Group Eleven Announces Start of Follow-Up Drill Program and Reports Elevated Germanium at Ballywire Zinc Discovery, Ireland
Group Eleven Announces Start of Follow-Up Drill Program and
Reports Elevated Germanium at Ballywire Zinc Discovery, Ireland
Vancouver, Canada, November 22, 2022 - Group Eleven Resources Corp. (TSX -V: ZNG; OTC: GRLVF;
FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce the commencement of a follow-
up drill program stepping out from the recently announced discovery hole at its Ballywire zinc prospect
(“Ballywire”), PG West Project (“PG West”, 100%-interest), Republic of Ireland.
Highlights - Ballywire:
• Mobilization has begun on the previously-announced (see news release dated Sept 27, 2022)
follow-up program at Ballywire, consisting of an initial five (5) holes totalling approx. 1,500m
• Step-out distances are planned to range from 80m to 220m from discovery hole G11-468-03
• For reference, G11 -468-03 was a 410m step -out exploration hole which intersected one of the
best holes drilled in Ireland over recent years : 66.0m of mineralization incl uding (i) 6.85m of
15.4% Zn+Pb (11.1% Zn, 4.3% Pb) and 160 g/t Ag, (ii) 1.71m of 12.2% Zn+Pb (10.3% Zn and 1.9%
Pb) and 38 g/t Ag and (iii) 5.00m of 8.3% Zn+Pb (6.2% Zn and 2.1% Pb) and 107 g/t Ag (true widths
80-100% of intercepted width; see news release dated Sept 6, 2022)
• One drill rig will be used for the follow-up program, with results expected in early Q1 2023
• Ballywire discovery area remains open along strike for 3km to the ENE and 1.5km to the W, as
well as, up-dip to the NNW for at least 500m
• Separately, to test for Energy Critical Metals which may occur in Irish-Type zinc deposits, the
Company re-assayed high-grade portions of the Ballywire discovery hole
• Assays show significantly elevated germanium (currently trading at approx. US$31/oz, 40% higher
than silver at US$22/oz), with the majority of grades between 23 g/t Ge and 79 g/t Ge
• The above results represent some of the highest Ge grades known in Ireland and co mpare
favourably to grades at Ivanhoe’s Kipushi zinc project in DRC (64 g/t Ge), stated by the USGS to be
the most significant carbonate-hosted Zn-Pb-Cu system containing notable amounts of Ge
Highlights - Other
• At the Carrickittle West target (Stonepark Project; see news release dated June 16, 2022), drilling
is expected to begin upon receipt of permitting approvals and as logistical considerations allow
• As previously stated, both follow-up programs at Ballywire and Carrickittle West are expected to
be funded from the Company’s existing treasury
• Drilling on the Company’s regional targets at the PG West and Stonepark projects have now been
completed; results expected in due course; the Company has, to date, drilled 6,042m in 2022
“We are excited to begin this very important follow -up drill program at Ballywire, ” stated Bart
Jaworski, CEO. “Results from this program should go a long way towards determining the potential for
Ballywire to be a Lisheen-scale zinc system in terms of size and grade. It’s regional location at the
cross-roads of two mineralized trends (the Rathdowney Trend and the Pallas Green Corridor), its three
holes of robust mineralization over 1.5km strike -length and its proximity to Glencore’s Pallas Green
zinc-lead deposit, all bode well for the discovery potential of this area. The presence of elevated
germanium is also a potentially significant sweetener that we will, no doubt, investigate further.”
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Drill Program at Ballywire, PG West Project (100%-interest), Ireland
The 2022 follow-up drill program at Ballywire is planned to consist of five step-out holes totalling
approximately 1,500m (see blue dots in Exhibit 1). These holes are designed to individually step-out
between 80 and 2 20m from discovery hole G11-468-03 (see news release dated September 6th,
2022). Specific hole locations reflect optimal concentric coverage around the discovery hole , while
taking into account local logistical considerations. Note, hole locations are indicative -only and may
change as the program evolves.
Exhibit 1. Plan View of New Drilling at Ballywire Prospect, PG West Project (100% interest), Ireland
High-grade zinc-lead mineralization at Ballywire is currently pierced by three holes over approximately
1.5km (see 97-468-02, G11-468-01 and G11-468-03 in Exhibit 1):
• 97-468-02 (1997): 2.50m of 6.2% Zn+Pb (3.0% Zn and 3.2% Pb), including 0.50m of 20.3% Zn+Pb
(9.6% Zn + 10.7% Pb)
• G11-468-01 (2021): 3.30m of 12.5% Zn+Pb (10.1% Zn + 2.4% Pb) and 48.3 g/t Ag, including 0.40m
of 25.5% Zn+Pb (20.1% Zn and 5.4% Pb) and 92.2 g/t Ag
• G11-468-03 (2022): 6.85m of 15.4% Zn+Pb (11.1% Zn and 4.3% Pb) and 160.3 g/t Ag, including
2.05m of 40.8% Zn+Pb (30.5% Zn and 10.3% Pb) and 384.7 g/t Ag
The discovery area around G11 -468-03 currently remains open and untested along strike for
approximately 3km to the ENE and 1.5km to the W, as well as, up-dip to the NNW for at least 500m
(see Exhibit 1). Notably, the next nearest historic hole testing the target horizon to the ENE (99-3552-
05) is 3km away and intersected 5.00m of 1.6% Zn+Pb.
Drilling to date at Ballywire consistently shows mineralized zones to be generally bedding -parallel
along the base of the Waulsortian limestone, similar to the morphology of classic Iris h-type zinc
deposits. The base of the Waulsortian limestone at Ballywire dips to the SSE, shallowing to the NNW.
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Germanium Potential at Ballywire
Due to its application in high -tech industries and its scarcity on the Earth’s crust , the element
germanium (Ge) has been on the European Union L ist of Critical Raw Materials since 2010. Other
counties that designate Ge as a critical element include US, China, Australia and Canada. The American
Physical Society categorizes Ge as one of the ‘Energy Critical Elements’. China produces 80% of global
supply of Ge and as of 2019, “no trade agreements exist ed between China and EU regarding
germanium trade,” according to the European Commission. The primary use of germanium is in fibre
optics and hi gh-end solar panel technologies . Ge currently trades at approx imately US$1,000/kg or
US$31/oz (about 40% above the price of silver at US$21/oz).
Outside of some coal deposits, Ge is known to occur in trace quantities within some zinc deposits,
including Mississippi Valley Type (MVT) zinc -lead deposits which are present in Ireland. To test this
potential, Group Eleven chose nine core samples (each representing a downhole length between
0.29m and 1.17m) of high -grade massive sulphide mineralization from discovery hole G11-468-03.
These previous sample pulps were re-analysed using an assay technique specifically suited for gallium,
germanium and indium (lithium borate fusion). Results are shown in Exhibit 2.
Exhibit 2. Germanium Results from High-Grade Core of G11-468-03 at Ballywire Prospect, Ireland
From
(m)
To
(m)
Int
(m)
Description Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Ge
(g/t)
228.20 228.57 0.37 MS pebbles 21.40 3.76 25.16 171.0 26.2
229.31 229.87 0.56 MS lens Sph & Gal 32.70 13.70 46.40 632.0 63.2
251.65 252.82 1.17 MS - mainly Py (Gal) 5.35 1.09 6.44 106.0 14.5
252.82 253.82 1.00 MS - mainly Py (Gal + Sph) 3.54 4.56 8.10 113.0 6.5
253.82 254.60 0.78 MS - Py more (Sph + Gal) 4.17 3.47 7.64 89.7 8.8
256.45 257.00 0.55 MS - Sph/Gal/Py 32.70 19.70 52.40 540.0 55.1
257.00 257.81 0.81 MS - Sph/Gal/Py 32.10 10.40 42.50 339.0 38.4
257.81 258.10 0.29 MS - Sph/Gal/Py 44.30 3.35 47.65 496.0 79.2
258.10 258.50 0.40 MS - Sph/Gal/Py 14.35 2.00 16.35 183.0 33.9
268.88 269.72 0.84 BNL - Sph cemented Bx 17.35 1.99 19.34 55.2 23.2
Note: ‘MS’ = massive sulphide within the Waulsortian Limestone , ‘Sph’ = sphalerite (zinc -bearing mineral), ‘Gal’ = galena
(lead-bearing mineral), ‘Py’ = pyrite, ‘BNL’ = Ballynash (below Waulsortian Limestone), ‘Bx’ = breccia
For global context, Ge does not form stand-alone deposits, instead only occurring as a rare by-product
in some zinc or coal deposits. According to the USGS1, the most significant carbonate-hosted zinc-lead-
copper deposit that contains notable amounts of germanium is the Kipushi deposit in the Democratic
Republic of the Congo. USGS states that Kipushi contains an average grade of 68 g/t Ge. This is in line
with Ivanhoe’s recent announcement on Kipushi noting its Mineral Resource Estimate (Measured &
Indicated; dated June 14, 2018) hosting 11.8mt of 35.3% Zn, 0.80% Cu, 1.1% Pb, 23 g/t Ag, 13 g/t Co
and 64 g/t Ge (see Ivanhoe Mines news release dated Feb 14, 2022). Similarly, the Ballywire results
above rank as one of the highest grades of Ge within the known zinc deposits in Ireland.
Regional Setting of the Ballywire Zinc Prospect, PG West Project (100%-interest), Ireland
The Ballywire zinc prospect is located at the intersection of the south -westerly projection of the
Rathdowney Trend (which hosts the past -producing Lisheen and Galmoy zinc mines) and the Pallas
Green Corridor (see Exhibit 3). Historic drilling at the Ballywire prospect was sparse, last being worked
1 US Geological Survey; Professional Paper 1802-I titled “Germanium and Indium” (Shanks III et al, 2017)
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by operators in 2008. Group Eleven staked the prospect in 2016 based on compelling results from the
two most-recent historic holes.
Exhibit 3. Location of Ballywire Zinc Prospect, PG West (100% interest) Project, Ireland
Notes to Exhibit 3: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves
Report dated December 31, 2021); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the
Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente,
with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison
was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot
Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis
of the Gortdrum Cu -Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at
Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David
Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow,
Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as
current mineral resources; none of the key assumptions, parameters and methods used to prepare
the historic estimates were reported and no resource categories were used; significant data
compilation, re-drilling and data verification may be required by a Qualified Person before the historic
estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified
Person has not done sufficient work to classify them as a current mineral resource and the Company
is not treating the historic es timates as current mineral resources. ‘Rathdowney Trend’ is the south-
westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls, Eur Geol,
P.Geo, FSEG , geological consultant at IGS (International Geoscience Services) Limited, and
independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
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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 resu lts 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.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration
company focused on advanced stage zinc exploration in Ireland. Additional information about the
Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: [email protected] | T: +353-85-833-2463
E: [email protected] | T: 604-644-9514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward -looking statements within the meaning of applicable securities
legislation. Such statements include, without limitation, statements regarding the futu re 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 di ffer 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 filin gs 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.