Group Eleven Plans 2,300m Drill Program at Stonepark Project, Follow-Up Drilling at Ballywire Prospect, PG West Project, Ireland
Group Eleven Plans 2,300m Drill Program at Stonepark Project,
Follow-Up Drilling at Ballywire Prospect, PG West Project, Ireland
Vancouver, Canada, January 19, 2022 - Group Eleven Resources Corp. (TSX -V: ZNG; OTC: GRLVF; FRA:
3GE) (“Group Eleven” or the “Company”) is pleased to provide an update on its zinc exploration programs
at the Carrickittle and Ballywire prospects (“Carrickittle” and “Ballywire”) within its 100%-owned PG West
project (“PG West”), as well as, its Stonepark project (“Stonepark”, 76.56% Group Eleven, 23.44% Arkle
Resources PLC), Ireland.
Highlights:
• Fully-funded drill program (2,300m, six holes) at Stonepark is expected to begin in a few weeks
• Drilling to include: (a) 250m step-out hole (estimated depth of 750m) in the northern portion of the
Carrickittle prospect (“Carrickittle North” prospect); (b) 400m step-out hole (750m) in the far western
portion of the Carrickittle prospect (“Carrickittle West” prospect); and (c) 100m step-out hole (400m)
at the Stonepark North MRE1
• Carrickittle holes are significant given they represent first substantial tests of the southern margin of
the Limerick Volcanic Complex (“ LVC”), which management believes has the potential to host zinc
mineralization similar in style and scale to Glencore’s nearby Pallas Green deposit2
• Drilling at the 1km NW Extension at the Carrickittle Prospect, one of the key vectors informing
exploration at the southern LVC, was completed in mid -December, 2021, comprising four holes
(totalling 727 metres); assays are expected in late February (delayed due to Covid-19 related issues)
• A drill program at Ballywire is planned to start in 2-3 months to follow-up recently discovered high-
grade massive sulphides (3.30m of 10.1% zinc, 2.4% lead, or 12.5% combined, and 48.3 g/t silver3)
“Complimenting the recently completed drilling at Carrickittle, we are now making our first substantial
steps into the south side of the LVC within the Carrickittle North area, testing the hanging wall of a major-
displacement fault that Group Eleven identified in 20 204,” stated Bart Jaworski, CEO. “ Drilling at
Carrickittle North and West maintains our focus on Carrickittle and southern LVC to search for the
hypothesized ‘mirror-image’ of the Pallas Green deposit2. Other holes at Stonepark will aim to potentially
expand the Stonepark MRE while advancing exciting prospects nearby, some of which are proximal to
drilling on the adjacent Rathkeale property, recently announced by Adventus/South325.”
“Ballywire also remains a top-priority. A few months ago, our 220m step-out hole discovered new high-
grade ma ssive sulphide 3, by far the best result to date at Ballywire. Strong alteration and consistent
mineralization are now drilled over a distance of 900m. The next nearest historic hole testing the target
horizon, located 1km to the west, intersected 2.5m of 6.2% Zn+Pb, including 0.5m of 20.3% Zn+Pb3. Given
the above, plus the fact Ballywire lies at the intersection of the Rathdowney Trend and the Pallas Green
Corridor, we are excited to start follow-up drilling at the earliest opportunity.”
1 NI 43-101 Report on Stonepark, Ireland (dated April 26, 2018) – 5.1 million tonnes of 8.7% Zn + 2.6% Pb (Inferred)
2 Resources and Reserves Report (Glencore, December 31, 2020) – 45.4 million tonnes of 7% Zn + 1% Pb (Inferred)
3 News Release by Group Eleven on Drill Results from Ballywire Prospect, PG West (dated Se ptember 7, 2021)
4 News Release by Group Eleven on Regional Drilling at PG West Project (dated November 3, 2020)
5 News Release by Adventus Mining Corp. on Drilling at Rathkeale Property (dated December 3, 2021)
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Planned Drilling at Stonepark Project (76.56%-interest), Ireland
The Stonepark zinc project is owned 76.56% by Group Eleven (operator) and 23.44% by Arkle Resource
PLC. The property hosts a mineral resource estimate (“MRE”) totalling 5.1 million tonnes of 8.7% zinc and
2.6% lead (11.3% combined) 1, located 1-2 kilometres west of Glencore’s Pallas Green zinc deposit 2 (see
Exhibit 1). The Carrickittle prospect on the PG West property (100% -interest) extends northward and
westward onto the Stonepark property (at the ‘Carrickittle North’ and ‘Carrickittle West’ localities) , as
evidenced by the presence of alteration, prospective faulting and local zinc mineralization.
Exhibit 1. Location of Stonepark (76.56% interest) and PG West (100% interest) Projects, Ireland
Notes to Exhibit 1: (a) Pallas Green MRE is owned by Glencore; (b) Stonepark MRE: please refer to the NI
43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland,
with an effective date of April 26, 2018 , as found on SEDAR ; (c) the historic estimate at Denison was
reported by Westland Exploration Limited in 1988, the hist oric estimate at Tullacondra was reported by
Munster Base Metals Ltd in 1973 and the historic estimate at Gortdrum was reported by G.M. Steed in
1986; these 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.
The planned exploration program at Stonepark consists of six holes (see Exhibit 2) totalling 2,300 metres
and is expected to cost €318,000 (C$461,000, using 1.45 EURCAD exchange rate). Group Eleven’s pro-rata
share of the costs is expected to be €243,000 (C$353,000).
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Both the Stonepark1 and Pallas Green2 zinc deposits are located on the north side of the Limerick Volcanic
Complex (“LVC”). With the exception of Group Eleven’s hole (G11-450-02 drilled in 20196) and a historic
hole from 19986, the south side of the LVC remains completely un-drilled. The Company’s upcoming holes
are significant as they represent the first substantial steps into the south side of the LVC, testing if zinc
mineralization is likely to occur as a ‘mirror image’ to the Pallas Green deposit2.
Exhibit 2. Planned Drill Holes at Stonepark Project (76.56% interest), Ireland
Note: Pallas Green Deposit – as per Blaney & Redmond (2015), see footnote 2 above; Stonepark Deposit – see footnote 1 above
The planned hole at Carrickittle North is approximately 1.8km NNW from the Carrickittle prospect (which
hosts 10.3m of 19.6% Zn+Pb and 43 g/t Ag ; see news release dated July 6, 2020) and represents a 250-
300m step-out from previous drilling (see Exhibit 2 and 3). Carrickittle is important is it provides key
evidence that the geological conditions necessary to form high-grade mineralization are not restricted to
the north side of the LVC, but likely also occur on the south side. The planned hole, expected to be 750m
deep, will test the hypothesis of a down-dropped block of Waulsortian Limestone with potential for zinc
mineralization at the base of this unit, as well as, within the possible continuation of the brecciated unit
intersected in nearby hole G11 -450-02. The intersected breccia unit has been interpreted to be on the
outer rim of a yet undiscovered hydrothermal system6.
Similarly, the planned hole at Carrickittle West (see Exhibit 2 and 4) represents a 400m step -out from
previous drilling, testing the hanging wall of major interpreted fault. From historic drilling, it appears that
black matrix breccia (“ BMB”, alteration commonly associated with zinc mineralization in Ireland,
especially in the Limerick area) appears to be intensifying towards the north, the location of the planned
hole. It is also encouraging that s trongly anomalous mineralization (up to 0.5m of 8.0% Zn+Pb) occurs
relatively consistently at the base of the Waulsortian limestone at this prospect.
6 News release by Group Eleven on Regional Drilling at PG West Project (dated May 7, 2019)
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Exhibit 3. Cross-Section of Planned Hole at Carrickittle North Prospect, Stonepark Project, Ireland
Note: ‘sph’ means sphalerite (zinc-bearing mineral), ‘gal’ means galena (lead-bearing mineral)
Exhibit 4. Cross-Section of Planned Hole at Carrickittle West Prospect, Stonepark Project, Ireland
Note: ‘BMB’ means black matrix breccia (commonly associated with zinc mineralization in Ireland)
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Closer to the Stonepark MRE1, a 400-metre-deep hole is planned as a 100m step-out from previous drilling
near the Stonepark North portion of the resource (see Exhibit 2 and 5). This is one of the most prospective
step-out opportunities near the Stonepark MRE given the very wide thicknesses of BMB, which remain
open towards the NW. On the remainder of the Stonepark property, three earlier-stage shallow holes are
also planned (see Exhibit 2).
Exhibit 5. Cross-Section of Planned Hole at Stonepark MRE, Stonepark Project, Ireland
Note: ‘BMB’ means black matrix breccia (commonly associated with zinc mineralization in Ireland)
Planned Drilling at Ballywire Prospect, PG West Project (100%-interest), Ireland
The Ballywire prospect is located at the intersection of the Rathdowney Trend and the Pallas Green
Corridor (see Exhibit 1 ), PG West project. A recent 220m step -out hole disc overed a new high-grade
massive sulphide bearing zone (grading 3.30m of 10.1% zinc, 2.4% lead, or 12.5% combined, and 48.3
g/t silver3; see hole G11-468-01 in Exhibits 6), by far the best result to date at Ballywire. Strong alteration
and consistent mineralization are now intersected over a down-dip distance of 900m. The next nearest
historic hole testing the target horizon, located 1km to the west, intersected 2.5m of 6.2% Zn+Pb,
including 0.5m of 20.3% Zn+Pb (note, historic holes drilled closer to G11 -468-01 did not reach target
horizon, therefore the area remains untested; see open circles in Exhibit 6).
A follow-up drill program, planned to start in 2-3 months, is currently being finalized with a view to drilling
one or more relatively short holes up-dip (i.e. to the north) from the above described, newly discovered
high-grade massive sulphide.
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Exhibit 6. Plan View of Ballywire Prospect, PG West Zinc Project (100% interest), Ireland
Note: ‘T’ shaped symbols denote strike and dip of the Waulsortian Limestone, showing the unit comes to surface on the northern
side and dips (deepens) towards the south
Qualified Person
Technical information in this news release has been approved by Paul Gordon , P.Geo., geological
consultant at SLR Consulting , and independent ‘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. 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: +604-630-8839
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.
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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, inc luding 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 t o 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.