Group Eleven drills 14.7 metres of 2% zinc plus lead at Stonepark Project, Ireland

Group Eleven Resources Corp. [TSXV: ZNG; OTCQB: GRLVF; FRA: 3GE] has discovered a new and robust zone of mineralization at its 78.62% interest Stonepark Project in Ireland, adjacent to its 100%-interest PG West project, hosting the Ballywire discovery.

Highlights: Hole 26-2638-07, drilled 550 metres from the closest edge of the Stonepark mineral resource estimate (MRE), intersected 14.7 metres of 2.0% zinc plus lead (1.4% Zn and 0.6% Pb) (from 461 m downhole), including 6.3 metres of 4.1% Zn plus Pb (2.7% Zn and 1.3% Pb), including 2.8 metres of 8.3% Zn plus Pb (5.5% Zn and 2.9% Pb), including 1.0 metre of 21.7% Zn plus Pb (13.8% Zn and 7.9% Pb) and four grams per tonne silver; 16.1 metres of 0.4% Zn (from 507 m downhole), including 7.6 metres of 0.6% Zn, including 1.0 metre of 2.5% Zn plus Pb (2.1% Zn and 0.4% Pb).

Both zones are located within the lowest 65 metres of the Waulsortian limestone and comprise sphalerite, galena and pyrite. The hole was drilled to 894 metres, testing for deeper copper-silver mineralization below the Waulsortian limestone (assays pending).

The intercept above is located 150 metres northwest from the nearest historic hole (TC-2638-030; also outside of MRE), which intersected 3.2 metres of 4.4% Zn plus Pb.

Two additional holes are planned as part of the remainder of current Stonepark drill campaign, totalling 2,700 metres.

At Ballywire, four rigs continue to be active, concentrated on the emerging southwestern extension of the discovery.

“Today’s results represent the most significant progress at the Stonepark Project since we acquired the licence block in 2017,” stated Bart Jaworski, CEO. “Out of the seven step-out holes within the vicinity of the Stonepark MRE drilled by Group Eleven since acquisition, this is by far the most mineralized. Specifically, to find massive to semi-massive sulphide in a previously untested area this far away from the MRE is quite important, especially based on our experience at Ballywire.

“Together with the next closest hole, 150 metres away and also mineralized, potential for resource growth in this immediate locality has drastically improved. Subject to board approval, follow-up drilling is likely to be conducted here as part of the larger (12,800-metre) drill campaign, expected to start in late 2026 or early 2027, while still primarily targeting the mirror image of Glencore’s Pallas Green zinc-lead deposit on the south side of the Limerick volcanic complex. In the interim, we look forward to completing the current 2,700-metre drill campaign at Stonepark over the coming months.”

Mineralization from today’s intercept (starting at 461 m) consists of partial replacement of the Waulsortian limestone in a dissolution breccia (over 14.7 m) with local massive to semi-massive pyrite, sphalerite and lesser galena zones, in aggregate totalling approximately 0.90 m over an interval of 3.06 metres (from 462.75 m to 465.81 m). The lower zone of mineralization (starting at 507 m) consists of minor partial replacement associated with calcite veins and minor pyrite, sphalerite and galena (over approximately 16 m).

In addition to the above, a second hole (26-2531-03) located near the southern portion of the Stonepark Project), was drilled down to 245 metres; however, it encountered bad ground and was terminated prior to reaching its 600-metre target depth. Two more holes are scheduled to be completed over the next several months.

Group Eleven Resources 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 10.8 metres of 10.0% Zn plus Pb and 109 g/t Ag (G11-468-03); 10.5 metres of 14.7% Zn plus Pb, 399 g/t Ag and 0.31% Cu (G11-468-12); 29.6 metres of 10.6% Zn plus Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12); 11.8 metres of 11.6% Zn plus Pb and 48 g/t Ag (G11-3552-18); 15.6 metres of 11.6% Zn plus Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27); 12.0 metres of 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including 6.4 metres of 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31); 39.7 metres of 9.5% Zn plus Pb, 131 g/t Ag and 0.27% Cu (25-3552-35); 25.6 metres of 9.2% Zn plus Pb and 28 g/t Ag (25-3552-39); 52.3 metres of 10.3% Zn plus Pb, 330 g/t Ag and 0.40% Cu (25-3552-51), including 8.4 metres of 18.2% Zn plus Pb, 1,776 g/t Ag, 2.21% Cu and 0.18% Sb (25-3552-51); 23.5 metres of 12.3% Zn plus Pb and 46 g/t Ag (25-3552-53) and 2.8 metres of 110 g/t Ag, 5.09% Cu and 0.44% Sb (26-3552-57).

Ballywire is located 20 km from the company’s 78.62%-owned Stonepark zinc-lead deposit located adjacent to Glencore’s Pallas Green zinc-lead deposit. The company’s two largest shareholders are Michael Gentile (13.7% interest) and Glencore Canada Corp. (12.9% interest).