Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire
Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag;
Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire
Vancouver, Canada, October 22, 2024 - Group Eleven Resources Corp. (TSX -V: ZNG; OTCBB: GRLVF;
FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce results from a recent step-out
hole 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:
• G11-3552-18 (a 50m step-out to the NNW from G11-3552-16) intersected:
o 36.6m of 6.4% Zn+Pb (4.8% Zn and 1. 6% Pb) and 2 6 g/t Ag (starting from 22 6.9m
downhole) including:
o 11.8m of 11.6% Zn+Pb (8.0% Zn and 3.5% Pb) and 48 g/t Ag, including:
o 4.0m of 19.8% Zn+Pb (11.4% Zn and 8.4% Pb) and 104 g/t Ag
• Provides additional evidence that mineralizing system at Ballywire is gaining strength to northeast
with the emergence of a relatively flat-lying zone of zinc-rich massive sulphide lenses located at
the base of the Waulsortian Limestone and extending at least 360m along strike (open)
• Zone is pierced by today’s intercept, as well as the following three previously released holes:
o G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (Group Eleven’s best intercept to date;
released 11-Jun-2024)
o G11-3552-13: 6.1m of 11.4% Zn+Pb and 85 g/t Ag (released 01-Aug-24) and
o G11-3552-17: several massive sulphide zones including 4.9m of 9.7% Zn+Pb and 39 g/t Ag;
and 4.2m of 15% Zn+Pb and 34 g/t Ag (released 24-Sep-2024)
• Above m ineralization is contained within a 2.6km long northeasterly trend of significantly
mineralized drill intercepts, and within an overall 6km long prospective trend, also northeasterly,
defined by four gravity-high anomalies along the Waulsortian Limestone
• Two-rig drill program at Ballywire continues on schedule with the next assay results expected over
the coming few weeks
“Our recent drilling at Ballywire has intersected continuous, flat -lying, zinc -rich massive sulphide
lenses at the base of the Waulsortian limestone, an important development that further aligns the
project with classic Irish -type zinc deposits,” stated Bart Jaworski, CEO. “We have hit these massive
sulphides over an open 360 metres of strike and mineralization appears to be widening, intensifying
and getting shallower as we move northeast.”
“Our immediate priority is to further delineate this new, flat -lying, massive sulphide zone, while we
also aim to grow the broader 2.6km footprint of the discovery and follow up on silver and copper
potential beneath the zinc and lead rich horizons. Our drill program continues with two rigs and
further drill results will be released over the coming weeks as we continue to explore Ballywire’s 6km
long prospective trend.”
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Exhibit 1. Cross-Section A-A’ of G11-3552-18 (50m Step-Out NNW) at Ballywire
Note: G11-3552-20 and -22 is completed with assay pending; 50m step-out refers to the distance from G11-3552-16
Exhibit 2. Plan Map Showing New Drilling (G11-3552-18) at Ballywire
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Recent Hole 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 36 holes drilled and reported by
Group Eleven to date, the most recent step-out hole (G11-3552-18) of the 2024 program is reported
today (see Exhibits 1 to 6).
Exhibit 3. Summary of Assays from G11-3552-18 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
G11-3552-18 226.90 263.45 36.55 4.81 1.58 6.39 26.3
Incl. 226.90 240.82 13.92 3.97 0.85 4.82 16.7
Incl. 226.90 233.93 7.03 4.52 1.06 5.58 16.1
Incl. 226.90 231.68 4.78 4.74 1.30 6.04 16.8
And 237.50 240.82 3.32 6.17 0.81 6.98 23.2
And 245.48 263.45 17.97 6.49 2.54 9.03 40.0
Incl. 248.44 263.45 15.01 7.17 2.95 10.12 45.4
Incl. 247.75 259.54 11.79 8.05 3.52 11.57 48.1
Incl. 255.59 259.54 3.95 11.42 8.36 19.78 103.6
Incl. 257.50 259.26 1.76 15.64 14.72 30.36 184.4
Note: True width of the overall mineralized package above is estimated at approx. 90-100% of the intersected interval
High-grade mineralization from G11 -3552-18 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 1).
Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively
flat-lying zinc -rich massive sulphide lenses and second, ‘other mineralization’, predominantly
observed over the last two years and dominated by variably dipping massive sulphides, as well as,
vein-hosted and disseminated mineralization (see Exhibit 2). Both styles occur at or near the base of
the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.
Exhibit 4. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire
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Looking forward, five drill holes (G11 -3552-19 to -23; see Exhibit 4) have recently been completed
with assay results expected over the coming weeks. Additionally, two other holes (-24 and -25) are in-
progress, located northeast of G11 -3552-18 and northeast of G11 -3552-19, respectively. Exhibit 4
shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly
mineralized drill intercepts (open in all directions).
Exhibit 5. Regional Gravity Map of Ballywire Area Showing 6km Long Prospective Trend
Notes to Exhibit 6: (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 Prop erty’ 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 ke y 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 res ources. ‘Rathdowney Trend’ is the south -
westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
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Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest)
Third Party Agreement
The Company has entered into an advertising and investor awareness campaign with Dig Media Inc.
dba Investing News Network (“INN”). INN is a private company headquartered in Vancouver, Canada,
dedicated to providing independent news and education to investors since 2007 at
www.investingnews.com. For the 6-month term of the agreement, unless terminated earlier, INN will
provide advertising to increase awareness of Group Eleven. INN does not provide Investor Relations
or Market Making services. The cost of the campaign is C$22,900 + GST, payable in cash in two
instalments (C$11,450+GST by 17-Oct-2024 and C$11,450+GST by 17 -Jan-2024). INN currently holds
no securities in Group Eleven.
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.
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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:
• 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)
• 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
• 6.1m of 11.4% Zn+Pb, 85 g/t Ag (G11-3552-13)
• 5.6m of 13.1% Zn+Pb, 116 g/t Ag (G11-3552-17)
• 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
The Company’s two largest shareholders are Glencore Canada Corp. ( 17.6% interest) and Michael
Gentile (1 7.0%). 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.