Group Eleven Drills 11.2m of 8.9% Zn+Pb and 83 g/t Ag and Extends Strike Length of High-Grade Mineralization by 160m from 550m to 710m at Ballywire Zinc-Lead-Silver Discovery
Group Eleven Drills 11.2m of 8.9% Zn+Pb and 83 g/t Ag and Extends
Strike Length of High-Grade Mineralization by 160m from 550m to
710m at Ballywire Zinc-Lead-Silver Discovery
Vancouver, Canada, November 21, 2023 - Group Eleven Resources Corp. (TSX-V: ZNG; OTCBB: GRLVF;
FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce drill results from five (5) step-
out holes at its 100%-owned Ballywire zinc-lead-silver discovery (“Ballywire”), PG West Project (“ PG
West”), Republic of Ireland. One more step-out hole (plus two nearby regional holes) and germanium
assays remain pending from the Ballywire area, with results expected over the coming weeks.
Highlights
• G11-3552-03 (160m easterly step-out) returned 11.2m of 8.9% Zn+Pb (5.6% Zn and 3.3% Pb) and
83 g/t Ag , including 4.7m of 9.7% Zn+Pb (3.7% Zn and 6.0% Pb) and 79 g/t Ag (true width
estimated to be 90-100% of drilled interval)
• G11-468-13 (50m northerly step-out) returned 9.7m of 7.5% Zn+Pb (4.3% Zn and 3.2% Pb) and 43
g/t Ag, in a wider interval totalling 30.4m of 4.3% Zn+Pb (3.0% Zn and 1.4% Pb) and 25 g/t Ag ,
including 5.6m of 9.8% Zn+Pb (4.8% Zn and 5.1% Pb) and 60 g/t Ag (true width of 90-100%)
• G11-468-15 (80m easterly step-out) returned 4.9m of 11.8% Zn+Pb (2.6% Zn and 9.2% Pb) and 84
g/t Ag (true width of 90-100%)
• G11-468-14 (80m easterly step-out, 50m south of G11 -468-15) returned 10.2m of 4.4% Zn+Pb
(0.7% Zn and 3.7% Pb) and 19 g/t Ag, including 3.0m of 8.0% Zn+Pb (0.8% Zn and 7.2% Pb) and 38
g/t Ag (true width of 70-90%)
• Mineralization above consists of sphalerite and galena, occurring bedding -parallel at or near the
base of the Waulsortian Limestone which dips gently to the south-southeast
“This is a very strong set of assay results from holes drilled significant distances from previously
known mineralization ,” stated Bart Jaworski, CEO. “ The strike -length of k nown high -grade
mineralization has increased by 29% or 160m to the east from 550m to 710m . Including a massive
sulphide intercept from 1997, we now have 1.7 kilometres of strike -length over which robust
mineralization has been intercepted. We are especially excited by the fact that we have yet to test
two large gravity -high anomalies on either side of the discovery area , over a distance of 2.9
kilometres. And we have a further two gravity -high anomalies, also untested, giving us a total
prospective trend of about 6 kilometres.”
New Drilling at Ballywire
The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, is a new
zinc-lead-silver discovery (initially announced in September 2022). In addition to 15 holes drilled and
reported by Group Eleven to date, f ive (5) step -out holes are reported today. These holes step out
from previously known mineralization by 50m to the north, 80m to the east and 160m to the east (see
Exhibit 1, 2, 3 and 5).
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Exhibit 1. Plan View of New Step-Out Drill Holes at Ballywire Discovery, Ireland
Exhibit 2. Long-Section of New Step-Out Drill Holes at Ballywire Discovery
Relative to recently announced gravity-high anomalies (see news release dated October 17, 2023), the
above drill holes are located on the eastern margins of the ‘C1’ anomaly (see Exhibit 3). Anomalies ‘B’,
‘C2’ and ‘C3’ remain to be drilled.
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Exhibit 3. Plan Map of New Drilling vs. Recently Announced Gravity-High Anomalies at Ballywire
Exhibit 4. Summary of Assays from New Step-Out Drill Holes at Ballywire Discovery, Ireland
Hole ID From
(m)
To (m) Interval
(m)
Zn % Pb
%
Zn+Pb % Ag g/t Cu %
G11-468-13 253.73 284.15 30.42 2.96 1.36 4.32 25.2 -
Incl. 264.45 281.60 17.15 4.05 2.05 6.10 33.8 -
Incl. 264.45 274.14 9.69 4.27 3.24 7.51 42.7 -
Incl. 268.53 274.14 5.61 4.77 5.06 9.83 60.4 -
Incl. 272.05 274.14 2.09 7.59 9.80 17.40 122.4 0.11
Incl. 273.87 274.14 0.27 6.29 16.90 23.19 326.0 0.52
And 275.03 281.60 6.57 4.21 0.52 4.74 23.8 -
Incl. 280.00 281.60 1.60 9.47 0.71 10.18 39.4 -
G11-468-14 267.81 320.25 52.44 0.56 0.98 1.54 15.4 -
Incl. 272.20 282.36 10.16 0.67 3.68 4.35 19.2 -
Incl. 273.00 278.85 5.85 0.62 4.33 4.94 23.2 -
Incl. 272.20 275.23 3.03 0.81 7.16 7.97 38.3 -
G11-468-15 190.70 275.75 85.05 0.65 0.78 1.42 8.1 -
Incl. 269.84 274.69 4.85 2.57 9.24 11.82 84.5 0.13
Incl. 272.38 274.69 2.31 3.87 12.45 16.32 128.1 0.17
Incl. 272.38 272.57 0.19 11.35 10.85 22.20 199.0 0.34
And 273.26 273.80 0.54 8.16 23.30 31.46 170.0 0.14
G11-3552-02 374.40 380.90 6.50 0.48 0.04 0.52 1.1 -
G11-3552-03 218.76 219.20 0.44 13.65 8.49 22.14 93.9 -
And 245.89 303.90 58.01 2.11 0.98 3.09 24.8 -
Incl. 259.09 291.80 32.71 2.83 1.60 4.42 36.8 -
Incl. 280.56 291.80 11.24 5.58 3.32 8.90 82.9 -
Incl. 284.20 291.80 7.60 4.56 4.04 8.60 103.8 0.12
Incl. 284.20 288.91 4.71 3.70 6.04 9.74 78.5 -
Incl. 280.56 281.29 0.73 31.40 7.25 38.65 160.0 -
And 291.62 291.80 0.18 24.00 3.12 27.12 397.0 0.52
Note: True width as a percentage of drilled intercept is 90-100% for G11-468-13, G11-468-15, G11-3552-02 and G11-3552-
03, and 70-90% for G11-468-14; Percent Cu shown for values greater than 0.10%
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Exhibit 5. Cross-Section Showing G11-468-13 and G11-3552-02 at Ballywire Discovery
G11-468-13 (azimuth 330°, dip -65°) is a 50m step-out hole located up-dip and to the north of G11-
468-12 (see Exhibit 5). Strong results from both holes (see Exhibit 4) suggests robust mineralization is
likely to continue further north along this section. Weak results from G11-3552-02 (azimuth 330°, dip
-65°) located 105m downdip and south of G11-468-12, suggests that the mineralizing system is waning
to the south at this locality or that this hole intercepted an isolated dead spot, not uncommon in Irish-
Type zinc deposits in Ireland.
G11-468-14 (azimuth 335°, dip -80°) is an 80m step-out ENE from G11-468-12 (see Exhibit 1 and 6).
Strong mineralization was returned within the Waulsortian limestone, with mineralized veins also
intersected below this unit. G11-468-15 (azimuth 335°, dip -70°) is a 50m step-out north of G11-468-
14, yielding strong mineralization in the hangingwall of an interpreted fault.
G11-3552-03 (azimuth 330°, dip -75°) is a 160m step-out ENE from G11-468-12 (see Exhibit 1 and 7),
yielding the best mineralization of the suite of results in today’s release. The Company has completed
a drill hole stepping out 75m to the north of G11 -3552-03 with assay s expected over the coming
weeks.
The above holes expand the strike-length of known high-grade mineralization by 160m or 29%, from
550m to 710m. Including a massive sulphide intercept from 1997, robust mineralization has been
intercepted over 1.7km (see Exhibit 3). Two large gravity-high anomalies yet to be drill tested on either
side of the discovery area are highly prospective and total a distance of 2.9km. A further two gravity-
high anomalies, also untested, underpin an overall prospective trend of approx. 6km (see news release
dated April 25, 2023).
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Exhibit 6. Cross-Section Showing G11-468-14 and G11-468-15 at Ballywire Discovery
Background Information on Ballywire Discovery
Ballywire is located in the SE portion of the Company’s 100% -owned PG West Project, Republic of
Ireland (see Exhibit 8). PG West, including the nearby Tullacondra prospect, covers an area of 650km2
(251 square miles) and is contiguous with the Company’s Stonepark project (covering 184km2; 76.56%
interest). Ballywire is located approximately 20km SE of Glencore’s Pallas Green deposit 1 and
approximately 50km SW of the historic Lisheen zinc mine (closed in 2015).
Geologically, Ballywire is situated at the intersection of the SW projection of the Rathdowney Trend,
hosting the past-producing Lisheen and Galmoy zinc mines, and the Pallas Green Corridor, which hosts
the undeveloped Pallas Green deposit1. Historic drilling at the Ballywire prospect was sparse, last being
worked by operators in 2008. Group Eleven staked the prospect in 2016 and announced the discovery
in September 2022.
1 Pallas Green Mineral Resource Estimate (MRE): 45 mln tonnes of 7.2% Zn and 1.2% Pb, Inferred (Glencore,
31-Dec-2022)
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Exhibit 7. Cross-Section Showing G11-3552-03 and G11-3552-04 at Ballywire Discovery
Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves
Report dated December 31, 2022); (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, par ameters 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 resources. ‘Rathdowne y Trend’ is the south -
westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
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Exhibit 8. Regional Map Showing Location of Ballywire Discovery, PG West Project (100% Interest)
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.
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. T he 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.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; Pink: 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. K ey intercepts to date include: (i) 3.3m of
12.5% Zn+Pb and 48 g/t Ag (G11-468-01), (ii) 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03); (iii)
10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06); and (iv) 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31%
Cu (G11-468-12). The Company’s two largest shareholders are Glencore Canada Corp. (20.8% interest)
and Michael Gentile (16.5%). Additional information about the Company is available at
www.groupelevenresources.com.
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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.