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Group Eleven Resources Corp
Symbol ZNG
Shares Issued 64,159,504
Close 2020-01-10 C$ 0.045
Recent Sedar Documents

Group Eleven drills 1.95 m of 0.4 g/t 4E at Ballinalack

2020-01-14 09:49 ET - News Release

Mr. Bart Jaworski reports

GROUP ELEVEN IDENTIFIES ANOMALOUS PALLADIUM, NICKEL AND COBALT AT BALLINALACK ZINC PROJECT, IRELAND

Recent drilling at Group Eleven Resources Corp.'s 60-per-cent interest Ballinalack zinc project in the Republic of Ireland has intersected a sulphide-bearing mafic dike with anomalous platinum-group metals (PGMs, including platinum, palladium and rhodium) and gold, along with highly anomalous copper, nickel and cobalt. The dike appears to laterally extend over several kilometres. Previous operators at Ballinalack did not assay for PGMs and, to Group Eleven management's knowledge, PGM exploration in the Republic of Ireland has never been conducted. Group Eleven views the results as a potential sweetener to Ballinalack, which remains primarily a zinc-focused project. Zinc-lead results from the recently completed Ballinalack drill program are expected over the next few weeks.

Highlights:

  • G11-1344-03 intersected 1.95 metres of 0.403 gram per tonne 4E (platinum, palladium, rhodium and gold) and 0.24 per cent copper, including 0.95 m of 0.561 g/t 4E, 0.33 per cent copper and 0.11 per cent nickel.
  • From G11-1344-03, a grab sample isolating sulphide-rich core (over 14 centimetres) returned 0.872 g/t 4E, 0.56 per cent copper and 0.25 per cent nickel.
  • Another grab sample of sulphide-rich core (over five cm) returned 1.08 per cent nickel, 0.32 per cent copper, 1,105 parts per million cobalt and 0.139 g/t 4E.
  • G11-1344-04 intersected 0.60 m of 0.33 per cent nickel, 0.23 per cent copper, 474 ppm cobalt and 0.214 g/t 4E.
  • Resampling historic hole TC-1344-039 returned 2.3 m of 0.216 g/t 4E, 0.19 per cent copper, 0.18 per cent nickel, 203 ppm cobalt, including 0.3 m of 0.528 g/t 4E, 0.43 per cent nickel, 0.37 per cent copper and 494 ppm cobalt.
  • The aforementioned three holes pierce the dike over a strike length of over 400 m near the Ballinalack zinc deposit; dike appears to extend over at least three kilometres by seven km, based on drilling and seismic data.
  • Group Eleven suspects the mentioned intercepts may represent rip-up clasts from a larger sulphide body, which may be a key exploration target in the future.

"The ... results were unexpected and a bit out of left field, given our exploration efforts were fully geared towards zinc," stated Bart Jaworski, chief executive officer. "Despite being a surprise, these anomalous PGM results certainly add to the Ballinalack story. We intend to do more work on PGMs in the future as we remain focused on exploring for zinc and expanding the existing Ballinalack zinc deposit."

Details on mafic dike

Group Eleven drilled two diamond drill holes (G11-1344-03 and G11-1344-04) beneath the existing Ballinalack zinc-lead deposit. In addition to testing the pale beds for zinc mineralization (to be reported in the next few weeks), the holes intersected a mafic dike with downhole thicknesses (true widths unknown) of 29 m and 56 m, respectively. The latter intercept represents the thickest known dike intercept on the property. Sulphide mineralization was observed at the base of the dike, which in turn led Group Eleven staff to analyze for PGMs at a nearby historic hole (TC-1344-039, drilled by Teck Resources Ltd. in 2010), which also exhibited similar material. Key information:

  • Assay results from new Group Eleven drilling and new PGM assays from historic hole (TC-1344-039) are summarized in the included table.
  • The dike appears to be laterally extensive over several kilometres; the thickest portions (greater than 10 m downhole thickness) of the mafic dike appear to occur over an area of over three km by seven km, based on recent and historic drilling, as well as seismic data.
  • The previously discussed three holes pierce the dike over a strike length of over 400 m.
  • The dike has been intersected at shallow depths on the eastern part of the property and at deeper levels toward the west; depths of the mafic dike within the three holes are approximately 650 to 700 m below surface.
  • Group Eleven has not yet been able to analyze historic drill logs and drill core to determine if, and to what extent, previously intersected mafic dike material contained sulphides (historic drilling was focused solely on zinc exploration and descriptions of the mafic dike may have been very cursory in nature).
  • Based on the textures of the sulphides, Group Eleven suspects the intercepts may represent rip-up clasts from a larger sulphide body, which may be a key exploration target in the future.

        HIGHLIGHTS OF NEW ASSAYS FROM MAFIC DIKE NEAR THE BALLINALACK ZINC-LEAD DEPOSIT, IRELAND

Hole ID             From      To  Interval     4E     Pd     Pt     Rh     Au     Ni     Cu     Co  PtEq
                     (m)     (m)       (m)    g/t    g/t    g/t    g/t    g/t      %      %    ppm   g/t
Interval samples
G11-1344-03       689.40  690.40      1.00  0.254  0.138  0.087  0.001  0.028  0.046  0.154     41  0.95
"                 690.40  691.35      0.95  0.562  0.325  0.186  0.001  0.050  0.113  0.328     66  2.10
"                 689.40  691.35      1.95  0.404  0.229  0.135  0.001  0.039  0.078  0.239     53  1.51
G11-1344-04       655.60  656.20      0.60  0.214  0.116  0.044  0.045  0.009  0.331  0.226    474  3.00
TC-1344-039       624.80  625.10      0.30  0.528  0.315  0.141  0.034  0.038  0.428  0.366    494  4.20
"                 625.10  625.50      0.40  0.349  0.196  0.108  0.015  0.030  0.489  0.406    546  4.25
"                 625.50  626.70      1.20  0.078  0.040  0.029  0.001  0.008  0.019  0.038     39  0.33
"                 626.70  627.10      0.40  0.267  0.161  0.078  0.002  0.026  0.171  0.274    136  1.90
"                 624.80  627.10      2.30  0.216  0.124  0.066  0.008  0.019  0.181  0.186    203  1.79
Grab samples
G11-1344-03       688.95  689.00      0.05  0.139  0.113  0.022    n/a  0.005  1.075  0.321  1,105  7.05
"                 689.00  689.10      0.10  0.064  0.046  0.014    n/a  0.004  0.312  0.104    301  2.08
"                 689.87  690.02      0.15  0.252  0.141  0.081  0.002  0.028  0.043  0.146     43  0.93
"                 690.55  690.67      0.12  0.160  0.091  0.048  0.001  0.021  0.039  0.087     34  0.64
"                 690.67  690.81      0.14  0.876  0.544  0.264  0.004  0.064  0.247  0.560    125  3.76

Update on zinc exploration drilling

All drilling at Ballinalack as part of the current exploration phase announced on Aug. 6, 2019, has now been completed. Zinc-focused assays and interpretation are nearing completion. Group Eleven aims to provide a full update on these results over the next few weeks.

About the Ballinalack project

The Ballinalack project is a joint venture between Group Eleven (60-per-cent interest) and Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. (40-per-cent interest), one of the largest zinc producers in China, and is located in counties Westmeath and Longford, northeast Ireland. The property contains what is believed by the company to be the third-largest undeveloped zinc-lead occurrence in Ireland and is located approximately 50 km west from the currently producing Navan zinc-lead mine (Boliden AB).

Qualified person

Technical information in this news release has been approved by David Furlong, PGeo, chief operating officer and qualified person as defined under Canadian National Instrument 43-101.

About Group Eleven Resources Corp.

Group Eleven is a mineral exploration company focused on advanced-stage zinc exploration in Ireland. The company's large land package allows Group Eleven to leverage new geological approach and geophysical technology to systematically rethink key aspects of the Irish zinc district.

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