Group Eleven Resources Corp has reported results from the first hole at its Tullacondra copper-silver historic estimate, which, the company said, was the best hole sunk to date at the area.
Tullacondra lies 20 kilometres (km) south of the explorer's PG West project in Ireland.
The hole hit a 130.1m intercept grading 0.50% copper and 20.8 grams per ton (g/t) silver, including 65.1 metres (m) of 0.64% copper and 29.5 g/t silver, compared to a best historical drill assay of 106.4m of 0.56% copper and 24.2 g/t silver.
In addition, a newly-identified zone of 13.2m grading 0.37% copper and 16.3 g/t silver was intersected from 121.9m downhole, including a silver and copper-rich horizon of 0.40m of 303.0 g/t silver and 5.37% copper.
Overall, the historic estimate at Tullacondra remains open in most directions and potential exists to find look-alike bodies elsewhere on the property, noted Group Eleven.
READ: Group Eleven Resources extends mineralization at northwest extension at the Carrickittle zinc prospect in Ireland
"We are excited to see such robust numbers coming from Tullacondra, especially with grades over 5% copper and 600 g/t silver," said Bart Jaworski, the CEO in a statement.
"It is significant that a previously unknown zone of mineralization, now representing the strongest zone of copper on the property, has been discovered within the Old Red Sandstone - a lithological unit not typically the focus of much attention in Ireland.
"Tullacondra is trucking distance from our key zinc and copper-silver prospects at the nearby PG West and Stonepark projects and we look forward to unlocking further shareholder value as our ongoing 2022 drill program (over 6,000m and two rigs) progresses and now transitions to include Ballywire," he added.
A historic estimate at Tullacondra represented two adjacent and distinct historic estimates of 3.6 million tonnes of 0.7% copper and 28 g/t silver, and 0.6 million tonnes of 150 g/t silver and 0.6% copper.
The Tullacondra prospect also lies around 45 km from the firm's Stonepark zinc deposit and Glencore's Pallas Green zinc deposit, as well as, 40-50 km from Group Eleven's Denison and Gortdrum copper-silver prospects.
Group Eleven also told investors that follow-up drilling had now started at its Ballywire zinc prospect, PG West, Ireland.
The company is a mineral exploration company focused on advanced-stage zinc exploration in the Republic of Ireland.
Contact the writer at giles@proactiveinvestors.com