Group Eleven Resources drills 10.6% Zn+Pb over 29.6 metres at PG West, Ireland

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Group Eleven Resources Corp. [TSXV-ZNG; OTCQB-GRLVF; FSE-3GE] reported results from the most recent four holes of the 2024 drill program at the company’s 100%-owned Ballywire zinc-lead-silver discovery on the PG West project in the Republic of Ireland.

Highlights: Best intersection to date at Ballywire: 29.6m of 10.6% Zn+Pb (4.0% Zn and 6.6% Pb), 78 g/t Ag and 0.15% Cu (from 283.4m down hole), in G11-3552-12, a 180m step-out from the discovery area, including 12.9m of 16.6% Zn+Pb (5.8% Zn and 10.8% Pb), 123 g/t Ag and 0.19% Cu, including 5.2m of 24.1% Zn+Pb (2.8% Zn and 21.3% Pb), 76 g/t Ag and 0.10% Cu and 6.8m of 12.6% Zn+Pb (8.5% Zn and 4.1% Pb), 172 g/t Ag and 0.29% Cu.

Mineralization consists predominantly of massive and semi-massive sulphide, as well as disseminated and vein hosted sulphide mineralization

G11-3552-12 was drilled approximately 50m up-dip of hole G11-3552-09 which returned a 21.8m zone of mineralization, including 2.8m of 4.1% Zn+Pb (3.4% Zn and 0.8% Pb) and 5 g/t Ag, suggesting mineralization was strengthening up-dip and to the north. Mineralization was intersected in all four step-out holes

Drilling continues with two rigs, testing 50m up-dip and to the north of G11-3552-12 and testing gravity anomaly B, respectively; with further holes planned for follow-up drilling at gravity anomaly C2

“With an intercept of over 29 metres of high-grade mineralization, G11-3552-12 is by far our best hole to date at Ballywire,” stated Bart Jaworski, CEO. “We are excited that high-grade mineralization over a strike of 710m at the discovery area has now been extended by 180m, or 25%, to a new total of 890m . We are also pleased to see record widths of high-grade mineralization in this hole potentially indicating that we may be vectoring in towards a higher grade and more robust part of the system. To date, we have intersected robust mineralization at Ballywire over a strike length of 2.6km, from an historic high-grade intercept 1km west of the discovery area, through the 890m strike of the discovery area to the large step-out holes announced in April 2024. Our prospective trend, informed by gravity-high anomalies along the Waulsortian Limestone has a strike-length of over 6km. We look forward to continuing to systematically drill testing these anomalies. With a 2.6km-long footprint, a 6km-long prospective trend and increasingly robust intervals of massive sulphide, Ballywire is increasingly showing signs of a major zinc-lead-silver discovery.”

The Ballywire prospect at the company’s 100%-owned PG West Project in Republic of Ireland, is a new zinc-lead-silver discovery (first announced September 2022). In addition to 25 holes drilled and reported by Group Eleven to date, the most recent four step-out holes (G11-3552-09, to -12) of the 2024 program are reported today. Step-out distance of G11-3552-12 from G11-3552-03 is approx. 180m

Today’s drill results extend known high-grade massive sulphide mineralization by 180m or 25%, from a strike length 710m to 890m. G11-3552-12 represents the strongest mineralization to date at Ballywire, adding to an already strong set of previous intercepts (e.g. 11.2m of 8.9% Zn+Pb and 83 g/t Ag in G11-3552-03; and 10.8m of 10.0% Zn+Pb and 109 g/t Ag in G11-468-03, etc.

The extensive envelope of massive and semi-massive sulphide mineralization in G11-3552-12 justifies further drilling eastwards, especially towards hole G11-3552-07 (360m away) which intersected very high grades of silver and copper suggesting proximity to a feeder structure.

Elevated germanium levels are correlated with high zinc concentrations in previous holes at Ballywire. Germanium will be assayed in G11-3552-12 in due course. G11-3552-13 is in progress and is testing the continuation of mineralization 50m up dip of G11-3552-12

G11-3552-10 and -11, located 50m and 100m north of G11-3552-08, respectively, returned weak mineralization along or near the base of the Waulsortian Limestone. True width as a percentage of drilled intercept is approximately 90-100% for G11-3552-09, -10 and -11.

Group Eleven Resources a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022.

The company’s two largest shareholders are Glencore Canada Corp. (18.1% interest) and Michael Gentile (15.0%).

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