Group Eleven Resources Ltd. (TSX-V:ZNG) told investors that it has kicked off drilling at its Stonepark project in Ireland and is finalizing plans to start drilling one hole at the recently staked Tullacondra copper-silver prospect in the next four to eight weeks.
The first of a six-hole, 2,300 metre (m), program began at Carrickittle North at Stonepark on February 1, representing a 250m step-out from previous drilling, targeting an area with potential to host zinc mineralization similar to Glencore's nearby Pallas Green zinc-lead deposit.
"We are excited to begin our drill hole at Carrickittle North, targeting similar structure and geology to Glencore's Pallas Green zinc deposit, located less than 10 kilometres (km) along trend to the north. We also very much look forward to conducting our long-awaited drilling at Tullacondra," said Group Eleven CEO Bart Jaworski in a statement.
READ: Group Eleven Resources reveals plans for an upcoming drill program at two of its Irish projects
"With strong, near-surface copper-silver mineralization over hundreds of metres of strike, Tullacondra has been in our sights for a long time. Aside from trying to find look-alike zones of mineralization in the neighbourhood, it is equally intriguing that the prospect's potential for cobalt has never been advanced and yet, may provide a brand-new avenue for exploration on the property," added Jaworski.
Tullacondra sits around 20 kilometres south of Group Eleven's PG West project and the firm was granted prospecting licenses in September 2020. It hosts two adjacent and distinct historic estimates, namely - 3.6 million tonnes of 0.7% copper and 27 grams per ton (g/t) silver - and 0.6 million tonnes at 150 g/t silver and 0.6% copper.
The historic estimates at Tullacondra were first reported by Munster Base Metals Ltd. in 1973 and later summarized by Wilbur and Carter in 1985 and have not been verified as current resources.
Group Eleven said the aim of the Tullacondra drilling was to ascertain how mineralization at the prospect compares to Group Eleven's other copper-silver prospects like Gortdrum, Denison and Oola and also to try to determine if the prospect has potential for economic cobalt mineralization.
The company is a junior explorer focused on advanced-stage zinc exploration in Ireland.
Contact the writer at giles@proactiveinvestors.com