Group Eleven Extends Zone of Semi-Massive Sulphide by 115m, Provides Drilling Update and Identifies Gravity Anomalies over 6km Strike at Ballywire Zinc-Lead-Silver Discovery, Ireland
Group Eleven Extends Zone of Semi-Massive Sulphide by 115m,
Provides Drilling Update and Identifies Gravity Anomalies over 6km
Strike at Ballywire Zinc-Lead-Silver Discovery, Ireland
Vancouver, Canada, April 25, 2023 - Group Eleven Resources Corp. (TSX -V: ZNG; OTC: GRLVF; FRA:
3GE) (“Group Eleven” or the “ Company”) is pleased to announce that it intersected semi-massive
sulphides in a thick zone of mineralization located 115m down-dip of the discovery hole at its Ballywire
Zn-Pb-Ag discovery (“Ballywire”), PG West Project (“PG West”, 100%-interest), Ireland. The Company
also provides a drill update and announces the identification of gravity anomalies at Ballywire.
Drill Update at Ballywire:
• Three of four holes ha ve now been drilled as part of the Company’s follow -up drill program at
Ballywire (see news release dated March 2, 2023) ; the fourth hole of this program is currently
underway, to be completed over the next few weeks
• Assays have been received for the first hole (G11-468-07); remainder expected in due course
• G11-468-07, a 115m step-out to the south of discovery hole G11-468-03, intersected:
o 44.06m of 1.0% Zn+Pb (0.64% Zn and 0.33% Pb) and 7 g/t Ag, including
o 2.58m of 3.2% Zn+Pb (2.4% Zn and 0.8% Pb) and 15 g/t Ag and
o 0.48m of 8.0% Zn+Pb (5.0% Zn and 3.0% Pb) and 25 g/t Ag and
o 2.49m of 4.6% Zn+Pb (2.5% Zn and 2.1% Pb) and 21 g/t Ag, including
o 0.44m of 13.1% Zn+Pb (10.2% Zn and 2.9% Pb) and 37 g/t Ag (semi-massive sulphide) and
o 1.87m of 73 g/t Ag, 0.24% Cu and 0.70% Zn+Pb (0.4% Zn and 0.3% Pb)
• True widths are estimated to be 60-80% of intersected widths; downhole depth of mineralization
ranges from 303.07m to 347.13m, at or near the base of the Waulsortian Limestone (“WL”)
• The a bove cited mineralization doubles the down-dip extent of massive to semi -massive
sulphides at the immediate Ballywire discovery area from approx. 110m to 225m
• As well, G11-468-10 pierced a fault zone interpreted as a probable key control on mineralization
• For reference, key intercepts to date at Ballywire include: (i) 3.3m of 12.5% Zn+Pb and 48 g/t Ag
(G11-468-01, announced 07-Sep-2021), (ii) 10.8m of 10.0% Zn+P b and 109 g/t Ag (G11 -468-03,
06-Sep-2022); and (iii) 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06, 02-Mar-2023)
Gravity Anomalies Extend Search Area at Ballywire:
• Re-processing of data from a historic gravity survey identified four gravity-high anomalies in the
WL and on the hanging wall of the above interpreted fault, occurring over 6km by 2km
• The anomalies indicate zones of denser rock at moderate depths, potentially suggesting the
presence of dolomitic limestones, surface effects (less overburden) and/or mineralization
• Discovery area at Ballywire is situated in between the two central anomalies with no drilling yet
directly testing the anomalies themselves; drill testing these anomalies is a high priority
“It’s great to see steady progress being made at Ballywire ,” stated Bart Jaworski, CEO. “With the
footprint of known mineralization quickly growing and now coupled with gravity data indicating a n
area of high-priority targets over 6km by 2km, we believe that the best is yet to come and that
Ballywire has both the room and increasing potential to host a significant Irish Type zinc system –
similar to the historic Lisheen mine located 50km away, along the Rathdowney Trend.”
2
Follow-Up Drill Program at Ballywire Discovery, PG West Project (100%-interest), Ireland
Three of four planned holes have now been drilled (see blue drill hole traces in Exhibits 1 and 2) as
part of the Company’s follow-up drill program at Ballywire (see news release dated March 2, 2023). In
addition to the three holes ( G11-468-07, -08 and -10; totalling 1,188m), one hole (G11-468-09) was
abandoned after 171m due to excessive deviation from target. The f ourth hole (G11-468-11; see
Exhibit 4) of this program is currently underway, to be completed over the next few weeks . Assays
have been received for the first hole (G11-468-07), with the remaining assays to be announced when
received from the laboratory.
Exhibit 1. Plan Map of New Drilling at Ballywire Discovery, PG West Project (100% interest), Ireland
Note: all historic holes drilled in the Ballywire discovery area are shown above
G11-468-07, a 115m down-dip step-out to the south from discovery hole G11-468-03 (see Exhibit 2
and 4), intersected 44.06m of 1.0% Zn+Pb (0.64% Zn and 0.33% Pb) and 7 g/t Ag, including 2.58m of
3.2% Zn+Pb (2.4% Zn and 0.8% Pb) and 15 g/t Ag ; and 0.48m of 8.0% Zn+Pb (5.0% Zn and 3.0% Pb)
and 25 g/t Ag ; and 2.49m of 4.6% Zn+Pb (2.5% Zn and 2.1% Pb) and 21 g/t Ag , including 0.44m of
13.1% Zn+Pb (10.2% Zn and 2.9% Pb) and 37 g/t Ag. A copper-silver zone was also encountered: 1.87m
of 73 g/t Ag , 0.24% Cu and 0.70% Zn+Pb (0.4% Zn and 0.3% Pb ; see Exhibit 3). T rue widths are
estimated to be 60 -80% of intersected widths . D ownhole depth of mineralization ranges from
303.07m to 347.13m, located at or near the base of the Waulsortian limestone (see Exhibit 3).
Semi-massive sulphide mineralization (sphalerite, galena and pyrite) hosts the highest -grading
interval above (0.44m of 13.1% Zn+Pb and 37 g/t Ag), which occurs at a downhole depth of 342.36m,
approximately 14m below the base of the Waulsortian Limestone. The second highest-grading interval
(0.48m of 8.0% Zn+Pb and 25 g/t Ag) is breccia-hosted and located 327.12m, less than a metre above
the base of the Waulsortian Limestone. Overall, G11-468-07 increases the down-dip extent of known
semi-massive to massive sulphides by 115m to the SE from approx. 110m to 225m (see Exhibit 4).
3
Exhibit 2. Detailed Plan Map of New Drilling at Ballywire Discovery, PG West Project, Ireland
Note: Assay results for G11 -468-08 and -10 are pending and the Company’s policy precludes commenting on visual
observations ahead of assay results. Boundaries of high -grade mineralization shown above are carried over from the last
news release and do not infer any information pertaining to G11-468-08 and -10.
Exhibit 3. Summary of Assays from G11-468-07 at Ballywire Prospect, PG West Project, Ireland
Item From To Int Zn Pb Zn+Pb Ag Cu
m m m % % % g/t %
303.07 347.13 44.06 0.64 0.33 0.96 7.28 0.01
Incl. 303.07 329.93 26.86 0.75 0.25 0.99 4.19 0.00
Incl. 313.18 315.76 2.58 2.36 0.83 3.19 14.90 0.01
Incl. 314.04 314.90 0.86 3.27 1.16 4.43 20.94 0.01
And 326.33 327.60 1.27 2.20 1.22 3.42 11.79 0.01
Incl. 327.12 327.60 0.48 4.95 3.03 7.98 25.1 0.00
And 334.47 347.13 12.66 0.62 0.61 1.23 16.26 0.04
Incl. 340.83 343.32 2.49 2.47 2.12 4.59 20.74 0.01
Incl. 342.36 343.32 0.96 6.14 2.98 9.11 37.67 0.02
Incl. 342.36 342.80 0.44 10.15 2.91 13.06 36.80 0.02
And 344.43 346.30 1.87 0.38 0.32 0.70 72.82 0.24
Note: True widths are 60-80% of intersected width
In addition to G11-468-07, the latest drilling has identified a significant fault structure which may be
a key control on mineralization in the area (see G11-468-10 in Exhibit 4). The fault juxtaposes
Waulsortian Limestone (“WL”) which is over 300m thick on the hanging wall side, against WL which is
only 250m thick on the footwall side. It is believed the fault movement was lateral and/or oblique.
4
Exhibit 4. Cross-Section of New Drilling at Ballywire Discovery, PG West Project, Ireland
Note: True width for G11-468-07 are estimated to be 60-80% of intersected widths; Assay results for G11-468-10 are pending
and the Company’s policy precludes commenting on visual observations ahead of assay results; G11-468-09 was abandoned
due to excessive deviation from target; G11-468-11 is in progress.
Gravity-High Anomalies Extend Search Area at Ballywire
The Company recently re-processed historic (2008) data from a ground gravity survey conducted at
Ballywire by a previous operator. The re-processing confirmed and discerned four pronounced gravity-
high anomalies over an area measuring approximately 6km by 2km , located to the immediate east
and west of the main discovery area at Ballywire (see ‘A’ through ‘D’ in Exhibit 5).
The anomalies are coincident with, and appear to occur with in, the Waulsortian Limestone (see
Exhibit 5) and are thought to indicate zones of denser rock at moderate depths (approx. 30-300m).
This may suggest the presence of dolomitic limestones, surface effects (e.g. less overburden) and/or
zones of mineralization . Note, the presence of v olcanic lithologies at these gravity anomalies is
unlikely given the absence of coincident magnetic-high anomalies. The gravity anomalies also appear
to be well situated in the prospective hanging wall of a regional fault. This fault, interpreted to occur
for at least 6km, was pierced by hole G11-468-10 (noted above and see Exhibit 4 and 5). Additionally,
historic hole 9 9-3352-5, drilled 3km NE of discovery hole G11 -468-03, intersected anomalous
mineralization (14.0m of 0.9% Zn+Pb) which suggests gravity anomalies ‘C’ and ‘D’ may be especially
prospective.
The discovery area at Ballywire is situated in between gravity anomalies ‘B’ and ‘C’, with no drilling
having yet directly tested any of the anomalies themselves. Note, gravity anomaly ‘B’ is deemed to be
only tangentially tested given (i) the anomaly’s boundary is poorly cons trained due to sparse data
points at this locality and (ii) the hole drilled at this locality return ed no information explaining the
5
anomaly (other than weak mineralization). Overall, the gravity data at Ballywire has significantly
helped define high-priority drill targets over a large and prospective search area.
For reference and scale, the 6km x 2km search area is more than ample to fit the footprint of a typical
Irish Type zinc deposit, such as direct analogue Lisheen (see Exhibit 5), located 50km NE from Ballywire
along the Rathdowney Trend (see Exhibit 6).
Exhibit 5. Gravity Anomalies (‘A’ to ‘D’) Identified at the Ballywire Discovery, PG West, Ireland
Note: True widths of intersected width for G11 -468-06 are 75-90%, for G11-468-03 are 80-100% and for 99-3552-5 are
unknown; Waulsortian Limestone dips SE; holes which did not reach the target horizon were omitted from the above map.
Regional Setting of the Ballywire Zinc Discovery, PG West Project (100%-interest), Ireland
The Ballywire zinc discovery 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 6). Historic drilling at the Ballywire prospect was sparse, last being worked
by operators in 2008. Group Eleven staked the prospect in 2016 based on compelling results from the
two most-recent historic holes.
Notes to Exhibit 6: (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 Gortd rum Cu -Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at
6
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 n o 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.
Exhibit 6. Location of Ballywire Zinc Discovery, PG West (100% interest) Project, Ireland
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. The 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.
7
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 future re sults 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 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 ma y 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.