Group Eleven Resources Corp reported that a recent 220-metre step-out hole drilled at the Ballywire zinc prospect at the company’s 100%-owned PG West project in Ireland intersected 3.30 metres of 13.6% zinc equivalent within a wider mineralized intercept that exceeded 36 metres.
Group Eleven said the hole represents by far the best results to date at Ballywire and suggests immediate exploration potential over several kilometres in all directions, most notably to the north and west.
“This is a significant breakthrough in the company's comprehensive search for a new zinc deposit in Ireland,” Group Eleven Resource CEO Bart Jaworski said in a statement.
READ: Group Eleven Resources kicks off maiden drill program at Zones 3 and 4 at Carrickittle zinc prospect in Ireland
“The above results demonstrate that significant mineralization exists at Ballywire and that scant historic drilling which managed to intersect mineralization, could now be interpreted as potentially being on the margins of a larger, more robust system,” Jaworski added.
The company noted the mineralization has consistently been observed over 900 metres down-dip and is open in all directions.
It added that today’s results catapult Ballywire into the same league as Group Eleven’s Carrickittle prospect in terms of exploration potential, warranting immediate follow-up.
Group Eleven Resources is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland.
Its properties are located within the established Irish Zinc District and are near or adjacent to major historic mines or deposits. The Irish Zinc District has been a major source of zinc production since the 1960s and is currently home to some of Europe’s largest zinc projects including the Navan (Tara) Zinc-Lead mine (Boliden), the Pallas Green deposit (Glencore) and the past-producing Lisheen mine (Vedanta) and Galmoy mine (Lundin Mining).
Contact Sean at sean@proactiveinvestors.com