Connemara Mining PLC (LON:CON) is pleased that joint venture partner Group Eleven Resources Corp (CVE:ZNG) is to restart drilling at a key asset, the Stonepark Zinc project in Limerick, Ireland, in the next few weeks.
Group Eleven has a 76.56% interest, while Connemara has 23.44%. The former aims to determine if exploration success at the adjacent Pallas Green project, which is owned by major Glencore plc (LON:GLEN) can be replicated.
Pallas Green hosts a JORC 2012-compliant inferred resource of 44mln tonnes grading at 8.0% zinc and lead as at 31 December 2016.
Group Eleven aims to expand all three established mineralised zones (Stonepark, Stonepark North, and Stonepark West; drilled by Teck Resources Ltd between 2007 and 2011), test five existing regional prospects and re-examine the entire Limerick Basin (which underlies Stonepark and Group Eleven's contiguous PG West Property) to ascertain potential for carbonate replacement deposit type mineralisation, as well as, seek large regional feeder structures and corridors.
"We are excited to see work is underway at Stonepark. We are especially pleased to confirm commencement of expansion and confirmatory drilling," said Patrick Cullen, chief executive.
"Stonepark is an advanced project and a key asset. We plan to maintain Connemara's share in the project going forward and are allocating £250,000 from our recent fundraising to cover expenditure commitments in the coming 12 months."
Group Eleven recently started regional fieldwork at Stonepark, consisting mostly of a detailed ground gravity survey and soil sampling.
It is also participating in an upcoming airborne geophysical survey, conducted as part of the Geological Survey of Ireland's Tellus programme, which will cover the Stonepark site.
The survey is scheduled to begin in May this year.