Group Eleven Extends Strike at Ballywire to 2.6km and Intersects High-Grade Silver and Copper, Including 4.4m of 304 g/t Ag and 0.73% Cu
Group Eleven Extends Strike at Ballywire to 2.6km and
Intersects High-Grade Silver and Copper, Including
4.4m of 304 g/t Ag and 0.73% Cu
Vancouver, Canada, April 4, 2024 - Group Eleven Resources Corp. (TSX-V: ZNG; OTCBB: GRLVF; FRA:
3GE) (“Group Eleven” or the “ Company”) is pleased to announce results from the first 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
• Mineralization intersected in all four step-out holes testing the previously undrilled C2 and C3
gravity-high anomalies (located 530m and 930m east of the Ballywire discovery area)
• Key intersections include:
o 4.6m of 5.2% Zn+Pb (4.4% Zn and 0.9% Pb) and 15 g/t Ag (from 288.9m down hole), including
1.9m of 6.9% Zn+Pb (5.5% Zn and 1.4% Pb) and 22 g/t Ag within a 59.7m package of
intermittent mineralization (not yet fully assayed) in G11-3552-08, a 930m step-out (testing
Anomaly C3)
o 2.7m of 4.3% Zn+Pb (1.1% Zn and 3.2% Pb) and 7 g/t Ag, including 0.6m of 12.9% Zn+Pb
(1.5% Zn and 11.4% Pb) and 16 g/t Ag (from 291.5m down hole) within a 22.5m wide zone
of mineralization in G11-3552-06, approx. 100m south of the above hole; and
o 4.4m of 304 g/t Ag, 0.73% Cu and 1.0% Zn+Pb (0.9% Zn and 0.1% Pb) (starting at 331.6m
down hole), including 0.6m of 1,440 g/t Ag, 3.03% Cu and 1.6% Zn+Pb (1.5% Zn and
0.2% Pb), the highest silver value ever intersected by the Company, within a 91.9m package
of intermittent mineralization in G11-3552-07, a 530m step-out (Anomaly C2)
• The above results combined with the projection of the high -grade trend at the discovery area,
suggest that the strength of the system is increasing to the north of the C2 and C3 anomalies
• Drilling continues with two rigs, testing further north on Anomaly C3 and in between the discovery
area and Anomaly C2, respectively
“We are very pleased that robust mineralization at Ballywire has now been intersected over a strike
length of over 2.6km, up from 1.7km previously,” stated Bart Jaworski, CEO. “This extended breadth
includes 710m at the discovery area, a historic intercept 1km to the west and now step-out drilling up
to 930m to the east. The fact that gravity -high anomalies C2 and C3 are spatially associated with
mineralization bodes well for the rest of our prospective trend which is defined by gravity -high
anomalies over a strike-length of 6km. We look forward to systematically drill testing these anomalies
over the coming weeks and months. With a 2. 6km-long footprint, a 6km-long prospective trend and
some of the highest silver values ever attained in Ireland , Ballywire is increasingly showing signs of a
major zinc-lead-silver discovery.”
First 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 21 holes drilled and reported by
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Group Eleven to date, the next four step-out holes (G11-3552-05 to -08) of the 202 4 program are
reported today (see Exhibits 1 to 6). Holes G11-3552-09 to -11 are in-progress.
Exhibit 1. Plan Map of New Holes from 2024 Program vs. Gravity-High Anomalies at Ballywire
Exhibit 2. Plan Map of New Holes from 2024 Program vs. Local Geology at Ballywire
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Exhibit 3. Cross-Section A-A’ of G11-3552-05 and -07 (530m Step-Out Holes) at Ballywire
Exhibit 4. Cross-Section B-B’ of G11-3552-06 and -08 (930m Step-Out Holes) at Ballywire
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Mineralization occurs as sphalerite, galena, pyrite, chalcopyrite and suspected tennantite -
tetrahedrite, and is bedding parallel along and close to the base of the Waulsortian limestone .
Notably, significant volumes of dark grey, dolomitic breccias are present in hole G11 -3552-08 (see
Exhibit 4). Today’s drill results combined with the projection of the high-grade trend at the discovery
area (see Exhibits 1 and 2 ), suggest that the strength of the mineralizing system is increasing to the
north of the C2 and C3 gravity-high anomalies.
Exhibit 5. Summary of Assays from G11-3552-05, -06 and -08 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
G11-3552-05 312.36 313.34 0.98 0.20 0.04 0.24 -
And 322.84 323.80 0.96 0.23 0.10 0.33 -
And 325.71 326.57 0.86 0.24 0.04 0.28 -
And 329.53 330.49 0.96 0.17 0.04 0.21 -
G11-3552-06 291.54 314.00 22.46 0.63 0.45 1.08 2.1
Incl. 306.51 314.00 7.49 1.37 1.22 2.60 4.2
Incl. 310.92 314.40 3.48 0.96 2.40 3.36 5.6
Incl. 311.75 314.40 2.65 1.06 3.24 4.30 6.9
Incl. 313.40 314.00 0.60 1.54 11.40 12.94 16.3
G11-3552-08 279.00 298.40 19.40 1.18 0.35 1.53 5.5
Incl. 286.96 298.40 11.44 1.95 0.57 2.52 8.3
Incl. 288.90 293.54 4.64 4.36 0.86 5.22 15.0
Incl. 289.75 291.66 1.91 5.52 1.35 6.87 22.3
Incl. 289.75 290.75 1.00 7.69 1.34 9.03 11.6
Note: True width as a percentage of drilled intercept is approximately 90-100% for G11-3552-05, -06 and -08
Exhibit 6. Summary of Assays from G11-3552-07 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-07 330.30 343.55 13.25 0.38 0.04 0.43 105.0 0.26
Incl. 331.57 332.09 0.52 1.27 0.17 1.43 12.4 0.03
And 332.09 332.43 0.34 1.14 0.05 1.19 14.6 0.04
And 332.43 333.10 0.67 1.07 0.10 1.16 469.0 1.56
And 333.10 333.45 0.35 0.64 0.04 0.69 30.7 0.05
And 333.45 333.70 0.25 0.74 0.02 0.76 485.0 0.94
And 333.70 334.07 0.37 1.20 0.01 1.21 20.9 0.12
And 334.07 334.82 0.75 0.08 0.01 0.08 5.8 0.01
And 334.82 334.99 0.17 0.73 0.29 1.02 220.0 0.48
And 334.99 335.54 0.55 1.47 0.17 1.64 1440.0 3.03
And 335.54 335.97 0.43 0.51 0.08 0.60 90.8 0.17
331.57 335.97 4.40 0.87 0.09 0.96 304.1 0.73
Incl. 332.43 335.54 3.11 0.82 0.08 0.90 414.1 0.99
Incl. 334.82 335.97 1.15 1.00 0.16 1.16 755.2 1.58
And 386.08 389.04 2.96 0.03 0.01 0.04 28.3 0.95
Incl. 386.08 386.47 0.39 0.18 0.00 0.18 104.0 5.90
And 395.62 395.82 0.20 0.01 0.03 0.04 68.1 0.51
Note: True width of the overall mineralized package above is estimated at approx. 90 -100%, however, at the centimetre -
scale, mineralization is predominately hosted within two orthogonal sets of steeply dipping veins (dipping to NE and NW,
respectively)
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Exhibit 7. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend
Exhibit 8. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest) Projects
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Notes to Exhibit 8: (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 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.
Stonepark - Planning Underway
Planning is underway for a drilling program at the Company’s 76.56% -owned Stonepark Project later
in 2024. This will include follow-up on drilling at the Carrickittle West target in 2022, which resulted in
the first intersection by Group Eleven of a major fault in the Limerick basin. The Company expects to
drill a series of widely spaced holes to examine mineralization, brecciation and Waulsortian thickness
variations in the area to improve understanding of the best area of potential for a major discovery.
This incremental follow -up on the target reduces the risk associated with a single, deep hole and
follows the exploration model that successfully resulted in the Ballywire discovery in 2022. In addition,
other prospective targets across the Stonepark Project will be drill tested during the course of the
program. Further details on the program will be provided in due course.
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. 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)
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10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06); (iv) 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu
(G11-468-12) and (v) 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11 -3552-03). The Company’s two largest
shareholders are Glencore Canada Corp. ( 18.2% interest) and Michael Gentile (1 5.0%). 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.