10
|
1.49
|
0.5
|
|
G11-2840-17
|
|
29.81
|
31.62
|
1.81
|
0.81
|
0.19
|
1.00
|
5.0
|
1.11
|
2.0
|
|
"
|
incl.
|
30.42
|
30.77
|
0.35
|
3.13
|
0.74
|
3.87
|
22.6
|
4.36
|
1.5
|
|
G11-2840-18
|
|
60.89
|
71.40
|
10.51
|
0.48
|
0.16
|
0.65
|
1.1
|
0.67
|
7.1
|
|
"
|
incl.
|
62.32
|
63.27
|
0.95
|
3.62
|
0.73
|
4.35
|
7.2
|
4.50
|
4.3
|
|
"
|
and
|
77.70
|
87.87
|
10.17
|
0.05
|
0.24
|
0.29
|
1.5
|
0.32
|
3.3
|
|
"
|
|
85.66
|
85.86
|
0.20
|
0.16
|
1.32
|
1.47
|
11.5
|
1.72
|
0.3
|
|
G11-2840-19
|
|
119.11
|
120.95
|
1.84
|
0.27
|
0.06
|
0.32
|
0.3
|
0.33
|
0.6
|
|
G11-2840-20
|
|
16.45
|
23.10
|
6.65
|
0.88
|
0.20
|
1.08
|
4.5
|
1.17
|
7.8
|
|
"
|
incl.
|
19.00
|
19.30
|
0.30
|
10.05
|
1.93
|
11.98
|
45.3
|
12.97
|
3.9
|
|
"
|
and
|
30.50
|
33.00
|
2.50
|
0.32
|
0.12
|
0.44
|
1.5
|
0.47
|
1.2
|
|
"
|
incl.
|
31.80
|
32.10
|
0.30
|
1.89
|
0.81
|
2.70
|
11.0
|
2.94
|
0.9
|
|
Note: As a percent of
the drilled interval, true thicknesses are estimated to be 33%,
n/a, 60%, 40%, 70%, 90%, 75% and 90% for intercepts in holes -13 to
-20 above, respectively; "ZnEq" 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, $15.00/oz Ag; hole G11-2840-14 did
intersect trace zinc and lead mineralization, however, below 0.1%
on a ZnEq basis;
|
G11-2840-13, -14, -15, -16 and -19 were drilled to test
chargeability-high anomalies along IP lines 2, 3 and 4,
respectively (see Exhibit 2). G11-2840-18 and -20 were
drilled in the opposite direction to the initial holes in order to
intersect the newly interpreted mineralized veins perpendicular to
dip and to conduct a definitive test for massive sulphide bodies
which may have been sub-parallel to the initial holes. G11-2840-17
was drilled to better understand the relationship between historic
intercepts in P4 and P25.
IP chargeability-high anomalies (for more details, see news
release dated February 22, 2021) may
be explained by the presence of a series of narrow mineralized
veins with associated pyrite. Note, massive sulphides at Zone 1 did
not appear to yield any extensive IP anomalies.
It is worth noting that hole G11-2840-19 intersected anomalous
mineralization (1.8 metres of 0.3% zinc + lead) at the base of the
Waulsortian limestone. This is encouraging given the intercept
approaches (within 20-30 metres) the postulated NW extension of
massive sulphides at Zone 1, projected approximately 75 metres
along strike from the last drilling in the area (see Exhibit
2).
Exhibit 3. Key Assays from Historic Drilling at Zone 2 of
Carrickittle Prospect, PG West Project, Ireland
|
Hole
ID
|
|
From
|
To
|
Int
|
Zn
|
Pb
|
Zn+Pb
|
Ag
|
ZnEq
|
m x
%
|
|
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(%)
|
(g/t)
|
(%)
|
ZnEq
|
|
P4
|
|
18.29
|
20.12
|
1.83
|
25.40
|
2.80
|
28.20
|
n/a
|
28.20
|
51.6
|
|
"
|
|
20.12
|
21.95
|
1.83
|
2.22
|
0.08
|
2.30
|
n/a
|
2.30
|
4.2
|
|
"
|
|
21.95
|
23.16
|
1.22
|
4.09
|
1.18
|
5.27
|
n/a
|
5.27
|
6.4
|
|
"
|
|
18.29
|
23.16
|
4.88
|
11.38
|
1.38
|
12.76
|
n/a
|
12.76
|
62.2
|
|
P6
|
|
52.44
|
73.17
|
20.73
|
0.11
|
0.09
|
0.20
|
n/a
|
0.20
|
4.2
|
|
"
|
incl.
|
67.07
|
68.60
|
1.52
|
0.27
|
0.72
|
0.99
|
n/a
|
0.99
|
1.5
|
|
P24
|
|
9.75
|
9.91
|
0.15
|
10.80
|
12.20
|
23.00
|
n/a
|
23.00
|
3.5
|
|
"
|
|
9.91
|
10.67
|
0.76
|
1.05
|
2.20
|
3.25
|
n/a
|
3.25
|
2.5
|
|
"
|
|
9.75
|
10.67
|
0.91
|
2.68
|
3.87
|
6.54
|
n/a
|
6.54
|
6.0
|
|
"
|
and
|
21.34
|
21.80
|
0.46
|
1.23
|
2.80
|
4.03
|
n/a
|
4.03
|
1.8
|
|
P25
|
|
29.47
|
29.99
|
0.52
|
12.00
|
3.50
|
15.50
|
n/a
|
15.50
|
8.0
|
|
"
|
|
29.99
|
30.30
|
0.30
|
3.06
|
0.64
|
3.70
|
n/a
|
3.70
|
1.1
|
|
"
|
|
29.47
|
30.30
|
0.82
|
8.69
|
2.44
|
11.13
|
n/a
|
11.13
|
9.2
|
|
Note: As a percent of
the drilled interval, true thickness is estimated to be 33%, 50%,
10% and 10% for the intervals in the holes above, respectively;
"n/a" = data not available; "ZnEq" 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, $15.00/oz Ag;
|
Next Steps at Carrickittle and Other Prospects at PG West,
Ireland
The rig is now drilling at the Croom prospect (PG West; see
Exhibit 8) where two short holes (totalling 300 metres) are
scheduled over the next few weeks. Drilling is then planned
consecutively for the Ballywire (a prospect with similarities to
Carrickittle), Denison and Oola prospects (PG West; 250 metres, 300
metres and 150 metres, respectively). Drilling at Carrickittle
is expected to resume this summer. Initial focus will be on Zone 3
and 4, before moving on to the 1-kilometre-long projected extension
to the NW.
As previously stated (see news release dated January 28, 2021), the Company estimates it will
be able to drill approximately 5,000 metres in 2021 (fully-funded).
Taking the above prospects (approximately 1,000 metres) and the
1,301 metres drilled to date this year, leaves approximately 2,700
metres for drilling at Carrickittle (approximately 3x the amount
drilled at Zone 2).
It is important to note that prospectivity of Zones 3 and 4
appears to be materially higher relative to Zone 2 based on three
key factors: (i) stronger historic drill results (measured by
'metres x ZnEq%'); (b) the presence of a large fault which is
NW-trending and intensely dolomitized (alteration product
associated with zinc in Ireland);
and (c) the presence of copper (chalcopyrite and malachite are
noted in two historic holes in Zone 4; copper is typically
interpreted as being proximal to higher-grade zinc-lead feeder
zones in Ireland) (see Exhibit
7).
Background on PG West Project (100%-interest),
Republic of Ireland
Carrickittle is hosted within the Company's 100%-owned PG West
project in southwestern Ireland.
PG West is situated within the Limerick basin, a geological feature
which also hosts the Company's contiguous 76.56%-owned Stonepark
project and Glencore's adjacent Pallas Green project (hosting the
Pallas Green zinc-lead deposit[1]; see Exhibit 8).
For reference, the Company's drilling in 2020 at Carrickittle
(at Zone 1) returned 10.3 metres of 14.6% zinc, 5.0% lead (19.6%
combined) and 43 g/t silver in hole G11-2840-04 and 7.24 metres of
23.9% zinc, 6.6% lead (30.5% combined), 108 g/t silver and 0.12%
copper in hole G11-2840-09 (see news releases dated July 6, 2020 and December
9, 2020, respectively).
|
_________________
|
|
1
|
Resources and
Reserves Report (Glencore, December 31, 2020) – 45.4 million tonnes
of 7% Zn + 1% Pb (Inferred)
|
Notes to Exhibit 1: (a) Pallas Green MRE is owned by Glencore;
(b) Stonepark MRE: please refer to the NI 43-101 Independent Report
on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland, with an effective
date of April 26, 2018, as found on
SEDAR; (c) the historic estimate at Denison was reported by
Westland Exploration Limited in 1988, the historic estimate at
Tullacondra was reported by Munster Base Metals Ltd in 1973 and the
historic estimate at Gortdrum was reported by G.M. Steed in 1986;
these 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.
Quality Assurance/Quality Control (QA/QC) Information
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 analysed using multi-acid
ICP-AES. Analytical accuracy and precision are monitored by the
submission of 8 standards and 9 blanks inserted into the sample
train of 302 samples by Group Eleven personnel. ALS analysed 46
blanks, 165 duplicates and 157 standards 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. (TSXV: 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.