Group Eleven Drills Best Hole Yet at Ballywire Discovery: 29.6m of 10.6% Zn+Pb and 78 g/t Ag
Group Eleven Drills Best Hole Yet at Ballywire Discovery:
29.6m of 10.6% Zn+Pb and 78 g/t Ag
Vancouver, Canada, June 11, 2024 - Group Eleven Resources Corp. (TSX-V: ZNG; OTCBB: GRLVF; FRA:
3GE) (“Group Eleven” or the “ Company”) is pleased to announce results from the most recent four
holes of the 202 4 drill program at the Company’s 100% -owned Ballywire zinc -lead-silver discovery
(“Ballywire”), PG West Project (“PG West”), Republic of Ireland.
Highlights
• Best intersection to date at Ballywire: 29.6m of 10.6% Zn+Pb (4.0% Zn and 6.6% Pb), 78 g/t Ag
and 0.15% Cu (from 283.4m down hole), in G11-3552-12, a 180m step-out from the discovery
area, including:
o 12.9m of 16.6% Zn+Pb (5.8% Zn and 10.8% Pb), 123 g/t Ag and 0.19% Cu, including
o 5.2m of 24.1% Zn+Pb (2.8% Zn and 21.3% Pb), 76 g/t Ag and 0.10% Cu and
o 6.8m of 12.6% Zn+Pb (8.5% Zn and 4.1% Pb), 172 g/t Ag and 0.29% Cu
o Mineralization consists predominantly of massive and semi -massive sulphide, as well as
disseminated and vein hosted sulphide mineralization
• G11-3552-12 was drilled approximately 50m up-dip of hole G11-3552-09 which returned a 21.8m
zone of mineralization , including 2.8m of 4.1% Zn+Pb (3.4% Zn and 0.8% Pb) and 5 g/t Ag ,
suggesting mineralization was strengthening up-dip and to the north
• Mineralization intersected in all four step-out holes
• Drilling continues with two rigs, testing 50m up-dip and to the north of G11 -3552-12 and testing
gravity a nomaly B, respectively; with further holes planned for follow -up drilling at gravity
anomaly C2
“With an intercept of over 29 metres of high-grade mineralization, G11-3552-12 is by far our best hole
to date at Ballywire,” stated Bart Jaworski, CEO. “We are excited that high-grade mineralization over
a strike of 710m at the discovery area has now been extended by 180m, or 25%, to a new total of
890m. We are also pleased to see record widths of high -grade mineralization in this hole potentially
indicating that we may be vectoring in towards a higher grade and more robust part of the system. To
date, we have intersected robust mineralization at Ballywire over a strike length of 2.6km, from an
historic high-grade intercept 1km west of the discovery area, through the 890m strike of the discovery
area to the large step-out holes announced in April 2024. Our prospective trend, informed by gravity-
high anomalies along the Waulsortian Limestone has a strike-length of over 6km. We look forward to
continuing to systematically drill testing these anomalies. With a 2. 6km-long footprint, a 6km-long
prospective trend and increasingly robust intervals of massive sulphide, Ballywire is increasingly
showing signs of a major zinc-lead-silver discovery.”
Most Recent Four Holes from 2024 Drill Campaign at Ballywire Discovery
The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, is a new
zinc-lead-silver discovery (first announced Sept-2022). In addition to 25 holes drilled and reported by
Group Eleven to date, the most recent four step-out holes (G11-3552-09, to -12) of the 2024 program
are reported today (see Exhibits 1 to 6).
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Exhibit 1. New Drilling, Previous Key Intercepts and Gravity Anomalies at Ballywire Discovery Area
Note: Step-out distance of G11-3552-12 from G11-3552-03 is approx. 180m
Exhibit 2. New Drilling at Ballywire Discovery and Surrounding Area (2.6km Strike Length)
Note: Step-out distance of G11-3552-12 (and G11-3552-09) from G11 -3552-03 is approx. 180m; step -out distance of G11 -
3552-11 (and G11-3552-10) from G11-3552-08 is approx. 100m (and 50m), respectively ; G11-2654-03 is in progress testing
gravity anomaly ‘B’; G11-468-16 is in progress testing the continuation of mineralization SW from G11-468-01
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Exhibit 3. Summary of Assays from G11-3552-12 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-12 283.44 293.02 9.58 3.27 1.98 5.26 16.26 0.01
“ 293.02 293.44 0.42 1.80 2.96 4.76 13.4 0.02
“ 293.44 293.80 0.36 5.94 17.70 23.64 68.8 0.08
“ 293.80 294.12 0.32 1.29 8.89 10.18 37.3 0.03
“ 294.12 294.78 0.66 3.18 38.30 41.48 127.0 0.21
“ 294.78 295.66 0.88 1.96 19.80 21.76 70.6 0.10
“ 295.66 296.34 0.68 3.68 17.45 21.13 77.4 0.11
“ 296.34 297.25 0.91 2.55 18.90 21.45 66.3 0.07
“ 297.25 298.21 0.96 2.50 29.70 32.20 96.2 0.08
“ 298.21 298.55 0.34 13.05 3.17 16.22 63.4 0.14
“ 298.55 299.08 0.53 1.98 0.80 2.78 10.8 0.03
“ 299.08 299.34 0.26 14.25 10.85 25.10 70.1 0.13
“ 299.34 299.63 0.29 2.30 0.77 3.07 8.0 0.03
“ 299.63 300.07 0.44 21.80 4.65 26.45 88.3 0.27
“ 300.07 301.12 1.05 0.57 0.22 0.79 8.2 0.02
“ 301.12 302.24 1.12 3.45 2.19 5.64 84.4 0.08
“ 302.24 303.10 0.86 10.20 11.15 21.35 353.0 0.36
“ 303.10 303.93 0.83 17.10 7.15 24.25 319.0 0.75
“ 303.93 305.03 1.10 9.92 2.96 12.88 374.0 0.65
“ 305.03 305.88 0.85 2.54 0.43 2.97 17.6 0.03
“ 305.88 313.00 7.12 1.63 5.23 6.86 82.22 0.26
Wt. Avg. 283.44 313.00 29.56 3.97 6.61 10.58 78.46 0.15
Incl. 293.02 305.88 12.86 5.78 10.82 16.60 122.7 0.19
Incl. 293.02 298.21 5.19 2.76 21.34 24.10 75.8 0.10
And 298.21 305.03 6.82 8.47 4.11 12.59 171.5 0.29
Incl. 302.24 305.03 2.79 12.14 6.73 18.87 351.2 0.59
Note: True width of the overall mineralized package above is estimated at approx. 90-100%
High-grade mineralization in G11 -3552-12 consists predominantly of massive and semi -massive
sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as,
disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the
base of the Waulsortian limestone (see Exhibit 4).
Today’s drill results extend known high-grade massive sulphide mineralization by 180m or 25%, from
a strike length 710m to 890m (see Exhibits 1 and 2 ). G11 -3552-12 represents the strongest
mineralization to date at Ballywire, adding to an already strong set of previous intercepts (e.g. 11.2m
of 8.9% Zn+Pb and 83 g/t Ag in G11 -3552-03; and 10.8m of 10.0% Zn+Pb and 109 g/t Ag in G11 -468-
03, etc, (see Exhibit 1).
The extensive envelope of massive and semi-massive sulphide mineralization in G11-3552-12 justifies
further drilling eastwards, especially towards hole G11-3552-07 (360m away) which intersected very
high grades of silver and copper (see Group Eleven’s news release dated 04 -Apr-2024) suggesting
proximity to a feeder structure.
Elevated germanium levels are correlated with high zinc concentrations in previous holes at Ballywire.
Germanium will be assayed in G11-3552-12 in due course.
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Exhibit 4. Cross-Section A-A’ of G11-3552-09 and -12 (180m Step-Out Holes) at Ballywire
Note: G11-3552-13 is in progress and is testing the continuation of mineralization 50m up dip of G11-3552-12
G11-3552-10 and -11, located 50m and 100m north of G11 -3552-08, respectively, returned weak
mineralization (see Exhibit 5) along or near the base of the Waulsortian Limestone.
Exhibit 5. Summary of Assays from G11-3552-09, -10 and -11 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
G11-3552-09 282.20 304.00 21.80 1.53 0.47 2.00 4.3
Incl. 299.45 304.00 4.55 2.72 0.60 3.31 4.3
Incl. 299.45 302.23 2.78 3.35 0.79 4.14 5.0
G11-3552-10 219.76 231.24 11.48 0.92 0.21 1.12 6.7
Incl. 219.76 223.09 3.33 1.73 0.47 2.20 17.0
Incl. 220.80 222.16 1.36 3.99 1.05 5.04 38.8
Incl. 220.80 221.20 0.40 5.27 2.98 8.25 97.5
G11-3552-11 226.68 230.29 3.61 0.72 0.12 0.85 4.3
Note: True width as a percentage of drilled intercept is approximately 90-100% for G11-3552-09, -10 and -11
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Exhibit 6. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend
Exhibit 7. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest) Projects
Notes to Exhibit 7: (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
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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 ‘Re port 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 estimates 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.
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; 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) and
• 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12)
The Company’s two largest shareholders are Glencore Canada Corp. ( 18.1% interest) and Michael
Gentile (1 5.0%). 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.