Group Eleven Starts Two-Rig Step-Out Drill Program at Ballywire Zinc-Lead-Silver Discovery
Group Eleven Starts Two-Rig Step-Out Drill Program
at Ballywire Zinc-Lead-Silver Discovery
Vancouver, Canada, January 11, 2024 - Group Eleven Resources Corp. (TSX -V: ZNG; OTCBB: GRLVF;
FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce that a two-rig drill program has
begun at the Company’s 100% -owned Ballywire zinc -lead-silver discovery (“ Ballywire”), PG West
Project (“PG West”), Republic of Ireland.
Highlights
• Two drill rigs have been mobilized to Ballywire with drilling to commence over the next few days
• Drilling will focus on the gravity-high anomalies along strike from the discovery area at Ballywir e
(see news release dated Nov 21, 2023 for more information), spanning a strike -length of
approximately 2.9km
• Drilling is planned to also include step-outs from recently reported high-grade intersections
“We are excited to hit the ground running and kick -off the 2024 drill program at Ballywire ,” stated
Bart Jaworski, CEO. “ Building off the success at Ballywire last year, we are about to test key target
areas which have a geophysical signature similar to that of the discovery area. The strike-length of
high-grade mineralization drilled to date recently increased by 29% or 160m from 550m to 710m .
Including a massive sulphide intercept from 1997, we now have 1.7 kilometres of strike-length over
which robust mineralization has been intercepted. The current phase of drilling aims to test gravity-
high anomalies on either side of the discovery area, over a distance of 2.9 kilometres. Additionally,
we have a further two gravity -high anomalies, also untested, giving us a total prospective trend of
about 6 kilometres.”
Background Information on Ballywire Discovery
Ballywire is located in the SE portion of the Company’s 100% -owned PG West Project, Republic of
Ireland. PG West, including the nearby Tullacondra prospect, cover s an area of 650km2 and is
contiguous with the Company’s Stonepark project (covering 184km2; 76.56% interest) . Ballywire is
located approximately 20km SE of Glencore’s Pallas Green deposit 1 and approximately 50km SW of
the historic Lisheen zinc mine (closed in 2015).
Geologically, Ballywire is situated at the intersection of the SW projection of the Rathdowney Trend,
hosting the past-producing Lisheen and Galmoy zinc mines, and the Pallas Green Corridor, which hosts
the undeveloped Pallas Green deposit1. Historic drilling at the Ballywire prospect was sparse, last being
worked by operators in 2008. Group Eleven staked the prospect in 2016 and announced the discovery
in September 2022.
1 Pallas Green Mineral Resource Estimate (MRE): 45 mln tonnes of 7.2% Zn and 1.2% Pb, Inferred (Glencore,
31-Dec-2022)
2
Exhibit 1. Gravity High Anomalies vs. Drilling To Date at Ballywire Discovery, PG West Project
Note: Red disks along drill hole traces denote mineralized intercepts
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.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; Pink: 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. K ey intercepts to date include: (i) 3.3m of
12.5% Zn+Pb and 48 g/t Ag (G11-468-01), (ii) 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03); (iii)
10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06); (iv) 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu
(G11-468-12) and (v) 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11 -3552-03). The Company’s two largest
shareholders are Glencore Canada Corp. ( 18.2% interest) and Michael Gentile (1 5.0%). 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
3
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.