Highlights
- G11-3552-04, a 50m step-out north of G11-3552-03, intersected a thick (72.1m) package of mineralization hosting two higher-grade zones:
- 2.5m of 4.4% Zn+Pb (3.4% Zn and 1.1% Pb) and 21 g/t Ag (starting at a depth of 225.0m) including 0.8m of 6.5% Zn+Pb (4.8% Zn and 1.7% Pb) and 35 g/t Ag, and
- 2.7m of 3.5% Zn+Pb (1.9% Zn and 1.6% Pb) and 23 g/t Ag (starting at a depth of 253.0m), including 0.4m of 14.2% Zn+Pb (9.6% Zn and 4.6% Pb) and 84 g/t Ag
- True widths are estimated to be approx. 100% of drilled intervals
- Mineralization occurs as sphalerite, galena and pyrite and is bedding parallel along and close to the base of the Waulsortian limestone
- For reference, G11-3552-03 (announced 21-Nov-2023) returned 32.7m of 4.4% Zn+Pb and 37 g/t Ag including 11.2m of 8.9% Zn+Pb and 83 g/t Ag
- Mineralization between the above two holes is interpreted to be offset by approx. 25m along a steep-dipping fault (which will be used to help locate future drill targets to the east)
- As announced on 11-Jan-2024, two drill rigs have been mobilized to test gravity anomalies at Ballywire; drilling is progressing well and on schedule
- In addition to the above, the Company reports further elevated germanium grades from re-assay of previously announced high-grade Zn-Pb-Ag mineralized intervals
- A new licence was awarded to the Stonepark Joint Venture (76.56% owned by Group Eleven)
"It's great to see the footprint of our Ballywire discovery continue to increase, especially as two rigs recently re-started drilling on the project," stated
Last Hole from 2023 Drill Campaign at Ballywire
The Ballywire prospect at the Company's 100%-owned
For reference, G11-3552-03 (announced 21-Nov-2023) returned 32.7m of 4.4% Zn+Pb and 37 g/t Ag including 11.2m of 8.9% Zn+Pb and 83 g/t Ag. Mineralization in the G11-3552-03 and -04 is interpreted to be offset by approx. 25m along a steep-dipping fault (see Exhibit 2). This fault may help in the vectoring of drill targets towards the east.
Exhibit 3. Summary of Assays from Last Hole (G11-3552-04) of 2023 Drill Program at Ballywire
Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) |
190.65 | 262.72 | 72.07 | 0.65 | 0.26 | 0.91 | 4.9 | |
Incl. | 214.03 | 214.90 | 0.87 | 3.15 | 1.04 | 4.19 | 34.4 |
And | 224.95 | 227.40 | 2.45 | 3.36 | 1.06 | 4.43 | 21.4 |
Incl. | 224.95 | 226.51 | 1.56 | 4.00 | 1.52 | 5.52 | 31.0 |
Incl. | 224.95 | 225.77 | 0.82 | 4.84 | 1.69 | 6.53 | 34.6 |
And | 231.21 | 232.09 | 0.88 | 4.07 | 0.33 | 4.40 | 6.3 |
And | 250.22 | 260.89 | 10.67 | 0.98 | 0.89 | 1.87 | 12.9 |
Incl. | 253.98 | 260.89 | 6.91 | 0.96 | 1.25 | 2.21 | 17.7 |
Incl. | 250.22 | 254.82 | 4.60 | 1.80 | 0.90 | 2.70 | 13.1 |
Incl. | 251.17 | 254.82 | 3.65 | 1.79 | 1.04 | 2.83 | 15.0 |
Incl. | 253.01 | 255.66 | 2.65 | 1.88 | 1.61 | 3.49 | 22.8 |
Incl. | 253.98 | 254.82 | 0.84 | 5.37 | 3.84 | 9.21 | 53.5 |
Incl. | 253.98 | 254.39 | 0.41 | 9.62 | 4.55 | 14.17 | 83.9 |
Note: True width as a percentage of drilled intercept is approximately 100% |
The above drill hole is located north of the high-grade trend associated with the recently announced 'C1' gravity-high anomaly (see news release dated 17-Oct-2023; see Exhibit 4). Anomalies 'B', 'C2' and 'C3' have not yet been drilled and are the focus of drill testing on the current (2024) drill campaign.
In addition to the above, the Company recently selected several high-grade intervals from the Company's Ballywire drilling to test for germanium (using lithium borate fusion assay). The new assays returned elevated germanium (Ge) levels, broadly similar to those previously reported (see Exhibit 5). With Ge trading at nearly twice that of silver (approx.
Exhibit 5. Summary of New and Previous Ge Assays from Recent Drill Holes at Ballywire
Item | Hole ID | From | To (m) | Int | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) | Ge (g/t) |
Prev | G11-468-01 | 312.70 | 316.00 | 3.30 | 10.11 | 2.38 | 12.48 | 48.3 | 26.5 |
Prev | G11-468-03 | 228.20 | 228.57 | 0.37 | 21.40 | 3.76 | 25.16 | 171.0 | 26.2 |
Prev | " | 229.31 | 229.87 | 0.56 | 32.70 | 13.70 | 46.40 | 632.0 | 63.2 |
Prev | " | 251.65 | 254.60 | 2.95 | 4.42 | 2.89 | 7.32 | 104.1 | 10.3 |
Prev | " | 256.45 | 258.50 | 2.05 | 30.52 | 10.26 | 40.78 | 384.7 | 47.8 |
Prev | G11-468-06 | 292.00 | 292.28 | 0.28 | 17.80 | 1.76 | 19.56 | 67.6 | 38.0 |
Prev | " | 292.78 | 292.90 | 0.12 | 13.65 | 1.09 | 14.74 | 39.4 | 26.5 |
Prev | " | 297.70 | 297.80 | 0.10 | 24.30 | 1.13 | 25.43 | 60.1 | 70.7 |
Prev | " | 298.15 | 298.55 | 0.40 | 15.95 | 4.83 | 20.78 | 97.0 | 34.3 |
New | " | 304.60 | 307.08 | 2.48 | 20.41 | 8.75 | 29.16 | 160.0 | 19.3 |
New | " | 346.34 | 346.66 | 0.32 | 2.55 | 40.20 | 42.75 | 187.0 | 3.5 |
New | G11-468-10 | 400.17 | 400.46 | 0.29 | 3.07 | 2.40 | 5.47 | 83.0 | 1.7 |
New | G11-468-11 | 258.31 | 261.30 | 2.99 | 0.05 | 0.05 | 0.10 | 24.5 | 0.3 |
New | G11-468-12 | 266.36 | 270.68 | 4.32 | 5.59 | 3.17 | 8.76 | 148.8 | 12.4 |
New | Incl. | 266.36 | 267.13 | 0.77 | 9.14 | 1.60 | 10.74 | 40.9 | 24.4 |
New | And | 269.00 | 269.57 | 0.57 | 13.95 | 1.70 | 15.65 | 45.8 | 25.1 |
New | " | 292.00 | 295.14 | 3.14 | 10.81 | 11.99 | 22.81 | 510.0 | 10.1 |
New | G11-468-13 | 264.45 | 265.20 | 0.75 | 11.25 | 2.43 | 13.68 | 57.6 | 15.8 |
New | " | 272.05 | 273.27 | 1.22 | 10.67 | 11.50 | 22.16 | 107.8 | 7.4 |
New | " | 281.08 | 281.60 | 0.52 | 15.05 | 0.99 | 16.04 | 63.2 | 6.6 |
New | G11-468-15 | 272.38 | 272.57 | 0.19 | 11.35 | 10.85 | 22.20 | 199.0 | 11.4 |
New | " | 273.26 | 273.80 | 0.54 | 8.16 | 23.30 | 31.46 | 170.0 | 10.5 |
New | G11-3552-03 | 218.76 | 219.20 | 0.44 | 13.65 | 8.49 | 22.14 | 93.9 | 8.9 |
New | " | 280.56 | 281.29 | 0.73 | 31.40 | 7.25 | 38.65 | 160.0 | 24.4 |
New | " | 285.12 | 286.05 | 0.93 | 8.20 | 8.87 | 17.07 | 81.9 | 6.5 |
New | " | 291.62 | 291.80 | 0.18 | 24.00 | 3.12 | 27.12 | 397.0 | 12.4 |
Note: True width as a percentage of drilled intercept is: 90-100% for G11-468-11, G11-468-12, G11-468-13, G11-468-15 and |
New Prospecting Licence at Stonepark and Background Information on Ballywire Discovery
Ballywire is located in the SE portion of the Company's 100%-owned
The Company recently applied for and was subsequently awarded a prospecting licence (PL3824; see Exhibit 6), located within the
Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated
Qualified Person
Technical information in this news release has been approved by Professor
Quality Assurance/Quality Control (QA/QC) Information
Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Neither
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
© Canada Newswire, source