Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress
Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and
0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at
Ballywire; Silver and Copper Values Continue to Impress
Vancouver, Canada, February 06, 2025 - Group Eleven Resources Corp. (TSX-V: ZNG; OTCBB: GRLVF;
FRA: 3GE) (“ Group Eleven” or the “ Company”) is pleased to announce results from the latest two
holes of the ongoing drill program at the Company’s 100%-owned Ballywire zinc-lead-silver discovery
(“Ballywire”), PG West Project (“PG West”), Republic of Ireland.
Highlights:
• G11-3552-27 intersected (from 213.0m):
o 24.8m of 8.1% Zn+Pb (5.8% Zn and 2.3% Pb), 80 g/t Ag and 0.12% Cu, including
o 15.6m of 11.6% Zn+Pb (8.3% Zn and 3.3% Pb), 122 g/t Ag and 0.19% Cu, including
o 6.6m of 16.7% Zn+Pb (11.1% Zn and 5.7% Pb), 240 g/t Ag and 0.42% Cu, including
o 3.5m of 21.3% Zn+Pb (13.3% Zn and 8.0% Pb), 395 g/t Ag and 0.73% Cu
o Located in middle of 270m gap between two previously released drill fences
• G11-3552-25 intersected (from 187.2m):
o 16.2m of 2.8% Zn+Pb (2.1% Zn and 0.7% Pb) and 8 g/t Ag, including
o 4.6m of 7.4% Zn+Pb (5.6% Zn and 1.8% Pb) and 21 g/t Ag, including
o 1.9m of 12.9% Zn+Pb (9.6% Zn and 3.3% Pb) and 39 g/t Ag
o Located 50m NNW from G11-3552-27
• Above results confirm the extent of the recently announced flat-lying zone of zinc -rich massive
sulphide lenses at least 360m along strike and remaining open to the NE
• Massive sulphide zone is pierced by G11-3552-27 and seven previously released holes, of which
three are referenced below:
o G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (released 11-Jun-24)
o G11-3552-18: 11.8m of 11.6% Zn+Pb and 48 g/t Ag (released 22-Oct-24)
o G11-3552-19: 15.3m of 14.5% Zn+Pb and 56 g/t Ag (released 14-Nov-24)
• Drilling continues at Ballywire with two rigs testing further down -dip of the two holes released
today, plus the NE extension; assay results are expected in due course
“It is great to see the NE massive sulphide zone now consistently intersected by eight high-grade holes
over a strike length of 360m and open to the NE,” stated Bart Jaworski, CEO. “ Excellent silver and
significant copper values are also noteworthy because they increasingly point to a stratigraphically
deeper horizon known to be highly prospective for copper and silver in this part of Ireland . Namely,
the Gortdrum Cu-Ag mine, active in the 1960s and 70s, is located 10km NE of Ballywire, whereas, the
Denison and Tullacondra Cu -Ag historic occurrences are 5km SE and 45km SW of Ballywire,
respectively. A deeper Cu-Ag horizon at Ballywire is one of our key targets for 2025.
Our two other key targets include: (i) exploration drilling along strike from the drilled 2.6km -long
discovery area towards the encompassing 6km long prospective trend and (ii) up and down dip from
the discovery trend in search of parallel zones of mineralization. We eagerly await results from drilling
down dip of today’s results and along the NE extension.”
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Exhibit 1. Cross-Section A-A’ of G11-3552-25, -27 (Filling In 270m Gap Between Fences) at Ballywire
Exhibit 2. Plan Map Showing Key New Drilling (G11-3552-25, -27) at Ballywire
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Exhibit 3. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire
Recent Holes from Ballywire Discovery
The Ballywire prospect at the Company’s 100% -owned PG West Project in Republic of Ireland, is a
relatively new zinc-lead-silver discovery (first announced Sept -2022). In addition to 42 holes drilled
and reported by Group Eleven to date, the most recent two holes (G11 -3552-25 to -27) are reported
today (see Exhibits 1 to 6). Note, a second batch of assays totalling over 50m within G11 -3552-27 is
still pending.
High-grade mineralization from G11-3552-25 and -27 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).
Exhibit 4. Summary of Assays from G11-3552-25 and -27 at Ballywire
Item From
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-25 187.15 203.35 16.20 2.14 0.69 2.83 8.00 -
Incl. 187.15 195.51 8.36 3.59 1.11 4.70 14.49 -
Incl. 190.87 195.51 4.64 5.59 1.82 7.41 20.97 -
Incl. 192.69 194.60 1.91 9.59 3.32 12.92 39.19 -
G11-3552-27 213.00 237.81 24.81 5.84 2.28 8.11 80.4 0.12
Incl. 219.42 235.06 15.64 8.30 3.28 11.59 122.1 0.19
Incl. 219.42 222.21 2.79 15.57 3.77 19.35 92.79 0.03
And 228.51 235.06 6.55 11.06 5.65 16.71 240.0 0.42
Incl. 230.36 233.90 3.54 13.26 8.01 21.27 395.1 0.73
Note: True width of the overall mineralized package in all holes above is estimated at approx. 90-100% of the intersected
interval
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Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively
flat-lying zinc-rich massive sulphide lenses and second, ‘other high-grade mineralization’, dominated
by variably dipping massive sulphides, as well as, vein -hosted and disseminated mineralization (see
Exhibits 1 -3). Both styles occur at or near the base of the Waulsortian Limestone and offer great
exploration opportunities as drilling progresses.
Looking forward, seven (7) drill holes (G11 -3552-24, -26, -28 and 29 to -32; see Exhibit 3) are in
progress with results expected in due course . Exhibit 3 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). This in turn is hosted within a 6km long prospective trend defined by four gravity high
anomalies, only one of which (anomaly ‘C’) is systematically drilled to date (see Exhibit 5).
Exhibit 5. Regional Gravity at Ballywire 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 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; si gnificant data
compilation, re-drilling and data verification may be required by a Qualified Person before the historic
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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 minera l resources. ‘Rathdowney Trend’ is the south -
westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (77.64% Interest)
Note: Two westernmost prospecting licenses were surrendered in December 2024 from the Stonepark Project, reflecting
decreasing prospectivity and the Company’s preference to focus on core prospects (Ballywire and Carrickittle West)
Consultant
The Company has engaged ProConsul Capital Ltd. (“ProConsul”) to provide investment marketing
consulting services (the “Services”) commencing February 6th, 2025. In consideration for the Services,
the Company will pay a fee of C$6,000/month and has agreed to grant stock options to ProConsul, the
number and terms of which stock options will be determined at a later date. The agreement is subject
to TSX Venture Exchange acceptance and renewable on a month-to-month basis unless terminated by
either party on 30 days written notice.
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
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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:
• 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
• 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
• 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is
located adjacent to Glencore’s Pallas Green zinc -lead deposit 2. The Company’s two largest
shareholders are Glencore Canada Corp. ( 17.1% interest) and Michael Gentile (1 6.5%). 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.
1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr -17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec -31-2023)