Group Eleven Identifies Anomalous Palladium, Nickel and Cobalt at Ballinalack Zinc Project, Ireland
Group Eleven Identifies Anomalous Palladium,
Nickel and Cobalt at Ballinalack Zinc Project,
Ireland
VANCOUVER
,
Jan. 14, 2020
/CNW/ - Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF;
FRA: 3GE) ("
Group Eleven
" or the "
Company
") is pleased to announce that recent drilling at its
60%-interest Ballinalack Zinc Project ("Ballinalack") in the
Republic of Ireland
, has intersected a
sulphide-bearing mafic dyke with anomalous
platinum-group metals
("PGMs", including platinum,
palladium, rhodium) and gold, along with highly anomalous copper, nickel and cobalt. The dyke
appears to laterally extend over
several kilometres
. Previous operators at Ballinalack did not assay
for PGMs and to management's knowledge, PGM exploration in the
Republic of Ireland
has never
been conducted. Group Eleven views the above results as a potential 'sweetener' to Ballinalack,
which remains primarily a zinc-focussed project. Zinc-lead results from the recently completed
Ballinalack drill program are expected over the next few weeks.
Highlights:
G11-1344-03 intersected 1.95 meters of
0.403 g/t 4E
(platinum, palladium, rhodium and gold)
and 0.24% copper, including 0.95 metres of
0.561 g/t 4E
, 0.33% copper and 0.11% nickel;
From the above, a grab-sample isolating sulphide-rich core (over 14 cm) returned
0.872 g/t 4E
,
0.56% copper
and 0.25% nickel;
Another grab-sample of sulphide-rich core (over 5 cm) returned
1.08% nickel
, 0.32% copper,
1105 ppm cobalt
and 0.139 g/t 4E;
G11-1344-04 intersected 0.60 metres of 0.33% nickel, 0.23% copper, 474 ppm cobalt and
0.214 g/t 4E;
Re-sampling historic hole TC-1344-039 returned 2.30 metres of 0.216 g/t 4E, 0.19% copper,
0.18% nickel, 203 ppm cobalt, including 0.30 metres of
0.528 g/t 4E, 0.43% nickel, 0.37%
copper
and
494 ppm cobalt
;
Above three holes pierce the dyke over a strike-length of over 400 metres near the Ballinalack
zinc deposit
1
; dyke appears to extend over at least
3 km by 7 km
, based on drilling and seismic
data;
Group Eleven suspects the above intercepts may represent
'rip-up' clasts
from a larger
sulphide body, which may be a key exploration target in the future;
"The above results were unexpected and a bit out of left field, given our exploration efforts were fully
geared towards zinc," stated
Bart Jaworski
, CEO. "Despite being a surprise, these anomalous PGM
results certainly add to the Ballinalack story. We intend to do more work on PGMs in the future as
we remain focussed on exploring for zinc and expanding the existing
Ballinalack zinc deposit
1
."
________________________
1
Ballinalack Mineral Resource Estimate (MRE) totals 5.4 million tonnes of 7.6% zinc and 1.1% lead (see news release dated November 28, 2018)
Details on Mafic Dyke
Group Eleven drilled two diamond drill holes (G11-1344-03 and G11-1344-04) beneath the existing
Ballinalack zinc-lead deposit. In addition to testing the Pale Beds for zinc mineralization (to be
reported in the next few weeks), the holes intersected a mafic dyke with down-hole thicknesses
(true widths unknown) of 29 metres and 56 metres, respectively. The latter intercept represents the
thickest known dyke intercept on the property. Sulphide mineralization was observed at the base of
the dyke, which in turn led Group Eleven staff to analyse for PGMs a nearby historic hole (TC-1344-
039, drilled by Teck Resources Ltd. in 2010) which also exhibited similar material. Key information is
summarized below:
Assay results from new Group Eleven drilling and new PGM assays from historic hole (TC-
1344-039) are summarized in
Exhibit 1
;
The dyke appears to be laterally extensive over several kilometres; the thickest portions
(greater than 10-metre down-hole thickness) of the mafic dyke appear to occur over an area of
over 3.0 km by 7.0 km, based on recent and historic drilling, as well as, seismic data (see
Exhibit 2
);
The above three holes pierce the dyke over a strike-length of over 400 metres (see
Exhibit 3
);
The dyke has been intersected at shallow depths on the eastern part of the property and at
deeper levels towards the west (see
Exhibit 4
); depths of the mafic dyke within the above
three holes is approximately 650-700 metres below surface;
Group Eleven has not yet been able to analyse historic drill logs and drill core to determine if,
and to what extent, previously intersected mafic dyke material contained sulphides (historic
drilling was focussed solely on zinc exploration and descriptions of the mafic dyke may have
been very cursory in nature);
Based on the textures of the sulphides, Group Eleven suspects the above intercepts may
represent 'rip-up' clasts from a larger sulphide body, which may be a key exploration target in
the future;
Exhibit 1. Highlights of New Assays from Mafic Dyke near the Ballinalack Zinc-Lead Deposit,
Ireland
Hole ID
From
To
Interval
4E
Pd
Pt
Rh
Au
Ni
Cu
Co
Pt-Eq
(m)
(m)
(m)
g/t
g/t
g/t
g/t
g/t
%
%
ppm
g/t
Interval Samples
G11-1344-03
689.40
690.40
1.00
0.254
0.138
0.087
0.001
0.028
0.046
0.154
41
0.95
"
690.40
691.35
0.95
0.562
0.325
0.186
0.001
0.050
0.113
0.328
66
2.10
"
689.40
691.35
1.95
0.404
0.229
0.135
0.001
0.039
0.078
0.239
53
1.51
G11-1344-04
655.60
656.20
0.60
0.214
0.116
0.044
0.045
0.009
0.331
0.226
474
3.00
TC-1344-039
624.80
625.10
0.30
0.528
0.315
0.141
0.034
0.038
0.428
0.366
494
4.20
"
625.10
625.50
0.40
0.349
0.196
0.108
0.015
0.030
0.489
0.406
546
4.25
"
625.50
626.70
1.20
0.078
0.040
0.029
0.001
0.008
0.019
0.038
39
0.33
"
626.70
627.10
0.40
0.267
0.161
0.078
0.002
0.026
0.171
0.274
136
1.90
"
624.80
627.10
2.30
0.216
0.124
0.066
0.008
0.019
0.181
0.186
203
1.79
Grab Samples
G11-1344-03
688.95
689.00
0.05
0.139
0.113
0.022
n/a
0.005
1.075
0.321
1105
7.05
"
689.00
689.10
0.10
0.064
0.046
0.014
n/a
0.004
0.312
0.104
301
2.08
"
689.87
690.02
0.15
0.252
0.141
0.081
0.002
0.028
0.043
0.146
43
0.93
"
690.55
690.67
0.12
0.160
0.091
0.048
0.001
0.021
0.039
0.087
34
0.64
"
690.67
690.81
0.14
0.876
0.544
0.264
0.004
0.064
0.247
0.560
125
3.76
Notes: Rh assays from G11-1344-03 (italicized) were assumed to be half the detection limit; true width is unknown at this time; Platinum-equivalent ("Pt-Eq") grade compiles the
above metal grades into a single number and is calculated from metal prices (US$) as follows: $1650/oz Pd, $900/oz Pt, $4500/oz Rh, $1400/oz Au, $6.00/lb Ni, $2.60/lb Cu and
$15.00/lb Co.
Exhibit 2. Plan Map Showing New Drilling and Extent of Thickest (>10 metres) Portion of Mafic Dyke
(CNW Group/Group Eleven Resources Corp.)
Exhibit 3. Drill Hole Plan Map Showing Three Key Holes Intersecting Mafic Dyke Over 400m Strike
Length (CNW Group/Group Eleven Resources Corp.)
Exhibit 4. Cross-Section Showing Interpretation of Mafic Dyke (from Seismic Data and Historic
Drilling) (CNW Group/Group Eleven Resources Corp.)
Update on Zinc Exploration Drilling
All drilling at Ballinalack as part of the current exploration phase announced on
August 6
th
, 2019 has
now been completed. Zinc-focussed assays and interpretation are nearing completion. Group Eleven
aims to provide a full update on these results over the next few weeks.
About the Ballinalack Project
The Ballinalack project is a joint venture between Group Eleven (60% interest) and Shenzhen
Zhongjin Lingnan Nonfemet Company Limited (40% interest), one of the largest zinc producers in
China
, and is located in Counties
Westmeath
and Longford, north-east
Ireland
. The property
contains what is believed by the Company to be the third largest undeveloped zinc-lead occurrence
in
Ireland
and is located approximately 50 kilometres west from the currently producing Navan Zinc-
Lead Mine (Boliden AB).
Qualified Person
Technical information in this news release has been approved by
David Furlong
, P.Geo., Chief
Operating Officer, and 'Qualified Person' as defined under Canadian National Instrument 43-101.
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
. The Company's large land package
allows Group Eleven to leverage new geological approach and geophysical technology to
systematically rethink key aspects of the Irish zinc district. The Company's two key projects in
Ireland
include: a 60% interest in the Ballinalack project (joint ventured with Nonfemet - one of the
largest zinc producers in
China
), located in north-east
Ireland
, hosting potential Navan Bed
mineralization in the Pale Beds; and a 76.56% interest in the Stonepark project (joint ventured with
Arkle Resources plc), located near
Limerick
, next to one of the world's largest undeveloped zinc
deposits: Pallas Green deposit. The Company's team includes accomplished mining professionals
with direct experience in finding mines, building companies and exploring Irish zinc deposits.
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
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, 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 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.
SOURCE
Group Eleven Resources Corp.
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|
T: +1 604 630 8839
CO: Group Eleven Resources Corp.
CNW 08:30e 14-JAN-20