Group Eleven drills 4.3% Zn+Pb over 30.4 metres at PG West, Ireland

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Group Eleven Resources Corp. [TSXV-ZNG; OTCBB-GRLVF; FSE-3GE] reported drill results from five stepout holes at its 100%-owned Ballywire zinc-lead-silver discovery, PG West project, Republic of Ireland. One more step-out hole (plus two nearby regional holes) and germanium assays remain pending from the Ballywire area, with results expected over the coming weeks.

Highlights: G11-3552-03 (160-metre easterly step-out) returned 11.2 m of 8.9% Zn+Pb (zinc plus lead) (5.6% Zn and 3.3% Pb) and 83 g/t Ag (silver), including 4.7 metres of 9.7% Zn+Pb (3.7% Zn and 6z% Pb) and 79 g/t Ag (true width estimated to be 90-100% of drilled interval).

G11-468-13 (50 m northerly step-out) returned 9.7 metres of 7.5% Zn+Pb (4.3% Zn and 3.2% Pb) and 43 g/t Ag, in a wider interval totalling 30.4 metres of 4.3% Zn+Pb (3% Zn and 1.4% Pb) and 25 g/t Ag, including 5.6 metres of 9.8% Zn+Pb (4.8% Zn and 5.1% Pb) and 60 g/t Ag (true width of 90-100%).

G11-468-15 (80 m easterly step-out) returned 4.9 metres of 11.8% Zn+Pb (2.6% Zn and 9.2% Pb) and 84 g/t Ag (true width of 90-100%).

G11-468-14 (80 m easterly step-out, 50 metres south of G11-468-15) returned 10.2 metres of 4.4% Zn+Pb (0.7% Zn and 3.7% Pb) and 19 g/t Ag, including three metres of 8% Zn+Pb (0.8% Zn and 7.2% Pb) and 38 g/t Ag (true width of 70-90%).

Mineralization above consists of sphalerite and galena, occurring bedding-parallel at or near the base of the Waulsortian limestone, which dips gently to the south-southeast.

“This is a very strong set of assay results from holes drilled significant distances from previously known mineralization,” stated Bart Jaworski, CEO. “The strike-length of known high-grade mineralization has increased by 29%, or 160 metres, to the east, from 550 metres to 710 metres. Including a massive sulphide intercept from 1997, we now have 1.7 k of strike length over which robust mineralization has been intercepted. We are especially excited by the fact that we have yet to test two large gravity-high anomalies on either side of the discovery area, over a distance of 2.9 km. And we have a further two gravity-high anomalies, also untested, giving us a total prospective trend of about 6 km.”

The Ballywire prospect at the company’s 100%-owned PG West Project in Republic of Ireland, is a new zinc-lead-silver discovery (initially announced in September 2022). In addition to 15 holes drilled and reported by Group Eleven to date, five step-out holes are reported today. These holes step out from previously known mineralization by 50 metres to the north, 80 metres to the east and 160 metres to the east.

Relative to recently announced gravity-high anomalies, the above drill holes are located on the eastern margins of the ‘C1’ anomaly. Anomalies ‘B’, ‘C2’ and ‘C3’ remain to be drilled.

The above holes expand the strike-length of known high-grade mineralization by 160 metres or 29%, from 550m to 710m. Including a massive sulphide intercept from 1997, robust mineralization has been intercepted over 1.7km. Two large gravity-high anomalies yet to be drill tested on either side of the discovery area are highly prospective and total a distance of 2.9km. A further two gravity-high anomalies, also untested, underpin an overall prospective trend of approx. 6km.

Ballywire is located in the SE portion of the company’s 100%-owned PG West Project, Republic of Ireland. PG West, including the nearby Tullacondra prospect, covers an area of 650 km2 (251 square miles) and is contiguous with the company’s Stonepark project (covering 184 km2; 76.56% interest). Ballywire is located approximately 20km SE of Glencore’s Pallas Green deposit and approximately 50km SW of the historic Lisheen zinc mine (closed in 2015).

The company’s two largest shareholders are Glencore Canada Corp. (20.8% interest) and Michael Gentile (16.5%).

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