Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) (FRA:3GE) said its step-out drilling program at the Stonepark zinc project in Ireland has intersected “robust mineralization” outside the mineral resource estimate (MRE).
It added that further expansion work was “strongly warranted”.
The resource, which totals 5.1 million tonnes grading 8.7% zinc and 2.6% lead, is just a “few kilometres to the west” of Glencore-owned Pallas Green, one of the world’s biggest undeveloped zinc deposits. Two holes were drilled: G11-2638-04 and G11-2638-05.
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The former targeted a 135-metre (m) gap within the Stonepark North portion of the current resource area and intersected 17.95m of 1.02% zinc and 0.23% lead (for 1.25% combined).
Among the highlights was a 2.15m section of 3.39% zinc – including 500mm at 8.7% zinc and 3.34% lead.
Group Eleven said the results gleaned from this first hole are likely to be sufficient to extend the wireframe (mineralized zone) of the resource estimate when a full update study is done.
G11-2638-05, meanwhile, was drilled 85m from the Stonepark West part of the mineral resource.
This hole encountered what was termed “moderate mineralization”, including 2m of 1.21% zinc and trace lead.
"We are delighted that, despite a modest budget and limited metres drilled, the step-out drill program at Stonepark has intersected robust mineralization beyond the boundary of the current mineral resource estimate," said Group Eleven chief executive Bart Jaworski.
"The two holes drilled at Stonepark provide us with clear resource expansion potential at Stonepark North and strong vectors for follow-up work at Stonepark West. Further expansion drilling is strongly warranted.”
Contact the author at ian.lyall@proactiveinvestors.com