Group Eleven Commences Drilling at Carrickittle West
Group Eleven Commences Drilling at Carrickittle West
Vancouver, Canada, September 1 2, 2024 – Group Eleven Resources Corp. (TSX -V: ZNG; OTC BB:
GRLVF; FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce that it has commenced
drilling at the Carrickittle West Prospect (“Carrickittle West”), Republic of Ireland. The prospect spans
across the Company’s 76.56%-owned Stonepark Project (“Stonepark”) and the Company’s contiguous
100%-owned PG West Project (“ PG West”). The Company also provides an update on its Ballywire
discovery.
Stonepark – Targeting Another Significant Zinc Discovery at Carrickittle West
• Drill program of 4-5 holes at Carrickittle West totalling approx. 1,700m (hole depths of 350m to
550m) testing the southern margin of the Limerick Volcanic Complex (“LVC”), a prospective area
of approximately 11km in strike-length
• Targets include areas of brecciation and mineralization seen in previous drilling, the Kilteely
volcanic centre and the SW extensions of the Coonagh Castle Fault (first intersected by Group
Eleven, see news release dated 16-Jun-2022)
• Volcanic centre at Kilteely, covering 2km x 6km, is the focus of renewed attention by the Company
given its potential association with zinc mineralization – the only other interpreted volcanic centre
in the LVC is located adjacent to the Pallas Green deposit1 (only 5km north of Carrickittle West)
Ballywire – Next Drill Results Imminent on Growing Zinc-Lead-Silver Discovery
• The two-rig drill program at the Ballywire discovery at PG West is progressing well
• Ballywire drilling this year now totals 5,880m (including 3,475m reported to date and eight holes
pending assay results), with the total for the year expected to range from 7,000m to 8,000m
• Next assay results are expected to include three holes from NE step-outs (G11-3552-15, -16 and
17) and one hole from a SW step-out (testing the ‘B’ gravity anomaly; G11-2654-03)
“We are excited to start our long -awaited follow-up drill program at the Carrickittle West prospect ,”
stated Bart Jaworski, CEO. “This program aims to provide us with critical information needed to further
unlock value on this ‘Pallas Green lookalike’ target and hopefully make another discovery. At Ballywire,
we look forward to providing the market with new drill results shortly. As stated previously, work
announced to date suggests Ballywire is increasingly showing signs of a major zinc -lead-silver
discovery.”
1 Pallas Green mineral resource estimate totals 45.4 million tonnes grading 7.2% Zn and 1.2% Pb (Inferred;
Glencore Reserve and Resource Report, 2023)
2
Exhibit 1. Drill Targets at Carrickittle West Prospect (Stonepark Project and PG West Project)
Note: Pallas Green MRE is 45.4 m illion tonnes of 8.4% Zn+Pb ( 7.2% Zn + 1.2% Pb ), Inferred (Glencore, Dec-31-2023);
Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb ( 8.7% Zn and 2.6% Pb ), Inferred (Apr -17-2018); Outline of volcanic
centres (“VC”) derived from Peter Strogen (1983)
Exhibit 2. Drill Results Pending at Ballywire Discovery, PG West Project
Note: In addition to the above seven holes pending assays (locations in yellow), not shown above is G11-2654-03 testing the
‘B’ gravity anomaly (located approx. 325m SW of G11-468-01)
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Exhibit 3. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest) Projects
Notes to Exhibit 3: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves
Report dated December 31, 2023); (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 esti mate 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 Prop erty’ 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 ke y 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 estimates as current mineral res ources. ‘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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About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTCBB: GRLVF and FRA: 3GE) is a mineral exploration
company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven
announced the Ballywire discovery in September 2022. Key intercepts to date include:
• 3.3m of 12.5% Zn+Pb and 48 g/t Ag (G11-468-01)
• 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
• 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
• 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
• 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
• 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
• 6.1m of 11.4% Zn+Pb, 85 g/t Ag (G11-3552-13)
The Company’s two largest shareholders are Glencore Canada Corp. ( 17.6% interest) and Michael
Gentile (1 7.0%). 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 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, ref er 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.