Proactiveinvestors RSS feed en Sun, 23 Sep 2018 21:10:27 +0100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[Media files - Group Eleven Resources: Stone Park in Ireland has 'sprung into life' ]]> Thu, 19 Apr 2018 15:57:00 +0100 <![CDATA[News - Group Eleven Resources kicks off drilling at Ballinalack project in Ireland ]]> Group Eleven Resources Corp (CVE:ZNG) has made a major leap - and kicked off diamond drilling its Ballinalack zinc project in Ireland, it revealed, as the group updated on progress.

The resource firm has 60% of the joint venture, while Shenzhen Zhongjin Lingnan Nonfemet Company Ltd, one of the largest zinc producers in China, has a 40% stake.

Second rig coming..

Drilling will initially focus on better understanding the Pale Bed target. One rig is currently operating, with a second to be added in the next few weeks.

Ballinalack lies 50 km west of Boliden's world-class Navan zinc mine where mineralisation is hosted in the Pale Beds limestones along a major regional fault and several holes previously sunk in the Pale Beds at Ballinalack found strong to weak mineralisation.

"We are excited to be undertaking our first drill program as a public company, and I'm particularly pleased our recent 3D computer modelling has allowed us to start testing the Pale Beds at Ballinalack well ahead of our original timeframe" said chief executive Bart Jaworski.

"Fieldwork on our other projects is just starting to kick into high-gear, but it is gratifying to see that preliminary work at the Castlemaine prospect is yielding positive results..," he added.

The 'Irish Orefield'..

The Castlemaine prospect is part of the Tralee project, in which the group owns 100%, and which the firm  regards as one of the most overlooked parts of the 'Irish Orefield'.

A grab sample from surface float at Castlemaine was recently assayed and returned 223 g/t (grams per ton)  silver, 13.5% zinc and 17.9% lead,  representing the highest silver grade observed to date on the Tralee project, the firm highlighted.

Elsewhere, at the Stonepark project, which is a joint venture between Group Eleven (76.56%) and Connemara Mining plc (23.44%), drilling is scheduled to start in the next few weeks at the North prospect to improve the understanding of the geology.

The project lies next to major Glencore's (LON:GLEN) Pallas Green, which is one of the world's largest undeveloped zinc deposits, and has   a JORC inferred resource of 44mln tonnes grading 8.0% zinc and lead.

Group Eleven aims to determine if exploration success at the adjacent Pallas Green can be replicated within the same Waulsortian limestone units at Stonepark.

Mon, 05 Mar 2018 10:27:00 +0000
<![CDATA[News - Group Eleven, Ireland’s biggest mining license holder, to list in Canada later this year ]]> Who holds more ground under license for mining exploration in Ireland than anyone else? Glencore? Teck? Boliden?

Step forward Group Eleven, a privately-held vehicle that’s less than two years old but which already has over 2,700 square kilometres under license.

Run by ex-Raymond James mining analyst and geologist, Bart Jaworski, the company was seeded late in 2015 and early 2016 which, as anyone who follows capital markets knows, was an interesting time in mining.

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“The Chinese market was crashing, the majors were divesting and juniors were looking the other way,” says Jaworski.

“And that made it a really good time to get in. A lot of ground was made open, a lot of ground was being let go.”

That included 1,000 square kilometres of ground neighbouring Glencore’s famous Pallas Green project, and projects on two other of Ireland’s most famous mineralised trends, the Rathdowney Trend and the Navan-Silvermines Trend.

It’s enough to have attracted the billion dollar Canadian company MAG Silver (TSE:MAG) onto the share register. MAG came in for half of Group Eleven’s C$1.5 mln placing in the autumn of last year. The company will list in Canada later in the year.

But given that Ireland is famously prospective for zinc and gold, wherein lies the interest of this major silver company? The answer, perhaps, lies in the silver which is commonly associated with Irish zinc.

Geological model changes ...

But there may be more to it than that.

Down in the southwest, on the Navan-Silvermines Trend, Group Eleven has opened up a series of licenses that have been closed for exploration for the better part of a generation.

And it may be that the traditional model of mineralisation used to define Irish zinc deposits may be in need of modification here.

“It could be that we have CRD or ‘carbonate replacement deposit’ type systems as well,” says Jaworski.

“The story in Ireland has traditionally been that deposits match the Mississippi Valley-style. But the big idea here is that if you go to the south west of the country the geological model changes to a more intrusive one.”

It’s an intriguing proposition, and one that may start to gain a lot more traction now, as mining markets finally start to recover from the fall-out of the global financial crisis and investors begin to look for new inspiration. MAG has already bought into the story, as have other European and Canadian investors.

With Jaworski’s background allied to that of his co-founders John Barry and David Furlong, and with MAG’s Peter Megaw as an advisor, the company ought to be able to pick up speed pretty quickly.

It appears that over the way, on Glencore’s Pallas Green project, things are pretty quiet. But Group Eleven plans to liven things up in the area. It will be interesting to watch.


Tue, 11 Apr 2017 10:47:00 +0100