VANCOUVER, BC, Sept. 30, 2020 /CNW/ - Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or the "Company") is pleased to announce that it has commenced drilling at the Carrickittle zinc prospect ("Carrickittle") on the Company's 100%-interest PG West project ("PG West") in the Republic of Ireland.
- Drill program at Carrickittle consists of approximately 20 holes totalling 1,200 metres
- Phase 1 of the drill program commenced on September 29th and consists of six holes and 600 metres
- Phase 1 drilling will focus on Zone 1 of the Carrickittle prospect, testing the immediate extensions of the high-grade zone announced on July 6th, 2020 (10.3 metres of 14.6% zinc and 5.0% lead, or 19.6% combined, and 43 g/t silver in hole G11-2840-04)
"We are excited to commence follow-up drilling at Carrickittle and look forward to updating the market as soon as results are ready and compiled during the next couple of months," stated Bart Jaworski, CEO. "The Limerick basin is proving to be a very prospective zinc-lead camp and we look forward to progressing exploration in the near-term, especially along the emerging Pallas Green Corridor."
PG West Zinc Project, Ireland
The Carrickittle prospect is located within the 100%-owned PG West project, in south-western Ireland (see Exhibit 1). PG West is situated within the Limerick basin, a geological feature which also hosts the Company's contiguous 76.56%-owned Stonepark project and Glencore's adjacent Pallas Green project (containing the Pallas Green zinc-lead deposit1).
Carrickittle Drill Program
Initial follow-up drilling at Carrickittle will consist of approximately 20 holes totalling 1,200 metres. Phase 1 of this program, consisting of six holes and 600 metres, was permitted a short time ago and commenced on September 29th. Based on the results of Phase 1, the Phase 2 drill program will be further refined and permit applications will be submitted to the regulators. The start of Phase 2 (for the remaining 600 metres) is anticipated before year-end.
The Phase 1 drill program will focus on Zone 1 of the Carrickittle prospect, testing the immediate extensions of the high-grade zone announced on July 6th, 2020 (10.3 metres of 14.6% zinc and 5.0% lead, or 19.6% combined, and 43 g/t silver in hole G11-2840-04). Specifically, the key aim of Phase 1 is to determine the lateral and dip extent of the newly discovered massive sulphide body and to ascertain its true strike and dip direction. Also key will be identifying zinc-lead grade variability, any copper-silver enrichment zones and the location of any potential feeder structures. The above information will be integrated into the Company's exploration strategy and design on Zones 2, 3 and 4 at Carrickittle and the >1 kilometre strike extent which remains open to the north.
1 Resources and Reserves Report (Glencore, December 31, 2019) – 45.4 million tonnes of 7% Zn + 1% Pb (Inferred)
Notes to Exhibit 1: (a) Pallas Green MRE is owned by Glencore; (b) The historic estimate at Denison was reported by Westland Exploration Limited in 1988, the historic 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.
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. 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
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, 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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